Contracting Prices or slumping economy?

📈 Kenya’s Wholesale Prices Soften in Q3

Producers are seemingly responding to the series of interest rate cuts the CBK has instituted over the last two monetary policy meetings. In the latest data from the KNBS, wholesale prices in Q3 this year fell 3.6% lower than the prices recorded in the 3rd quarter of 2023 and 2% lower than prices recorded in the 2nd quarter of 2024. However, the slumping Producer Price Index could be a signal to a contracted economy and not simply a decline in costs. As consumer demand slows down, producers are forced to slash prices. Here is how the PPI looks like.

💡Power Outages Rise by 21% in FY 2023/2024, Surpassing EPRA Limit

EPRA had set a limit to the frequency of power outages and interruptions that customers can face every month to 5 hours. In its latest report, the regulator determined that system interruptions lasted for an average of 10 hours every month in 2023/2024 FY. This was an increase from the average outage frequency of 8 hours in the preceding year. Only planned power interruptions sat beneath the regulator's limit of 3 hours. Also read about how different sectors consumed electricity in FY 2023/2024.

💻 African startups raised more than US$600 million in Q3

The period between July and September this year saw the highest amount of funds startups in Africa have raised through the year. While difficulties still persist in the ecosystem, optimism abounds that it won't be long before investors comfortably pump more money in a sector that has suffered deeply from macroeconomic strain. Once again, Fintech led the sector bagging 57% of funding, followed by energy-tech with 31%. Here are some of the startups that raised most funding in Q3.

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