Naema Celestine 
Felicitas Awino
The business sector in Kenya has shown significant improvements due to the government’s investments and regulatory reforms.
Various organizations have played a crucial role in advocating for appropriate policies and contributing to the country’s economy. Over the years, the economy has evolved, with companies playing vital roles in employment and innovation.
Key players in driving Kenya’s economy include financial services, Safaricom telecommunications company, and the agriculture sector. Safaricom, a leading telecommunications company, offers mobile phone services, internet, and data communication through the M-pesa platform. This platform allows users to send, receive money, and pay for services using their phones, contributing to the country’s economic development and improving people’s lives.
Among the financial services sector, the Family Bank Group has reported a profit of 1.3 billion before tax, representing a growth of approximately 24.3 percent. This growth can be attributed to increased interest and non-funded income, as well as strategic investments in safe and stable sources, leading to an expansion in the balance sheet.
Furthermore, proficient management of assets amidst the challenging economic environment characterized by high inflation led to a significant rise in revenues. The total assets surged by 10.7% to reach Ksh145.9 billion during the period analyzed. This growth was supported by a 19% surge in customer deposits from Ksh92.7 billion to Ksh110.43 billion.
These funds were allocated towards customer lending activities, resulting in a 4% increase in loans and advances to Ksh87.44 billion. Additionally, investments in government securities saw a notable growth of 29% to Ksh32.7 billion.
Additionally, the agriculture sector has played a significant role in Kenya’s economic growth. The government has implemented various policies and initiatives to support farmers and improve agricultural productivity. This has led to increased production and exports of key agricultural products such as tea, coffee, flowers, and horticultural products.
The government’s investments in infrastructure development have also contributed to the growth of the business sector. Improved road networks, ports, and airports have facilitated the movement of goods and services, reducing transportation costs and increasing trade opportunities. This has attracted both local and foreign investors, leading to the establishment of new businesses and the expansion of existing ones.
Moreover, regulatory reforms have created a favorable business environment in Kenya. The government has implemented measures to streamline business registration processes, reduce bureaucracy, and enhance transparency. This has made it easier for entrepreneurs to start and operate businesses, attracting more investments and stimulating economic growth.
Various organizations have played a crucial role in advocating for appropriate policies and contributing to the country’s economy. The Kenya Private Sector Alliance (KEPSA) is one such organization that represents the interests of the private sector and works closely with the government to create an enabling business environment. KEPSA has been instrumental in advocating for regulatory reforms and providing a platform for dialogue between the government and the private sector.
The business sector in Kenya has experienced significant improvements due to the government’s investments and regulatory reforms. Key players such as Safaricom, the financial services sector, and the agriculture sector have played vital roles in driving the country’s economy. With continued support from the government and collaboration between various stakeholders, the business sector in Kenya is poised for further growth and development.
