The Kenyan government has announced a staggering Ksh.6 billion loss due to a recent surge in protests.

According to spokesperson Isaac Mwaura in a press briefing on Thursday.

Mwaura revealed that the economic toll from these demonstrations has been severe, with businesses shuttered and properties damaged or looted.

Since June 18, 2024, the nation has experienced a series of protests every Tuesday and Thursday, which led to significant financial setbacks.

“We cannot ignore the pain of business owners who faced immense losses as their operations were halted during the protests,” Mwaura said.

“The Kenya Revenue Authority (KRA) estimates that the overall loss to the economy has reached approximately Ksh.6 billion.”

Mwaura also expressed concern about the ongoing protests’ impact on the economy.

He warned that continued unrest could lead to even more significant financial problems this year,.

Compounded by the rejection of the Finance Bill 2024, which created a Ksh.346 billion tax gap.

Mwaura made a heartfelt appeal to the youth to end the protests and engage in dialogue with the government.

He noted that President William Ruto has already made concessions to address some of their demands.

Including firing members of his cabinet, dissolving 47 state corporations, and halting the appointment of Chief Administrative Secretaries.

Finance Bill protests

“The President has responded to the concerns raised by the youth,

demonstrating his willingness to address their issues,” Isaac Mwaura stated.

“We urge the youth to reconsider their plans and stop the demonstrations now that many of their demands have been met.”

The protests, sparked by dissatisfaction with government officials’ lavish lifestyles.

Further the contentious Finance Bill, blaming the old political class for the country’s economic woes.

As the situation evolves, the government hopes for a resolution that restores peace and stability, allowing the nation to recover from the heavy financial losses and move forward.