Kenyan businesses registered a solid improvement in the health of the private sector in November. A steep increase in new work allowed firms to raise output at a faster pace.
Kenyan private sector companies saw a solid improvement in business conditions in October, as new orders rose at a sharp rate, albeit slightly softer than in September.
A sharper upturn in new business at Kenyan companies fuelled a stronger improvement in operating conditions during September.
June survey data pointed to a marked improvement in the health of Kenya's private sector, as businesses drove up activity in line with an accelerated rate of growth in new business. Firms also recorded a sharp increase in workforce numbers, while expectations for output over the coming year improved to the highest in the survey history.
Stanbic Holdings Plc posted KSh6.3 billion profit after tax last year, a 46 percent growth from the previous year’s KSh4.3 billion, driven by growth in customer loans and deposits.
Operating conditions in Kenya’s private sector saw another solid uplift at the start of the year, despite the rate of improvement edging down from December. Output and new orders continued to expand sharply.