Announcements Research

Low insurance penetration hamstrings East Africa’s short term insurance sector despite progressive regulatory initiatives

GCR Ratings has published the East Africa Short Term Insurance Bulletin, which discusses GCR’s 2020 short term insurance public credit ratings in Kenya, Tanzania and Uganda, and the 2021 outlook. The bulletin also presents graphic comparatives of financial performance of the sample of public ratings over the period 2015 to 2019.

Announcements Research

The Kenyan Banking Sector: Resilient in the Face of Increasing Challenges

Going into the COVID-19 pandemic, the Kenyan banking sector was already experiencing challenges from deteriorating asset quality and moderating growth. While the interest rate cap was blamed for the reduction in the lending slowdown, we believe that the asset quality issues, delayed payments by government (pending bills) and a slowdown in the real economy (i.e. the non-fiscal driven economy) were also key contributors.