President Uhuru sounds warning to traders hiking prices over the coronavirus

President Uhuru Kenyatta has warned Kenyan businesses planning to take advantage of the coronavirus epidemic to reap profits.

President Uhuru was speaking while meeting banking sector stakeholders who outlined ways in which Kenyans will be cushioned against the effects of the epidemic.

“To our traders and supermarkets, do your business but do it justly, no one is opposed to you making profits but indeed it is highly immoral if you take advantage of an unfortunate situation to make huge profits,”

During the same address, the president said that the government had begun crackdown on unscrupulous traders who were hiking the prices of essential products.

“Please, when it comes to hand sanitizers, to food and other goods and services, I appeal to you to act like the way our friends in the banking sector have done, act in the interest of our country,” He added.

At the same time, the president said it is through working together that Kenyans will be able to get through the trying times.

He was speaking against a backdrop of claims that some traders had hiked prices following a confirmation of positive coronavirus cases in the country.

On Monday, the Competition Authority of Kenya said it had established that the price of Tropical brand hand sanitizers, which retails at Ksh.800, was increased to amounts as high as Ksh.1000 at Cleanshelf Supermarket.

The Competition Authority of Kenya termed the move as exploitation of customers, demanding that Cleanshelf contacts all customers who purchased the product and refund them within the next 10 days.

“The retailer therefore exploited its relative strength as a retailer to commercially detriment consumers whose bargaining position has been diminished following the pronouncement of existence COVID-19 in Kenya.