NAIROBI, Kieni MP Kanini Kega says he will soon table a Bill in Parliament to regulate operations of supermarkets in the country in a bid to cushion suppliers and creditors against unexpected closures.
The MP said among the provisions of the new law would be a requirement for new entrants to deposit a prescribed amount of money as security with a depository institution that will act as a fallback position to unpaid suppliers and creditors.
We must have a threshold of capital for starters deposited as security to act as cushion to suppliers in case a supermarket goes down, said the MP, who is also the Parliamentary Trade, Industry and Co-operatives Committee Chair.
Speaking when he visited area Governor, Mutahi Kahiga, in his office for a leaders meeting, Kega said the move would help weed out rouge business people in retail outlet market.
He further said he would be fronting another Bill that will make it difficult for traders to import goods that can be locally produced.
He said value addition of locally produced goods including agricultural products would help end exploitation of producers by intermediaries as well as increase their earning.
His proposal comes in wake of downfall of retails outlets including the giant Nakumatt and Uchumi supermarkets that has left unpaid suppliers, creditors and workers in precarious financial state.
Source: NAM NEWS NETWORK