Protests have cost businesses Sh2.8 billion, KMA says

The Kenya Association of Manufacturers (KMA) has said that businesses have incurred losses estimated at Sh2.8 billion following the anti-government protests in the country.

Addressing the media on July 21, the association chairperson Rajan Shah said that the approximate losses have been incurred by 14 sectors that they represent.

"Therefore, the country stands to lose up to Sh2.86 billion daily if the protests continue to disrupt businesses as we have witnessed in the last two weeks," Rajan Shah read in a statement.

According to the Economic Survey 2023, the manufacturing industry contributes at most Sh1 trillion to the country's economy.

The Association states that it translates to approximately Sh2.86 billion shillings daily in value addition.

Shah further stated that the demonstration disrupted the logistics and chain network.

"The ongoing protests have dealt a significant blow to the manufacturing sector. We share the pain of most of our members who have reported that numerous businesses have experienced disruptions, hindering their day-to-day operations," Shah stated.

KMA stated that since the demonstrations started in the country it has led to uncertainty and fear for safety making it challenging for employees and consumers to travel to business premises.

Adding that the demonstrations pose a threat to foreign investors who heavily rely on a stable political and social business environment.

"Kenya's reputation as an attractive investment hub is at risk following this demonstration with an ambitious plan to grow the manufacturing sector contribution as a percentage of GDP, threefold from 7.8% to 20% by 2030," he added.

The Association has appealed to the government and opposition leaders to resolve their issues peacefully following any means provided for by the constitution.