Kenyan Economy Struggles a Year After #RejectFinanceBill Protests

Kenya’s economy remains under strain in June 2025, a year after the deadly #RejectFinanceBill protests that erupted in June 2024, challenging President William Ruto’s fiscal policies.

The demonstrations, sparked by a punitive tax bill, left over 40 dead and exposed deep public discontent with rising living costs, leaving lasting scars on Kenya’s economic and political landscape. Despite Ruto’s withdrawal of the bill, persistent inflation, unemployment, and debt pressures continue to hinder recovery, as Nairobi’s business hubs and rural communities grapple with uncertainty.

The protests, centered in Nairobi’s Central Business District, disrupted commerce, with losses estimated at KSh 6 billion, per the Kenya National Chamber of Commerce. Inflation, at 6.8% in May 2025, and a weakening shilling (KSh 130 to $1) have squeezed households, with maize flour prices doubling since 2023.

Ruto’s austerity measures, including subsidy cuts, aim to service Kenya’s $80 billion debt, but youth unemployment, at 20%, fuels unrest. IMF’s $3.6 billion loan extension in April 2025 offers relief, but conditions like VAT hikes spark fears of renewed protests. Nairobi traders like Jane Wanjiku lament sluggish sales, while Ruto’s Kenya Kwanza coalition faces 2027 election scrutiny. The crisis, covered by Al Jazeera, underscores Kenya’s challenge to balance fiscal discipline with social stability.