By Treezer Michelle Atieno
Nairobi traders have suffered significant losses due to recent anti-Finance Bill
demonstrations led by Gen Z protesters. These protests, sparked by widespread
dissatisfaction with the Finance Bill 2024, caused disruptions throughout the city,
severely impacting businesses and the local economy.
The protests resulted in clashes between protesters and police, leading to property
damage and looting. Business owners in key commercial areas such as the Central
Business District (CBD), Westlands, and Eastleigh have reported substantial
financial setbacks due to the unrest. The violent nature of some protests forced
many traders to either close their shops early or keep them shut for days, resulting
in a significant decline in daily revenue.
According to the Nairobi County Business Coalition, traders collectively lost millions
of shillings during the protests. Retail shops, supermarkets, and small-scale
vendors were particularly hard hit. For example, a local supermarket chain reported
losses of KSh 5 million in a single day due to forced closures and property damage.
Small traders, who depend on daily sales for their livelihoods, were also
disproportionately affected, with many struggling to make ends meet amidst the
chaos.
A section of small business owners in the CBD shared their difficulties after some
protestors broke into their shops and stole their goods. "When I reopened on the
fourth day, I discovered that my display window was shattered and several items
were missing. The losses are overwhelming, and I don't know how I'll recover," said
John Murimi.
The situation also impacted the supply chain, causing disruptions in transportation
and delivery services. Suppliers were hesitant to navigate the chaotic streets,
resulting in delays and shortages of goods in the market. This further worsened the
financial strain on businesses that were already suffering from the effects of the
protests.
The hospitality sector was also severely affected. Restaurants and hotels
experienced a significant decline in customers as people avoided protest-prone
areas.
The government should expedite efforts to support and cushion the affected
businesses, although traders remain skeptical about the immediate future. The
Kenya Private Sector Alliance (KEPSA) has called for a prompt resolution to the
incurred losses, emphasizing the need for dialogue between the government and
the youth to address their concerns without causing further economic damage.
