Retailers to pay interest on delayed supplier payments

Shoppers inside a supermarket. FILE PHOTO | AFP

Supermarkets and shop owners will now be compelled to pay suppliers interest on delayed payments in new rules published by the Competition Authority of Kenya (CAK).

The CAK says that the interest to be paid shall be agreed between the retailer and suppliers and must be included in their contracts, which shall also include the dates these interest payments will start being charged.

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