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Unpacking Kenya

Growth is in recovery

Standard Bank expect GDP growth to expand by 5.6% y/y in 2018 and retain their estimate of 4.8% y/y for 2017. Prolonged political risks associated with the protracted elections in 2017, alongside a drought-induced slowdown in H1:17, are the key reasons for our sub-5% y/y growth forecast for 2017.