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...
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Chapter | Capital Markets from The Report: Kenya 2017
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...
Even amid a broader downturn in many African markets, Kenya has consistently been one of sub-Saharan Africa’s most reliable performers.
Economic update | Consolidation in financial services to increase Abu Dhabi’s global clout
16 May 2017
First announced in June 2016, a merger between National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) was finalised last month.
A government push to enforce stronger uptake of compulsory health and automotive coverage could generate substantial new business in Saudi Arabia’s insurance sector, deepening the industry’s premium pool and strengthening its asset base.