The review further assesses major 2025 policy reforms, including landmark tax restructuring and the Investments and Securities Act, which modernise regulation, expand the fiscal base, enhance capital market supervision, and support institutional transparency. These reforms, alongside coordinated monetary and fiscal actions, are expected to drive improved investment flows, market confidence, and structural efficiency in the coming year, while also outlining the risks presented by pre-election spending and potential FX pressures.

Sector-by-sector analysis reveals varied but resilient performance across banking, oil and gas, consumer goods, agriculture, telecommunications, cement, power, and mining. Recapitalisation efforts, infrastructure projects, improved production output, and stronger operational discipline underpin near-term growth prospects, even as companies continue to adjust to funding costs, regulatory shifts, and evolving market conditions.

The report provides a forward-looking 2026 outlook across base, optimistic, and downside scenarios, equipping investors, policymakers, and businesses with a data-driven perspective on opportunities and emerging risks.

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