The government is planning to anchor the retailers' payment code of conduct in the existing Competition Act or the Trade Development bill before parliament. According to the Kenya Association of Manufacturers, the self-regulatory code currently in practice needs to be anchored in law to further restrict traders who unjustifiably hold suppliers payment. The code creates room for a Sh10 million penalty or a five-year jail term for traders who unreasonably hold suppliers payments. While at that, the Competition Authority has reactivated its Buyer Power department to regulate relationships between retailers and suppliers. Retail trade largely comprises of micro, small and medium enterprises retailing goods and services that are sold to final consumers either in supermarkets, kiosks or other outlets.

Source: The Star March 11, 2019 02:23 UTC