CAK gives suppliers more time to report delayed payments
Tuesday, June 16, 2020 0:01
By JAMES KARIUKI
Competition Authority of Kenya boss Wang’ombe Kariuki.
FILE PHOTO | NMG
The Competition Authority of Kenya (CAK) has extended the time for receiving information on late payments by suppliers and manufacturers to facilitate determination of penal action against retailers.
Speaking when he hosted Kenya Association of Manufacturers (KAM) top officials in Nairobi, director-general Wang’ombe Kariuki said CAK would also look at new supplier-retailer agreements extending payment timelines beyond the 60–day cap for payments.
CAK’s move to extend late payment reporting period that lapsed mid-last month could have been informed by an unwillingness by suppliers, especially small and medium manufacturers, to report retailers who offer them a one-stop regional market for fear of being victimised.
An interim CAK report revealed late payments were largely due to the impact of Covid-19 on the retail sector.
