• Mozambique and Ghana posted modest improvements at 50.8 and 50.1 respectively, while Egypt returned to growth for the first time in nine months, also registering 51.1. South Africa, however, remained in contraction, underscoring its divergence from an otherwise strengthening regional trend.

Kenya has once again surged to the forefront of Africa’s private sector performance, recording the fastest growth among eight major economies in November.

According to the latest S&P Global Purchasing Managers’ Index (PMI) surveys, business activity across the continent is gaining momentum, but Kenya is setting the pace with a headline PMI of 55 overtaking Nigeria to claim the top spot.

This expansion reflects a private sector moving with purpose, driven by rising confidence across industries, improved economic stability, and ongoing reforms that are translating into real economic activity. Uganda followed as the region’s second-best performer at 53.8, with Nigeria close behind at 53.6 and Zambia at 51.1.

Mozambique and Ghana posted modest improvements at 50.8 and 50.1 respectively, while Egypt returned to growth for the first time in nine months, also registering 51.1. South Africa, however, remained in contraction, underscoring its divergence from an otherwise strengthening regional trend.

Together, these figures tell a continental story of recovery and resilience, with Kenya’s private sector leading the charge and signaling a new chapter of growth across Africa.

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Kenya’s latest achievement posting a headline PMI of 55 in November 2025 and leading Africa’s private sector rankings marks a sharp contrast with much of the past decade, when growth was often uneven and vulnerable to shocks.

Over the last ten years, the private sector has weathered fiscal tightening, political transitions, and the severe disruption of COVID‑19, which pushed PMI readings below 50 and signaled contraction in key industries like tourism and hospitality.

Yet resilience emerged through fintech innovation, agribusiness expansion, and infrastructure investment, allowing the sector to rebound steadily from 2022 onward. Compared to earlier years of cautious recovery and volatility, today’s performance reflects a more confident, broad‑based expansion, with reforms and stability translating into real momentum.

In essence, Kenya’s private sector has moved from cycles of resilience and adaptation to a position of continental leadership, underscoring how far it has come in a decade.

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