NAIROBI, Kenya, June 2 – Kenyans will have a say on new mergers under a new bill proposed by the Competition Authority of Kenya (CAK).
The draft Competition Amendment Bill 2024, which is currently undergoing public scrutiny, recommends public input on mergers to address competition and consumer welfare concerns.
Currently, the public only becomes aware of merger transactions after the authority publishes its determination.
“The Authority is proposing to introduce a requirement to publish merger notifications and invite the Public to give their input when the merger is notified to the Authority,” CAK said in a statement.
“This amendment will enhance the quality of our merger review process by considering more external information from stakeholders early in the merger review process.”
The new bill also proposes a plethora of other changes.
One of them is the legal backing to auction properties of firms unwilling to pay penalties, despite exhaustion of all appeal avenues.
Through this, CAK seeks to repeal Section 89 of the Competition Act and replace it with 92.
Currently, Section 89 of the Competition Act only provides for criminal prosecution.
