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Kenyan CEOs to cut spending amid dull economic outlook

Central Bank of Kenya Governor Patrick Njoroge. [Elvis Ogina, Standard]

Kenyan business leaders are set to cut spending for the remainder of the year amid fresh economic worries, a new survey says.

The survey by the Central Bank of Kenya (CBK) says that CEOs will also seek to diversify their businesses, and increase sales while a portion of them will consider restructuring their businesses which could lead to a freeze in expansion and salary hikes or even job losses.

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