While youth unemployment is often attributed to lack of jobs, our experience suggests that many job seekers only ever apply for jobs within a narrow set of industries. Join us here every Thursday to get an overview of the Kenyan job market as we investigate the week’s news and identify industries that indicate an expansion of job opportunities.
1. Banking jobs are shaky
High profits in the banking sector may be an indication of job expansion, but warnings from the IMF of likely problems in the banking system due to poor regulation could mean massive loss of jobs in the Banking sector. Our suspicions were confirmed this week by the announcement by Co-op bank that it had spent Sh1.2B to retrench 160 employees in December. The bank is, however, outsourcing many of its services to agents. Agency banking is now reported to be worth Ksh 320bn in transactions–yes, your local KCB Mtaani agency may be the better destination for your application letter.
2. Health-related Jobs
Perhaps, there has never been a good time to venture into health work in Kenya. Doctors plan to go on strike soon and nurses were heard shouting this week on City Hall Way in the CBD. However, if you are a technical operator/ therapist with an understanding of cancer and kidney failure related equipment, the government will be looking for you very soon. Two machines are to be leased for each county for a total of Sh38bn.
3. See the Electronic Companies?
GE and Philips have been mentioned as the key providers of the above equipment, which will be provided on leasing terms. We see some technical and maintenance jobs here. Philips had been quite aggressive in the last few months, especially in pushing its household appliances through Nakumatt. French company Schneider has also entered the Kenyan market through acquisition of Power Technics Company. The company wants to reach the 230 million East Africans by setting up a manufacturing base in Kenya. Do you hear the jobs calling?
4. The French are really coming
French retail giant Carrefour has booked space at Two Rivers and The Hub Karen malls. They are currently hiring senior management and you can bet they will be going down the ladder before September when their first store opens.
5. More County Jobs on the way
Last week we highlighted pressure from civil service on the Treasury for the reduction of county wage bills. We are glad to announce that county jobs are on the way. Do you have the skills and experience to become a county administrator? The state is planning to hire 706 of them this year.