By Faith Ronoh
A law is being drafted to end the lucrative counterfeit crime.
Anti-Counterfeit Agency Assistant Director Agnes Karingo said businesses lose about Sh50 billion every year due to counterfeit products. She said fast moving products are easily counterfeited and it has become a major challenge identifying such products.
“The Bill is at an advanced stage and we can assure you that it will go a long way in minimising counterfeiting and will deal with criminals behind the menace,” she said.
Ms Karingo said counterfeitingcould be a barrier in the realisation of Vision 2030. “It has contributed to unemployment and is destroying our economy. The Sh20 billion lost on tax evasion could be used in improving the economy,” she said.
She said the agency has been working closely with East African countries to reduce fake products that are sneaked into the country from neighbouring states.
