The Kenya National Chamber of Commerce and Industry (KNCCI) has called on the government to expedite engagements to address the concerns raised by protestors to restore normalcy in the economy.
According to KNCCI, there was a 17% decline in export activity since the onset of the protests, reflecting a mild unstable environment.
Additionally, the Nairobi Securities Exchange (NSE) says it has lost KSh 63 billion in investor wealth over the past two weeks, pointing to declining investor confidence in Kenya’s economy steered by the violent elements within the protests.
“We are currently in the peak season for tourism, which was the fastest-growing sector in 2023 at 33.6%. However, the violent elements within the protests threaten to massively impact this sector and the millions of livelihoods that depend on it.” said KNCCI in a statement.
“While citizens have the right to protest, it has become evident that some individuals are engaging in violence, looting, and the destruction of property. Such actions are unacceptable and must be addressed promptly to ensure the safety and security of all.” they added.
KNCCI is a not-for-profit trade support institution that aims to facilitate and promote a sustainable business environment for economic growth and prosperity.
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