Economic Survey 2010 – Quick Hits

Capital Markets
- Volume of equities traded during the year increased from 855 million to 1.12 billion, raising the value of shares to 13.04 billion
- NSE capitalization dropped from 854 billion to 832 billion on declined share prices
- NSE 20 dropped 7.8% to 3,247 point.
- The credit referencing bureau regulation and the Anti-Money Laundering Act came into effect
- The top ten firms at the NSE accounted for 73.9% of total equities capitalization.
- There was an increase in the number of foreign investors at the NSE, who now hold 26% of the market.
- 90% of Nyaga investors were paid (what happened to the other 10%?)

Agriculture
- A substantial number of animals were slaughtered during the year due to drought (Nyam Chom was the order of the day)

Tourism
- Earnings improved to Ksh.62.5 billon representing a 18.6% increase
- International arrivals went up 24% to 1.5 million visitors despite ‘swine flu’ threats.

Transport
- Less vehicles were bought (mostly station wagons – 27k), but more motor bikes (boda bodas – 16k in 07, 51k in 08 and 92k in 09)
- Road accidents increased 36%. Leading to the drafting of the National Road Safety Action Plan 2009 - 2014.
- Established three road management agencies during the year (KeNHA, KeRRA and KURA) – why three?!
- Fuel levy raised Ksh.19.7 billion for government.

Communication
- Mobile subscribers increased by 34.2% to 17.4 million – almost half of Kenya’s population
- Demand fro fixed line connections dropped 72.4% as people shifted to mobile and wireless devices.
- Mobile phone money transfer subscribers increased to 7.7 million from 5.5 million in 2008.
- Number of sms sent by Kenyans rose from 362 million in 2008 to 3.3 billion in 2009 (wow! Facebook notifications, please call me back, insufficient funds and m-pesa/zap notifications all included)
- Kenya has 3.6 million internet users.
- The Kenya Communication Amendment Act 2009 was passed. Captures cyber crimes (waiting for a more detailed e-transaction bill to pass)
- CCK is not giving out any more TV frequencies (now capped at 81) as it prepares for digital TV.
- Fm stations increased to 303 from 268 although 9 frequencies were revoked due to hoarding.
- 55,400 new jobs were created in the communication/financial sector.

Labour/wages
- Construction sector registered the highest growth in employment rate growth due to the government road construction initiative and private building coming up
- Although private sector wages are still high, public sector is narrowing the gap.
- Wages are high in Finance, Insurance and Real Estate sectors (average 803k p.a.) – more than double the average national wage of 378k p.a
- The study does not mention Kenya’s unemployment rate.

Demographics
- Women and men between the ages of 15-35 are the majority, with 72% women and 68% men.
- 58% of women between 15-49 are married or in an informal union (with a man) compared to 51% of men (with a woman)
- Women are more than twice likely to be widowed, divorced or separated.
- Fertility rate is at 4.6 births per woman.
- Fertility in women peaks at 24 years in rural areas and 29 years in urban areas.
- 1 in 14 children die before age 5 (down from 1 in every 10)
- More than half of the women are using some kind of contraceptive (mostly injections and periodic abstinence). Central province has the highest number of women on contraceptives.
- 39% of women between 15-49 (mostly older) have been physically or socially violated (mostly in Nyanza and Western provinces)

Education
- Form 1 enrollment went up – mostly gals;
- no teachers were recruited in 2009 due to a court case about intern teachers (but recruited in April this year);
- University enrolment up 45% - mostly public/part-time students.