News

10th December 2015
Treasury Cabinet Secretary Henry Rotich yesterday launched the product Market Regulatory study Report at the Intercontinental Hotel in Nairobi.  
This was during the world competition day that aims at raising awareness and creating rather than imposing a competition culture among the market participants to benefit the citizens.


In his speech, Mr. Rotich said Kenya has been on the journey to deepen competition policy and law in order to transform the existing market through deregulation and dismantling regulatory obstacles which will aid in unlocking growth in the country.
“I am delighted because great strides have been made in the area of competition since the foundation was laid under the economy recovery.” said the cabinet secretary.
Mr. Rotich said the main aim of the day was to raise awareness and create rather than impose a competition culture among the market participants to benefit the citizens.
“The report, Unlocking Growth Potential in Kenya: Dismantling regulatory obstacles to competition to unlock growth in Kenya will not only improve the ease of doing business but will also help in the realization of Vision 2030.” Added Mr. Rotich
He said the government has opened up markets by removing non-justifiable regulations and empowering the Competition Authority of Kenya (CAK) to enhance the competition law.   According to Mr. Rotich, CAK will study existing and proposed policies and regulations and advice the government on their implications.
However Mr. Rotich said though the business environment improved last year, it weakened compared to 2008 when Kenya was position 78 out of 189 countries.
“The government did not give the private sector the requisite space to grow, create jobs and contribute to the desired economic development levels.” said the Cabinet Secretary.
Mr. Rotich promised that the government would interrogate the report with ultimate agenda implementation and factor it in the 2016/2017 Budget. He also urged CAK to fast-track and conclude the actualization of its frameworks which are; the Communication Authority of Kenya and the Central Bank of Kenya and conclude pending frameworks with Insurance Regulatory Authority.
Present was the CAK Director General Wang’ombe Kariuki who reckoned the enforcement of the report would be done within a year. Also present were the International Finance Corporation (IFC) county representatives; Mr. Manuel Moses and the Development Partners.
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