Trade Cabinet Secretary Moses Kuria on Wednesday, July 12, explained why global investors still had faith in the Kenyan economy despite the ongoing protests.
Kuria who was speaking during the 3rd Extraordinary African Trade Ministers Meeting, held in Nairobi announced that the mindset of investors had shifted and could not be swayed by concerns over the ongoing anti-government protests.
The Trade CS further gave a commitment to investors that President William Ruto’s government would create a conducive business ecosystem.
“On the issue of what will be happening in the political arena, global investors are very resilient nowadays,” he explained why the Raila Odinga-led protests would not deter entrepreneurs.
He noted that foreign investors had experience navigating economies with a greater risk exposure than Kenya.
“The modern-day investors know what they are looking for. They look for opportunity not small rumbling here and there,” he assured Kenyans.
To prove his point, Moses Kuria revealed that the presence of leaders from Saudi Arabian companies controlling Ksh140 trillion was a testament that protests would not be a deterrence.
“How are we going to improve the living standards of our people if we allow ourselves to be distracted by noises that come from out there?” he posed.
The remarks from Kuria were made on the same day that The Kenya Private Sector Alliance (KEPSA) estimated the country was losing Ksh3 billion daily because of the protests.
"Weaponisation of the country’s economic drivers is occasioning unnecessary losses to the tune of about Ksh3 billion daily. For a struggling economy, Kenya can ill afford the political activities currently at play," a statement from KEPSA read in part.
On Thursday, July 13, Orange Democratic Secretary General Edwin Sifuna announced plans to escalate the frequency of the demonstrations.
"From next week, there will be three days straight of protests; Monday, Tuesday and Wednesday, until Ruto understands that people are suffering and repeals this law the same way he imposed it upon them," he stated during an interview with Citizen TV.
