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Kenya Private Sector Activity Shrinks for First Time Since August 2025
Kenya's private sector activity contracted in March for the first time since August 2025, with the Purchasing Managers' Index falling to 47.7 from 50.4 in February. The contraction snapped a six-month growth streak, driven by weak consumer demand and global disruptions exacerbated by the Middle East war. Separately, Nairobi Business Ventures, a diversified company with interests in aviation, heavy vehicle maintenance, retail, and manufacturing, issued a profit warning for the financial year ending March 2026, anticipating a significant decline in earnings due to challenging market conditions. These developments highlight the broader economic pressure on Kenya's private sector, with multiple businesses reporting difficulties stemming from weak market conditions.
Oil Prices Choppy After Expletive-Laden Trump Threat to Iran
Global oil prices experienced volatile trading following US President Donald Trump's strong threats to attack Iran's critical infrastructure if ships are not allowed to transit the Strait of Hormuz. Prices surged ahead of a crucial deadline set by Trump concerning Iran's opening of the Strait of Hormuz shipping route. In response, Kenya rejected a 60,000-tonne cargo of super petrol, preventing a potential Sh14/litre price increase for consumers, with the rejection ordered by Energy and Petroleum Cabinet Secretary Opiyo Wandayi.
