Seven in ten CEOs expect AGOA expiry to hurt businesses
NAIROBI, Kenya, Oct 16 - Seven in ten bank CEOs and other private sector leaders expect the expiry of the African Growth and Opportunity Act (AGOA), along Kenya breaking news | Kenya news today |..
✨ Key Highlights
A recent Central Bank of Kenya Market Perceptions Survey reveals that seven in ten CEOs expect the expiration of the African Growth and Opportunity Act (AGOA) to negatively impact their businesses, leading to increased import costs and reduced export volumes.
- Kenya exported $470 million worth of apparel to the U.S. last year, supporting over 66,000 direct jobs.
- The Kenya Private Sector Alliance (KEPSA) and Parliament have urged the U.S. to renew AGOA for at least 16 years or grant a two-year transition window.
- The U.S. recently reintroduced a 10 percent reciprocal tariff on Kenyan imports under the "America First" trade framework.
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Bank CEOs Expect Credit Growth After Rate Cut; DTB Reports Rise in SME Lending - October 2025
Kenyan bank chief executives anticipate an increase in private sector lending following a recent interest rate cut by the Central Bank of Kenya (CBK). According to the CBK’s Market Perceptions Survey, this optimism is attributed to a stable macroeconomic environment and low inflation. Similarly, Diamond Trust Bank (DTB) Kenya reported a significant increase in lending to Small and Medium-sized Enterprises (SMEs), attributing it to an improving economy, easing inflation, and lower interest rates. However, the same CBK survey revealed that seven in ten CEOs expect the expiration of the African Growth and Opportunity Act (AGOA) to negatively impact their businesses. CEOs anticipate AGOA's expiry will lead to increased import costs and reduced export volumes.
