“I am fully aware of the concerns raised by Kenyans and the need for meaningful engagement,” declared President William Ruto during his State of the Nation Address on November 21, 2024.
Delivered from Parliament, the speech shed light on Kenya’s progress, economic milestones, and pressing national issues.
Guard of Honour and Opening Ceremony
President Ruto arrived at Parliament at 2:30 PM, where he inspected a Guard of Honour before meeting National Assembly Speaker Moses Wetang’ula and Senate Speaker Amason Kingi. The leaders reviewed the agenda for the day, setting the stage for the President’s address, which lawmakers would listen to in silence.
Speaker Kingi began with a prayer before both Speakers confirmed that the sitting had been duly convened and gazetted. Among the guests in attendance were First Lady Rachel Ruto, Deputy President Kithure Kindiki, Chief Justice Philomena Mwilu, and high-ranking officials, including a delegation from Gambia.
President Ruto Addresses National Concerns
President Ruto began by acknowledging the concerns of everyday Kenyans.
“Leadership is about listening,” he emphasized, adding that the government remains committed to addressing the hardships faced by citizens striving to make ends meet.
Key Economic Milestones
- Strengthening the Shilling
- The Kenyan shilling has recovered, appreciating from KSh 162 in February 2024 to KSh 129 currently, marking a 20% gain.
- This improvement has restored market confidence and reduced the cost of servicing external debt.
- Lower Inflation Rates
- Inflation dropped dramatically from 9.6% in September 2022 to 2.7% in October 2024, the lowest rate in 17 years.
- Increased Foreign Exchange Reserves
- Reserves surged to $9.5 billion, providing greater economic stability.
- Declining Interest Rates
- Interest rates are on a downward trend, encouraging investment and growth.
- Tax Revenue Growth
- Tax revenues increased by 11%, demonstrating improved collection efficiency.
- Economic Growth
- The economy achieved a 5.3% growth rate in 2023, a sign of resilience amidst global challenges.
Borrowing and Budgetary Reforms
Ruto highlighted Kenya’s crossroads:
“Defaulting on obligations would have worsened our situation, and more borrowing was not an option,” he said. The government has instead focused on reducing expenditure, mobilizing domestic resources, and curbing waste.
Universal Health Coverage (UHC)
The President reiterated his commitment to UHC, stating that the Social Health Authority (SHA) would settle all October claims by next week.
“We aim to address historical neglect in our healthcare system by ensuring coverage for the poor and vulnerable,” Ruto affirmed.
Suspension of Adani Deal
In a significant move, President Ruto announced the suspension of the controversial Adani procurement and expansion deal.
This decision followed public outcry and international scrutiny after Adani faced legal challenges in the United States.
Reactions to the Adani Deal Cancellation
- MP Kuria Kimani:
“This move shows the President is listening to Kenyans’ voices on social media and beyond. It’s a positive step.” - MP Philip Kaguchia:
“Adani’s indictment in the U.S. makes working with them untenable. This decision protects Kenya’s interests.” - CS Aden Duale:
“The President’s stance sends a clear message on the fight against corruption. We must find reputable firms for critical infrastructure projects.” President Ruto’s address underscored Kenya’s progress in economic recovery, governance, and public engagement. As the nation moves forward, his administration has promised to remain focused on addressing citizens’ concerns and fostering sustainable development.
