The latest Central Bank of Kenya (CBK) survey reveals that CEOs remain optimistic about business growth in 2025 despite ongoing challenges such as taxation and the cost of doing business. The survey, conducted between January 13-24, 2025, gathered insights from over 1,000 business leaders across multiple sectors.
CEOs See Growth Potential Despite Economic Uncertainty
CEOs expressed confidence in the economic prospects for Kenya over the next 12 months, attributing this to expected favorable weather conditions and macroeconomic stability. Many believe their firms will expand, supported by diversification, innovation, and increased marketing efforts. However, concerns over liquidity constraints, subdued consumer demand, and high operational costs persist.
CEOs Identify Key Growth Drivers
According to the survey, customer-centric strategies, talent management, and expansion into new markets will be the primary drivers of business growth. The manufacturing and financial services sectors are particularly optimistic, citing declining interest rates and improved loan repayment as key factors.
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CEOs Highlight Business Constraints
Despite the optimism, CEOs noted several hurdles that could impede growth. High taxation, regulatory uncertainty, and inflationary pressures are significant concerns. Additionally, liquidity issues due to pending bills and limited access to credit continue to pose challenges for businesses.
Strategic Priorities for CEOs in 2025
CEOs prioritize cost optimization, efficiency improvements, and diversification to navigate these challenges. Many companies are making investments in digital transformation and talent development to strengthen their market positions.
CEOs Call for Policy Reforms
Business leaders emphasized the need for a stable tax regime and supportive policies to encourage investment and economic growth. Recommendations include easing business regulations, enhancing access to credit, and promoting local production to shield domestic firms from unfair competition.
The 2025 CEOs Survey underscores the resilience of Kenya’s private sector. Despite lingering challenges, businesses are actively pursuing growth opportunities and working to sustain economic momentum in the coming year.