DUBLIN--(BUSINESS WIRE)--The "Construction in Kenya - Key Trends and Opportunities (H2 2021)" report has been added to ResearchAndMarkets.com's offering.
Kenya was among a small number of countries whose construction industry expanded in 2020, with output in the year rising by 11.8% in real terms.
The publisher expects Kenya's construction industry to expand further this year, by 9%, and then by an annual average of 6.1% between 2022-2025. The expansion will be supported by the government's focus on developing the country's infrastructure. Kenya's construction industry's value add grew by 6.4% year on year (YoY) in Q2 2021, preceded by year-on-year (Y-o-Y) growth of 7.3% in Q1 2021 and 16.2% in Q4 2020, according to the data released by Kenya National Bureau of Statistics (KNBS).
In order to revive the economy and drive growth in the country, in June 2021, the World Bank approved a support package of KES84.5 billion (US$750 million), which the government will use to promote infrastructure development, along with improvements in water and sanitization, urban development and housing, transport, tourism, health and education.
Moreover, through its 2022 draft budget, the government will focus on bolstering the economic recovery and progressing post-pandemic reforms. The 2022 Budget will also prioritize public healthcare, digital infrastructure, economic resilience and socioeconomic reforms.
In August 2021, the government proposed a National Budget of KES3.03 trillion (US$26.7 billion) for the fiscal year (FY) 2021/2022, which mainly focused on the 'Big Four': food security; Universal Health Coverage (UHC); manufacturing; and affordable housing.
President Kenyatta's administration plans to make its way through next year's presidential election by investing in infrastructure projects to create employment, and by giving targeted subsidies to the tourism and agricultural sectors.
The president has directed the executive to focus on the implementation and completion of ongoing Priority Projects and Programs, as set out in his Administration's Transformative Agenda for the Nation despite the challenges posed by the COVID-19 outbreak. The 2021/22 draft budget allocations towards energy and infrastructure include KES232.6 billion (US$2.1 billion) to improve and expand the existing infrastructure. Kenya also has a large pipeline of infrastructure construction projects.
The major projects at pre-execution stage include the KES2.4 trillion (US$21.5 billion) Standard Gauge Railway project, which involves the construction of a 472km railway from Mombasa to Nairobi, a 490km railway from Nairobi to Malaba and Kisumu, a 120km railway from Nairobi to Naivasha, a 262km railway from Naivasha to Kisumu, the 8.9km Kisumu Branch line, the new Kisumu port, a 107km line from Kisumu to Malaba and other related infrastructure facilities.
Scope
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Kenya, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector.
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants.
Key Topics Covered:
1 Construction Outlook
2 Construction Industry: At-a-Glance
3 Latest News and Developments
4 Project Analytics
5 Construction Market Data
6 Risk Profile
For more information about this report visit https://www.researchandmarkets.com/r/q3f069.
