What We're Watching

Kenya’s president does a 180 after deadly protests

A man gestures at a demonstration over police killings of people protesting against Kenya's proposed finance bill 2024/2025, in Nairobi, Kenya, June 27, 2024.
A man gestures at a demonstration over police killings of people protesting against Kenya's proposed finance bill 2024/2025, in Nairobi, Kenya, June 27, 2024.
REUTERS/Monicah Mwangi

Kenyan President William Ruto on Wednesday caved to the demands of protesters and scrapped a controversial finance bill. The legislation, which would’ve raised taxes on a population already struggling with high living costs, sparked mass protests that led to a deadly police response this week.

“I will not sign the 2024 finance bill,” Ruto said Wednesday amid widespread outrage over the deaths. “The people have spoken.”

What’s next? The move will appease Western donors, older voters, and certain lobbying groups who backed the young protesters but also want to see calm restored, says Imani Jaoko, a Nairobi-based analyst for Eurasia Group.

But the young voters who spearheaded the demonstrations “are not going to relent,” adds Jaoko, because people have died, and they see this U-turn as coming too late.

Ruto initially pledged a strong response to the protests, which also called for his resignation. Though he’s done a 180, it actually “emboldens” the demonstrators, says Jaoko, who are now aiming not only for the finance bill but “the administration’s failures in whole.”

Still, older voters, among other groups, will probably push the young protesters to “take the ‘win,’” adds Jaoko, noting that it’s unlikely the calls for Ruto to resign will reach a level where he feels compelled to step aside.

More For You

Mastercard Economic Institute's Outlook 2026 explores the forces redefining global business. Tariffs, technology, and transformation define an adaptive economy for the year ahead. Expect moderate growth amid easing inflation, evolving fiscal policies, and rapid AI adoption, driving productivity. Digital transformation for SMEs and shifts in trade and consumer behavior will shape strategies worldwide. Stay ahead with insights to help navigate complexity and seize emerging opportunities. Learn more here.

Miami Mayor-elect Eileen Higgins points as she thanks her staff and supporters on the night of the general election, on Tuesday, Nov. 4, 2025.
Carl Juste/Miami Herald/TNS/ABACAPRESS.COM

A Democrat won Miami’s mayoral race for the first time in nearly 30 years. The Republican defeat will ring some alarms for the party – and their support among Latino voters.

Women work in the plastic container assembly area inside the El Oso shoe polish factory, located in Mexico City, Mexico, in its new facilities, after officers from the Secretariat of Citizen Security and staff from the Benito Juarez mayor's office arbitrarily and violently remove their supplies, raw materials, machinery, and work tools on January 17 of this year following a coordinated operation stemming from a private dispute. On August 27, 2025.
Photo by Gerardo Vieyra/NurPhoto

50: Mexico’s President Claudia Sheinbaum is taking a page out of US President Donald Trump’s book, implementing up to a 50% tariff on more than 1,400 products in a bid to boost domestic production.