99% of Kenyan Firms Froze May Pay as Stanbic PMI Sank to 46.6

1 articles · Updated · Kenyans.co.ke · Jun 4

99% of surveyed Kenyan firms left wage bills unchanged in May, indicating most employed workers missed salary increases despite rising living costs, Stanbic Bank Kenya's PMI showed.
46.6 was the headline PMI reading in May, down from 49.4 in April, as declining sales and weaker customer spending squeezed companies facing higher operating expenses.
New orders fell at the fastest pace since July 2025, and private-sector employers cut jobs for the first time in 16 months, with temporary workers hit hardest.
The weak pay data came less than a month after the Labour Ministry approved a 12% general wage rise and a 15% increase for agricultural workers to cushion households.