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Comesa journalists updated on competition regulations, trade and regional integration |05 August 2016

 

 

 

Journalists from member states of the Common Market of Eastern and Southern Africa (Comesa) have been educated on the provision and application of the Comesa Competition Regulations.

They have also been updated on recent developments pertaining to the trade and regional integration agenda within the region and the continent.

This was during a regional workshop on the subject for business reporters which took place in Livingstone, Zambia.

Seychelles was represented by Seychelles NATION journalist Marylene Julie.

The Comesa Competition Commission (CCC) is mandated to apply the provisions of the Regulations with regard to trade between member states and is responsible for promoting competition and enhancing the welfare of consumers in the common market.

Its policy and law is about applying rules to make sure that businesses and companies compete fairly with each other for the benefit of the consumer.

And the business reporters’ role is to assist the commission in such a mandate and educate the public in this area.

In Seychelles, the Fair Trading Commission (FTC) is the regulatory body which ensures the CCC regulations are adhered to.

The main functions of the commission are to prohibit, monitor and investigate anti-competitive business practices; control mergers and other forms of acquisitions; mediate and promote the implementation of competition law and policy in the common market.

CCC commenced its operations in 2013 and its headquarters is in Lilongwe, Malawi.

Regarding mergers and acquisitions, the commission’s regulations require that whenever a company acquires control over the operations of another company, it should seek approval from the commission which assesses whether the acquisition does not harm other companies in the region and is beneficial to consumers.

The workshop was hosted by the director and chief executive of the Comesa Competition Commission, George Lipimile, helped by Williard Mwemba, manager (Mergers and Acquisitions) and officials from the Enforcement and Exemptions Division of the CCC.

Journalists held a panel discussion where they shared experiences of business reporters regarding competition law and policy and challenges and opportunities faced in such endeavour.

“This workshop is particularly timely in light of the recent spread of competition laws and competition authorities on the African continent. There is a growing appreciation that competition has a key role to play in the development of national and regional economies, particularly in the current economic context characterised by increasing movement of goods and services beyond national borders and an emerging middle class. While trade liberalisation has contributed to spurring economic growth, it has also brought to the forefront the debate on the issues of fair competition in international trade,” said Mr Lipimile in his keynote address.

He remarked that with the increasingly transnational character of competition cases a holistic regional competition regime is essential to overcoming the enforcement gap of the traditionally territorial scope of national competition laws.

“By creating a one-stop shop competition authority, the regulations are also aimed at creating a more business friendly environment with cost savings and time efficiencies, with the avoidance of regulatory duplications, in addition to providing legal certainty to enterprises,” said Mr Lipimile while acknowledging this greatly reduces the cost of doing business in the region while at the same time attracting investment inflows.

He added the benefit of a one-stop shop can only be realised when there is uniformity in the interpretation and application of competition laws throughout the common market.

“Competition enforcement will only be successful when businesses, consumers and governments become fully aware of the benefits that competitive markets bring,” added Mr Lipimile.

In order for stakeholders to understand their role in ensuring enforcement policy, Mr Lipimile said the role of the media cannot be overemphasized.

“The media plays an insurmountable role in informing the public about the benefits of competition on the market and the role of each stakeholder in safeguarding consumer welfare,” he said, while seeking the media’s support in their advocacy work in the path towards the effective enforcement of competition laws in the common market.

 

 

 

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