Kenya in 2024: A year of economic challenges, impeachments and protests

EXPLAINER
Kenya in 2024: A year of economic challenges, impeachments and protests

The year 2024 has been eventful for Kenya, marked by economic hurdles, impeachment of deputy president Rigathi Gachagua and widespread protests.

President William Ruto’s administration faced significant challenges as it works to deliver on its promises amid a tough economic environment.

Economic and leadership state

Kenya’s economy in 2024 remained strained due to high inflation, a weakening shilling, and rising public debt.

The cost of living soared, driven by increased fuel and food prices, causing distress among citizens.

President Ruto’s government continued to emphasize fiscal discipline and austerity measures as pathways to economic recovery, but these policies drew mixed reactions.

While some praised efforts to attract foreign investments, others criticized the perceived over-reliance on taxation.

The Finance Bill and protests

One of the most polarizing moments of 2024 was the proposed Finance Bill, which sought to increase taxes on essential goods and services.

The bill sparked nationwide outrage, with critics arguing it burdened already struggling households. In response, mass demonstrations broke out across major cities, led by youth, opposition leaders, and civil society groups.

The protests reflected growing frustration over governance, economic inequality, and accountability.

The Adani Deal

A major development in 2024 was the controversial Adani deal with JKIA and KETRACO, a multi-billion-dollar agreement aimed at boosting Kenya’s economic and energy sectors.

While the deal promised significant foreign investment and job creation, it faced scrutiny over transparency and its long-term implications.

Critics questioned whether the deal’s benefits would truly reach ordinary citizens or exacerbate existing economic disparities. Despite the concerns, the government touted it as a milestone toward industrial growth and energy independence.

Other Notable Events

Kenya also experienced advancements in infrastructure projects, including expansions in road networks and renewable energy.

On the international front, President Ruto strengthened ties with key allies through trade agreements and diplomatic missions. Meanwhile, concerns over corruption and mismanagement continued to dominate public discourse.

In conclusion, 2024 was a defining year for Kenya, characterized by economic struggles, bold leadership decisions, and the resilience of its people.

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