The Common Market for Eastern and Southern Africa (COMESA) Competition Commission has celebrated 10 years of excellence with a call to continue its efforts to promote and regulate competition in Common Market.
Malawi Minister of Trade and Industry, Simplex Chithyola Banda made a call when he presided over the commemorations on Thursday in Lilongwe.
He said the regional Commission’s accomplishment in regulating competition, particularly mergers, restrictive business practices and consumer protection has without doubt been seen outstanding and deserves recognition.
“Through regulating competition the commission is ensuring that the harmful effects of monopolies and cartels are averted,” he said.
Chothyola Banda said the Commission’s work is central to ensuring that the trade liberalization agenda in the Comesa region promotes growth and leads to poverty reduction.
He therefore commended the Commission for the role played in the past 10 years in promoting and encouraging competition within the common market by preventing restrictive business practices.
COMESA Secretary General, Chileshe Kapwepwe said for the past 10 years COMESA through the Commission has addressed most challenges by increased and improved regulations.
“The Commission has stepped up efforts by focusing on merger control, consumer protection as well as business practices among others ” she said.
Earlier, Comesa competition commission Chief Executive Officer, Dr Willard Mwemba said for the past decade, they have reviewed almost 369 mergers and acquisitions with a turn over of $210 billion.
Since 2013, the regional Commission has been promoting competitive markets and enhancing the welfare of consumers in the common market.