DUBLIN, Feb. 9, 2024 /7Newswire — The “Construction Industry in Kenya 2023″ report has been added to ResearchAndMarkets.com’s offering.
As a gateway to East and Central Africa and an emerging transport and logistics hub, Kenya is the nucleus of the East African construction sector.
The construction industry is an important driver of socio-economic development and job creation. The value of construction output in Kenya increased by 4.1% in 2022 and the sector contributed 7.1% to gross domestic product. Kenya’s ambitious infrastructure programme includes the development of transport corridors aimed at supporting sustainable economic development, boosting trade with neighbouring countries and integrating communities in remote areas into the national economy.
Opportunities – A growing market for sustainably sourced natural building materials.
Kenya Airports Authority’s planned upgrade of Jomo Kenyatta International. Procurement is expected to begin in January 2024. Kenya Ports Authority will be partnering with private companies to construct additional berths at the new Lamu Port. Opportunities in affordable housing, notably in modular housing. Renewable energy is a high-growth sector. Sustainable waste management infrastructure is required, including recycling plants. Tatu City special economic zone offers tax incentives to investors. The Kenyan government encourages public-private partnerships and plans to grant concessions to private service providers for Mombasa’s port operations. The Two Rivers International Finance & Innovation Centre is a private service-focused special economic zone.
Challenges – Corruption is prevalent, particularly in the awarding of tenders.
Funding constraints have resulted in delays, project suspensions and non-payment of contractors. High level of non-compliance with construction regulations poses safety risks. Local contractors are unable to compete successfully for high-value civil engineering projects due to the dominance of foreign companies. Supply-chain disruptions persist, but are easing. The cost of construction is high and the availability of certain construction materials is unreliable. Unforeseen events, including further pandemics, extreme weather events, geopolitical risks, regional instability and security risks.
The Kenyan construction sector has grown during a period of unprecedented challenges. Despite funding challenges and project delays, Kenya is on track to achieve its target of generating 100% of its energy from renewable resources by 2030. Downside risks to growth include the country’s high level of debt and funding constraints. The enlistment of the Kenya Defence Forces to undertake public infrastructure projects is a notable initiative to reduce project costs and accelerate delivery. The government’s greater willingness to partner with the private sector and foreign investors could ease the country’s reliance on China as a source of funding. Report Coverage
This report on the construction industry in Kenya includes comprehensive information on the state and size of the industry, numbers of contactors and registered projects, infrastructure and road development, housing and renewable energy projects. There is information on notable players, labour and wages, environmental issues and input costs and bank loans and government spending on construction,.
The report includes profiles of 24 companies such as dominant Chinese companies including China Communications Construction Company, China Wu Yi Company and China Jiangxi Corporation, and local contractors such as Associated Construction, Cementers, Epco Builders, Intex Construction, Hayer Bishan Singh & Sons and Landmark Holdings. Zutari (formerly Aurecon Africa) opened its Nairobi office in July 2023. The South African company is registered with the Engineers’ Board of Kenya in civil and electrical engineering and specialises in installing transport technology. Trends
Key Topics Covered:
2. COUNTRY INFORMATION
3. DESCRIPTION OF THE INDUSTRY
3.1. Industry Value Chain
3.2. Geographic Position
3.3. Size of the Industry
4.1. State of the Industry
4.2. Key Trends
4.3. Key Issues
4.4. Notable Players
4.5. Corporate Actions
4.7. Enterprise Development and Social Development
7. INFLUENCING FACTORS
7.1. Unforeseen Events
7.2. Economic Environment
7.4. Environmental Issues
7.5. Technology, R&D, Innovation
7.6. Government Support
7.7. Input Costs
8. COMPETITIVE ENVIRONMENT
8.2. Ownership Structure of the Industry
8.3. Barriers to Entry
9. INDUSTRY SUMMARY
11. INDUSTRY ASSOCIATIONS
Companies Mentioned For more information about this report visit https://www.researchandmarkets.com/r/t7muz
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