Kenya has long carried out exploratory drilling – a total of 31 exploration wells were drilled between 1960 and February 2012 – but until recently it did not record any significant finds. This changed in March 2012, when Tullow Oil announced an oil discovery at the Ngamia-1 well in Turkana. As of July 2014, a further 16 wells had been drilled, of which 11 were discovery...
Along with Tanzania and Uganda, Kenya is emerging as a new destination for oil and gas explorers after several hydrocarbons deposits in commercially viable quantities were found in the East Africa region. A series of onshore and offshore oil and gas finds in Kenya suggest that the country has the potential to become a hydrocarbons exporter, as well as a regional energy...
The banking sector in Kenya is notably diversified, thanks in large part to the country’s efforts to boost financial inclusion. Kenya’s predominant mobile money platform, M-Pesa, is perhaps the best known example, but other elements of the Kenyan system, such as savings and credit associations, microfinance and agency banking, also underscore the diversity and innovation...
The government has identified the cost of finance for small and medium-sized enterprises (SMEs) as a major challenge to the country’s long-term goals. Indeed, the lending market has proven to be one of the more contentious topics for the country’s banking sector. By the spring of 2014 the problem was approaching its third year as a topic of debate, and in early April the...
The country hosts a range of existing mobile money products and innovative experiments, making it one of the world’s key laboratories for financial inclusion. With government support – specifically, from the Central Bank of Kenya (CBK) – development agencies and private-sector entrepreneurs continue to push innovations and study implementation methods. As a result, while...
Savings and credit cooperative societies (SACCOs) are a fast-growing segment within Kenya’s financial services system and are often a first choice for borrowers, particularly in the middle class. The cost of funds is cheaper and the application process is faster and less bureaucratic. Their popularity is one of the reasons why a dedicated regulator was recently created...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×