Nairobi traders say they lost Sh2b in demos
Business
By
Harrison Ngola and Collins Kweyu
| Jun 20, 2024
Traders in Nairobi's Central Business District said they lost up to Sh2 billion during the Tuesday protests in the city.
On Wednesday, the traders were counting losses following day-long protests that led to the closure of their premises.
They blamed the police for the losses arguing the protests did not need force to quell.
"We estimate the loss is about Sh2 billion and even the Nairobi County government experienced it through poor collection of parking fees," said Nairobi Central Business District Community Chairman Wilfred Kamau.
READ MORE
Curriculum delivery is a marathon, not a sprint
Recipe for rigging: Battle looms over plan to scrap IEBC's livestreaming of election results
Why Ruto rejected Public Procurement (Amendment) Bill, 2024
Kenya shines at Zone Individual Chess Championship in Ethiopia
Police-linked brutality victims in court, claim opaque compensation process
Safe but scared...: Tales of Mathare floods survivors
Inside huge cash withdrawals from affordable housing kitty
Prof Mutua should face MPs for grilling on victims payouts
Government should address issues raised by young people without resorting to intimidation
Subaru driver in a dramatic high-speed chase after alleged hit-and-run in Nairobi
He said that future protests should be designated to particular areas so that they do not interfere with other people's activities.
"The protestors should target their respective MPs offices and air their grievances. This will ensure that our businesses are not disrupted," said Kamau.
Fridah Nduki, the owner of a small grocery store in the city centre, was one of the many traders caught in the crossfire.
"Demonstrators took advantage of the situation to break into shops," she said.
The Finance Bill aimed to raise government revenues through a raft of new tax measures, including a 2.5 per cent annual Motor Vehicle Tax, 16 per cent VAT on bread, an Eco levy on locally manufactured goods, and excise duty on locally assembled motorcycles.
The government has since dropped several of the contentious proposals, including the vehicle tax, VAT on bread, Eco levy, and motorcycle excise duty.
However, many traders argue the damage has already been done, with the protests exacerbating the economic burden that has dampened consumer spending power.
"Even with the revisions, the Bill will affect my customers, reducing my sales," Nduki said, highlighting the Bill's indirect toll on small businesses.
Joseph Otieno, another trader, recounted a different challenge arising from the chaos: a breach of trust with his employer, who accused him of colluding with protestors described as his "goon friends".
Otieno challenged the government's confrontational approach, arguing it has only compounded businesses' losses.
"The government needs to find better alternatives to tackling protesters than chasing them in running battles that disrupt economic activities," he urged.
As Nairobi returns to normalcy, the lasting impacts of the Finance Bill tumult remain uncertain. Tuesday's events have laid bare deep-seated frustrations with economic and governance policies while raising doubts about the government's ability to navigate fiscal challenges without inflaming public anger.
Businesses now await a resolution that can restore stability and spur economic growth without further straining the livelihoods of ordinary Kenyans.
Mandatory Sh6.5 million visitor insurance rule sparks tourism fears
Foreign visitors travelling to Kenya will now be required to obtain mandatory travel health insurance with a minimum benefit limit of $50,000.Kenya seeks deeper US investment in tourism, conservation
Kenya is seeking deeper cooperation with the United States in tourism and wildlife conservation as both countries explore new partnerships to support sustainable development.Wachinga's court fight reopens Kenya Re's history of boardroom wrangles
The Kenya Re CEO claims a plan has been hatched to unceremoniously kick him out of office, reigniting the never-ending boardroom wars that have dogged the State-owned reinsurer.Uganda takes control of Kenya Pipeline as Museveni secures veto power, two board seats
Uganda has gained board seats and veto powers at KPC, raising concerns over Kenya's control of its strategic fuel transport infrastructure.Excitement as government announces opening of new tourism college at the Coast
Coast tourism players welcome the September opening of Ronald Ngala Utalii College, saying it will boost hospitality skills and workforce training.MOST READ
Mandatory Sh6.5 million visitor insurance rule sparks tourism fears
FINANCIAL STANDARD