Comfort Homes director Hezekiah Kariuki during avocadoes and macadamia seedlings donations on Labour Day in Kirinyaga county /HANDOUT
The government has been urged to explore all possible measures to mitigate rising fuel prices and restore normal economic operations across the country.
Commenting on the ongoing fuel price debate, financial consultant and founder and director of Together As One Micro Finance, Hezekiah Kariuki, expressed concern over the high cost of doing business, which he attributed to recent fuel price increases.
“As a financial lender, I can easily tell when middle-income earners are struggling or thriving in business. At the moment, I can confidently say that things are not easy for the majority of Kenyans,” he said.
Kariuki said fuel is no longer a luxury but an essential commodity that supports daily operations in key sectors such as transport, manufacturing and other critical areas of the economy.
Kariuki, who is also an investor in the real estate sector under the Comfort Homes brand, called on relevant government agencies to expedite efforts to make fuel more available and affordable for citizens.
He said the ongoing matatu strike and the difficult business environment linked to high fuel prices could result in the government losing more revenue than it seeks to generate through fuel price adjustments.
“As investors, we see a situation where the government is implementing measures to raise revenue through the fuel sector, but at the same time losing significantly in daily revenues when business operations are paralysed nationwide,” he said.
While acknowledging the transport sector’s concerns that have led to the strike, Kariuki warned that a prolonged disruption could expose industry players, particularly those with existing loan obligations, to mounting debt.
“When advancing loans, daily income is an important consideration. It is therefore a major loss for matatu owners when they are forced to keep their vehicles parked,” he stated.
He advised industry players to anticipate economic challenges and plan accordingly, rather than waiting for crises to emerge before seeking interventions after losses have already been incurred.
Kariuki also condemned the destruction of business premises reported in some major towns and urged the government to seek ways to support affected traders, stressing that criminal activity and acts of vandalism should not be tolerated at the expense of business investments.
He thanked matatu operators for what he described as putting the interests of Kenyans first by calling off the strike, and urged industry stakeholders to treat the matter with the seriousness it deserves to prevent a recurrence after the one-week negotiation period.
“As business players, we do not want to see a return of chaos on our streets. Criminals often take advantage of such situations, and businesses as well as financial institutions are among the most affected. The government should protect its people and property, as provided for in the Constitution,” he said.
