CFTC cracks whip on 3 companies
The Competition and Fair Trading Commission (CFTC) has fined three companies K500,000 each for unfair trading practices.
According to a statement from CFTC, as signed by acting executive director Apoche Itimu, one of the companies was found guilty of excluding liability on defective goods and unconscionable conduct.
It is ordered to pay K1.9 million being the balance for repairing a faulty transformer, which a complainant bought.
Another firm was found guilty of supplying products likely to cause injury or physical harm to consumers and insufficient labelling of products and non-disclosure of material information.
“The commission considered and adjudicated over a total of 57 cases, which included 51 cases of unfair trading practices and six cases of anti-competitive business practices,” the statement reads.
CFTC started in 1998 through an Act of Parliament to bring sanity to the market in terms of competition and fair trading.
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.