STORY: Francis Ochieng is struggling to come to terms with the damage done to his Nairobi business.
Days of anti-government protests in Kenya have been marked by vandalism and looting.
Ochieng said he lost nearly $10,000 when his shop was set on fire.
“It’s hard. I don’t know where to start. I have a family. I have a wife and a small child and children who go to school. So I haven’t eaten anything since that day. You know what I’m in now, I don’t know where to start.”
:: June 26, 2024
Another man who appears to be calculating the cost of the unrest is Kenya’s President William Ruto.
“I will not sign the 2024 Finance Bill.”
His withdrawal of support for the Finance Bill has complicated efforts to tackle Kenya’s heavy debt burden.
Public borrowing is at 68% of GDP, higher than the 55% recommended by the World Bank and IMF.
The IMF has called on Kenya to meet revenue targets to access more funding.
The unpopular finance bill sought to raise $2.7 billion through taxes on items such as bread, cooking oil and diapers.
But now Kenya is shifting gears from increasing revenues to cutting spending.
Premier Ruto has said he will tackle austerity measures, starting with cuts to the presidential budget.
But political analyst James Shikwati said the protests revealed deeper problems in Kenya.
“We have the Finance Bill, but the government is implementing measures to expand the tax base that are actually stifling or destroying businesses, particularly businesses that employ young people.”
:: File
Shikwati said Ruto’s portrayal of himself as a champion for low-income “hustlers” during the election campaign two years ago had backfired on him and young people were “really angry at him”.
Some activists say they still don’t believe the government will try to implement tax increases.
And many have vowed to continue calling for Ruto’s resignation.
