Tuesday, Sep 22, 2020
HomeWorldCompetition Authority fines Moringa School for an unauthorized merger

Competition Authority fines Moringa School for an unauthorized merger

The Competition Authority of Kenya has penalised Moringa School a fine of 503,656 shillings for implementing a merger without seeking its approval as stipulated by the competition act no.12 of 2010.

In a statement, the CAK says Moringa School and Audrey Patricia Cheng – who is the acquirer of the school voluntarily, informed the authority that they had implemented a merger in 2016 without receiving the requisite regulatory approval.

The transaction involved an acquisition of an additional 50% shareholding in Moringa school by Ms. Cheng, resulting in a change from joint to sole control.

The authority engaged the two parties and, upon interrogating the relevant documentation, confirmed that the merger had been implemented without approval. 

Moringa is a multi-disciplinary coding school offering technical and professional training.

The institution, which is headquartered in Nairobi, also has presence in Hong Kong, Pakistan, and Ghana.

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