Government spokesperson Isaac Mwaura has announced that the recent wave of protests has cost the nation over Ksh.6 billion due to widespread business closures and property damage. During a press briefing on Thursday, Mwaura explained that the protests held every Tuesday and Thursday since June 18, 2024, have severely impacted the country’s economy, resulting in billions in losses.
Mwaura detailed that many businesses were looted and properties destroyed by individuals who infiltrated the initially peaceful protests to incite chaos. He warned that the economic situation could worsen if the protests continue.
“We empathize with the business people who suffered significant losses as their businesses remained closed. The country has lost approximately Ksh.6 billion due to the demonstrations, according to the Kenya Revenue Authority (KRA),” Mwaura stated. “If the protests persist, we face a substantial negative impact on this financial year’s economy and a significant tax deficit of Ksh.346 billion due to the rejection of Finance Bill 2024.”
Mwaura appealed to the youth to halt the demonstrations and engage in dialogue with the government. He noted that President William Ruto has shown good faith by addressing several demands from the youth, including firing his cabinet, dissolving 47 state corporations, halting the appointment of Chief Administrative Secretaries, and rejecting the Finance Bill 2024.
“We make a passionate appeal to the youth to reconsider their plans and stop the demonstrations. The government reaffirms that the president has heard your concerns and is ready to act on them, as demonstrated by recent developments,” Mwaura added.
The protests have been driven by the youth’s frustration with the opulence displayed by government officials and their calls for the withdrawal of the Finance Bill, accountability, and good governance. They have also demanded President Ruto’s resignation, attributing the country’s economic woes to the old political class.
