Monday, February 6Malawi's top news source


Shops and companies forfeiting customers’ change, as small as K1, risk attracting a minimum of K500, 000 fine.

Competition and Fair Trading Commission-CFTC has shot the warning while calling on Malawians to report shops that refuse to give back change to customers for purchasing goods at uneven prices such as K1999 with the buyer entitled to K1 as change.

CFTC’s Acting Director for Consumer Affairs, Augustine Nyirenda was speaking in Mzimba I. Friday; arguing even though the K1 may look small but collectively its huge money to traders.

“Traders have the right to sell goods at a round figure or not. If they knew that finding coins of one kwacha as change would be difficult, they wouldn’t be selling their goods at uneven prices. You know what, if a shop receives 20,000 customers per day and all of them leave their 1 Kwacha, it means they are making undeserved K20,000 profit per day, ” he explained.

During the meeting, consumers asked CFTC to open offices in districts for easy reporting of unfair trading cases as currently they have offices in Lilongwe, Mzuzu and Blantyre.

Related News
Felix Chitera Head of Alternate Channels

Felix is the Head of Channels at MyBucks since April, 2020. He is responsible for the digital channels and agency Read more

Chitera appointed Acting MD for FDH Bank

Chitera appointed Acting MD for FDH BankChitera appointed Acting MD for FDH BankAfrica-Press – Malawi. The Board of Directors of Read more

Katsonga Launch Pyxus Agriculture Limited Groundnut Processing Plant

Minister of Trade and Industry Mark Katsonga Phiri says the launch of the Pyxus Agriculture Limited Groundnut Processing Plant will Read more

Airtel sells its towers in Malawi for over K45 billion

Airtel Africa has sold its 723 towers in Malawi to Helios Towers, an independent telecommunications infrastructure company, for US$55 million Read more

AHL To Sell 30% Foreign Exchange To RBM

Reserve Bank of Malawi has ordered Auction Holdings Limited to begin a mandatory sale of 30 percent of it's foreign Read more

Airtel Malawiโ€™s Telecommunications Tower Sold To London-based Helios Towers Plc

The sale of Airtel Malawi’s telecommunications tower to London-based Helios Towers plc will help Airtel to improve and strengthen its Read more

Banki Mkhonde women trained in business management

A Mchinji based organization, Girls Activist Youth Organization (GAYO) has trained village savings loan groups locally known as Banki Mkhonde Read more

Forex Shortage Hit Airline Business Operations

Malawi’s forex shortage is threatening operations in the airline business, creating uncertainty on the future of the industry, Business News Read more

Fuel Hike To AAffect Tobacco Market

Local tobacco producers are expressing fear that this year’s tobacco market will be affected by the recent fuel price hike. Read more

News To Read

Leave a Reply

Your email address will not be published. Required fields are marked *