Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Competition Authority received 148 merger and acquisition requests in 2018

The request by Tusker Mattresses to merge with Nakumatt was denied by CAK/FILE

NAIROBI, Kenya Feb 12 – The Competition Authority of Kenya has announced that it received 148 merger notifications in the 2017/2018 financial year.

Competition Authority of Kenya Director General Francis Kariuki said a majority of the requests were registered in the second half of the period.

Kariuki added that 55.3 percent of the mergers assessed had an international dimension, which attests to Kenya’s continued attractiveness as an investment destination.

Among the planned mergers and acquisitions that came to light in 2018 include; Ramco Plexus acquisition of rival Panthera Publishers, Synovate buyout of Ipsos, the merger of NIC and CBA banks, and the failed merger of operations between retailers Tuskys and Nakumatt.

The Competition Authority Kenya also announced that it has started implementing recommendations of the Banking Phase II market inquiry which sought to determine the challenges that hinder customers from exerting competitive pressure on commercial banks.

The study, which is aimed at contributing to increased financial inclusion focused on issues such as; price transparency, disclosure practices by service providers, ease of switching between banks and data portability.

Already, the Authority’s interventions in the telecommunications sector have seen a significant drop in charges of Unstructured Supplementary Service Data (USSD) by the country’s leading telecom firms, to the benefit of consumers.

The Authority has also initiated a regional study into the Shipping, Trucking and Haulage industry in Kenya, Uganda, Rwanda and Burundi.

“The objective of the inquiry is to identify and remedy anticompetitive practices impeding national and intra-regional trade and hence act as an obstacle to the growth of our manufacturing sector,” said Kariuki.

In collaboration with Financial Sector Deepening (FSD) Kenya, the Authority initiated a market study on the level of competition in the leasing sector, with the aim of developing an enabling and competitive market especially for SMEs participating in this sector.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...