The Kenya Chamber of Commerce and Industry (KNCCI) announced on Tuesday the cancellation of the highly anticipated Nyanza International Investment Conference, initially scheduled to take place in Kisumu on June 28 and 29.
The conference, which was set to feature President William Ruto as the chief guest, was called off due to the ongoing protests across the country.
In a statement released by Japh Olende, the Chairman of the Nyanza International Investment Conference, the decision to cancel the event was attributed to the volatile situation marked by nationwide demonstrations.
“In view of the prevailing situation in the country, we, the Organizing Committee of the Nyanza International Investment Conference, have decided to postpone the conference until a later date,” read part of the KNCCI’s statement. “We will inform you of the new conference dates after a keen review of the necessary parameters needed to ensure a successful conference.”
The two-day conference was expected to attract local and international investors, along with Kenya’s top leadership, to explore and discuss investment opportunities in the Nyanza region.
This event was seen as a significant step towards economic growth and development in the region.
President Ruto was scheduled to arrive in Kisumu on June 28 to inaugurate the conference.
However, the recent wave of protests, particularly in Kisumu, played a crucial role in the postponement.
The protests were sparked by discontent over the Finance Bill 2024, leading thousands of youths to take to the streets, demanding the President’s resignation.
The bill, which proposes new taxes, has been widely criticized for potentially exacerbating the financial strain on already struggling Kenyans.
The demonstrators argue that the bill is unfair and burdensome, further intensifying public discontent.
The protests, characterized by fervent chants and demonstrations, prompted a strong response from President Ruto, who described the events as treasonous.
“I assure Kenyans that we shall provide a full, effective, and expeditious response to today’s treasonous events,” the President vowed.
His remarks underscore the government’s determination to maintain order and address the escalating tensions.
The cancellation of the Nyanza International Investment Conference is a significant setback for the region, which was poised to benefit from the influx of potential investments and economic opportunities.
The conference was designed to highlight the region’s potential and foster collaborations that could spur development and growth.
The decision to postpone the event reflects the severity of the current unrest and the challenges the government faces in managing the situation.
As the country grapples with the fallout from the protests, the focus shifts to resolving the underlying issues that have fueled public anger.
The Finance Bill 2024 has become a flashpoint for broader grievances about economic policies and governance, highlighting the need for dialogue and solutions that address the concerns of ordinary citizens.
In conclusion, the postponement of the Nyanza International Investment Conference is a stark reminder of the impact of political and social instability on economic initiatives.
The ongoing protests and the government’s response will continue to shape the national discourse, with significant implications for Kenya’s future.
The need for a peaceful resolution and constructive engagement with protesters’ demands is more pressing than ever, as the nation seeks to navigate this challenging period and move towards stability and growth.
Add Comment