Competition Authority of Kenya

A new chapter begins as Prof. Kithure Kindiki is sworn in as Deputy President. The Authority remains committed to executing its mandate of promoting effective competition in markets, contributing to economic growth outlined in the Bottom Up Economic Transformation Agenda.

In exercise of its mandate of controlling mergers and acquisitions in the country, the Competition Authority of Kenya has approved the proposed acquisition of sole control of Ramco Plexus Ltd. by Ramco Inc. unconditionally. The approval has been granted on the finding that the transaction in unlikely to negatively impact competition in the market for printing and packaging, nor elicit negative public interest concerns - the two key considerations during merger analysis. The proposed transaction involves the exit of Amethis from Ramco Plexus. The transaction results in a change from joint to sole control of the target by the acquirer and, therefore, qualified as a merger within the meaning of Section 2 and 41 of the Competition Act CAP 504. According to the parties, the proposed transaction will facilitate execution of a growth strategy, enhance the business’ agility and responsiveness to prevailing market dynamics, and increase operational efficiencies. Ramco Group

Senior representatives of Bowmans (Law Firm) Kenya paid a courtesy call on Mr. David Kemei, the Authority’s Director-General (in red tie), to discuss matters of mutual interest. From the far right, Ms. Joyce Karanja (Partner), Mr. Paras Shah (Managing Partner, Kenya), and Mr. Wang'ombe Kariuki, MBS (Competition Law & Trade Policy Consultant).

Merging parties whose combined turnover or assets, whichever is higher, is over Ksh. 1 Billion are required to seek approval from the Authority prior to implementing the proposed transaction. The transaction between Access Bank Plc and National Bank of Kenya met this threshold for mandatory notification and full analysis as provided in the Competition (General) Rules, 2019 and the Competition Act CAP 504.

The proposed transaction involves acquisition of the entire issued share capital of NBK by Access Bank Plc from KCB Bank Group Plc. The transaction also involves acquisition of indirect control of NBBIL. Post-merger, the acquirer intends to amalgamate the target and its Kenyan subsidiary, Access Bank (Kenya) Plc. Merging parties whose combined turnover or assets, whichever is higher, is over Ksh. 1 Billion are required to seek approval from the Authority prior to implementing the proposed transaction. The transaction met this threshold for mandatory notification and full analysis as provided in the Competition (General) Rules, 2019 and the Competition Act CAP 504.       The proposed acquisition was initially notified to the COMESA Competition Commission (CCC). However, the Authority requested for and received referral of the Kenyan aspect of the transaction as provided under the COMESA Competition Regulations.

In exercise of its mandate of controlling mergers and acquisitions in the country, the Competition Authority of Kenya (the Authority) has conditionally approved the proposed acquisition of the entire issued share capital of National Bank of Kenya Limited (NBK) by Access Bank PLC. The transaction has been approved on condition that Access Bank Plc retains, for a period of one (1) year following completion of the transaction, at least of 80% of the target’s current workforce and all Access Bank (Kenya) Plc employees, its local subsidiary. Currently, the target has 1,384 employees while the acquirer’s Kenyan subsidiary has 316 staff members. In Kenya, the NBK controls two undertakings: i)    NBK Bancassurance Intermediary Limited (NBBIL) which engages in bancassurance. This entity is part of the transaction. ii)   KCB Asset Management Limited which engages in fund management and investment advisory services. This entity is NOT part of the proposed transaction since it had been transferred to KCB Group Plc.

The Authority is seeking to fill eight (8) vacancies that have arisen in various functional areas. See attached flyer for more details. The job descriptions & specifications are available on the Authority's Website -> https://lnkd.in/dnsXqSaD Deadline: 12th Nov. 2024 at 5PM.

The CAK fraternity wishes our heroes, the Kenyan public, a happy Mashujaa Day.

And that's a wrap for #ACER2024! On Thursday, we hosted a book launch cocktail and networking event for our forthcoming book co-edited by myself, Simon Roberts and Jonathan Klaaren. To be published by HSRC Press, the book is entitled 'Regulating for Rivalry: The Development of Competition Regimes in Africa'. It is a compilation of chapters from papers presented at previous ACERS, along with other CCRED-related work. https://lnkd.in/diRDKePc Centre for Competition, Regulation and Economic Development (CCRED)

During the official closing of the #CAKSymposium, CAK Board Member, Ms. Lena Munuve emphasized the importance of regional collaboration & knowledge sharing among competition agencies in Africa, and the need to enhance research for well-informed and data-driven decision-making. "In these times of limited resources, both financial and human, there is need to more collaboration when undertaking cross-border investigations into anti-competitive conduct, especially cartels. There is also need for us to work together in harmonizing merger analysis, to reduce bureaucracies & costs for investors, as well as partner in undertaking market inquiries," she said. Centre for Competition, Regulation and Economic Development (CCRED) COMESA Competition Commission Reena Das Nair Simon Roberts Ninette Kaari Mwarania, MKIM Shamba Centre for Food & Climate Shaka Kariuki