The Competition and Fair Trading Commission (CFTC) has partnered National Initiative for Civic Education (Nice) Trust to foster competition and consumer protection regulation information dissemination.
CFTC is mandated to regulate markets, monitor, control and prevent acts or behaviour which is deemed likely to adversely affect competition and fair trading in Malawi.
Nice Trust on the other side is mandated to enhance civic education programmes and promote good governance.
Speaking after signing ceremony of a Memorandum of Understanding (MoU), CFTC Executive Director James Kaphale said the agreement would promote competition and fair trading in Malawi.
“I should emphasise that this agreement is entered on the basis of mutual respect, in a spirit of goodwill and does not affect the independence of the two institutions,” Kaphale said.
Nice Trust Executive Director Ollen Mwalubunju said the agreement strengthens the institutions as they will be able to share information and resources.
“We believe this relationship will enable us share information to consumers through Nice Trust resource centres which are spread across the country. This will help us to reach out to consumers and ensure that more people are aware of their rights,” Mwalubunju sad.
This agreement comes on top of agreements the commission has with other other organisations including the Malawi Energy Regulatory Authority, Malawi Communication Regulatory Authority, Reserve Bank of Malawi, National Lotteries Board and the Comesa Competition Commission.
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