CFTC boss commits to cracking cartels
Newly appointed Competition and Fair Trading Commission (CFTC) Executive Director Lloyds Vincent Nkhoma has said his focus will be on breaking cartels in the country.
On Monday, the commission announced the appointment of Nkhoma to the position effective February 6.
In an interview on Tuesday, Nkhoma said, from both professional and personal experiences, he has noticed that there are cartels and monopolies that need to be cracked for the benefit of the economy.
He said CFTC will use the law and relevant policies in dealing with the vices.
“It is not an easy thing but it is worth trying and I am not new in this territory. Therefore, I will make sure that Malawians see the benefits of having this entity by protecting them through the disbandment of cartels and monopolies,” he said.
He said the commission is committed to ensuring that all consumer rights are protected.
CFTC started in 1998 with an Act of Parliament as a department in the Ministry of Trade and Industry and stood alone in 2007 to bring sanity to the market, in terms of competition and fair trading.
According to published information, Nkhoma was part of the initial staff that operationalised CFTC in 2007 on secondment from the Ministry of Trade and Industry.
He holds a Master’s Degree and a Post Graduate Diploma in Economics for Competition Law from Kings College in London and a Bachelor’s Degree in Social Sciences majoring in Economics from the University of Malawi.
Nkhoma also serves in the Comesa Competition Commission Board as Head of Enforcement and Exemptions.
Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk.
He is however flexible as he also writes about current affairs and national issues.
