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Banks, media top spenders as advertising budgets jump 21pc
With thousands of Kenyans increasingly adopting the use of personal care products such as hair and skin care products and the mushrooming of Kenya’s beauty industry, the personal care sector emerged fifth in advertisement spend during the year, with a total spend of Sh4.9 billion.
Five sectors controlled over half of the Sh67.3 billion that companies spent to market their products in the year to June 2024, new data shows, as firms put a premium on marketing amid tough economic times.
Between July 2023 and June 2024, companies across the five sectors- media, financial services, corporate & multi-brand, communications, and personal care- spent a whopping Sh37.2 billion to advertise their products on TV, radio, and print publications, a report by the Communications Authority of Kenya (CA) shows.
