With commercial-scale resource discoveries in Kenya in recent years – of both oil and solid minerals – the country’s energy and mining sectors are expanding. Kenya is now poised to join the ranks of commodity exporters, which is a significant reversal from the country’s historic dependency on imports. Authorities are currently overhauling related regulatory frameworks and working on large-...
Under the auspices of the overarching Vision 2030 economic development plan, industrialisation remains a top priority for the Kenyan government, with the sector recording steady growth in 2015 against a backdrop of falling energy and input prices, lending an optimistic outlook for 2017 and beyond. Industrial stakeholders continue to face hurdles, however, and manufacturing’s contribution to...
In 2016 Kenya was ranked as one of Africa’s most mature insurance markets, with growth forecast at 6% a year, according to EY. While this is slower than some other large African markets, annual premium income was still expected to increase significantly, from $1.8bn in 2014 to $2.2bn by 2018, driven by urbanisation and a strong economy. Though the potential for growth is strong, the market has...
The capital markets in Kenya have witnessed many years of sustained and rapid growth. This performance, phrased as one investor as “Africa in fifth gear”, reflects the broader macroeconomic fundamentals of the country’s economy, which is set to strengthen further in 2017 as a result of ongoing government spending on infrastructure and the recovery in tourism. However, short-term hurdles have...
Kenya’s banking sector benefits from healthy fundamentals, which in turn has ensured steady growth in lending and assets, and strong performances for listed creditors. However, 2016 provided the sector with its fair share of challenges to navigate. Nevertheless, the outlook for the country’s lenders is positive. A key driver of growth among Kenyan banks remains their ability to tailor products...
Kenya was the sub-Saharan Africa’s fifth-largest economy in 2015 behind Nigeria, South Africa, Angola and Sudan, ranked 11th in inward foreign direct investment and is one of the few countries in Africa that is not primarily dependent on extractive revenues. This performance is not necessarily surprising given the country’s comparative advantages. The East African market has one of the highest...
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