Nairobi, April 27 -- Steel maker Tononoka Rolling Mills has faulted the competition watchdog for linking it to price-fixing, claiming that there was no evidence to support the allegations.

Tononoka said in submissions in the High Court that the findings of the Competition Authority of Kenya (CAK) failed to prove the existence of any price-fixing agreement.

The CAK in August 2023 slapped nine steel makers, including Tononoka, with a fine of Sh338.8 million for allegedly fixing prices, restricting output and revising product sizes. Tononoka was fined Sh62.72 million over the price-fixing claims.

The firm challenged the findings, but its case was dismissed by the Competition Tribunal in July last year, prompting it to escalate the matter ...