CFTC slaps unfair trading companies with K14m fines

Malawi Government-subvented Competition and Fair Trading Commission (CFTC) has ordered companies to pay fines and refunds totaling K13.9 million for unfair trade practices.
The fines include a total of K4 million in fines and MK9.9 million in refunds to consumers after holding its meetings on 9th March and 11th May 2023.

CFTC Executive Director, Lloyds Vincent Nkhoma ordered companies to pay fines for unfair trading.
CFTC Executive Director Lloyds Vincent Nkhoma told journalists on Tuesday in Lilongwe that following the meeting the Commission had, they considered and adjudicated over a total of 86 cases, which included 72 cases of unfair trading practices and 14 cases of anti-competitive business practices.
Nkhoma said these companies failed to comply with fair trading rules and  regulations in the past quarter of the year, hence the need for action as they are governed by the law.
“Some of the cases include alleged exclusion for liability for defective goods, misleading conduct, unconscionable conduct, supply of products likely to cause injury to health or physical harm to consumers, and non-disclosure of material information,” elaborated Nkhoma.
Some of the 14 companies slapped with fines after complaints against are AFTO Energy Limited, Glale Enterprises, Mzuzu Sprint Printers, Ampex Courier, Sana Food Court, VIP Courier, National Bank,  Autocom Japan,  Airtel Malawi Plc, and Central Poultry.
Meanwhile, cases against Atsikana Paulendo Private Schools, one for Airtel and Ankolo Courier were resolved on contact and dialogue as its basis were intangible enough for the Commission slap them with fines.
CFTC Executive Director however expressed the need to fast-track amendment of the Competition and Fair Trading Act that was first enacted in 1998.
He added, “This is an overarching law as the fines stipulated do not match with the current situation following change of things overtime.”
The Competition and Fair Trading Commission (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.
Upon a person lodging a complaint against unfair trading practices at no charge, the commission institute investigations on unfair trade practices including violations of consumer rights and taking necessary steps to facilitate redress.

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Edwin Mwale
Edwin Mwale
1 year ago

How can I contact CFTC? I need help

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