President William Ruto attended an event at KICC on Wednesday morning while his deputy, Rigathi Gachagua, set up a tent nearby at the Senate assembly for his impeachment trial. Ruto was accompanied by Prime Cabinet Secretary Musalia Mudavadi and Treasury Cabinet Secretary John Mbadi, among others. Also present was Central Bank Governor Kamau Thugge.
The Kenya Bankers Association Inua exhibition aims to promote and support MSMEs by showcasing products and services from local entrepreneurs. Ruto has refrained from commenting on the impeachment discussion regarding his deputy over the past two weeks.
The ongoing trial will lead to a vote on Thursday, where a two-thirds majority of the 67 members is necessary for Gachagua’s removal from office. Gachagua’s recent attempt to halt the Senate trial was unsuccessful on Wednesday morning after a three-judge panel, led by Chief Justice Martha Koome, ruled that they could only exercise restraint and allow independent government institutions to operate without interference.
In his address during the event, Ruto praised the banking industry for its vital role in ensuring the efficient operation of our economy and upholding the integrity of our financial sector, as well as for setting a standard in tax compliance.
He acknowledged that the government recognizes, supports, and advocates for the significant contributions of MSMEs, particularly in creating between 80 and 90 percent of jobs and generating nearly a third of the gross domestic product (GDP).
“In 2023, the banking industry contributed SH190 billion in taxes, reflecting its performance and potential,” he stated.
