We have lost Sh700m over poll jitters, say matatu owners

Matatu owners on Monday called for normalcy saying they had lost about Sh700 million in the last five days due to election-related fears.

Matatu Welfare Association (MWA) national Chairman Dickson Mbugua said matatu owners are counting losses as many withdrew vehicles from the roads fearing for their safety after Nasa flag-bearer Raila Odinga lost the elections to Jubilee’s Uhuru Kenyatta.

“...insurance policies are wasting away with some due for renewal. Our members risk defaulting on payment of loans running into billions of shillings and this could see their vehicles as well as other properties seized by auctioneers,” he said.

Speaking in Nairobi flanked by his national committee, Mr Mbugua said jobs were also in jeopardy as thousands of Kenyans rely on the matatu business for livelihood.

“We cannot afford any further loss and we call upon President Uhuru and the Nasa leader to show leadership by calling on their supporters to embrace peace,” he said.

“Peace is the foundation of economic prosperity and every patriotic Kenyan must keep it by all means.”

MWA’s treasurer Lucy Wacuka called for restraint by the security forces saying force should only be applied in for extreme cases.
She added that all Kenyans and their businesses need to feel protected.

She noted that the economy is adversely affected when thr matatu industry stalls because the sector contributes up to 17per cent of Gross Domestic Product (GDP).

The MWA national officials said it was encouraging that Nairobi was beginning to revert to normalcy after subdued business activity following the August 8 elections.

MWA, which is a member organisation bringing together 400 matatu Saccos from around the country, also condemned an incident last weekend where a bus was set ablaze in Kisumu by rowdy mob protesting the results of the elections.