The value of building approvals in Nairobi plummeted by over 50% in June 2025 compared to a year earlier, a sharp slowdown attributed primarily to elevated material costs. Data from the Kenya National Bureau of Statistics (KNBS) reveals a volatile period for the construction sector.

• Building approvals stood at KSh 13.7 billion in June 2025, down from KSh 29.3 billion in June 2024.
• The decline was most pronounced in the residential segment, with approvals shrinking by 56% in real terms year-on-year.
• The cost of building materials, particularly concrete, asphalt, cement, and steel, notably increased in the second quarter of 2025.

The 364-day Treasury Bill has been heavily oversubscribed for a second consecutive week in Kenya, signaling strong investor demand. This trend follows the re-opening of the 30-year infrastructure bond in early September.

• In the latest auction, KSh 20.23 billion was received in bids for the 364-day T-Bill, with the Central Bank of Kenya (CBK) accepting KSh 11.06 billion at a yield of 9.5483%.
• The CBK is the key organization involved, managing the auctions and setting policies like the Central Bank Rate (CBR).
• Investor interest is attributed to a declining rate environment, with yields on the 364-day T-Bill now approaching parity with the CBK's CBR, which was recently cut to 9.50%.

A recent TIFA survey reveals widespread economic hardship in Kenya, with most families experiencing falling incomes and limited job opportunities, significantly worsened by the Finance Bill.

• Nearly half of all Kenyan households report a total monthly income of less than KSh 20,000.
• The survey, conducted between August 23 and September 3, found that 70% of respondents feel their personal and family economic conditions have deteriorated since 2022.
• Just 25% of adults are in full-time jobs, leaving nearly one-in-four jobless, and the Finance Bill has directly affected 65% of Kenyans, primarily through increased costs of goods and services.

Rubis Kenya's first-half sales in 2025 dropped by 7% to KSh 69.1 billion, despite strong retail performance and improved financial conditions. The company also redeemed KSh 5.3 billion in fuel subsidy papers, freeing up significant liquidity.

• Rubis Kenya's revenue for H1 2025 was €455 million (KSh 69.1 billion), a 6.8% decrease from H1 2024.
• Rubis, holding the 2nd largest market share in Kenya at 15.96%, sold €34.7 million (KSh 5.3 billion) of Kenyan government securities.
• Retail service stations saw a 5% volume growth and 8% gross margin growth, while aviation fuel volumes dropped by 9%.
• Kenya contributed about 36% of Rubis' Africa segment's €1.27 billion revenue and played a key role in reducing the group's financing costs to €32 million from €44 million.