The Kenya Private Sector Alliance (KEPSA) has issued a warning regarding ongoing business disruptions during protests, claiming that they may result in job losses and drive away investors.
This statement came after several businesses were destroyed during demonstrations, resulting in losses for business owners.
Several shops were broken into, and several items were taken from the shops by unknown individuals who were part of the protest.
In a press release on Wednesday, June 18, KEPSA urged the public to remain calm across the country, stating that the escalating emotions and public interest are causing businesses destruction.
"We need to ensure that these efforts are not watered down so that businesses do not shut down due to the escalation of emotions and public interest," KEPSA said.
Adding, "To the youth, we acknowledge that you are an integral part of the business community, whether as entrepreneurs, employers, or employees. The private sector remains committed to addressing all concerns that will ensure the lives of all Kenyans are protected and sustainable jobs are created and maintained."
KEPSA stated that it has been actively working closely with the government and other stakeholders to create a conducive business environment both inward and globally.
The body stated that these make Kenya an attractive destination for business and foreign investments, and protests risk disrupting these gains made over the years.
In the statement, KEPSA said it understands the tough job that security officers have, but they should follow the law while keeping people safe. The body said that it recognises the role of the youth in the economy, stating they are important as business owners, workers, and future leaders.
The warning comes as the country continues to recover from last year's protests that resulted in a GDP growth of 4.7 per cent, down from 5.7 in 2023. This is after businesses closed for the crucial months of June, July and part of August.
Data from the Kenya National Bureau of Statistics (KNBS) shows the number of formal jobs created dropped to 78,600, down from 123,000 in 2023. The overall jobs created in 2024 stood at 782,300, compared to 848,200 the year before.
It is unclear how long this wave of protests will last, but online chatter indicates that next week, Tuesday, June 25, will see a total shutdown, which could further disrupt business operations.
