Browsing: Kenya Association of Manufacturers (KAM)

CBK Governor Dr Patrick Njoroge during the pilot phase launch of Stawi. Stawi targets micro, small and medium scale enterprises (MSMEs) making it Kenya’s biggest unsanctioned banks’ merger. www.theexchange.africa

Kenyan Banks align for share of MSMEs’ billions

Kenya June 21, 2019

The informal sector in Kenya employs approximately 14.9 million Kenyans and contributes an estimated 28 per cent to the country’s Gross Domestic Product…

The rising global prices which have been on an upward trend since January are putting pressure on Kenya’s economy, as the country’s population continues to dig deeper into their pockets to meet the cost of living. This is in the wake of a rising inflation which rose to 6.58 per cent in April from 4.35 per cent in March, the highest increase in the cost of living in 19 months, mainly driven by high food prices. Crude oil prices have been on the rise since January affecting the transport, manufacturing, agriculture and energy sectors in Kenya.

Global oil prices pile pressure on Kenya’s economy

Kenya May 16, 2019

Global oil prices which have been on an upward trend since January are putting pressure on Kenya’s economy, as the country’s population continues to dig deeper into their pockets to meet the cost of living.

This is in the wake of a rising inflation in Kenya which rose to 6.58 per cent in April from 4.35 per cent in March, the highest increase in the cost of living in 19 months, mainly driven by high food prices.

Crude oil prices have been on the rise since January after edging up from USD59.50 per barrel in December. In January, a barrel traded at USD60.95.This went up to USD66.35 in February, USD 68.60(March) and USD73.05 in April.

Brent, which is a benchmark crude, is currently trading at USD71.90, with overall oil prices projected to surge.

Kenya which prices its oil products on the previous month’s market prices (due to the import period), …

Over 50 per cent of Kenyan manufacturers feel the sector is struggling to compete with developed countries with equal pressure coming from regional states, a study has revealed. This is in the wake of continued high costs of doing business in Kenya with the local market further being infiltrated by cheap imports mainly from China. The study has been unveiled by SYSPRO, a global provider of industry-built Enterprise Resource Planning (ERP) software for manufacturers and distributors, together with Strathmore University. The cost of energy in Kenya leads as the top factor affecting businesses.

What is hurting manufacturing in Kenya

Manufacturing May 6, 2019

33% of manufacturers in the country plan to reduce the number of full time employees

Only 48 per cent of manufacturers in Kenya have expressed optimism that the sector would grow this year, a latest survey has revealed, as investments in the country continue to face headwinds.

According to the Q1 ‘Manufacturing Barometer’ by the Kenya Association of Manufacturers (KAM), the biggest worry by industry players over the next six months (61 per cent) is the high cost of raw materials, which is making their products uncompetitive both locally, regional and in the international markets.

About 57 per cent are worried about pressure from increased wages, 54 per cent are concerned over decreasing profitability while 48 per cent fear that taxation policies in the country will affect their businesses.

Oil and energy prices which have remained high worries 43 per cent of the surveyed manufacturers in the country, the study …