By Draxon Maloya
The Competition and Fair Trading Commission (CFTC) recently concluded its 73rd meeting, where it adjudicated over 48 cases related to anti-competitive business practices and unfair trading conducts. Out of these cases, 27 were closed at the preliminary stage due to lack of merit or early resolution.
The Commission made several notable decisions, including authorizing the acquisition of 25% minority shares in Golomoti JCM Solar Corporation Limited by Old Mutual Infrastructure Investment Fund.
In a statement issued on Wednesday the Commission found that the transaction would not lead to the creation of a dominant player in the market but might result in a more competitive one.
In another case, the Commission rejected an exclusive dealing arrangement by Telekom Networks Malawi Limited in the provision of e-ticketing solutions for Super League matches, ordered to implement the e-ticketing solution with physical tickets for six months and to open the solution to other payment service providers within a year to ensure interoperability.
On penalties and refunds, the Commission has also imposed penalties on several companies found guilty of unfair business practices with Agri-Build Limited ordered to pay a monetary penalty equivalent to 1% of its annual turnover for misrepresenting products and engaging in unconscionable conduct. Similarly, Yanu-Yanu Agro-dealer was ordered to pay a penalty for misrepresenting fertilizer products.
Trust Auctioneers and Estate Agents (1980) Ltd and Mulli Brothers Limited were ordered to refund a complainant MK2,410,000.00 for unconscionable conduct, while Speed Courier & Logistics Limited was ordered to refund a complainant for the loss of a parcel and to undergo a mandatory competition and consumer protection law compliance program.
In total, the Commission ordered companies to refund money amounting to MK4.1 million to consumers.
The CFTC’s decisions demonstrate its commitment to promoting fair competition and protecting consumers in the country, aim to ensure that businesses operate in a fair and transparent manner, and that consumers are protected from unfair business practices.
