Kenya loses Sh1.2b per hour of protests, chamber boss claims
Kenya is estimated to be losing about Sh1.2 billion every hour whenever the country is engulfed in a wave of protests.
Kenya National Chamber of Commerce and Industry (KNCCI) president Eric Rutto expressed regrets that the private sector is usually the first casualty of such demonstrations. This is because most of their operations across the value chain are usually halted, he said.
Rutto made the remarks while speaking in Mombasa at his first meeting with the chamber members at the coast. “Having carried out a survey during the demonstration that we had, there was an estimation that was almost like we were losing Sh1.2 billion every hour on the three days that there were demonstrations,” he said.
He said as a private sector they don’t want any interruption of the economy, noting that before the demonstration most of the hotels in Nairobi and Mombasa were fully booked, an indication that investments were thriving and “manufacturers and suppliers were happy.”
Rutto who was gracing a business networking event in Mombasa dubbed business connect, announced that the chamber is keen on supporting the private investments with the view of boosting intercounty trade across the country.
The intention, the new chamber president said, is to extend tentacles internationally with key focus on export opportunities, considering that Mombasa is the exit point and host to a number of businesses in the export industry.
“We were in the National Assembly and Senate and I am happy that we agreed to work together to see how we can have legislation that can improve the business environment so that as a country we can become competitive and grow our economy,” stated Rutto.
Abud Jamal, KNCCI Mombasa Chapter chair noted that the chamber will continue to champion the call for prompt payment of all pending bills, increased support for micro and small businesses as well as creation of a conducive business environment by addressing concerns raised by members.
“Indeed, while the business community is demanding change in different policies, what they are looking for is investment, jobs, education, training and opportunities for their children,” he said.
