Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Kenya: Competition agency gets more power to rein in rogue firmsWednesday, June 18, 2014 > 08:29:42
Kenya: The Government will amend the restrictive trade practice law to give the Competition Authority of Kenya (CAK) more power to rein in companies using unethical trade tactics. National Treasury Cabinet Secretary Henry Rotich on Thursday, when reading the 2014/15 Budget, said the Competition Act 2010 would be amended to enable the institution crack down on both local and international business firms abusing their dominance in the local market.
CAK management has been investigating local and international companies over various unethical trade behaviour, including market segmenting and price alteration, which have subjected consumers to high prices, hoarding of commodities and low-quality goods.Â In an earlier interview, CAK Director General Wang’ombe Kariuki said the competition legislation empowers the authority to penalise any merchant implicated in cartel-like behaviour a fine of not less than Sh10 million or a jail term of five years.
However, the law, which has been in operation for two years, has faced enforcement challenges due to a lack of appropriate provisions to ensure regulatory and transaction costs are kept low. “In this regard, I propose to amend the Competition Act to create predictability and transparency in its enforcement,” said Mr Rotich last week.