Tags: CFTC

NBM-Indebank merger stalls

  The Competition and Fair Trading Commission (CFTC) has put aside National Bank of Malawi (NBM) and Indebank merger application forms because they have not yet fulfilled some requirements. However, NBM has said there are still some issues that CFTC has to clarify before the bank can satisfy all the requirements. The stalemate comes eight…

Traders justify high maize prices

  The market for maize, Malawi’s staple grain, continues to make history with prices peaking at as high as K300 (about $0.4) per kilogramme (kg), out of reach for a majority of people. This price translates to K15 000 (about $20) per 50 kg bag. Business Review maize price inquiry in various districts and those…

APM approves competition, consumer protection reforms

President Peter Mutharika has approved reforms for the competition and consumer protection regime as part of the ongoing public service reforms in the country.   Executive director for Competition and Fair Trading Competition (Cftc), Charlotte Malonda, confirmed the approval in a statement released today. She said the reforms are key to creating a competitive and fair…

K65BN FUEL WAR

War for the control of Malawi’s K65 billion ($150 million) fuel market has ensued between two fuel companies—government-owned National Oil Company of Malawi (Nocma) and privately run Petroleum Importers of Malawi (PIL). Nation on Sunday investigations show that the cause of the fight between the two companies was Malawi Energy Regulatory Authority’s (Mera) decision to…

Nico General eyes 45% market share

Nico General Insurance Company, a subsidiary of Malawi Stock Exchange (MSE)-listed financial services group Nico Holdings Limited, has touted 2014 as a good year for business and plans to grow its market share next year to 45 percent from 33 percent. The insurance firm, according to its chief executive officer Eric Chapola, said in the…

CFTC presses for orders against Masm

Malawi’s consumer protection agency, the Competition and Fair Trading Commission (CFTC) has pressed for orders against the Medical Aid Society of Malawi (Masm), Pep Stores and Alpha Milling. In a public hearing that took place on May 16 at Sunbird Mount Soche Hotel in Blantyre, the CFTC secretariat, presenting its arguments to the Competition Commission…