Oxford Business Group launches new publication on East African economy

Nairobi, May 2017: A new report just produced by the global research and consultancy firm Oxford Business Group (OBG) shines a spotlight on Kenya’s ambitious infrastructural drive, which is playing a key role in boosting GDP growth.

The Report: Kenya 2017 pinpoints the opportunities emerging on the back of the country’s project pipeline, with real estate, power and transport infrastructure among the segments ripe for development.

Kenya’s ongoing industrialisation is also explored in OBG’s report, with a particular focus on the manufacturing sector, which has continued to gain momentum, despite low commodity prices and rising competition.

Having carved a niche as a major regional transit hub, transport and logistics remain at the core of Kenya’s economy. The Report: Kenya 2017 looks at the benefits that sound investment in related infrastructure has brought to the country, especially at the Port of Mombasa, which is a strategic landing point for goods earmarked for neighbouring markets.

The country’s tourism industry, now rallying after a period of decline and benefiting from heightened security support, is also analysed. Other topics examined include the government’s decentralisation drive, which has helped to produce new opportunities across several of Kenya’s lesser tapped provinces.

The Report: Kenya 2017 contains a contribution from President Uhuru Kenyatta, together with a detailed, sector-by-sector guide for investors. It also features a wide range of interviews with other high-profile personalities, including: Patrick Njoroge, governor, Central Bank of Kenya; Brigitte Zypries, federal minister of economic affairs and energy of Germany; and Akinwumi Adesina, president, African Development Bank.

Oliver Cornock, OBG’s Editor-in-Chief, said a diverse economy and strong private sector had helped Kenya to maintain its position as a regional powerhouse, viewed among investors as a  destination for FDI with a track record of sustained growth.

“Unlike many of its peers, Kenya’s economy is broad based rather than overly reliant on the extractive industries, which has given it an advantage in the current climate of low commodity prices,” he said. “Other potential strengths, such as a sizable, young workforce and promising new finds in the form of oil, gas and water reserves, will also support new growth, if harnessed effectively.”

OBG’s managing editor for Africa, Robert Tashima, agreed that while a combination of external pressures had led to slowdowns in a number of Africa’s larger economies, Kenya had so far managed to sidestep the worst of it, recording a steady growth rate in excess of 5%.

“Although there are plenty of challenges, including stubborn poverty levels in the north and a large informal sector, Kenya’s aggressive reforms to the business environment, along with a high financial inclusion rate, developed transport infrastructure and a diversified private sector, have left the country well placed to sustain its upward trajectory,” he noted.

The Report: Kenya 2017 marks the culmination of more than nine months of field research by a team of analysts from Oxford Business Group. The publication assesses trends and developments across the economy, including those in macroeconomics, infrastructure, banking and others. The Report: Kenya 2017 is available in print and online.

About Oxford Business Group

Oxford Business Group is a global research and consultancy company with a presence in over 35 countries, from Africa, Asia and the Middle East to the Americas. A distinctive and respected provider of on-the-ground intelligence on many of the world’s fastest growing markets, OBG has offices in London, Berlin, Dubai and Istanbul, and a network of local bureaus across the countries in which we operate.

The Report: Kenya 2017 has been produced with KenInvest and the Kenya Private Sector Alliance. Contributions have also been made by Kenya Association of Manufacturers,

Genghis Capital, EY and Anjarwalla & Khanna.

Through its range of products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, tourism, energy, transport, industry and ICT. OBG provides business intelligence to its subscribers through multiple platforms: Economic News and Views, OBG Business Barometer – CEO Survey, Roundtables and Conferences, Global Platform – exclusive video interviews, The Report publications and Consultancy division.

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Agreement takes Oxford Business Group’s regional research to new audiences

Oxford Business Group’s extensive range of resources is proving to be a welcome tool for users of Bloomberg Terminal who are looking to play a part in the next chapter of Africa’s growth story.

An agreement signed in late 2016 gives Bloomberg’s subscribers instant, open access to OBG’s reports, economic updates and Global Platform videos. The service, which can be accessed by running OBGR on the terminal, also provides users with blogs written by OBG’s managing editors for the regions it covers, namely Africa, the Middle East, Asia and the Americas.

Andrew Jeffreys, OBG’s CEO, said the Group’s content was proving pivotal in helping to fill an information vacuum for business leaders, at a time when significant economic developments were taking place across Africa.

“While lower commodity prices and fallout from the Arab Spring have pushed down regional growth since 2010, African nations have used the intervening years to set in motion ambitious plans aimed at fostering intra-regional development and reducing the impact of future external shocks,” he said. “These and other pan-African trends have understandably heightened demand from investors for up-to-date and reliable business intelligence which we are committed to providing through our services, including our partnership with Bloomberg.”

Karine Loehman, OBG’s regional director, added that the Group’s content on Africa highlighted the broad scope of development taking place across the region.

“Economic reforms are well under way in several African countries, including Morocco, Kenya and Côte d’Ivoire, where services and valued-added industries are expanding, while in Nigeria, we see the groundwork being laid for diversification,” she said. “Our research also maps out the rebuilding taking place in countries hit by the Arab Spring, such as Egypt and Tunisia, while analysing how South Africa, and other markets witnessing slow growth, are addressing the challenges they face.”

OBG’s managing editor for the region, Robert Tashima, added that despite challenging conditions, Africa remains a popular destination for investors, especially those prepared to look longer term for yields.

“Strong fundamentals, which include a growing working-age population and abundant resources, alongside ongoing urbanisation, have helped several of Africa markets to maintain healthy inflows,” he said. “The latest plans to boost pan-African trade, bolster regional connectivity and overhaul key infrastructural projects point to a raft of new openings for investors.”

About Oxford Business Group

Oxford Business Group  is a global research and consultancy company with a presence in over 35 countries, from the Middle East, Africa and Asia to the Americas. A distinctive and respected provider of on-the-ground intelligence on many of the world’s fastest growing markets, OBG has offices in London, Berlin, Dubai and Istanbul, and a network of local bureaus across the countries in which we operate.

Through its range of products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, tourism, energy, transport, industry and ICT. We provide business intelligence to our subscribers through multiple platforms: Economic News and Views, OBG Business Barometer – CEO Survey, Roundtables and conferences, Global Platform – exclusive video interviews, The Report publications and our Consultancy division.

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