The government has said that the ongoing protests by Gen-Z sparked by the Finance Bill 2024 have inflicted a staggering economic toll of approximately Sh6 billion on the nation.

Making the revelation during a press briefing at the Kenyatta International Convention Centre (KICC) Tower on Thursday, Government spokesperson Isaac Mwaura expressed deep concern over the financial repercussions of the demonstrations that erupted on 18th June 2024.

“We cannot forget the business people who have suffered huge losses as their businesses remained closed during the demonstrations,” Mwaura stated, underscoring the plight of those affected by the unrest.

Mwaura painted a grim economic outlook, warning that the protests could have a lasting impact on the country's financial stability if they persist.

“Overall, the country has lost approximately Sh6 Billion as a result of the demonstrations and fears abound that if the protests abide the economy will have a negative impact in the new financial year as well,” he added.

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In an attempt to quell the demonstrations and address the underlying grievances, the government has implemented a series of measures, according to Mwaura.

These include the rejection of the Finance Bill, the abolition of certain high-profile offices, the dissolution of the cabinet and the dismissal of the Inspector General of Police Japheth Koome.

The government has also initiated reforms within the Independent Electoral and Boundaries Commission (IEBC) and suspended the appointment of Chief Administrative Secretaries.

Additionally, a crackdown on public fundraisers and the dismissal of the Inspector General of Police have been undertaken.

President William Ruto’s direct engagement with citizens through platforms like X-Space has been cited as a step towards fostering open dialogue.

Despite these efforts, Mwaura urged the protestors to reconsider their course of action, emphasizing the detrimental impact on the nation’s economy.

“While the urge to demonstrate is strong, it is crucial that we recognise the progress made so far in addressing your concerns and allow the changes already taken and those expected to take effect for the sake of our country’s economic growth,” he pleaded.

The government spokesperson also warned against external interference, asserting that such actions could destabilize the country.

He called upon Kenyans to unite and prioritise the nation’s economic recovery.

“Your dedication to positive change is commendable, and it is now time to channel our energies into constructive actions that serve to drive our nation forward,” Mwaura concluded.