Competition and Fair Trading Commission (CFTC) Executive Director, Charlotte Wezi Malonda, has called on the media and the private sector to take a leading role in safeguarding the welfare of consumers.
Speaking at Sunbird Capital Hotel in Lilongwe on Monday when CFTC organized a sensitization meeting with the private sector and business journalists, Malonda said the high turnout demonstrated the passion by private sector and the media as CFTC continued to reach out to relevant stakeholders.
“The personal presence of Chief Executives here demonstrates the commitment and passion the private sector in Malawi attaches to issues affecting our economy.
“This demonstrates the strong working relationship between government and the private sector as crucial partners in driving the development agenda for our beautiful country,” she said.
Malonda added that a lot of people were not aware of the Competition and Fair Trading Act adopted by parliament in 1998, hence the need to engage various players of the economy in sensitization and advocacy campaigns.
“The commission has decided to engage various stakeholders including the private sector and the media in sensitization and advocacy campaign so that we are all aware of our rights and obligations under the act.
“It is our expectation that this meeting will continue fostering adherence to competition and fair trading principles leading to a significant reduction to anti-competitive and unfair business practices,” said the CFTC Executive Director.
She said despite relying on tips from the general public, CFTC has the power to investigate complaints and drag to court where the party continues not to comply with the rules.
The Competitions and Fair Trading Act enumerates a number of business practices which are anti-competitive.
Competition and Fair Trading Commission is an autonomous government agency operating under the Ministry of Tourism mandated to regulate, monitor, control and prevent acts or behavior which are likely affect competition and fair trading in the country.