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# [KENYA / AFRICA] PMI October 2026: Kenya leads Africa at 55.0, a five-year high
- URL: https://businessoi.media/en/kenya-afrique-pmi-octobre-2026-le-kenya-domine-lafrique-avec-55-0-son-meilleur-score-depuis-cinq-ans-en/
- Published: 2026-11-07T02:52:24.000Z
- Updated: 2026-11-07T02:52:24.000Z
- Description: PMI at 55.0 in October 2026, a five-year high: Kenya takes the lead in African private-sector growth, ahead of Nigeria (53.6) and Uganda (53.8). South Africa is the only economy in contraction.
- Author: Emmanuel TAOCHY
- Tags: Kenya, Afrique, Économie, Revue matinale, #en

Kenya's private sector recorded its strongest expansion in five years in October 2026\. With a PMI (Purchasing Managers' Index) of **55.0**, Kenya tops the eight major African economies tracked by S&P Global, well ahead of Nigeria (53.6) and Uganda (53.8).

## A surge of historic proportions

The acceleration is striking: Kenya's PMI stood at 52.5 in September 2026\. The 2.5-point monthly jump reflects a convergence of favourable factors. New orders rose at a solid pace, driven by stronger household purchasing power, easing inflation and successful product launches across several sectors.

According to Christopher Legilisho, economist at Standard Bank, «inflation expectations are anchored» — a strong signal of macroeconomic credibility. Hiring is also at its most robust pace since 2023, with the labour market absorbing the jobs generated by the recovery. One caveat: margins remain under pressure from raw material costs and a tax environment businesses still view as burdensome.

## Nigeria stays resilient, South Africa falls into contraction

Nigeria, the previous leader, falls to third place (53.6) while maintaining twelve consecutive months of expansion — a performance few African economies can match. Nigeria's headline inflation slowed to **16.02%** in October from 18.02% the previous month, though business confidence hit its lowest level since May.

Africa PMI rankings (October 2026): Kenya 55.0 · Uganda 53.8 · Nigeria 53.6 · Zambia 51.3 · Egypt 51.1 · Mozambique 50.8 · Ghana 50.1 · South Africa 49.0 (the only country in contraction).

South Africa stands alone in the red at 49.0 — its sharpest decline in eight months — despite business confidence reaching a twelve-month high. The paradox is explained by persistent load-shedding and sluggish domestic demand.

## Why it matters

For the Indian Ocean region, Kenya's results carry direct relevance. Nairobi is the natural gateway into East Africa for many businesses from Mauritius, Réunion and the Comoros. A rebound in Kenya's private sector stimulates trade flows, regional investment and the logistics corridors that serve the entire basin.

The World Bank projects sub-Saharan Africa's GDP growth at 3.8% in 2025 then an average of **4.4%** for 2026-2027 — Kenya, with its record PMI, is helping pull that average higher.

*Sources: S&P Global / Businessfront, Standard Bank Research, World Bank.*