The Competition and Fair Trading Commission has noted with great concern that some retail chain stores have a tendency to withhold change from consumers or offer them sweets in lieu of change.
The withheld change is usually in the following denominations - Twenty Malawi Kwacha; Ten Malawi Kwacha; Five Malawi Kwacha and One Malawi Kwacha among others.
The Commission would like to inform all Retailers that the practice of withholding change from consumers or offering them sweets in lieu of change is unfair, unreasonable and unconscionable as it leaves consumers worse off than they were before the transaction. All Retailers have an obligation to have all denominations of Malawi's legal tender to facilitate fair trading conditions for consumers and the market at large.
Section 43(1)(g) of the Competition and Fair Trading Act makes it an offence for any person to engage in unconscionable conduct in carrying out trade in goods and services.
In view of this, the Commission wishes to appeal to all Retailers to cease and desist from unfair trading practices such as withholding change from consumers. Appropriate penalties will be imposed on any Retailer found withholding change from consumers or offering them sweets in lieu of change.
CHARLOTTE WEZI MALONDA (MRS)
INVITATION TO A PUBLIC HEARING
Pursuant to Section 10(2) and Section 11 of the Competition and Fair Trading Act, the Competition and Fair Trading Commission will hold a Public Hearing on Monday 21 August 2017 at Mount Soche Hotel in Blantyre from 1400hrs.
During the public hearing, the Commission will receive detailed investigation reports containing provisional findings of the cases that the CFTC Secretariat has been investigating. The schedule of cases to be considered at the public hearing is as follows:
NOTICE OF INQUIRY INTO THE PROPOSED ACQUISITION OF OPPORTUNITY INTERNATIONAL BANK OF MALAWI BY FIRST MERCHANT BANK MALAWI PLC
The Competition and Fair Trading Commission has received an application for authorization of the acquisition of Opportunity International Bank of Malawi by First Merchant Bank Malawi plc.
The acquiring firm is First Merchant Bank (FMB) plc of Livingstone Towers, Private Bag 122, Glyn Jones Road, Blantyre; a licensed commercial bank with interests in banking, asset finance, capital market and portfolio management. The target firm is Opportunity International Bank of Malawi (OIBM) of Kamuzu Procession Road, Old Town, Private Bag A71, Lilongwe; a licensed commercial microfinance bank which targets the economically active but marginalized Malawians living in under-served areas including semi-urban and rural areas. The parties have submitted that the proposed transaction will involve FMB acquiring 100% shareholding of OIBM and consequently OIBM shall cease to operate and be merged with FMB.
Notice is hereby given to interested stakeholders and the general public that the Competition and Fair Trading Commission has commenced investigations against twenty one (21) manufacturers of assorted spirits and liquor products on allegations of supplying products which are likely to cause injury to health or do not comply with prescribed consumer safety standards.
The Board of Commissioners of the Competition and Fair Trading Commission (hereinafter referred to as ''The Commission") held its 48th Meeting in Lilongwe on 5th May 2017 to consider and adjudicate over cases relating to unfair trading practices, anti-competitive business conducts; and mergers and acquisitions. These cases were brought before the Commission in accordance with Section 8 of the Competition and Fair Trading Act.
In total, the Commission considered and adjudicated over a total of twenty-five (25) cases of which nineteen (19) were on unfair trading practices while the rest were on anti-competitive trade practices.
This statement provides a summary of the Commission's determinations of the cases.
CHARLOTTE WEZI MALONDA
The Competition and Fair Trading Commission (CFTC) launched investigation against Telekom Networks Malawi (TNM) Limited for alleged anti-competitive business practice in the sponsorship of the Super League of Malawi (SULOM). In its investigations the Commission collected information from various stakeholders in football and drew insights from other football jurisdictions.
It has come to the attention of the Competition and Fair Trading Commission that the Medical Aid Society of Malawi (MASM) has not scrapped off shortfalls on medical bills to members, contrary to claims that the Society has been making in radio advertisements over the past few months. Read more
The Board of Commissioners (hereinafter referred to as ''The Commission") of the Competition and Fair Trading Commission held its 47th Meeting in Lilongwe on 3rd February 2017 to consider and adjudicate over cases relating to unfair trading practices, anti-competitive business conducts and mergers. These cases were brought before the Commission in accordance with Section 8 of the Competition and Fair Trading Act. Read more