Fake goods cost Kenya ‘Sh40bn’ yearly, says KAM
Some counterfeit goods and exports diverted to the local market confiscated by KRA. Photo/FILE
What you need to know:
- Association chairman Steven Smith said that such products have also exposed the local business people to unfair competition adding that some were a health risk to citizens.
Counterfeits and substandard goods could be costing the country over Sh40 billion loss in revenue per year, the Kenya Association of Manufacturers has said.
Association chairman Steven Smith said that such products have also exposed the local business people to unfair competition adding that some were a health risk to citizens.
“Apart from unfair business competition, these counterfeits and substandard goods also affect the tax base of the country,” said Mr Smith who is also the Eveready East Africa chief executive officer.
He said that his association will push for the enactment of the Counterfeit Bill 2008 to protect local consumers and business community.
“Enactment of the Bill will help us improve our capacity in business and protect the industry even in days to come,” said Mr Smith.
He said that KAM is working closely with the private sector to find ways of facilitating dialogue with legislatures to try and ensure that appropriate Bills that enjoy support from all stakeholders in the business industry are passed by parliament.
“We can contain the entry of counterfeit goods and substandard goods into the country if we implement the right laws and encourage relevant departments to act,” said Mr Smith.
He spoke in Kisumu on Tuesday during the KAM Nyanza chapter annual general meeting.
