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Government spokesperson Isaac Mwaura announced Thursday that Kenya has incurred losses exceeding Ksh.6 billion due to the wave of protests experienced over the past month. Speaking at a press briefing, Mwaura detailed how business closures on Tuesdays and Thursdays since June 18, 2024, have contributed to these significant economic losses.
He said that numerous businesses were looted and property destroyed by criminals who infiltrated the otherwise peaceful protests, further exacerbating the financial impact. Mwaura noted the potential for further economic decline if the demonstrations persist, painting a grim picture for the country’s financial outlook.
“We must remember the business people who suffered losses worth billions of shillings as their enterprises remained closed. We empathize with them as they strive to recover their lost incomes. Overall, the country has lost approximately Ksh.6 billion due to these demonstrations, according to the Kenya Revenue Authority (KRA),” Mwaura stated.
He warned that continued protests could negatively impact the economy for the current financial year, especially with the rejection of the Finance Bill 2024, which aimed to generate Ksh.346 billion in revenue. Mwaura urged the youth to cease the demonstrations and engage in dialogue with the government.
Mwaura added that President Ruto has shown goodwill by addressing several demands from the younger generation, including firing his cabinet, dissolving 47 state corporations, halting the appointment of Chief Administrative Secretaries, and rejecting the Finance Bill 2024.
“We appeal to the youth to reconsider their plans and halt the demonstrations since their voices have been heard and acted upon. The government reaffirms that the president is ready to address your concerns, as demonstrated by recent developments,” he added.
The protests, largely driven by the youth, have called for accountability, good governance, and the withdrawal of the Finance Bill. Demonstrators have also demanded President Ruto’s resignation, attributing the country’s economic challenges to the entrenched political class.
This wave of protests has been notably impactful, drawing attention from various sectors, including the media and civil rights organizations, much like the stories you’ve covered in your freelance journalism career, highlighting the community’s resilience and the call for systemic change.
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