After seven years of negotiation, the signing of the Tripartite Free Trade Agreement (TFTA) in June is being heralded by many in Kenya as a turning point in regional integration.
Kenya
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The government of Kenya is looking to capitalise on high mobile penetration to expand financial inclusion, with plans to offer a new infrastructure bond exclusively via mobile phones, marking the first sale of its kind in the world.
The introduction of new products and tools aimed at boosting liquidity may help Kenya support growth of its capital markets during a period of broader emerging market volatility.
Economic update | Kenya plans spending boost
19 Aug 2015
Announced in June and effective from July, a KSh2.1trn ($20.5bn) budget marks Kenya’s largest to date, with planned expenditure up by about 18% on funds allocated in the previous fiscal year.
Efforts to add more than 5000 MW of electricity generation capacity in Kenya – part of a push to improve electrification rates to 70% of households by 2017 – are leading to a jump in renewable projects, as well as cuts in end-user tariffs.
Despite high demand for cement in Kenya, profit margins in the sector remain under pressure, as competition ramps up.