An anticipated recovery in the upstream segment in 2017 could spur a new round of investment, and downstream demand is expected to continue rising, particularly as vehicle sales accelerate. While the forecast for 2015 is mixed, the industry’s long-term prospects remain bright, and the sector is likely to be a major economic engine over the next five years. The total volume of petroleum...
In recent years, insurance penetration and accessibility have been improving steadily in Kenya. The middle class is growing, more Kenyans have disposable income and there is potential for new demand for insurance. There is rapid urbanisation, giant infrastructure projects, new energy schemes and growing industry. In 2013 life insurance penetration stood at 1.2% of GDP and general insurance was...
The country’s capital markets have seen some bright spots in 2015 amid the broader turbulence affecting emerging markets around the world. The NSE had a total of 64 listings as of late 2015. They were split into 11 categories: agricultural; automobile and accessories; banking; commercial and services; construction and allied; energy and petroleum; insurance; investment; investment services;...
The banking sector is growing and profitable, although expenses are climbing faster than revenues and non-performing loans have also increased. The overall balance sheet reached KSh3.6trn ($39.6bn) in June 2015, up 21.4% from KSh3trn ($33bn) a year earlier. A number of factors also stand to benefit the sector going forward. Kenya’s banks are gearing up to participate in financing huge...
Kenya’s economic outlook for the years ahead looks robust, despite recent challenges such as a trade deficit and rising debt. Following 2014’s GDP rebasing, the country is now East Africa’s largest economy and boasts a prominent profile in the EAC. According to official forecasts, growth is expected to be around 6.5-7% in 2015 and to continue at a similar level for the coming years. This...
Kenya has undergone a significant political and governance transformation over the last five years. New measures to encourage a more stable and democratic system have been ushered in, changing the way Kenyans are governed and how the different layers of administration interact. These structural alterations are good news for the country, although there are still challenges as it looks to...
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