Kenyan consumption contracts in 5M17

Cement demand in Kenya over the Jan-May 2017 period fell to 2.5Mt compared to 2.5Mt a year earlier, according to the latest data from the Kenya National Bureau of Statistics (KNBS).

Manufacturers also cut back on production in the first half of the year, from 3.31Mt to 3.18Mt.

NIC Securities attributes the decline to a slowdown in private sector credit growth following discussions with management of cement firms.