NAIROBI, Kenya- The Kenya National Chamber of Commerce and Industry (KNCCI) says the Nairobi Security Exchange (NSE) has lost Sh63 billion in investor wealth over the past two weeks due to protests.
The rage was sparked by a punitive Financial Bill that has since been withdrawn by President William Ruto, after deadly protests.
On Wednesday, KNCCI said it had observed a 17 percent decline in export activity since the protests started.
“KNCCI firmly believes in the right to protest, as enshrined in our constitution, and supports its exercise under all circumstances. However, we are deeply concerned about the instances of violence the protests threaten to massively impact this sector and the millions of livelihoods that depend on it,” the Chambers President Eric Rutto said.
He called on the Government to protect businesses from criminals who have infiltrated the protests lately.
“Such actions are unacceptable and must be addressed promptly to ensure the safety and security of all,” he said.
When they started, youthful protestors marched across major cities calling for reforms.
“In light of these challenges, KNCCI calls for calm and encourages open, constructive dialogue and collaboration among all citizens of this great nation,” he asserted.
“It is imperative that we address the concerns and protect the well-being of our country, its people, and its businesses should be our collective priority.”
