NAIROBI, Kenya, Oct 2 – The Competition Authority of Kenya (CAK) will open investigations into animal feed companies over price fixing.
CAK says that the inquiry will look into price, cost, and quantity produced, as well as market shares and ownership, among others.
“The key objective of the market inquiry is to assess the market interactions, market structures, market outcomes, and other factors that may be affecting competition in markets along the animal feed value chains and recommend interventions that will support sustainable growth and competitive markets for a robust animal feeds sector in Kenya,” CAK said in the Kenya Gazette.
This comes after nine steel companies were fined Sh338.9 million by the CAK in August for illegally increasing the cost of steel products.
They included Corrugated Steel Ltd. (Sh86.97 million), Tononoka Rolling Mills Ltd. (Sh62.72 million), Devki Steel Mills Ltd. (Sh46.3 million), and Doshi and Hardware Ltd. (Sh41.6 million).
Others were Jumbo Steels Mill Ltd (Sh33.14 million), Accurate Steel Mills Ltd (Sh26.83 million), Nail and Steel Products Ltd (Sh22.82 million), Brollo Kenya Ltd (Sh9.4 million), and Blue Nile Wire Products Ltd (Sh9.16 million).
CAK argued that the above-mentioned companies engaged in cartel conduct, whose effect was to increase the cost of homes and infrastructure by raising steel product prices.
