Tame monopolisation for fair business practices
As a citizen and an entrepreneur who has been hurt by the debilitating impact of monopolies or dominant market leaders’ practices in Kenya, I’m in full agreement with the views in an article written by Kwame Owino, the CEO of the Institute of Economic Affairs-kenya.
Mr Owino wrote about “guarding against monopolistic and cannibalistic market leader tendencies”. It is high time all concerned stakeholders appreciated and understood the high price that comes about with the non-regulation of dominant tendencies across various industries.
Indeed, the average eye may not even decipher how big brands in their respective industries create market restrictions that undermine competitive dynamics, resulting in the competition not making a profit.
Ironically, the current situation has been chaperoned majorly by government actions, by design or default, creating barriers to healthy competition and reinforcing dominance - this through unfavourable policies, regulations or the lack of procedures, programmes and commercial decisions.
It is only right for the government and the main players to fix this once and for all - for the country’s good and the consumers in particular.
Looking to the future, the Competition Authority of Kenya and the respective industry regulators need to use their powers to effectively deal with the situation.
CHARLES KEITANY, Nairobi