As the largest economy in the EAC and COMESA in terms of GDP, Kenya has positioned itself as a major economic power in sub-Saharan Africa. Traditionally a largely agrarian economy, Kenya has quickly entrenched its position as a manufacturing, logistics and technology hub in the region, and this diversification forms a solid platform from which the government can generate economic growth over the c
Kenya’s retail sector is looking to recover from a slow 2017 following solid gains in occupancy rates and rental returns; however, oversupply in some regions, along with an acceleration in consumer and wholesale prices, could dampen expansion. Overall occupancy rates rose to 85.7% by the end of August, up from the 80.2% recorded at the same time last year, according to a report released by property…
In July Nairobi-based grocery retailer Naivas Supermarket inaugurated a 3250-sq-metre property in the capital’s Ciata City Mall. The opening of the new store –which occupied a space formerly held by local retailer Uchumi – raises the firm’s total number of supermarkets in Kenya to 41, with seven more due to open before the end of the year. The company announced last year that it would…
As the largest economy in the EAC, Kenya is a major player in both the region and sub-Saharan Africa as a whole. Over the past few decades, its market has transformed from being largely agrarian into one of the most diversified and innovative on the continent. It was sub-Saharan Africa’s fifth-largest economy in 2015, ranked 11th in inbound foreign direct investment and is one of the few countries…
Increasingly a mainstay of the manufacturing and retail industries, Kenya’s fast-moving consumer goods (FMCG) have shown considerable expansion in recent years, buoyed by a rising middle class, significant opportunities for regional expansion and local brand loyalty. Spending Power Rising According to a May 2016 report by US think tank the Brookings Institute, Kenya’s demographics are the single…
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. The food and beverage segment continues to dominate, leading growth in 2015 as a result of surging beverage…
The retail sector in Kenya is benefitting from rising middle-class purchasing power, robust macroeconomic growth and a surge of investment in high-end formal retail space, with a host of foreign retailers, brands and producers entering the market. Although well-entrenched local players remain dominant in the supermarket segment, the entrance of France’s Carrefour in 2016 marked an increase in competition…
Interview: Chris Kirubi How would you characterise Kenya’s progress in reaching its targets outlined in Vision 2030? CHRISKIRUBI: Kenya is currently implementing the Vision 2030’s Second Medium Term Plan covering 2013-17. The government has put in concerted effort to ensure that we meet the targets set in its vision by putting in place measures that accelerate economic growth. Public sector…
Interview: Phyllis Wakiaga What sort of regulatory reforms might help Kenya stimulate investment in manufacturing? PHYLLIS WAKIAGA: This year we had the pleasure of being recognised as the third most reformed country in the World Bank’s ease of doing business index for 2017. This showed that some of the steps we have made as a country have indeed helped in our efforts towards creating a nurturing…
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 GDP has…