Skip to content

Kenya’s Economic Storm has been Brewing for Some Time

Over the last 10 years, between 2013 and 2023, Kenya’s average growth rate has been 4.52%. This is less than half of the 10% growth rate that President Mwai Kibaki had envisaged in Vision 2030. Several economic factors have come together, creating the perfect storm for these mass protests. First, young Kenyans have endured hard economic times brought on by COVID-19 and the war in Ukraine. Tensions were already evident in the run-up to Kenya’s 2022 presidential elections, with complaints over rising national debt and the cost of living. At the time, President William Ruto’s alliance read the signs correctly and tapped into the discontent. As a presidential candidate, Ruto promised to lower the cost of living if he won the elections. He also promised the downtrodden, popularised as “hustlers”, better jobs. And they voted for him in droves. But in two years the economy did not grow as fast as expected. And the hustlers’ patience ran out.

THE CONVERSATION

Subscribe

Stay informed and ahead of the game with our curated collection of the top 10 stories from Africa each day, Monday, Tuesday, Wednesday, and Thursday. On Fridays, gear up for the business world as we bring you the 10 most relevant and game-changing business stories. And on Sundays, prepare to be whisked away on a delightful journey through Africa’s vibrant lifestyle and travel scenes.