Watchdog probes steel companies over price-fixing

Iron metal used for construction. PHOTO | FREDRICK ONYANGO | NMG

The competition watchdog has launched a probe into the country’s top steel manufacturers over allegations of price-fixing blamed for the elevated costs in the construction industry.

Competition Authority of Kenya (CAK) said they received information there were informal pricing arrangements in the sector and launched countrywide raids on the premises of top steel manufacturers to secure evidence.

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