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Britam Holdings released its 2024 annual report and disclosed that, on average, 50 applicants were vying for a single position
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The 10,000 job applications for 200 vacancies came at the same time as government data indicated Kenya’s economy added the fewest jobs since 2020
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Career coach Simon Ingari encouraged students to select courses that foster self-employment opportunities amid the scarcity of jobs
.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting and offers profound insights into Kenyan and global economic trends.
Amid the high unemployment rate in Kenya, Britam Holdings has revealed it received 10,000 applications for the 200 job openings it posted in 2024, highlighting the struggle for jobs in the country’s competitive market.
What is Britam’s headcount?
In its 2024 annual report, the Nairobi Securities Exchange-listed company disclosed that, on average, 50 applicants were vying for a single position.
Of the applications, just 200 were accepted, while 9,800 were rejected.
Britam’s headcount increased from 1,095 employees in 2023 to 1,142 employees in 2024, marking a rise of 47 employees.
How many jobs did Kenya’s economy create in 2024?
As Gross Domestic Product (GDP) growth slowed, the 10,000 job applications for 200 vacancies came at the same time as government data indicated Kenya’s economy added the fewest jobs since the 2020 coronavirus outbreak.
According to data from the Kenya National Bureau of Statistics (KNBS), the economy grew at the slowest rate since the COVID-19 pandemic, with an economic growth of 4.7% in 2024.
During the period under review, the economy created 782,300 jobs compared to 848,100 in the previous year.
Banks and insurance companies are among the few companies in the financial sector that have been adding full-time jobs, while many other companies in industries like manufacturing have been laying off workers.
What should graduates do?
Career development associate Simon Ingari advised job seekers to remain persistent amid scarce employment opportunities.
He recommended that professionals tailor their CVs to specific jobs to increase their chances of being hired.
Alternatively, the career coach encouraged students to select courses that foster self-employment opportunities.
“Network actively, as many opportunities come through referrals. Consider courses that equip you with skills to start your own business, such as business management, Information Technology (IT), or agriculture, given Kenya’s growing entrepreneurial landscape,” he told .co.ke.
Ingari can be reached through the email: [email protected].
Why are companies firing workers?
Due to the growing cost of conducting business, several companies sacked employees or maintained their current workforce.
Companies’ desire to hire new employees has been further reduced by the weak demand for goods and services.
This is according to the Central Bank of Kenya’s (CBK) Chief Executive Officers Survey.
The survey revealed that compared to the quarter ended December 2024, 23.9% of employers had reduced full-time jobs in the quarter ended March 2025, while 65.2% kept the headcount unchanged.
Only 10.9% hired more staff, as disclosed by the research that gathered opinions from CEOs in important industries like manufacturing, financial services, agriculture, and tourism.
