The recent peaceful transitions of power following elections in Senegal and Zambia demonstrate that the threat of voting-related violence in sub-Saharan Africa (SSA) has been receding in the past few years. And while it would be foolhardy to rule out any political unrest in countries holding elections in the next few months, the bigger risk for investors now lies in what their outcomes mean for future economic policy. On this front, though we do not expect any radical shifts away from investor-friendly policies, the likelihood of low levels of structural reform in South Africa and possible economic sanctions in Kenya provide some cause for concern.
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