Kenyan businesses are bracing for another turbulent year ahead, just months after Gen Z-led demonstrations rattled the economy.
Political instability and civil unrest have now overtaken economic volatility as the biggest risks facing companies, according to the World Security Report 2025 by Allied Universal and G4S.
The report shows that 45% of Kenyan Chief Security Officers (CSOs) rank political instability as their biggest concern, followed closely by civil unrest at 43% — both well above regional averages. More than 1 in 5 firms (21%) expect to be directly affected by protests or demonstrations in the next year, the highest rate recorded anywhere in Sub-Saharan Africa.
While fears of unrest are rising, there is a glimmer of optimism on the economic front. Concerns over economic instability have dropped to 41%, down from 52% last year. However, fraud remains the leading external threat, cited by 41% of companies — largely driven by financial pressures.
“Political and civil unrest can have an immediate and costly impact on businesses and investor confidence, and security leaders are preparing to bolster their physical security programmes in response,” said Laurence Okelo, Managing Director of G4S Kenya. “The predicted easing of economic instability provides some room for optimism, but companies must continue building resilience through security upgrades, workforce safety, and contingency planning.”
According to the study, 79% of Kenyan firms plan to increase their physical security budgets — among the highest in Sub-Saharan Africa. Their top investment priorities include new technology and infrastructure (83%), risk assessments (71%), and regulatory compliance (66%).
The World Security Report 2025 was commissioned by Allied Universal®, the world’s leading security and facility services provider, through its international business G4S. The research surveyed 2,352 Chief Security Officers (CSOs) in 31 countries, representing medium and large global companies with combined revenues exceeding $25 trillion.
In Kenya, 58 security leaders participated, out of 174 respondents across Sub-Saharan Africa. The report also incorporates insights from 200 global institutional investors managing over $1 trillion in assets.
Economic losses stemming from the Gen Z-led protests have been substantial, especially in the retail and hospitality sectors. Nearly half of Kenyan companies (45%) reported revenue losses due to security incidents, while many also faced rising insurance premiums — the highest rate in the region.
Institutional investors echoed these concerns, warning that a major security incident could wipe out up to 32% of a listed company’s value.
“Consistent with the 2023 findings, fraud continues to dominate as both an internal and external threat across the region, closely linked to economic instability,” said Christo Terblanche, Regional President of G4S in Africa. “Despite these challenges, there are encouraging signs, including increased investment in smart security infrastructure and AI-powered surveillance technologies.”
