Kenya has been one of our outperforming consumer markets over 2015 and 2016 and is set to accelerate further in 2017. That being said, we note that our forecast is tempered by rising oil prices, a slowing economy and the risk for uncertainty with the August 2017 election. We believe that spending is not hitting its high potential, with risks pointed to the downside over the coming year.
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Thanks, BMI Research