We research widely to deliver unique insights.

---

Recent Topicals

---

Kenya’s Balance of Payments Report

Oct 26, 2025

In pursuit of a stable and sustainable economic future, the Kenyan government prioritizes balancing its economic policies, especially regarding the Balance of Payments. Achieving this balance is essential to ensuring stable trade relations, managing capital inflows and outflows, addressing inflationary pressures, and maintaining a favourable exchange rate system. These efforts are geared towards fostering economic growth, creating employment opportunities, and implementing strategic commercial policies, all of which play pivotal roles in Kenya's pursuit of a robust and sustainable economic trajectory. In light of this, we saw it fit to focus on Kenya’s balance of payments to analyse the current state and what can be done to improve it. We have previously tacked the subject of balance of payments in our topical titled Kenya’s Balance of Payments - released in October 2024, we explored the country's balan...

---

Nairobi Metropolitan Area (NMA) Industrial Report 2025

Oct 19, 2025

Industrial Real Estate often receives less attention compared to dominant segments like residential, commercial office, and retail Real Estate. However, in recent years, the government has actively promoted industrial activities through initiatives such as the Special Economic Zones (SEZs) and Export Processing Zones (EPZs) under the Ministry of Investments Trade and Industry (MITI). Additionally, Kenya's growing population has led to an increasing demand for commodities, fueling a rise in industrial activity. While industrial Real Estate in Kenya is often associated with manufacturing facilities and warehouses, it also includes other classes like slaughterhouses and emerging classes such as data centers, which are reshaping the sector. Given these developments, we find it prudent to analyze the Industrial Real Estate sector, with a particular focus on the Nairobi Metropolitan Area (NMA); In analyzing the Industrial Nairobi Metropolitan Area (NMA) we discuss the following;

---

Kenya Listed Insurance H1’2025 Report

Oct 12, 2025

Following the release of the H1’2025 results by Kenyan insurance firms, the Cytonn Financial Services Research Team undertook an analysis on the financial performance of the listed insurance companies and the key factors that drove the performance of the sector. In this report, we assess the main trends in the sector, and areas that will be crucial for growth and stability going forward, seeking to give a view on which insurance firms are the most attractive and stable for investment. As a result, we shall address the following: Insurance Penetration in Kenya, Key Themes that Shaped the Insurance Sector in H1’2025, Interest rates Industry Highlights and Challenges, Performance of The Listed Insurance Sector in H1’2025, and, Conclusion & Outlook of the Insurance Sector. Section I: Insurance Penetration in Kenya Insurance...

---

Sectoral Market Performance

Oct 5, 2025

Industry Report During the quarter, the following industry reports were released, and the key take-outs were as follows; GDP report Q2’2025 During the week, the Kenya National Bureau of Statistics (KNBS) released the Quarterly Gross Domestic Product Report that outlined the performance of various sectors to the GDP and below are the key take-outs related to the Real Estate sector: Steady growth in the Real Estate Sector - The Real Estate sector posted steady growth of 5.5% in Q2’2025, which is 0.4% points slower than the 5.9% growth registered in Q2’202...

---

Kenya Macroeconomic Review

Oct 5, 2025

According to the Kenya National Bureau of Statistics (KNBS) Q2'2025 Quarterly GDP Report, the Kenyan economy recorded a 5.0% growth in Q2’2025, 0.4% points higher from the 4.6% growth rate recorded in Q2’2024. The main contributor to Kenyan GDP remains to be the Agriculture, Fishing and Forestry sector which grew by 4.4% in Q2’2025, lower than the 4.5% expansion recorded in Q2’2024. All sectors in Q2’2025 recorded positive growths, with varying magnitudes across activities. Most sectors recorded contraction in growth rates compared to Q2’2024 with Accommodation & Food Services, Financial Services Indirectly Measured and Other services recording growth rate declines of 27.2%, 8.9% and 3.4% points to 7.8%, 1.4% and 1.4% from 35.0%, 10.3% and 4.8% respectively. Other sectors recorded an expansion...

---

• «
• 1
• 2
• 3
• 4
• 5
• 6
• 7
• 8
• ...
• 103
• 104
• »