The Competition Authority of Kenya (CAK) has fined nine steel manufacturers Sh338 million, the largest in its history, for market distortion and price collusion.
Corrugated Steel Ltd had the biggest fine at Sh86.9 million, followed by Tononoka Rolling Mills Ltd (Sh62.7 million), Devki (Sh46.3 million) and Doshi (Sh41.6 million).
"The companies engaged in cartel conduct whose effect was to increase the cost of construction of homes and infrastructure by artificially inflating the cost of steel products," Competition Authority of Kenya said in a statement on
