Africa-Press – Zimbabwe. The Common Market for Eastern and Southern Africa Competition and Consumer Commission (CCCC) has warned businesses across the region against profiteering and anti-competitive conduct, saying it will strictly enforce competition and consumer laws to safeguard market confidence.
The warning comes as the escalating conflict involving the United States and Israel against Iran disrupts global oil supplies, pushing prices above US$100 per barrel, the highest level since 2022, triggering fuel price increases.
Iran has also blocked the Strait of Hormuz, a critical passage through which about a fifth of the world’s oil supply flows.
The developments highlight growing risks for import-dependent economies in the Comesa region, where higher fuel costs and supply chain disruptions are likely to feed into inflation, increase production costs and create opportunities for market abuse if not tightly regulated.
CCCC chief executive officer Willard Mwemba said the crisis could tempt some businesses to exploit the situation through unfair practices.
CCCC is concerned that the Middle East crisis is likely to result in some market operators abusing the situation and engaging in anti-competitive conduct and unfair trade practices such as excessive pricing, collusion, hoarding, and price gauging,” he said.
Mwemba stressed that the commission would use its full enforcement powers to detect, investigate and penalise violations.
“The CCCC will deploy its full powers to detect, investigate and penalise infringements of the law to protect consumers and ensure markets remain fair and competitive,” he said, adding that the regulator would collaborate with member States.
However, Mwemba noted that in exceptional circumstances, certain conduct that may appear anti-competitive could be allowed if it serves a broader public interest.
He cited Regulation 39 of the Comesa Competition and Consumer Protection Regulations, which permits firms to seek authorisation for agreements that may restrict competition, provided the benefits outweigh the negative effects.
Mwemba said the commission would stand with compliant businesses and consumers during the crisis.
“The CCCC will not allow the crisis to be used as a pretext for collusion, exploitation, or deception. Maintaining trust in markets is essential to the region’s resilience, recovery and enhanced consumer welfare,” he said.
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