The government is committed to building an open, fair and competitive economy National Treasury PS Chris Kiptoo during the opening of the inaugural Research Conference on Competition and Consumer Welfare, organised by the Competition Authority of Kenya (CAK) in Nairobi.
/HANDOUT Calls for stronger regulation of Kenya’s rapidly expanding digital economy dominated discussions at the inaugural Competition Authority of Kenya (CAK) Research Conference in Nairobi. Policymakers warned that gaps in oversight are exposing consumers to online scams, misleading business practices and anti-competitive conduct.
The two- days conference brought together regulators, researchers, policymakers and private sector players to examine how Kenya can harness the opportunities presented by digital markets while safeguarding consumers and ensuring fair competition. Speaking at the forum, National Treasury Principal Secretary Chris Kiptoo emphasized the need for a well-regulated market environment that supports innovation without compromising consumer welfare.
He reiterated the government's commitment to building an open, fair and competitive economy where businesses can compete on equal terms while consumers remain protected from exploitation. Kiptoo noted that effective competition and consumer protection frameworks are critical in sustaining investor confidence and supporting economic growth in an increasingly digital marketplace.
The concerns come at a time when Kenya's digital economy is expanding rapidly, driven by growing internet penetration, mobile money adoption, e-commerce and digital financial services. State data shows that the country’s digital economy is currently valued at $7 billion or Sh905 billion and is projected to expand to $100 billion or 12.7 trillion by 2035.
While these developments have improved access to services and created new business opportunities, regulators say they have also created fertile ground for fraudsters and unscrupulous operators. Competition Authority of Kenya’s chairman Charles Mahinda warned that the rise of digital platforms requires regulatory approaches that can keep pace with technological change.