Secret WhatsApp chats reveal price-fixing in steel firms

Devki Group of Companies Chairman Narendra Raval pictured at the companies’ headquarters in Ruiru, Kiambu County on September 11, 2024.

Photo credit: Billy Ogada | Nation Media Group

Secret emails, WhatsApp chats and minutes of meetings helped the competition watchdog to crack cartel-like behaviour among top players in the local steel industry, which saw nine firms fined for fixing prices, restricting output, and revising the size of products.

The uncompetitive behaviour was laid bare in a legal battle between the firms and the Competition Authority of Kenya (CAK) as the steel makers sought to avoid a fine of Sh338.8 million for making illegal arrangements to control prices and interfering with product sizes.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.