Majid Al Futtaim, the exclusive operator of Carrefour in Kenya, expressed astonishment in response to the recent ruling by the Competition Authority of Kenya (CAK) imposing a Sh1.1 billion fine.

The decision, according to the company, is surprising given the withdrawal of the complaint and the renewal of partnership agreements with Woodlands Company Limited and Pwani Oils Limited.

"Majid Al Futtaim was surprised by the recent decision made by the Competition Authority in Kenya, which comes despite the withdrawal of complaint and renewed partnership agreements that have been signed with Woodlands Company Limited and Pwani Oils Limited," Majid Al Futtaim stated.

The retail giant asserts its confidence in the fairness and integrity of its business practices and has initiated an appeal against the CAK's verdict.

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Carrefour in Kenya, under the management of Majid Al Futtaim, boasts a robust network comprising over 700 supplier partners, with 300 longstanding collaborators since the commencement of operations in the country in 2016.

Emphasizing collaborative efforts with suppliers, the company takes pride in fostering a sustainable and equitable business environment through continuous engagement and transparent communication.

As a prominent regional retailer, Majid Al Futtaim expressed its unwavering commitment to upholding the highest global best practices, including compliance with antitrust and competition laws.

"As a leading regional retailer, Majid Al Futtaim is committed to upholding the highest standards of global best practice, including antitrust and competition laws to encourage fair competition in all aspects of its businesses," the company asserted.

The company aims to promote fair competition across all facets of its operations, safeguarding the purchasing power of Kenyan citizens by providing cost-conscious, locally-sourced, high-quality products.

In addition to its business commitments, Majid Al Futtaim emphasizes its role in contributing to the Kenyan economy by creating over 7,000 direct and indirect jobs and career opportunities for local talent.

The company also noted it plays a vital role in expanding trade opportunities for its supplier partners, facilitating the export of their products through Majid Al Futtaim's extensive regional network.

In a statement, Majid Al Futtaim reiterated its dedication to benefiting customers, partners, and stakeholders.

The company aims to make a meaningful contribution to Kenya's development agenda by fostering a globally competitive and prosperous nation through sustainable business operations.

This commitment extends to long-term social support and initiatives in areas such as education, health, social inclusion, and poverty eradication.

"We will continue working to the benefit our customers, partners and stakeholders to ensure meaningful contribution to Kenya's development agenda in creating a globally competitive and prosperous nation through sustainable business operations and our long-term social support and initiatives in education, health, social inclusion, and poverty eradication," Majid Al Futtaim stated.

As the appeal process unfolds, Majid Al Futtaim remains resolute in its pursuit of fair business practices and the advancement of Kenya's economic and social development objectives.