Industry Dynamics

A senior oil ministry official said last week that the crude oil deposits discovered in Kenya were not enough to build a refinery.

According to the forecast of relevant institutions, the demand for cement market in East Africa reached 14.4 million tons in 2017, and it is expected to reach 22.2 million tons by 2023. The annual growth rate of cement in 2018-2023 will reach 7.5%.

In the third quarter of 2018, 6 million pairs of shoes were imported, representing an increase of 17%.

At present, the construction industry in Kenya is booming. According to the Kenya National Bureau of Statistics, the real estate and construction industries have remained the main driver of Kenya's economic growth for the past five years.

According to the report, Kenyan firms invested in installing about 15MW of onsite solar power. This year, different firms said they planned to install an additional 26MW, with manufacturers being among the players actively taking up solar.

The African continent is currently one of the fastest growing markets in the global tire industry.

Kenya’s president has announced plans to move the country to 100% green energy by 2020, as it scales up renewable investment.

Several East African countries have agreed to ban imports of second hand clothes by next year. Rwanda, Tanzania and Uganda have already started taxing them more heavily.

Kenya has taken less than a decade to make giant strides in its energy sector. Key to this are two iconic renewable energy projects that have benefited from the decisive support of the African Development Bank: Turkana Wind Farm and Menengai Geothermal Power Station.