The Competition and Fair Trading Commission (CFTC) has ordered four companies to pay fines totaling K2.5 million and ordered other five companies to refund over K2 million to consumers for committing different offences.

CFTC acting executive director Apoche Itimu has told a business clinic for journalists in Lilongwe that the Commission considered and adjudicated over 73 cases during its 63rd meeting held last month.

She said: “CFTC held its 63rd meeting in Lilongwe on October 10, 2022, to consider and adjudicate over cases under the Competition and Fair-Trading Act (CFTA).

“The Commission considered and adjudicated over a total of 73 cases. The cases included 63 on unfair trading practices, one merger, and nine cases on restrictive business practices.”

Itimu said companies that have been ordered a K500, 000 fine for unfair trading practices include: Southern Region Water Board (SRWB), Old Mutual Life Assurance Company (Malawi) Limited, Wella Medical Aid Society (WEMAS) and Capital Foods Limited.

In addition, Itimu said the Commission has also ordered PEP Stores, SMB Electronics and Yellowman Machines to refund K600, K75,000 and K300,000 respectively to different complainants over misleading and unconscionable conduct.

Commenting on the seminar, Itimu said journalists need to be well informed about fair and unfair trading practices because they play a critical role in informing the public.

“We recognize that the media is a very important stakeholder, we cannot reach the whole country by ourselves in terms of advocacy and sensitisation, we have to depend on the media.

“And to do that we have to ensure that the media is also conversant with relevant provisions under the Competition and Fair-Trading Act as well as the Consumer Protection Act,” she said.

And commenting on the seminar, one of participants – Mayeso Chikhadzula of the Malawi Broadcasting Corporation (MBC) said the training has assisted him filling knowledge gap on issues to do with fair trading practices.

He said: “This training is very crucial because there has been a communication gap in as far as competition and fair trading is concerned.

“Most people in Malawi don’t know their rights on fair trading so this workshop will give us an up hand whereby we will be able to tell the truth on the issue of fair trading to the public.”