In a depressing admission on Saturday, businessman Zedekiah Bundotich Kiprop, at the helm of the Buzeki Group of Companies, revealed the distressing news that the majority of his logistics company's operations had ground to a halt.
However, the gravity of the situation isn't just in the closure of business; it lies in the hundreds of jobs lost due to the unforgiving economic climate, exacerbated by soaring fuel costs.
The toll on employment is strikingly apparent in Buzeki's revelation that 300 staff were rendered jobless.
Despite retaining some employees, the company's downsizing measures underscore the grim reality of tough economic times.
“We sent 300 staff parking. We still have some employed. Things are tough and this is the truth,” he acknowledged somberly.
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The billionaire entrepreneur, who has persistently pursued the Uasin Gishu gubernatorial seat, bemoaned the harsh business environment that led to the shutdown, emphasizing the human toll it exacted.
The once-thriving enterprise, now reduced to a mere shadow, left hundreds of employees without jobs, casting a poignant light on the broader impact of economic challenges.
"We parked trucks from November 1, 2023, as the increase in fuel prices rendered the business unprofitable,” Buzeki explained candidly, attributing the downfall to what he perceived as detrimental policies implemented by President William Ruto.
This job loss saga began in June 2023 when Members of Parliament approved a doubling of Value Added Tax (VAT) on fuel, a decision that prompted Buzeki to sound the alarm.
At the time, he had warned of downsizing, sending old trucks to the scrapyard, and allowing financial institutions to repossess vehicles acquired through loans.
Following the rise in VAT, Buzeki announced an immediate downsizing move which was also accompanied by a declaration that he would send all old trucks, including those with Euro 3 and below to the scrap yard.
Despite these early warnings, the situation failed to improve, culminating in the company's current state of near collapse.
The Buzeki Group of Companies, once a stalwart in the transport sector since its establishment in 1999, is now grappling with the fallout of job losses that have rippled through various industries, affecting manufacturing, distribution, and agriculture.
The focus now shifts to the hundreds of individuals left unemployed and the subsequent ripple effect on their families and the broader community.
As the region contemplates the ramifications of these lost jobs, the plight of the workforce becomes a poignant reminder of the human cost entwined with economic upheaval, leaving many to ponder the uncertain road ahead for those now seeking new employment opportunities.