Cartels, trade barriers cost Kenya's economy Sh22 billion annually

Market distortions due to anti-competitive behaviours and regulations are denying the economy Sh22 billion annually, according to the findings of a new report by the World Bank’s investment arm - International Finance Corporation (IFC).

The report which was commissioned by the Competition Authority of Kenya (CAK) following an earlier directive by President Uhuru Kenyatta also found that addressing the barriers to competition will reduce the country’s poverty prevalence by 1.3 per cent in the first year alone.