The Competition Authority of Kenya (CAK) has warned Parliament against punishing the dominant company Safaricom by stating that it will have ripple effects on the entire economy and that the action is not needed.
CAK announced it had not established evidence of Safaricom, which has a 67% market share, abusing its dominance in any of its business sectors, eliminating the need for action by regulators.
The watchdog stated the mobile telecommunication sector is dynamic and any drastic regulatory action will impact financial services, among other sensitive areas.
“Any regulatory intervention should be aimed at supporting and increasing consumer welfare and at no time should regulatory intervention have an object of deepening private shareholders’ gains,” Wang’ombe Kariuki, the director general of the Competition Authority, said.
Safaricom has in the past been found guilty of entering restrictive agreements with its mobile (M-Pesa) money agents which prohibited the selling or promotion of services by its rivals, Kariuki said.
Full Content: Reuters, Daily Nation
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI