The Competition and Fair Trading Commission (CFTC) will lead consumers and traders in the country in celebrating this year’s World Consumer Rights Day (WCRD) on Saturday 15th March, under the theme “Fairness in Pricing for a Sustainable Future.”
In choosing the theme for Malawi, the CFTC has been motivated by an increase in the number of complaints due to escalation of prices of goods and services. The CFTC has registered a substantial number of complaints in the current year bordering on suspicions of excessive and exploitative pricing of products and services.
Traditionally, World Consumer Rights Day falls on 15th March every year and is an annual occasion for celebration and solidarity within the international consumer movement. The day is observed by promoting the basic rights of all consumers and demanding that they are respected and protected at all times.
The CFTC is mindful that fair pricing plays a crucial role in establishing trust and fostering long-term relationships between businesses and customers besides safeguarding the economic interests of consumers. Unfair pricing practices can, therefore, have far-reaching negative consequences on the livelihood of consumers through, among others, exacerbating poverty and inequality.
As we celebrate this year’s World Consumer Rights Day, it must be emphasized that fair pricing is not only essential for achieving price transparency, but also for fostering a healthy and sustainable market environment that benefits both businesses and consumers.
The main commemoration activity for the day will be a panel discussion that will be aired on Zodiak Radio, TV and Facebook on Saturday, 15th March, 2025 from 6.00 pm. The panelists for the discussion will include officials from CFTC, Ministry of Trade and Industry, COMESA Competition Commission, and the Economics Association of Malawi.
For media enquiries regarding this statement, contact Innocent Helema on +265 880 725 075 or email innocent.helema@cftc.mw.
Lloyds Vincent Nkhoma
CHIEF EXECUTIVE OFFICER