Close Menu
Finance Pro
  • Home
  • Art Gallery
  • Art Investment
  • Art Stocks
  • Cryptocurrency
  • Finance
  • Investing in Art
  • Investments
Facebook X (Twitter) Instagram
Trending
  • Finance professionals say the AI skills gap is widening
  • #CryptoCornerSeason2 | Sigma Capital’s Vineet Budki To CNBC-TV18 – Most investors seem to be in a wait and watch mode – Investors should evaluate and invest in cryptocurrencies on declines Manisha Gupta | Binance #CNBCTV18Market #Cryptocurrenc – LinkedIn
  • What They Are and How To Choose
  • Funding secured to reopen galleries at Birmingham Museum & Art Gallery
  • The true cost of owning a priceless painting- The Week
  • Embedded Finance vs Banking as a Service in 2026: Key Differences Explained
  • Cryptocurrency Exchanges: The Gateway To Global Crypto
  • Outlook India – India’s Best Magazine
  • Privacy Policy
  • Terms and Conditions
  • Get In Touch
Finance ProFinance Pro
  • Home
  • Art Gallery
  • Art Investment
  • Art Stocks
  • Cryptocurrency
  • Finance
  • Investing in Art
  • Investments
Finance Pro
Home»Finance»Kenya’s president says he won’t sign the finance bill that led protesters to storm the parliament
Finance

Kenya’s president says he won’t sign the finance bill that led protesters to storm the parliament

June 27, 20245 Mins Read


NAIROBI, Kenya (AP) — Kenya’s president said Wednesday he won’t sign into law a finance bill proposing new taxes that prompted thousands of protesters to storm the parliament the previous day, leaving several people killed as police opened fire. It was the biggest assault on Kenya’s government in decades.

The government wanted to raise funds to pay off debt, but Kenyans said the bill would have caused more economic pain as millions struggle to get by. Tuesday’s chaos led authorities to deploy the military, and Kenyan President William Ruto called protesters’ actions “treasonous.”

He now says the proposed bill caused “widespread dissatisfaction” and that he has listened and “conceded.” It’s a major setback for Ruto, who came to power vowing to help Kenyans cope with rising costs but has seen much of the country — led by its youth — unite in opposition to his latest attempted reforms.

“It is necessary for us to have a conversation as a nation on how … do we manage the affairs of the country together,” he said.

AP correspondent Charles de Ledesma reports amid heavy police presence, Kenya starts clearing debris after protests.

Kenyans faced the lingering smell of tear gas and military in the streets on Wednesday morning, a day after the protesters’ act of defiance that Ruto had called an “existential” threat. Parliament, city hall and the supreme court were cordoned off.

At least 22 people were killed, the Kenya National Human Rights Commission said, and police were accused of some shooting deaths. Chairperson Roseline Odede said 50 people were arrested.

Ruto acknowledged there were deaths, without elaborating, called it an “unfortunate situation” and offered condolences. He also said about 200 people had been wounded in the chaos. Part of the parliament building burned and clashes occurred in several communities beyond the capital, Nairobi.

Kenya has seen protests in the past, but activists and others warned the stakes were now more dangerous — Ruto on Tuesday vowed to quash unrest “at whatever cost,” even as more protests were called at the State House on Thursday.

“We are dealing with a new phenomenon and a group of people that is not predictable,” said Herman Manyora, an analyst and professor at the University of Nairobi. “We don’t know whether these people will fear the army.”

The demonstrations showed Kenyans bridged tribal and other divisions to keep the finance bill from becoming law. It would have raised taxes and fees on a range of items and services, from egg imports to bank transfers.

White House national security spokesman John Kirby urged the Kenyan government to exercise “restraint so that no further Kenyans are put in harm’s way while exercising their right to peaceful public assembly.”

There were no reports of violence Wednesday, but there was fear. Civil society groups have reported abductions of people involved in recent protests and expect more to come. Kenya’s High Court ordered police to release all those arrested in the protests. Ruto said those allegedly abducted had been released or processed in court.

Later Wednesday, the High Court, acting on a challenge from Kenyan lawyers, ordered the military be pulled back from the streets. It was not immediately clear if the government would do so.

The mother of a killed teenager, Edith Wanjiku, told reporters at a morgue that the police who shot her son should be charged with murder because her 19-year-old was unarmed. “He had just completed school and was peacefully protesting,” she said.

Many young people who helped vote Ruto into power in 2022, supporting his promises of economic relief, now oppose the pain of reforms. Inequality among Kenyans has sharpened along with long-held frustrations over state corruption. The booming young population is also frustrated by the lavish lifestyles of politicians, including the president.

“How did we get here?” Kenya’s vice president, Rigathi Gachagua, asked Wednesday in nationally broadcast comments after the president’s turnabout, openly wondering how the government had become so unpopular in just two years. “We were the darling of the Kenyan people.”

The bill was not as important as people’s lives, said one Nairobi businessman, Gideon Hamisi. “Many young people lost their lives yesterday. I am a young man, and I feel deeply pained by what transpired.”

Opposition leader Raila Odinga called for dialogue. “Kenya cannot afford to kill its children just because the children are asking for food, jobs and a listening ear.”

The president’s concession was “self preservation” by a leader worried about his reputation, opposition lawmaker Edwin Sifuna wrote on X.

The events are a sharp turn for Ruto, who has been embraced by the United States as a welcome, stable partner in Africa while frustration grows elsewhere on the continent with the U.S. and some other Western powers.

In May, Ruto went to Washington in the first state visit by an African leader in 16 years. On Tuesday, as the protests erupted, the U.S. designated Kenya as its first major non-NATO ally in sub-Saharan Africa, a largely symbolic act but one highlighting their security partnership. Also Tuesday, hundreds of Kenyan police deployed to lead a multinational force against gangs in Haiti, an initiative that brought thanks from President Joe Biden.

U.S. Secretary of State Antony Blinken had been expected to speak with Ruto on Wednesday about the Haiti deployment, a call planned prior to Tuesday’s violence.

___

Associated Press reporters Brian Inganga in Nairobi, Kenya, and Aamer Madhani in Washington contributed to this report.

___

Follow AP’s Africa coverage at https://apnews.com/hub/africa





Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Finance professionals say the AI skills gap is widening

April 10, 2026 Finance

Embedded Finance vs Banking as a Service in 2026: Key Differences Explained

April 10, 2026 Finance

NMG Announces US$297 Million Equity Financing Package including US$213 Million Private Placement and US$84 Million Bought Deal Public Offering, Advancing Phase-2 Matawinie Mine toward FID – Yahoo Finance UK

April 9, 2026 Finance

African Development Bank Group Consultative Dialogue on NAFA: Abidjan to Host a Crucial Meeting to Redesign Africa’s Financial System and Accelerate the Continent’s Development – African Development Bank Group

April 9, 2026 Finance

The finance talent crunch – and why hybrid global teams are winning

April 8, 2026 Finance

Better Home & Finance Holding Company Reports $1.64B in Preliminary Funded Loan Volume for Q1 2026, Exceeding Prior Guidance; Strengthens Balance Sheet and Announces Strategic Actions to Drive Profitable Growth – Yahoo Finance

April 8, 2026 Finance
Add A Comment
Leave A Reply Cancel Reply

Don't Miss

Finance professionals say the AI skills gap is widening

April 10, 2026 Finance 2 Mins Read

A close-up image shows a computer chip labeled “AI” connected to a circuit board illuminated…

#CryptoCornerSeason2 | Sigma Capital’s Vineet Budki To CNBC-TV18 – Most investors seem to be in a wait and watch mode – Investors should evaluate and invest in cryptocurrencies on declines Manisha Gupta | Binance #CNBCTV18Market #Cryptocurrenc – LinkedIn

April 10, 2026

What They Are and How To Choose

April 10, 2026

Funding secured to reopen galleries at Birmingham Museum & Art Gallery

April 10, 2026
Our Picks

Finance professionals say the AI skills gap is widening

April 10, 2026

#CryptoCornerSeason2 | Sigma Capital’s Vineet Budki To CNBC-TV18 – Most investors seem to be in a wait and watch mode – Investors should evaluate and invest in cryptocurrencies on declines Manisha Gupta | Binance #CNBCTV18Market #Cryptocurrenc – LinkedIn

April 10, 2026

What They Are and How To Choose

April 10, 2026

Funding secured to reopen galleries at Birmingham Museum & Art Gallery

April 10, 2026
Our Picks

#CryptoCornerSeason2 | #Crypto Prices Inch Higher – Total cryptocurrency market cap rises 1.80% in March – #Bitcoin and #Ethereum gain despite broader market weakness Binance India Seker -. @mani.0711 #CNBCTV18Market #Cryptocurrency #Binance – LinkedIn

April 9, 2026

THE WILSONS’ ART GALLERY IS WHERE THE WILD THINGS ARE

April 9, 2026

Settle’s Gallery on the Green re-opens with ‘Gilding the Letter’

April 9, 2026
Latest updates

Finance professionals say the AI skills gap is widening

April 10, 2026

#CryptoCornerSeason2 | Sigma Capital’s Vineet Budki To CNBC-TV18 – Most investors seem to be in a wait and watch mode – Investors should evaluate and invest in cryptocurrencies on declines Manisha Gupta | Binance #CNBCTV18Market #Cryptocurrenc – LinkedIn

April 10, 2026

What They Are and How To Choose

April 10, 2026
Weekly Updates

Quiz: How financially literate are you? Test yourself with these questions from a budgeting expert

July 14, 2024

Rise of cryptocurrency loans in Australia spark concerns about financial ‘contagion’

February 10, 2025

Clean energy lit the path for private infrastructure investments in 2023

May 14, 2024
  • Privacy Policy
  • Terms and Conditions
  • Get In Touch
© 2026 Finance Pro

Type above and press Enter to search. Press Esc to cancel.