Africa-Press – Malawi. The State-owned Competition and Fair Trading (CFTC) has ordered over 50 companies to pay a fine of K11 million for unfair trading practices. The Commission has also ordered payment refunds amounting to K2.9 million for committing different offences.
CFTC Acting Executive Director Apoche Itimu told reporters on Thursday in Lilongwe during a press conference on the update on decisions by the Commission that the commission considered and adjudicated a total of 58 cases of unfair trading practices and 8 cases of anti-competitive business practices.
“Once we have made our determinations, we register them as high court judgments because that’s what the law under competition and fair trading act provides,” she said.
If the respondents do not comply with the order given by the commission, the Commission can enforce them as high court cases, she said. Itimu added that the Commission gives the respondents 30 days to pay fines or 15 days to appeal.
She said the determination came following a Commission’s meeting held in Salima in November, 2021. Some of the companies fined for violating laws include: Bowlers Beverages, Sana Cash & Carry Megastore, City Mall Supermarket, Food Lovers Market, Kalaria Wholesale and First Merchants Bank among others.
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