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Carrefour’s Kenya franchisee says it will appeal $7.2 mln penalty

Carrefour’s Kenya franchisee says it will appeal $7.2 mln penalty

CARREFOUR'S franchisee in Kenya, the United Arab Emirates-based Majid al Futtaim (MAF), said that it will appeal against a 1.1 billion shilling ($7.14 million) penalty imposed by the competition authority for alleged abuse of buying power. The regulator Competition Authority of Kenya on Tuesday announced the fine, a record high in the East African nation, saying MAF Kenya was guilty of offering two local suppliers unfavourable terms. "Majid Al Futtaim has full confidence in the fairness and integrity of our business practices and is appealing the Competition Authority’s decision," the company said in a statement. In arriving at its decision, the authority…
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