Government spokesperson Isaac Mwaura revealed in a press briefing on Thursday that Kenya has incurred losses exceeding Ksh. 6 billion due to the ongoing wave of protests over the past month. He emphasized that these financial losses stemmed from the closure of businesses during protests held every Tuesday and Thursday since June 18, 2024.
Mwaura also highlighted incidents of looting and property destruction by disruptive elements who infiltrated what started as peaceful demonstrations. He expressed concerns that continued protests could further deteriorate the country’s economy if not addressed promptly.
“We cannot forget the business people who suffered losses worth billions of shillings as their businesses remained closed. We wish to empathise with them as they strive to recoup their lost incomes. Overall, the country has lost approximately Ksh.6 billion as a result of demonstrations, according to the Kenya Revenue Authority (KRA),” he said.
“Fears abound that if the protests continue, the economy will have a negative impact in this financial year as well and we have a huge tax hole as a result of the rejection of Finance Bill 2024 amounting to Ksh.346 billion.”
Mwaura made an appeal to the youth, urging them to cease the demonstrations and create space for dialogue with the government. He emphasized that President William Ruto had demonstrated goodwill by acceding to various demands from the Gen Zs.
These actions included dismissing his cabinet, dissolving 47 state corporations, suspending the appointment of Chief Administrative Secretaries, and rejecting the Finance Bill 2024, among others.
“We make a passionate appeal to the youth to reconsider their plans to halt the demonstrations since that which they clamoured for was acceded to. The government reaffirms that the president has heard your loud voices and is ready to act on your concerns as demonstrated by recent developments,” he added.
The youth took to the streets in protest against the ostentatious display of wealth by government officials. Their demands included the withdrawal of the Finance Bill, accountability, and improvements in governance. Additionally, they called for the resignation of the president, attributing the country’s economic challenges to the old political establishment.
