Competition Authority raids steel millers

Wang'ombe Kariuki, Director-General, Competition Authority of Kenya (CAK) Reports indicate that the Competition Authority of Kenya (CAK) raided a couple of steel millers and carted away books of accounts. According to sources, those affected were Tononoka, Apex, Abysinia. No explanation was given for the raid. In the recent past, it has increasingly become easy for top govt officials to run private businesses to the ground, through harassment of tax evasion by Kenya Revenue Authority (KRA). The idea is to collapse such businesses so that top govt officials buy them for a song. The raids on Keroche Breweries and African Spirits Limited, which were slapped with tax evasion claims, are cases in point. Cnyakundi.com hopes this is not the case in the raid of the steel millers. More to follow