The Competition and Fair Trading Commission has launched a new Strategic Plan which will run for a five-year period from 2021 to 2026. The Commission—whose mandate is “To regulate, monitor, control and prevent acts or behaviours, which are likely to adversely affect competition and fair trading in Malawi.”
In discharging its mandate, the Commission aimsto effectively respond to the ever-changing business environment through guidance provided by this Strategic Plan. The new Strategic Plan replaces its precursor which ran from 2015 to 2020.
The previous Strategic Plan mainly focused on four strategic pillars, namely: competition advocacy and mass awareness; market regulation and monitoring; competition and fair trading laws enforcement; and institutional capacity.
Under the previous strategic plan, the Commission registered a number of successes including, enhanced visibility of the Commission; improved market regulation; improved enforcement of the Commission’s decisions and competition and consumer protection law; and enhanced institutional capacity of the Commission.
Despite these successes, the Commission still faced challenges. These challenges included inadequate human and financial resources to enable the Commission operate optimally; and absence of a digitized information management system for improved handling of complaints at the Commission.
With the challenges in mind and in order to effectively deal with various competition and consumer protection issues on the market, this Strategic Plan is rooted on five Strategic Pillars namely; Competition Regulation, Consumer Protection, Advocacy and Awareness, Financial Management and Sustainability and Corporate Governance and Management. In order to deliver on each Strategic Pillar, the Commission developed a total of thirteen Strategic Objectives. It is envisaged that the successful achievement of these Strategic Objectives will create a competitive and fair trading environment in Malawi.
Among other targets earmarked to be achieved by 2026, the Commission wishes to digitalize its systems, increase its revenue streams, construct its own office complex, open regional offices in the North of Malawi and enhance its research and development.
The development of this Strategic Plan reflects the Commission’s commitment to ensure effective, efficient and responsive delivery of its mandate, mission, vision and goals. It is hoped that this Strategic Plan will effectively contribute to the attainment of the Government’s development agenda as it has been developed in line with the Constitutional Principles, the Malawi Vision 2063 and the Malawi Growth, Development Strategy (MGDS) III and Public Reform Policy among other national legal and policy documents. Although creation of a conducive environment is the Commission’s mandate, this can only be effective if all development policies are aligned so that there is a level playing field.
For more information on this statement, you may contact Innocent Helema on 0880725075. You may also send an email to [email protected].
DR. JERRY JANA