Kenya economic Forecast report 2023

Bar soap, used for laundry and by extension toiletry, is by far one of the most used consumer commodity in Kenya and the whole of Africa. It is only second to cooking oil, salt and onion. The market for Bar soap in Kenya is under-utilized. Until now, less than Ten manufacturers are enjoying this vast market of over 99% (40 million plus) of soap users

Bidco Africa commissioned a new 2 billion shilling washing powder plant at its manufacturing base in Thika in a move to meet the growing demand for powdered detergent across the region. The new factory was set to produce 3,000 tonnes of detergent per month. The company owns about 49% of Kenyan market share followed by Kapa oil Refinery Limited which owns 12%, with Unilever limited having 9% of the market share.

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Travel Arrangement and Reservation Services

Majority (26.5%) of the players in the industry are under tour operators followed by those working in the accommodation sector such as hotels, guest houses and lodges, accounting for 20.9%. The lowest represented business category in the industry is the airline accounting for 0.3%

The majority of the companies employ up to 10 employees since they consisted of tour operators and travel agents. They mainly target international inbound tourism market. The percentages show that most 48.6% are in businesses serving the inbound international tourism market; 45.7% domestic markets, and 5.7% serving outbound tourism market.

Employment of travel agents is projected to grow 5 percent from 2020 to 2030, slower than the average for all occupations. Despite limited employment growth, about 7,500 openings for travel agents are projected each year, on average, over the decade.

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Accounting, bookkeeping and auditing activities; tax consultancy

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Accounting, bookkeeping and auditing activities; tax consultancy

There are about 500 Auditing, accounting and bookkeeping companies in Kenya. Tax consultants were about 68 by 2020. Deloitte is one of the best-performing companies in East Africa. Double-entry bookkeeping systems are used for businesses that routinely have more complex transactions. Companies that collect income through accounts receivable and receive merchandise and inventory on credit are better-suited for this method

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Employment Services Report

Kenya is a lower-middle-income country with well-organised industrial relations, but structural challenges affect the labour market. Economic growth has been robust, along with increasing wages. However, a majority of the workforce operates in the informal economy (83%), which is shaded by non-compliance of labour regulations (including wages).

An increase in living cost has eroded incomes’ purchasing power and projections on the progress of employment by middle-class has been sluggish reaching 20% in 2020. As at 16 June 2020, 320 local employment agencies were licensed to recruit workers for placement abroad. It is not known how many unlicensed agencies are still functioning, but it is estimated that more than 1 000 members of the local criminal network were operating before the 2014 ban.

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Kenya Dairy Industry Report

This report presents a comprehensive overview of the Kenyan dairy industry, its business operating environment, competitive landscape, risk and growth drivers, and a 5 year forecast for the market that can assists market participants, lenders, investors and organization in making informed and intelligent decisions amidst market uncertainty. The report provides a strategic analysis of the dairy milk market in Kenya and describes the main market participants, demand drivers, challenges, and all other factors, influencing the development of the market.

Please Note: This report contains proprietary information from Metropol Harvest and cannot be used or stored with the intent of republishing, reprinting, repurposing or redistributing in any form without explicit consent from Metropol Harvest.
For usage requests and permission, please contact us at https://harvest.metropol.co.ke/
The data included in this document is accurate according to Metropol Harvest at time of creation