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Recent Topicals

Nairobi Metropolitan Area Commercial Office Report 2025

Mar 8, 2026

In 2025, we published the Nairobi Metropolitan Area Commercial Office Report 2024 themed ‘Supply-Heavy Market’. The report provided an in-depth analysis of the sector's performance in 2024, along with insights into future prospects and investment opportunities. According to the report, the sector experienced notable improvements, with the average rental yield improving by 0.1% points to 7.8% in FY’2024 from 7.7% recorded in FY’2023, due to improved occupancy and rental rates. Average asking rents per SQFT in the NMA increased by 1.7% to Kshs 105 per SQFT from Kshs 103, owing to economic recovery which boosted business confidence and operations. The overall occupancy rates increased by 1.2% points to 80.7% from 79.5% as a result of a slow but rising demand for physical space. Also, the report noted that, Gigiri emerged as t...

Review of Real Estate Investments Trusts (REITs) in Kenya

Feb 8, 2026

In 2025, the general Real Estate sector continued to witness considerable growth in activity in terms of property transactions and development activities. Consequently, the sector’s activity contribution to Gross Domestic Product (GDP) grew by 7.6% to Kshs 368.7 bn in Q3’2025, from Kshs 342.6 bn recorded during the same period in 2024. In addition, the sector contributed 8.6% to the country’s GDP, 0.2% points decrease from 8.8% recorded in Q3’2024. Cumulatively, the Real Estate and Construction sectors contributed 16.6% to GDP, 0.1 % points increase from 16.5% in Q3’2024, attributable to a surge in construction sector contribution to GDP by 9.3 % points, to 6.7% in Q3’2025, from a contraction of 2.6% recorded in Q3’2024. The graph below highlights the Real Estate and Construction sectors’ contribution...

The Kenyan National Social Security Fund (NSSF)

Jan 25, 2026

National Social Security schemes are created by governments to form the first pillar of social security. In Africa, Kenya was the second country after Ghana to form a national security scheme, The National Social Security Fund (NSSF), done in 1965 through an Act of Parliament (Cap 258). It is a provident fund, which provides benefits to retiring members as a lump sum rather than through periodic payments. In recent years, discussions around the growth and reform of the NSSF have gained momentum, with key considerations on how to increase coverage, especially for the informal sector,...

Kenya Macro Economic

Jan 18, 2026

Economic Growth: According to the Kenya National Bureau of Statistics (KNBS) Q3’2025 Gross Domestic Product Report, the Kenyan economy recorded a 4.9% growth in Q3’2025, higher than the 4.2% growth recorded in Q3’2024. The improved performance was largely driven by accelerated growth in key sectors, with Mining and Quarrying rebounding to 16.6% in Q3’2025 from a 12.2% contraction in Q3’2024, Construction expanding by 6.7% in Q3’2025 from a 2.6% contraction in Q3’2024, and Electricity and Water Supply growing by 3.6% in Q3’2025 from 0.9% in Q3’2024. Consequently, the economy recorded an average growth of 4.9% in the first three quarters of 2025, an improvement from the 4.5% average growth recorded...

Sub-Saharan Africa Regional Market

Jan 18, 2026

According to the World Bank’s Global Economic Prospects , growth in the Sub-Saharan Africa region is expected to rebound to 4.3% in 2026, from the estimated growth rate of 4.0% recorded in 2025 mainly attributable to the easing inflationary policies, ongoing reforms in some countries, improved fiscal support and domestic investment growth. However, the projections remain subject to key downward risks such as: If trade barriers and related uncertainty increase further, adverse shifts in trade policy may slow global growth, reduce demand for commodities like minerals and metals, and particularly affect countries heavily reliant on exports to the U.S., such as Côte d’Ivoire, Kenya, Lesotho, Madagascar, Mauritius, and South Africa Persistent global inflationary...