Time to sell, it was all good before, those who have eyes and functional brain can see the end game. It start with a ka selfie(24b) before you know it, they’ll demand for more .
The State has received Sh24 billion backing from KCB Group for the importation of cheap foods to be distributed through 120,000 shops in efforts to lower the cost of living.
State-owned Kenya National Trading Corporation (KNTC) said on Wednesday it had secured a letter of credit—a guarantee that a seller will receive a buyer’s payment on time — from the bank to support the importation of 100,000 tonnes of household goods on a duty-free basis.
It has mapped 120,000 retail shops in the country where cheap imported foods would be stocked as the government targets to ease the cost of living that pushed inflation to 9.2 percent in February.
The import scheme intends to force other manufacturers to lower their prices of basic goods, with the government stepping in as the de facto controller of the cost of essential commodities.
How can they force retailers to lower the price when the Kenya shillings is performing poorly every week? They first need to find a way of stabilising the Kenyan shillings before making this move, otherwise this will be a temporary solution that may lower the cost of food for a week or two but after that, the cost of living will still get back up after that. This will be coated by panic buying and retailers hiding goods until the prices have gone up
Kweli tumerudi KANU error. Price controls will never work regardless of where the money comes from… the only people to suffer here are KCB if things go south.
firweni. mnataka vitu cheap na hamlimi mashamba zenu, industrial area zenu zishakuwa godowns za mzigo kutoka nchi zengine, wash your butts thoroughly and invest in some lube.
Mijinga kïpiiiiii mumama zaidiiiii umekaaa hivi fuaaaaaa ukihara ukinyamba ukidunga ukinusa uvundo ukakuambia wewe na muhahe yooooooooote ya watu wenyu wewe ndiwe wa kwanza na hii stale regurgitated news? Brare taktaka ghaseer imbilisi nyeus
Safe from dynasties? Was I in danger from them in the first place ? We did business smoothly before your high priest began that propaganda. Ng’ombe ici
They should list these shops, else ni kilio na lube.
Hapo wamesema "The import scheme intends to force other manufacturers to lower their prices of basic goods", should this be achieved by lowering taxation, lowering electricity and fuel prices, et al
That is where the rubber meets the road. Why should the govt singularity pick who to do business with? This is where the con is. A govt bigwig opens a big shop, receives goods to sell but doesn’t remit the money back to KNTC. KNTC writes to govt that it is sinking and govt bails it out and they supply goods to the same traders. Rinse recycle