Close Menu
Finance Pro
  • Home
  • Art Gallery
  • Art Investment
  • Art Stocks
  • Cryptocurrency
  • Finance
  • Investing in Art
  • Investments
Facebook X (Twitter) Instagram
Trending
  • First three months 2026 interim report: solid performance and debut asset rotation transaction completed. Full-year 2026 guidance for Adjusted EBITDA and Investments reiterated – Yahoo Finance Singapore
  • Closing The Risk Gap In Modern Finance
  • Bringing back the salon: UK organisation aims to revive Brighton’s contemporary art scene – The Art Newspaper
  • Tube Investments Q4 Results: Shares rise as profit jumps 84%, margin expands
  • Is Crypto Sketchy? Here’s What To Know Before You Invest
  • After victims lose thousands, push underway in NC to stop cryptocurrency ATM scams
  • Morning briefing: Blackstone flips Hipgnosis songs catalogues for up to $4bn; International Biotechnology scores 39% half-year return; plus Workspace, Ceiba Investments, Ecofin US Renewables, Home REIT, Augmentum Fintech – QuotedData
  • Elliptic reels in $120M for its cryptocurrency analytics platform
  • 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

Closing The Risk Gap In Modern Finance

May 13, 2026 Finance

SAP ramps up push to bring AI agents to finance teams

May 12, 2026 Finance

Finance minister : Latest News Headlines, Videos and Photo Galleries on Finance minister

May 12, 2026 Finance

Restructuring PLN's transmission business could lower financing costs and align grid investment with Indonesia's energy transition needs – Institute for Energy Economics and Financial Analysis (IEEFA)

May 12, 2026 Finance

Car finance compensation: Channel Islands ‘confusion’ cleared up

May 11, 2026 Finance

Market Harborough Building Society secures approval to enter motor finance market

May 11, 2026 Finance
Add A Comment
Leave A Reply Cancel Reply

Don't Miss

First three months 2026 interim report: solid performance and debut asset rotation transaction completed. Full-year 2026 guidance for Adjusted EBITDA and Investments reiterated – Yahoo Finance Singapore

May 13, 2026 Investments 1 Min Read

First three months 2026 interim report: solid performance and debut asset rotation transaction completed. Full-year…

Closing The Risk Gap In Modern Finance

May 13, 2026

Bringing back the salon: UK organisation aims to revive Brighton’s contemporary art scene – The Art Newspaper

May 13, 2026

Tube Investments Q4 Results: Shares rise as profit jumps 84%, margin expands

May 13, 2026
Our Picks

First three months 2026 interim report: solid performance and debut asset rotation transaction completed. Full-year 2026 guidance for Adjusted EBITDA and Investments reiterated – Yahoo Finance Singapore

May 13, 2026

Closing The Risk Gap In Modern Finance

May 13, 2026

Bringing back the salon: UK organisation aims to revive Brighton’s contemporary art scene – The Art Newspaper

May 13, 2026

Tube Investments Q4 Results: Shares rise as profit jumps 84%, margin expands

May 13, 2026
Our Picks

Bungay Swan Inn art gallery and home bid withdrawn

May 12, 2026

Goldman predicts AI agent investments to exceed $1 trillion globally By Investing.com

May 12, 2026

Restructuring PLN's transmission business could lower financing costs and align grid investment with Indonesia's energy transition needs – Institute for Energy Economics and Financial Analysis (IEEFA)

May 12, 2026
Latest updates

First three months 2026 interim report: solid performance and debut asset rotation transaction completed. Full-year 2026 guidance for Adjusted EBITDA and Investments reiterated – Yahoo Finance Singapore

May 13, 2026

Closing The Risk Gap In Modern Finance

May 13, 2026

Bringing back the salon: UK organisation aims to revive Brighton’s contemporary art scene – The Art Newspaper

May 13, 2026
Weekly Updates

Hidden Kings Heath art gallery celebrates anniversary

June 25, 2025

Alt Power 100 Artlyst 2025- 2026 Art In Our Time

December 31, 2025

How BII doubled India commitments in 2024 led by debt investments

July 17, 2025
  • Privacy Policy
  • Terms and Conditions
  • Get In Touch
© 2026 Finance Pro

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