Topicals



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Recent Topicals

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...

Sub-Saharan Africa Regional Review

Oct 5, 2025

According to the World Bank, the Sub-Saharan economy is projected to grow at a moderate rate of 3.7% in 2025, which is 0.2% points higher than the 3.5% growth recorded in 2024, and a downward revision from the January 2025 projection of 4.1%. The downward revision is mainly due to the rising trade barriers coupled with the weakened global investor confidence. The expected recovery from 2024 is primarily driven by global economic stability, and easing of monetary policy rates in the region, which is expected to boost private consumption and investment. However, most countries face the risk of increased inflation due to increased food prices resulting from drought, prompting them to increase or hol...

Global Markets Review

Oct 5, 2025

Global Economic Growth: According to the World Bank the global economy is projected to grow at 2.3% in 2025, lower than the 2.7% growth recorded in 2024. This forecast marks a significant downward revision from earlier projection in January of 2.7%, reflecting anticipated economic downturn, particularly due to rising international trade disputes and policy uncertainties. The World Bank’s growth projection of 2.3% is 0.5% points lower than the IMF’s 2025 forecast of 3.0%, which was also r...