KNCCI warns of economic strain as high fuel costs hit transport sector
In a statement, KNCCI said rising pump prices—despite recent tax cuts—continue to drive up operating costs for businesses, threatening jobs, pushing up consumer prices, and eroding competitiveness. Kenya breaking news | Kenya news today |..
✨ Key Highlights
The Kenya National Chamber of Commerce and Industry (KNCCI) is warning of significant economic strain, particularly within the transport sector, due to persistently high fuel costs.
- Operating costs for businesses have surged, threatening jobs and pushing up consumer prices, with transport fares rising by up to 25 percent.
- Key organization involved: KNCCI, represented by its CEO KK Mutai.
- Fuel prices remain elevated despite a recent VAT cut, reflecting global oil market pressures and geopolitical tensions impacting shipping routes.
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