Kenya Industry Research: Corporate

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Kenyan Corporate Sector Performance Negatively Impacted by COVID-19
  • Kenya Industry Research: Corporate
  • Year : Apr 2020
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Summary

GCR expects the disruptions due to COVID-19 to have a broad negative impact across the Kenyan economy, albeit that the severity will differ from sector to sector.

Specifically, due to almost complete cessation of global and local travel, and ‘social distancing’, GCR has immediately lowered the sector risk scores for Hospitality, and Discretionary retail as we expect of a significant decrease in performance over the next three months.

Additional Information

Highly impacted sectors are those where GCR expects a severe decline in volumes and thus earnings over the expected shut-down period, and which are unlikely to be able to quickly recover the lost business post the crisis. Companies in these sectors are likely to see a deterioration in their financial stability, and business failures amongst already highly leveraged players and smaller entities is a likelihood.

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