By Josephine Chipofya
Malawi will Thursday join the international community in commemorating World Competition Day with a focus on addressing market inequalities that hinder the growth of Micro, Small and Medium Enterprises (MSMEs).
This year the day will be commemorated under the theme ‘Competition by Policy and Inequality.’
A statement signed by Competition and Fair Trading Commission (CFTC) Chief Executive Officer, Lloyds Vincent Nkhoma, says this year’s global theme connects well with Malawi’s economic challenges, highlighting the role of fair competition in reducing inequalities in underdeveloped markets.
“This theme is relevant as it specifically focuses on lowly developed markets including Malawi where MSMEs face barriers to entry due to some inequalities and anti-competitive trade practices,” reads the statement in part.
The inequalities include anti-competitive agreements and abuse of dominant positions, among others, which culminates into serious consequences for MSMEs development making them face hurdles to compete and access the markets on merit.
In malawi, the inequalities have intensified in the wake of slow recovery from effects of Covid-19 and Cyclone Freddy.
“In order to navigate through such a market environment, some big companies have resolved to engaging in anti-competitive business conducts such as excessive pricing or supplying substandard products hence negatively affecting consumer welfare,” reads the statement.
To commemorate the day, CFTC has organized a high-profile panel discussion featuring key stakeholders, including representatives from the Ministry of Trade and Industry, COMESA Competition Commission, and the Malawi Confederation of Chambers of Commerce and Industry.
The discussion aims at raising awareness and advocating for policies that level the playing field for all market players.
