Majid Al Futaim which operates the supermarket chain Carrefour has stated that it will appeal the decision by the Competition Authority of Kenya (CAK) over abuse of power.
This comes after the Competition regulator slapped Carrefour with a Ksh1.1 billion fine in addition to Ksh16,757,899 it was ordered to refund Woodlands and Pwani Oil in rebates deducted from their invoices.
In a statement, Carrefour noted that the decision by CAK comes despite the withdrawal of the complaint and renewed partnership agreements that it inked with Woodlands Company Limited and Pwani Oils Limited.
“Majid Al Futtaim has full confidence in the fairness and integrity of our business practices and is appealing the Competition Authority’s decision,” stated Carrefour.
“We take pride in working collaboratively with all our suppliers to create a more sustainable and equitable business environment through ongoing engagement and transparent communication,” it added.
Read: Competition Watchdog Slaps Carrefour Ksh1.1 Billion Fine For Abuse Of Buyer Power
Further, Carrefour reiterated that it is committed to upholding the highest standards of global best practice, including antitrust and competition laws to encourage fair competition in all aspects of its businesses.
“This includes protecting the purchasing power of Kenyan citizens by offering trusted cost-mindful, locally-sourced, high-quality products; creating more than 7,000 direct and indirect jobs and career opportunities for Kenyan talent; and broadening trade prospects for supplier partners to export their products across Majid Al Futtaim’s regional network of operations,” Carrefour added.
Carrefour, which has been in operation in the country since 2016 has further stated that it will “continue working to the benefit our customers, partners and stakeholders to ensure meaningful contribution to Kenya’s development agenda in creating a globally competitive and prosperous nation through sustainable business operations and our long-term social support and initiatives in education, health, social inclusion, and poverty eradication.”
Read: RETRAK Voices Concerns On Competition Regulator Fine On Carrefour