Kenya fines Carrefour franchisee $7.2m for abuse of buyer power
"The supermarket chain is required to amend all its supplier contracts and expunge clauses that facilitate abuse of buyer power," the antitrust regulator said in a statement.
The penalty is the biggest ever handed out by the Competition Authority of Kenya, the regulator said.
Majid al Futtaim, which opened its first Kenya outlet in 2016 and has grown to become one of the biggest retailers, was found guilty by the authority of abusing its superior bargaining power over an edible oils supplier and a honey manufacturing business.
The retailer was not immediately available for a comment.
($1 = 154.0000 Kenyan shillings)
Source: Reuters
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/About Duncan Miriri
Reporting by Duncan Miriri; editing by George Obulutsa, Jacqueline Wong and Muralikumar AnantharamanRelated
