The Central Bank of Kenya (CBK) has revealed that Kenyan banks are set to increase their workforce in 2025, with a majority of institutions planning to hire more employees.
According to a CBK report conducted in May, banks are expected to outperform their non-banking counterparts in employment growth, reflecting a strong hiring trend driven by expansion and digital transformation.
Respondents were asked about whether they expected to increase the number of employees in 2025 relative to 2024. The results showed mixed expectations by banks and non-banks.
CBK Explains Why Top Sectors Will Hire More Employees
Banks largely expect to hire more in 2025, supported by continued branch expansion, adoption of digital strategies, and replacing exiting staff.
Non-bank players had mixed expectations about hiring in 2025.
34 per cent of the respondents indicated that they would not hire due to rising operational costs, increased taxes and levies, delayed government payments, and plans to leverage ICT to reduce manual operations.
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On the other hand, 34 per cent of the respondents indicated that they would hire to support business expansion, replace existing staff, and attract new talent.
Banks and the Transport Sector will Hire More
Banks appear optimistic, with 44% of respondents indicating they will definitely increase employment and another 44% stating they probably will. Only 7% probably won’t, while 4% definitely won’t hire.
In agriculture, 16% say they will definitely hire and 26% say they probably will. A significant 42% probably won’t hire, while 16% definitely won’t.
In manufacturing, expectations are more cautious: 15% definitely will hire, 33% probably will, 30% probably won’t, and 22% definitely won’t.
The trade sector reflects the highest pessimism, with only 9% definitely expecting to hire and 29% probably will.
Meanwhile, 35% probably won’t and 26% definitely won’t—the highest “definitely won’t” figure across all sectors.
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Construction leans toward the negative, as it will not definitely hire. In this sector, 20% will probably hire, 40% probably won’t, and 40% definitely won’t.
In the transport sector, 75% will probably hire, while 25% probably won’t.
At the same time, in the hotel sector, 17% say they will definitely hire, 34% say they probably will, 34% probably won’t, and 18% definitely won’t.
The report also showed that the number of full-time employees is expected to increase to support the increased business activity, particularly in the agriculture sector.
Demand orders and growth in sales were highest in the manufacturing sector, while the production volumes and purchase prices (input costs) were highest in the agriculture sector, largely on account of seasonality factors in line with the long rains period.
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