Analysis of data from the Kenya National Bureau of Statistics (KNBS) reveals the City’s Gross County Product (GCP) was Sh3.8 trillion in 2023. This translates to a Sh10.4 billion economic output per day, an amount lost following the halt of economic activities on Monday.
Of the Sh10.4 billion, financial and insurance activities were the most affected losing Sh2.43 billion, followed by real estate activities at Sh1.72 billion and transport at Sh1.59 billion.
Other notable losses recorded were in wholesale & retail (Sh1.48 billion), manufacturing (Sh1.15 billion), and construction (Sh1.12 billion).
The shutdown of commercial activities had a ripple effect spanning from informal traders to lost government revenue inform of taxes collected daily.
For instance, the small informal businesses bore the brunt of protests as they depend on daily earnings to meet their basic needs such as food.
Notably, the country lost billions when Kenyans could not access banking halls, traders were unable to sell their merchandise, and transport services by boda boda, taxi hailing firms were grounded.
There were other demonstrations around the country, including 16 other counties — Nyeri, Embu, Nakuru, Kiambu, Kajiado, Machakos, Murang'a, Kisii, Kirinyaga, Narok, Uasin Gishu, Meru, Laikipia, Kakamega, Makueni, and Nyandarua.
Collectively, the counties generated Sh25.17 billion daily output in 2023, making them core wealth and job creators for Kenya’s economy.
They accounted for 66.1 percent of Kenya’s GDP, and their daily output is expected to have grown to Sh26.3 billion on the back of the country’s economic growth of 4.5 percent recorded last year.
The protests may complicate Kenya’s government's endeavours to manage its deteriorating fiscal position.
