Subscribe & Follow

Advertise your job vacancies

BizTrendsTV

RAPT BizTrendsTV: 54 Magazine's Phindile Khoza: African culture on the global stage

Carrefour's Kenya franchisee says it will appeal $7.2m penalty

Carrefour's franchisee in Kenya, the United Arab Emirates-based Majid al Futtaim (MAF), said on Wednesday it will appeal against a 1.1 billion shilling ($7.14m) penalty imposed by the competition authority for alleged abuse of buying power.

By Duncan Miriri

20 Dec 2023

File photo: Customers walk inside the Carrefour hypermarket at the Two Rivers Shopping Mall in Nairobi, Kenya, 8 April 2019. Reuters/Thomas Mukoya

The regulator Competition Authority of Kenya on Tuesday announced the fine, a record high in the East African nation, saying MAF Kenya was guilty of offering two local suppliers unfavourable terms.

"Majid Al Futtaim has full confidence in the fairness and integrity of our business practices and is appealing the Competition Authority’s decision," the company said in a statement.

In arriving at its decision, the authority had ignored the fact that the two local suppliers had already withdrawn their complaint and signed new contracts with the retailer, MAF said in the statement.

($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/