Competition and consumer protection in the Kenyan banking sector Phase II

This report is the final product of a market inquiry (we will refer to it as the “Inquiry”) into demand-side competition and consumer protection in the banking sector of Kenya carried out by the Competition Authority of Kenya (CAK). The Inquiry was announced by publication of the terms of reference by the CAK in the Official Gazette of Notice no. 678 on 5 February 2016. The economics firm Acacia Economics and the law firm Macmillan Keck Attorneys & Solicitors were engaged to advise and assist the CAK in conducting the Inquiry and have produced this report. An earlier Phase I market inquiry was completed in 2014 by Genesis Analytics. Phase I focused on barriers to competition in the sector from a supply-side perspective.