Competition and Fair Trading Commission (CFTC) has rolled out the Competition and Fair Trading Act.
Lloyds Vincent Nkhoma, Chief Executive Officer for CFTC confirmed this during an engagement with the media in Lilongwe.
The new Act, among others, seeks to address gaps the old law had. For instance, the new Act makes it mandatory for companies to notify the commission on mergers and acquisitions. Moreover, the commission now has power to impose administrative penalties on traders who exploit farmers.
CFTC was established under the Competition and Fair Trading Act of 1998 with a mandate to regulate, monitor, control, and prevent acts or behaviours which would adversely affect competition and fair trading in Malawi.
