NAIROBI, Kenya, Mar 28 – A total of 28 insurance companies dominate the list of abuse of buyer power cases in Kenya, the latest Competition Authority of Kenya (CAK) report shows.
According to the annual CAK data for the 2022–23 financial year, the insurance sector represented 59.6 percent of all cases.
These statistics were based on 114 cases of buyer power that the authority investigated.
The insurance industry was trailed by ‘other’ with 18.4 percent, retail with 10.5 percent, telecommunications by 3.5 percent, and agriculture, transport, and construction sharing with 2.6 percent.
“The CAK investigated 114 cases of abuse of buyer power in FY 2022/2023,” the CAK said.
CAK data also shows that mergers went up from 25 in the 2021–2022 financial year (FY) to 29 in the 2022–2023 FY.
Furthermore, non-merger transactions and merger transactions notified to the COMESA Competition Commission (CCC) had increased between the two FYs by 39 and 43 and 20 and 31, respectively.
“The Authority handled one hundred and thirty-two (132) merger notifications during the period under review,” CAK said.
“Of these notifications, twenty-nine (29) met the threshold for full merger analysis as provided for in the Merger Threshold Guidelines and a similar number satisfied the criteria for exclusions.”
