CFTC starts competition compliance programmes

Post was last updated: November 12, 2015

The Competition and Fair Trading Commission (CFTC) has embarked on competition compliance programmes aimed at helping local companies detect and address any practices that would lead to breach of the competition and consumer protection law.

CFTC says the compliance programmes will further help enterprises reduce the risk of infringing the country’s competition rules and ensure that commercial agreements and arrangements are structured in a manner that minimises potential competition concerns.

“The programme also aims to reduce the risk of members of staff engaging in practices that can lead to investigations into suspected anti-competitive behaviour, and it enables enterprises to handle investigations,” said CFTC Director of Mergers and Acquisitions, Richard Chiputula when he presided over a compliance workshop at Game Haven Lodge in Thyolo co-organised by Press Corporation Limited and CFTC.

Chiputula pledged CFTC’s support in implementing the programmes should any other companies wish to take up the programme.

PCL Group operations executive designate, John Biziwick said the meeting was informative and he encouraged businesses to be proactive.

“As businesses, we need to sensitise all our members of staff about the laws governing competition and fair trading in Malawi to ensure effective compliance,” said Biziwick.

The PCL compliance programme workshop was attended by about 30 top executives from the conglomerate’s subsidiaries including National Bank of Malawi, Malawi Telecommunication Limited (MTL), Telekom Networks Malawi (TNM), Macsteel Malawi, PTC, Carlsberg Malawi, Press Properties, Food Company, Press Cane, Ethanol Company of Malawi, and Puma Energy Malawi.

CFTC has so far delivered similar compliance programmes for competition and consumer protection law to the country’s two mobile telephone service providers, TNM and Airtel Malawi as well as health insurance service provider, Medical Aid Society of Malawi (Masm).

(Visited 20 times, 20 visits today)

Let us know what you think of this update and remember to add us on our facebook and follow us on our twitter. Make sure to come back daily for more Malawi business news updates.

Quick Links: Malawi Banking News | Malawi Technology News | Download Business eBooks | Ten Signs You Are An Entrepreneur | What is a Managing Director?

Today’s top business story: Top Commercial Banks In Malawi

Source link