Illicit Trade Kenya

Sourced from Business Daily Africa. The Anti-Counterfeit Authority of Kenya has released findings of the National Baseline Survey on the extent of counterfeit and other forms of illicit trade in the country. According to the study conducted between October 2019 and February 2020, the Government revenue lost in 2018 stood at KES102.99-billion up from KES101.23-billion in 2017. Around $900-million each year. From the 16 sectors of the economy that the study concentrated on, the most affected were building, mining and construction. These three sectors were specifically and heavily affected by counterfeiting with a share of 23.37% in value of total illicit trade, followed by energy, electrical and electronics with a share of 14.67% in 2018. The sectors where most government revenues were lost ...