The Competition and Fair Trading Commission (CFTC) has on 16 January, 2025, announced that it has cracked down on companies engaging in unfair trading practices and anti-competitive behavior ordering them to pay a total of K6.5 million in refunds to affected consumers in Lilongwe.
This decision comes after the CFTC adjudicated 49 cases, closing 26 at the preliminary stage due to lack of merit or early resolution.
Three companies have been ordered to pay fines equivalent to a percentage of their total annual revenue, as stipulated in the Competition and Fair Trading Act (CFTA).
One notable case involves Paramount Holding Limited, which has been ordered to refund a complainant MK6,160,000 for defective fertilizer purchased.
The CFTC has also recommended 12 mergers for authorization by the COMESA Competition Commission.
Meanwhile, Brenda Bota Director of Consumer Affairs for CFTC said that companies found guilty of unfair trading practices have 30 days to comply with the fines, failure to do so will result in court action to enforce the order.
