Kenya has experienced a rise in company closures under President Ruto, with over 200 firms officially shut down by the end of 2024, and more than 100 others facing possible closure soon.
This has led to big job losses and economic trouble.
Over 5,500 people lost formal jobs between 2022 and January 2025. In 2024, 782,300 new jobs were created — below the government’s one million target.
Companies like Twiga Foods, Ola Energy, and Flutterwave experienced major staff cuts. Jobs created in 2024 dropped by 4% compared to 2023 — the lowest since Covid.In 2024, formal manufacturing jobs were 347,300 — just 16% of all formal jobs, down from 2.2 million the year before.
High taxes and corruption has been a big setback for investors prompting them to shift to other countries. The Government seem to have lost war on corruption.
