The Competition and Fair Trading Commission (CFTC) has fined 11 companies, charging them with unfair trading practices.
CFTC Executive Director James Kaphale outlined that the exercise is the commission’s enforcement mechanism against firms that defy regulations.
Some of the companies were fined K500,00 while one has been ordered to pay K10 million. Some of the fined firms are Health and Beauty Care Pvt. Limited, Farmers World Limited and Dairibord Malawi Limited, Eazy Borehole Drillers, Peacock Seed Enterprises Limited, InterCape Bus Service and Be Forward Company and Naheed Supermarket.
CFTC was constituted by an act of Parliament in late 90s to regulate, monitor, control, prevent acts or behaviors which are likely to adversely affect competition and fair trading.