Kenyan Economic Reports Reveal Mixed Performance and Widespread Hardship - September 2025

A recent TIFA survey reveals widespread economic hardship in Kenya, with most families experiencing falling incomes and surviving on KSh 20,000 or less. The construction sector has seen a sharp slowdown, with the value of building approvals in Nairobi plummeting by over 50% in June 2025 compared to a year earlier due to elevated material costs. In corporate results, Rubis Kenya's first-half sales for 2025 dropped by 7% to KSh 69.1 billion, though the company freed up liquidity by redeeming KSh 5.3 billion in fuel subsidy papers. In contrast, there was strong investor demand for government securities, as the 364-day Treasury Bill was heavily oversubscribed for a second consecutive week.