AGP Executive Report

Power: Kenya plans 34 geothermal wells to add 421MW by 2030, alongside battery storage, as rising demand deepens reliance on electricity imports. Markets: NSE share trading hit Sh395bn in nine months, more than double last year’s full-year turnover; brokers earned up to Sh14bn in commissions. Consumer Services: MultiChoice is cutting DStv prices from November, with its entry package at Sh750, as it tries to win back subscribers. Construction: The Eastleigh building collapse has renewed scrutiny of safety and enforcement, after officials said the structure lacked an occupation certificate. Agriculture: More farmers are turning to banks and Saccos for credit, mainly to buy inputs and pay labour costs. Infrastructure: Cancelling the Rironi–Mau Summit road contract could expose taxpayers to as much as Sh180.7bn in compensation.

Industrial Investment: President William Ruto is due to break ground on Devki Group’s KSh70 billion cement and clinker plant in Kitui, which is expected to create jobs and expand local manufacturing. Manufacturing: Kenyan e-motorcycle maker Roam won a continental manufacturing award; 40% of Roam Air’s manufacturing value now comes from East African suppliers. L’Oréal’s Nairobi factory also won top resource-efficiency honours after increasing production while reducing environmental impacts. Retail Capital: Quickmart’s planned KSh15 billion IPO has drawn up to KSh7.12 billion in cornerstone commitments, though part of IFC’s pledge still needs board approval. Digital Risk: Kenya recorded nearly 2.7 billion cyber threat events in the latest quarter, with web application attacks up 57.62%, raising risks for businesses and financial services. Carbon Markets: The government warns that weak oversight and exploitative contracts could leave communities underpaid for land and forest carbon projects. Construction Oversight: After the Eastleigh building collapse, the ODPP says Nairobi County has not sent it an inquiry file on the project, sharpening questions over enforcement of building rules.

Construction Safety: Four people have been rescued from the Eastleigh building collapse as questions mount over approvals and enforcement. Architects are calling for a nationwide building audit and release of past investigation reports. Pipeline & Energy: Pension funds accepted Sh9.04 per share in Dangote’s KPC deal after a dispute over a 46-cent premium; Ruto says the sale protects public value. Fuel Costs: Kenya passed through 52% of international petrol price changes and 62% for diesel between February and September, leaving businesses exposed to higher transport and operating costs. Circular Economy: Discarded office computers can still hold sensitive data and resale value. Kenya generated 88,000 tonnes of e-waste in 2022, but recorded no formal collection. Trade & Farming: Demand for modern warehouses is rising with e-commerce and manufacturing, while irrigation farmers are exploring cooperative marketing and value addition to improve returns.

Construction Safety: Rescuers continue searching after an Eastleigh high-rise collapsed, with five people still missing. The building’s ground-floor shops were operating, renewing calls for tighter checks and enforcement. Construction Market: Big 5 Construct Kenya closed with more than 150 brands from 25 countries reporting business leads and strong demand for building products. Energy Infrastructure: Dangote’s 24.76% stake in Kenya Pipeline has lifted the company’s shares; President Ruto says the planned state share sale must secure fair value for Kenyans. Transport: Treasury is weighing Sh42.26 billion in toll concessions for Nairobi’s Southern and Mombasa’s planned Northern bypasses. Regional Trade: Kenyan and Tanzanian regulators are working to align food-testing certification and reduce cross-border trade barriers. Dairy: Drought is squeezing milk production, prompting Ruto to back alternative dairy options as farmers face scarce pasture and rising feed costs.

Construction Safety: Rescuers pulled survivors from the Eastleigh building collapse as the search continued; engineers and police are investigating possible regulatory breaches, renewing scrutiny of Nairobi’s construction oversight. Energy Investment: Dangote’s 25% stake in Kenya Pipeline lifted the company’s shares 18% in two days. The deal could link KPC’s network to his planned refinery, while a further US$1.5 billion investment is planned. Food Production: Kenya is looking to India’s irrigation and rice-processing models to boost local output; the country produces about 300,000 tonnes of the 1.1 million tonnes of rice it consumes each year. Nuclear Energy: NuPEA will lead development and operation of a Sh36.7 billion research reactor at Konza, a step toward building local nuclear expertise.

Construction Safety: Rescuers searched for seven people after a 16-storey Eastleigh building collapsed. Nairobi officials say construction plans were not approved, and the building lacked an occupation certificate, raising fresh questions about enforcement and developer accountability. Oil & Gas: Kenya is targeting its first commercial crude export from Turkana on December 1, while Aliko Dangote’s $327 million purchase of a 25% stake in Kenya Pipeline Company signals growing private investment in the sector. Ports & Logistics: The government has opened a $1.17 billion Mombasa and Lamu port concession programme to private investors; KPA plans to co-invest in the deals as Kenya seeks to expand trade capacity. Energy: KenGen has appointed commercial services chief Ronoh Kibet as CEO from February 2027, bringing experience in geothermal development and project delivery to the state power producer.

Construction Safety: Two people were hospitalised and 26 previously reported missing were accounted for after a building under construction collapsed in Nairobi’s Eastleigh district. The structure lacked an occupation certificate, renewing scrutiny of enforcement as a national audit found 87% of buildings inspected last year failed standards or lacked approvals. Energy Infrastructure: Aliko Dangote’s $327 million purchase of a 25% stake in Kenya Pipeline Company signals a major push to expand regional fuel infrastructure. Ports: Kenya Ports Authority plans to co-invest in Sh79 billion in Mombasa and Lamu port concession deals, aiming to boost capacity and trade. Agriculture: Nairobi coffee auction sales rose 27% to $6.78 million, offering a bright spot for exporters.

Construction Safety: A multi-storey building under construction collapsed in Nairobi’s Eastleigh on Friday, with people feared trapped as rescue teams searched the rubble. The cause is unknown, renewing scrutiny of building standards amid the city’s construction boom. Energy Infrastructure: Aliko Dangote acquired a 24.76% stake in Kenya Pipeline Company for about $327 million, part of a planned regional fuel distribution network. Treasury says the sale was a commercial deal, amid political questions over the transaction. Ports and Logistics: Kenya Ports Authority will co-invest Sh7.79 billion in the first phase of port concessions, worth an estimated Sh79.69 billion, covering assets at Mombasa and Lamu. A second phase is expected to bring total concession investment to about Sh151.9 billion. Agriculture: Nairobi Coffee Exchange sales rose 27% to Sh879.6 million as volumes increased 16.5% to 17,442 bags. The average price reached Sh41,074 per 50-kilogram bag.

Energy: Aliko Dangote has bought a 24.7% stake in Kenya Pipeline Company for about Sh42.5 billion, lifting its share price nearly 8% and advancing plans for a pan-African fuel network. Seven fuel tankers are also due at Mombasa, offering relief amid supply concerns. Infrastructure: Treasury estimates the Naivasha–Malaba SGR extension will cost Sh651 billion, up Sh148 billion on an earlier estimate, with most funding expected from external financiers. Manufacturing: Kenya’s industrial sector faces a tough climb, with manufacturing stuck at 8% of GDP as calls grow for tax relief and cheaper loans for local producers. Technology: Kenyan firm STL hosted regional partners to explore semiconductor design and manufacturing cooperation, including skills development and knowledge transfer. Agriculture: The Met forecast short rains in 45 counties, with storms posing flood risks; meanwhile, authorities recovered 55 bags of subsidised fertiliser allegedly being sold illegally in Migori. Investment: Kenya hosted the first African satellite forum for the Financial Street Forum, bringing government, finance and development leaders together to discuss investment and BRI financing.

Energy Infrastructure: Aliko Dangote has acquired about a 25% stake in Kenya Pipeline Company for roughly Sh42.5 billion, part of a planned African fuel network and a proposed refinery in Lamu. The deal puts strategic infrastructure and regional fuel supply in sharper focus. Fuel Costs: EPRA says pump prices may keep changing with global oil and shipping costs, as Kenya relies on imported refined fuel. Trade and Logistics: DHL reports an 18% rise in Kenyan heavyweight shipments, while its sub-Saharan African total grew 10.5%, pointing to stronger demand for cross-border freight. Manufacturing and Standards: KEBS intercepted prohibited used undergarments in a mitumba shipment and reaffirmed full inspections of imported second-hand clothing. Agriculture: Industry stakeholders are urging the government to implement the extension-services policy, citing severe staff shortages that limit support to farmers.

Energy: Aliko Dangote has bought a 25% stake in Kenya Pipeline Company for about $327 million and is proposing a further $1.5 billion investment to expand its network. The move strengthens his regional fuel-distribution ambitions alongside a planned refinery in Lamu. Agriculture: Makueni has set aside Sh50 million to buy mangoes this season, with plans for an aggregation centre, cold storage and an export push to Oman to cut losses and improve market access. Construction: Big 5 Construct Kenya has brought more than 150 companies to Nairobi, as suppliers target housing and infrastructure demand and local industry seeks a bigger role in supplying the region. Retail Investment: A UK government-backed fund plans to invest Sh1.94 billion in Quickmart’s IPO, deepening foreign participation in Kenya’s capital markets.

Energy: Aliko Dangote has acquired a 25% stake in Kenya Pipeline Company for about $327 million, adding fuel distribution infrastructure to his planned $16 billion Lamu refinery. The Port of Lamu has received a second shipment of refinery machinery, including 154 pieces of equipment. Agriculture and Fisheries: Kenya’s fish production rose 12.3% in 2025 to 189,150 tonnes, lifting its value nearly 39% to KSh54.86 billion. Meanwhile, the CBK warns that dry weather, higher fuel and transport costs could push up prices for milk, flour, sugar and peas. Construction: Italy’s pavilion at the Big 5 Construct Kenya trade fair brings 21 firms showcasing construction technology, equipment and materials. Technology: Two Kenyan AI startups each won US$5,000 at Meta’s inaugural Kenya Pitchathon, with solutions for remote radiology and learning access.

Retail Investment: A UK government programme will invest Sh1.94 billion for a 6.5% stake in Quickmart’s planned IPO, matching an IFC commitment and backing the retailer’s expansion. Dairy: President William Ruto announced a KSh65-per-litre minimum price for farmers, as producers face rising costs and supply pressures. Energy: A second shipment of 154 pieces of construction equipment has reached Lamu for the planned Dangote refinery; Ruto says Kenya expects to begin exporting Turkana crude in December. Agriculture and Storage: The Treasury plans 21 privately operated grain warehouses across nine counties to strengthen storage and reduce farmers’ reliance on middlemen. Transport and Manufacturing: New-vehicle sales rose 27% in the first nine months of 2026, led by trucks and commercial vehicles as government payments restarted road projects. Kenya’s weaker shilling against the Ugandan currency, meanwhile, threatens demand for its manufactured exports.

Energy Investment: President William Ruto defended the transfer of a 25% stake in Kenya Pipeline Company to private investors for about Sh42 billion, saying it would help finance strategic infrastructure. The buyers have not been publicly identified. Refinery Development: A second shipment of heavy machinery has arrived at Lamu for Dangote’s planned $17 billion refinery, which is designed to supply East African fuel and support petrochemical, fertiliser and power production. Fuel Costs: Global shipping disruptions are driving pump-price pressure, raising costs for manufacturers, farmers and transporters; activists are demanding tax relief and greater transparency in fuel pricing. Dairy Industry: Ruto says farmers will receive Sh65 per litre of milk from October, plus a quarterly Sh2 bonus, as Kenya faces a milk shortage despite record production. Infrastructure Costs: A court has ordered the Kenya Airports Authority to pay more than Sh1.25 billion over the terminated Nanyuki airstrip contract; interest has pushed the amount to about Sh2 billion before costs.

Minerals and Energy: African Mining Week delegates urged local processing of critical minerals, with regional hubs proposed to create jobs and keep more value in Africa. Agribusiness: Makueni plans to concession its Sh1 billion Kalamba fruit plant to a private operator, aiming to lift processing and returns for farmers. Financial Services: Nedbank has acquired a 66% controlling stake in NCBA for about Sh110 billion; the bank will retain its Nairobi headquarters, brand and NSE listing. Business Funding: A new report puts the financing gap for Kenyan Black-owned and -led businesses at $23 billion, highlighting a major barrier to growth. Trade: Kenya’s imports from India rose 92% to Sh282 billion from March to August, making India the country’s second-largest source of goods after China.

Manufacturing: Caparol and Kenyan partner Nasib Industrial Products plan to double local paint production, positioning Kenya as a supply hub for East Africa. Urban Development: Kenya Railways has outlined a Sh30 billion Nairobi Railway City on 438 acres, with affordable housing, a new multimodal station and commercial zones planned through a public-private partnership. Agriculture: A dry spell is disrupting fresh milk supplies, exposing gaps in dairy policy as the government promises lower prices and expanded New KCC production. Trade and Logistics: KPA says it will expand port capacity as cargo volumes rise, including through Mombasa’s Berth 19B and Dongo Kundu projects. Business Finance: Kenya climbed to fifth in Africa’s financial markets index, though weak market depth and pension-fund development remain hurdles to turning the gains into more business financing. Digital Payments: Mastercard and Moovn signed a five-year deal to expand cards, online payments and transfers across East Africa, with Pay Local rolling out in Kenya and Tanzania.