#73 ‒ dated Aug/Sept 15 ‒ Out 3 Aug Booking deadline: 15 July ‒ Material deadline: 17 July Extra circulation includes: ● BAUMA Africa ● Uganda O&G
KENYA Focus
● Nigeria
Com ● Cards & Payment ● IPAD ● EAPIC
In every issue, THE AFRICA REPORT covers Kenya s business and political news. In addition to, we dedicate every year a 24-page central Focus to Africa s leading economies. This year exclusive Focus on Kenya will be released in the August / September double issue of The Africa Report.
The engine keeps rolling Buoyed by the confidence of local and international investors, Kenya s economy looks sufficiently stable to survive the damage done by a sharp drop in income from tourism. A comprehensive analysis of Kenya s business prospects for the years to come, as East Africa s leading economy. Sector by sector analysis Overview Facing local challenges Interviews & success stories People to watch: the movers and shakers of Kenya s promising future ECONOMY. Kenya s issuance of a $2bn eurobond in June 2014 was a triumph by any standards. A rebasing of the economy to take into account new sectors also boosted the immediate prospects. The recalculation was completed in September and raised the country s 2013 gross domestic product by 25% to $53.4bn. Altogether more positive is the anticipation of local and foreign investment in the manufacturing, mining, oil and gas and services sectors.
ENERGY, OIL & GAS. Several oil and gas discoveries suggest commercial oil production within five years. After success in northern Kenya, explorer Tullow said it plans to drill more wells. The government has the goal of raising electricity production from 1,700MW to 5,000 MW by 2017.
TOURISM. Kenya is struggling to keep the key economic driver of tourism afloat. The Kenya Tourist Board (KTB) reported that arrivals in the second quarter of 2014 fell 45% to 172,258. AGRICULTURE. Agriculture typically represents about 5% of GDP, but the government is trying to boost the sector and improve food security. INFRASTRUCTURE. The economy could also receive a boost from multi-billion-dollar infrastructure projects designed to expand trade across the East African Community as member states push to implement agreements under their monetary union protocol. FINANCE, BANKS & ICT. Banks are increasingly partnering with telecommunications firms, eliminating the gap between the two sectors. Equity Bank to launch a mobile banking platform in partnership with Airtel, to rival Safaricom s M-PESA. KCB bank has also partnered with Safaricom for a mobile-banking platform. The central bank wants to strengthen the banking sector in. Banks now need a minimum 14.5% ratio of total capital to risk weighted assets, up from 10.5%. Investor interest at the Nairobi bourse has increased. The NSE is eyeing at least 37 new listings in the next 4 years