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We do not owe you Sh40b, retailers tell suppliers on debt claim

BUSINESS
By Lee Mwiti | March 7th 2017

Supermarkets have denied they owe suppliers Sh40 billion, saying the figure is much lower than what the suppliers are demanding.

The retailers through their umbrella body, the Retail Trade Association of Kenya (RTAK), have asked suppliers to cease their threats of pulling their goods from supermarket shelves and agree to a sit-down to resolve the issue amicably.

“The Principal Secretary for Trade Chris Kiptoo has agreed to form a task force made up of representatives from the Kenya Association of Manufacturers and others from our association as well as from the Association of Kenyan Suppliers to resolve this issue,” RTAK Chief Executive Wambui Mbarire said in an interview with The Standard.

She said the retailers had not declined to pay altogether as alleged by the suppliers, but admitted there had been delays in disbursing the payments. “When you look at this issue carefully, you will realise that Sh40 billion is too much,” she said. —Lee Mwiti

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