The deterioration of the Kenyan private sector intensified during September, driven by an unfavourable political climate. The overall decline of the private sector was driven by sharp contractions in output and new orders.
Latest survey data indicated the worst deterioration in the health of the Kenyan private sector in the short survey history during August. This was driven by sharp falls in output, new orders and stocks of purchases. In response to lower output requirements, firms reduced their payroll numbers. On the price front, divergent trends were observed as overall input costs rose, while firms continued to reduce output charges.
SBG Securities has today launched M-Shares, the country’s first-ever mobile platform on a USSD Code *209# . On M-Shares investors can directly buy and sell shares on the Nairobi Securities Exchange (NSE) in addition to accessing real-time market information.
Uber in Kenya and Stanbic Bank have today announced a partnership that will see driver-partners currently driving someone else's (fleet owners) vehicle gain access to their own vehicles through an elaborate financing programme that will enable them start their own businesses.
July’s survey of Kenyan private sector firms indicated a further deterioration in business conditions, although at a slower and modest pace.
The Kenyan private sector activity signaled a solid deterioration in the month of June occasioned by a fall in output as new orders remained the same, the Purchasing Managers’ Index (PMI) survey released by Stanbic Bank and HIS Markit has shown.