This archive report was first published on 31 October 2019.
Kenya's formal retail sector is struggling, with informal retail spaces gaining popularity among small and medium-sized enterprises (SMEs) due to the increasing unaffordability of mall rental spaces. According to a 2019 report by Cytonn, the Kenya Retail Sector Report, released on October 31, 2019, SMEs are turning to more affordable alternatives, posing a threat to the formal retail sector.
Destination malls, however, are thriving, thanks to high rental charges averaging Sh211.6 per square foot, which is 25.5 per cent higher than the market average of Sh168.6 per square foot.
