Kenya is Africa’s seventh largest economy, with an estimated GDP of US$113 billion. It is the fourth largest economy in sub-Saharan Africa after South Africa, Nigeria and Ethiopia. The country is working towards becoming an upper-middle income economy under the Vision 2030 development program.
President William Ruto’s administration is responsible for realizing the Vision’s Fourth Medium-Term Plan, which covers the period 2023-27 and is estimated at US$121 billion, including US$58.5 billion to be spent on infrastructure development.
Kenya’s infrastructure investment plan spans all core construction sectors including transport, power, water, health, housing and tourism.
Key report highlights
Kenya’s development spending budget for the 2024/25 financial year amounts to approximately $5.5 billion. One of the key challenges facing the Ruto government is addressing Kenya’s chronic affordable housing shortage, with demand estimated at more than 200,000 units a year. The private sector is called upon to help deliver the country’s housing programme, and rapid building construction techniques are being solicited. Another priority of the government is to attract investment to grow the tourism, sports, meetings, conferences and exhibitions (MICE) and medical travel subsectors. The aim is to increase the tourism industry’s contribution to GDP from 14% to 50% over the next 10 years. In the power sector, where demand is increasing by 5% annually, Kenya Power Generation Company is moving ahead with plans to develop 82.5MW of solar power and 100MW of wind power, while also expanding geothermal and hydropower resources, investing in battery energy storage, developing green energy parks and exploring hydrogen opportunities. It is estimated that achieving universal access by 2030 requires an investment of US$7.6 billion in the water and sanitation sector. The Kenya National Highways Authority aims to build 2,349km of roads by 2027 and develop a 50-year national highways master plan. The US$3.6 billion Nairobi-Mombasa Expressway Project is one of dozens of PPP projects underway in Kenya.
Unique value provided by the report
Make informed decisions: Gain comprehensive insight into the policies, investments and opportunities shaping the future of Kenya’s construction market. Stay competitive: Stay ahead of your competitors with the latest intelligence and strategic guidance. Maximize your ROI: The insights and data in this report are designed to help you make profitable investment decisions. Investment guidance: Identify lucrative investment opportunities and reduce risk. Regulatory clarity: Easily navigate complex regulatory environments.
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Who will benefit from reading the Kenya Construction and Infrastructure Market Report 2024?
This report provides optimal value for construction stakeholders including:
Contractors Material Manufacturers and Suppliers Financiers and Bankers Economists and Investment Analysts Policy Makers and Government Agencies Engineering Consultants PPP Investors Academics and Researchers
ConstructAfrica’s Kenya Construction and Infrastructure Market Report 2024 is your go-to guide for navigating the evolving landscape of Kenya’s construction sector. Unleash the potential of this vibrant market and stay ahead with the most reliable and comprehensive analysis available.
