During a televised address from State House in Nairobi on Friday, July 5, 2024, President Ruto directed the Attorney General to draft a law to effect the ban on the fundraising tradition which is believed to have metamorphosed into a forum for the raw display of ill-gotten wealth.

"No state official or public servant shall participate in public contributions or Harambees going forward," Ruto said.

"The Attorney General is hereby directed to prepare and submit legislation to this effect and develop a mechanism for structured and transparent contributions for public, charitable, and philanthropic purposes. This measure will be followed by changes in government that I will be announcing shortly," he added.

The Head of State also announced Ksh177 billion budget cuts to seal the budget hole left after the withdrawal of the controversial Finance Bill 2024.

The Finance Bill 2024 sought to raise Ksh 346 billion in additional taxes for the government. However, the proposed law sparked protests from members of the public, particularly young Kenyans under the pseudonym "Gen Z", who took to the streets to demand the rejection of what they termed as "punitive taxes".

Ruto said the Ksh169 billion budget deficit would be raised through additional borrowing.
In the wake of the new economic realities and the need to cut government expenditure, President Ruto announced that 47 state corporations would be dissolved and merged with parent ministries.

He also announced that the number of executive advisors would be slashed by 50% and that funding would be cut for the operations of the Office of the First Lady, the Spouse of the Deputy President, and the Prime Cabinet Secretary.

Similarly, President Ruto halted the purchase of new government motor vehicles for 12 months, providing an exception only to security agencies.

He also announced that all public servants who have reached the retirement age of 60 must proceed to retirement immediately and emphasized the suspension of all non-essential travel by state and public officers.

President Ruto has directed the Attorney General to draft a law to effect the ban on the fundraising tradition which is believed to have metamorphosed into a forum for the raw display of ill-gotten wealth.