CFCT FINES 11 COMPANIES FOR UNFAIR TRADE PRACTICES

The Competition and Fair Trading Commission (CFTC) has penalized several companies for contravening fair trading laws through unfair trading and restrictive business practices.

This is according to the commission’s determination reached at its meeting of 26 March which decided over 86 cases of unfair trading practices and 36 of restrictive business acts.

Some of the companies disciplined for unfair trading practices are Japanese used car dealer Be Forward, Peacock Seed Enterprises Limited, Dairiboard Malawi, and Farmers World.

Those involved in restrictive business practices include MPICO, Agricultural Commodities Exchange, Minibus Owners Association, SR Nicholas, and African Parks.

CFTC Executive Director, James Kaphale, has attributed the continued violation of competition laws by local businesses to a lack of awareness of the appropriate legislation.