Kenya's private sector activity declined in July due to Gen Z protests against the 2024 Finance Bill.

Kenya's private sector activity fell in July due to widespread Gen Z protests against the 2024 Finance Bill, which proposed new taxes on mobile money, bread, diapers, and pads. The Stanbic Bank Kenya Purchasing Manager's Index (PMI) dropped from 47.2% in June to 43.1%, signaling a contraction in activity. Output and new orders were disrupted, leading to lower sales and orders across sectors, but job levels in the private sector continued to expand.