Controversy arose on Wednesday when an online display of a popular restaurant’s menu in Gigiri, Nairobi County, revealed prices listed in dollars, sparking a heated debate among the public.
News reports conveyed that the restaurant proprietor had implemented a new policy mandating customers to settle their bills in dollars, citing the persistent weakening of the Kenyan Shilling. On November 29, the exchange rate stood at 1 USD to 152.73 Kenyan Shillings, coinciding with reports of a scarcity of dollars within the Kenyan business community.
In an official statement, the restaurant owner justified this shift, expressing concerns about the Shilling’s instability throughout the year. “We seek a stable business environment, and unfortunately, the Shilling is not providing that stability,” remarked the entrepreneur. Consequently, patrons were advised to convert their currency to US dollars at local forex bureaus before patronizing the establishment for meals.
As discussions unfolded among Kenyans, some expressed bewilderment at the high food prices at this particular restaurant. Notably, the menu listed items such as chapati and a serving of beans at Ksh1,600 (USD10.99). Despite the elevated costs, the restaurant aimed to appease customers by offering complimentary delivery services in specific areas of Nairobi.
The broader conversation revealed that other Kenyans had encountered similar experiences, with businesses across various sectors adopting the practice of charging in dollars as a strategic measure to mitigate potential losses.
Simultaneously, there is growing unease among Kenyans regarding the weakening Shilling and its impact on the cost of living. Many individuals are calling on the government to intervene and prevent further depreciation against the dollar. This concern about the Shilling’s decline has manifested in different sectors, including proposals by Kenya Power earlier in the year to denominate token charges in dollars as a means of addressing financial challenges.
In a related development, a September report by Knight Frank highlighted how the dollar’s influence was shaping trends in apartment and office space rentals. Companies, wary of the economic landscape, are reportedly shying away from office spaces as landlords increasingly insist on rent payments in dollars.
