Malawi commemorates competition day
The Competition and Fair Trading Commission (CFTC) executive director Lloyds Nkhoma says there have been rising concerns on anti-competitive conduct and unfair trading practices following recent economic shocks Malawi experienced.
His sentiments come as Malawi today joins the global community in commemorating the World Competition Day, which falls on December 5.
He said that with the shocks, most markets have experienced significant disruptions to their production and value chains, resulting in price hikes.
Said Nkhoma: “Concurrently, concerns have risen regarding various anticompetitive conduct and unfair trading practices, affecting competition and innovation in various sectors. Competition is a fundamental staple of economic recovery.
“Competition policy enforcement can support the economic recovery by redirecting enforcement resources towards strategic markets and industries considered important for the recovery process.”
Malawi is commemorating the day under the theme ‘Role of competition in enhancing economic recovery’.
