State Department of Trade Principal Secretary, Dr. Chris Kiptoo has today formed a taskforce for promotion of good business practice between suppliers, retailers and manufacturers.
The aim of the taskforce is to address concerns raised by suppliers, retailers and manufacturers on crucial matters such as late payments, building synergies that facilitate ease of trade and developing a shared vision for all stakeholders.
Speaking at the meeting, Dr. Kiptoo stated that the taskforce provides a platform for developing a framework by which late payment culture in Kenya among other issues will be addressed. “Late payments have been a huge problem between retailers and suppliers. Development of shared vision and guiding principles of good practices will play a key role in solving such issues,” said Dr. Kiptoo.
KAM Chair, Ms. Flora Mutahi noted that taskforce will guide the team in mitigating the challenges facing suppliers and retailers. “As KAM, our fears are based on the structural weaknesses existing in the Kenyan wholesale and retail sector which affect our efficiencies to make payments. This taskforce can address these issues through clear policy and guidelines,” added Ms. Mutahi.
The taskforce is composed of Kenya Association of Manufacturers (KAM), Retailers Association of Kenya (RETRAK), Association of Kenya Suppliers among others.