COMPETITION LAWS STIFFENED

....ensuring that the tenets of competition were promoted, completion was safeguarded and consumers were adequately protected especially in the context of globalisation and cross border trade.

AREVISED cooperative framework agreement between the COMESA Competition Commission (CCC) and the Competition and Consumer Protection Commission (CCPC) has been sealed by the two institutions to curb anti-competitive conduct and consumer exploitation.

The revised framework is among others, expected to formalise closer cooperation between the CCPC and CCC in the form of merger notification, exchange of information, coordination of actions, and consultation

Since the initial signing of the Cooperation Framework in 2018, the two institutions have resulted into the successful assessment of a total of 98 mergers with a regional connection, says CCPC acting Executive Director Brian Lingela.

Mr Lingela said the two institutions had in the last four years proactively worked together to enhance predictability and efficiency in merger regulation, which has led to a reduction in the cost of doing business.

“You may wish to know that through these 98 cross border mergers affecting Zambia over the last four years, Zambia through our National Treasury has received up to K14, 240, 334.47 in notification fees.

“Through cross border mergers like these, the Commission will continue contributing to Foreign Direct Investment into the country,” he said at the signing ceremony in Lusaka recently.

Mr Lingela said this framework would provide an enhanced platform for the Commission and CCC to address some of the procedural and substantive challenges that were likely to arise in cross-border investigations in competition and consumer protection matters.

At the same function, Ministry of Commerce, Trade and Industry Permanent Secretary John Mulongoti recognised that the agreement had already shown much promise in the last four years.

He said this in a speech read by the ministry’s Director for Domestic Trade Margaret Chikuba.

Mr Mulongoti said the ministry remained committed to ensuring that the tenets of competition were promoted, completion was safeguarded and consumers were adequately protected especially in the context of globalisation and cross border trade.

Mr Mulongoti expected the two institutions to be in constant and seamless communication with each other to realise the benefits of the agreement.