In his remarks, the Senator argued that although the country presents itself as a devolvednation, key sectors of the economy remain tightly controlled by cartels that operate with political protection.
He said this has limited fair competition and slowed down meaningful economic progress across different industries.
He pointed to the rice import sector as one of the areas where he believes irregular practices are taking place.
According to him, it is concerning that a single company based in Mombasa is reportedly able to control access to importation by distributing exemption codes to other players in the market.
He described this situation as unacceptable and warned that it undermines the principles of fair trade.
The Senator further alleged that such arrangements amount to economic sabotage, arguing that revenue which should be collected by the Kenya Revenue Authority and benefit citizens is instead being diverted into private hands.
He said this loss of public funds weakens government capacity and denies Kenyans the benefits of taxation and economic growth.
He stressed that what is happening cannot be considered legitimate business, but rather a system that enables what he termed as legalized looting.
He called for urgent and decisive action to address the issue, insisting that continued tolerance of such practices would only deepen inequality and hinder national progress.
Ledama also emphasized the need to dismantle monopolistic structures that allow a few well-connected individuals to control entire sectors of the economy.
He argued that without reform, industries such as agriculture, cement, and paper production risk remaining concentrated in the hands of powerful groups rather than being open to broader participation.
According to him, devolution was intended to distribute economic opportunities more evenly across the country, but its promise has not been fully realized in practice.
He said that for devolution to be meaningful, industries must be spread across different regions to ensure inclusive growth and equitable development.