In recent decades, the pharmaceutical market has expanded its geographical reach. This trend appears to be here to stay; in a survey of major pharmaceutical firms conducted by global consulting firm PwC’s Strategy& team, more than half of respondents anticipated that over 30% of their global sales would originate in emerging markets by 2018. Even in the most newly opened markets, drug…
Amid strong growth in other sectors, agriculture remained a significant, if smaller, part of the Kenyan economy in 2017, accounting directly for 31.5% of the nation’s GDP. Farms also employed 38% of the formal workforce, while authorities estimated real sector participation to be higher, owing to informal farming. In 2017 growth was slowed by several hurdles, most prominently a drought that the state…
Having earned the moniker Silicon Savannah – a status the country first actively sought in 2013 when it launched its economic development roadmap, Vision 2030 – Kenya has made significant strides in ICT. Vision 2030 included a technology development blueprint with the main objective of transforming the country into a global digital player. Progress in this regard is being fuelled by favourable…
The domestic real estate environment in 2017 was shaped by slower economic growth as compared to 2016, stagnating prices and shifts in the retail scene. The Kenyan property market experienced strong performances in 2014-16, with high occupancy seen in the office segment, in particular. However, both commercial and residential real estate activity declined in 2017, with marginal performance…
Kenya’s construction sector experienced slower growth in 2017 than in previous years, owing in part to uncertainty surrounding the contested August general elections, which translated to no major government-led infrastructure projects being announced in the second half of the year. However, while the construction sector grew by less than the 9.8% recorded in 2016, healthy expansion of 8.6%…
After some challenging years, Kenya’s tourism industry is recovering, with the country becoming an increasingly attractive destination as stability and confidence have returned, travel connections have improved and relevant government programmes have come into effect. The authorities are adopting increasingly innovative policies to encourage growth, which appear to be yielding results, with…
Significant reform is under way to make the Kenyan education system more efficient and better able to train workers for the modern economy. The government is upgrading the curriculum, expanding coverage and placing an added focus on technical and vocational education and training (TVET). With pressing demand created by a growing population, another key focus is on improving access and quality…
The current administration has placed an increased emphasis on Kenya’s health care sector. Given that the country has one of the youngest populations in the world by average age, Kenya is aware that investment in social services will be a key component of supporting the Kenya Vision 2030 goals of transforming into a middle-income country. The new Health Act, 2017 further codifies constitutional…
The increasing need for skilled labour is both a cause of and a requirement for accelerated growth across markets. This demand for technical specialists is often most concentrated in the sectors that are vital to economic advancement, including infrastructure, oil and gas exploration and extraction, and value-add processes for agricultural commodities. Efforts to expand this expertise locally,…
In recent decades, the pharmaceutical market has expanded its geographical reach. This trend appears to be here to stay; in a survey of major pharmaceutical firms conducted by global consulting firm PwC’s Strategy& team, more than half of respondents anticipated that over 30% of their global sales would originate in emerging markets by 2018. Even in the most newly opened markets, drug…
