President William Ruto announced on Wednesday that he will not sign the contentious Finance Bill 2024, succumbing to mounting public pressure. This decision follows a week of nationwide protests, primarily led by Kenyan youth who argue that the punitive tax proposals would further burden an already stretched population.

Speaking at the State House and flanked by allied members of parliament, President Ruto stated that after listening to Kenyans, who overwhelmingly rejected the Bill, he decided not to sign it into law.

"Having reflected on the continuing conversation around the Finance Bill, and listening to the Kenyan people who say they want nothing to do with this Bill, I concede," President Ruto said.

"Therefore, I will not sign the Finance Bill 2024. It shall be subsequently withdrawn, and I have agreed with these members that this shall become our position."