CFTC WHIPS COMPANIES FOR UNFAIR BUSINESS PRACTICES

The Competition and Fair Trading Commission (CFTC) has referred 6 companies to the office of the Director of Public Prosecution (DPP) for criminal proceedings and ordered 1 other to process refunds of money for a service cancellation for unfair business conduct.

In a statement signed by the commission’s chief executive officer Lloyds Vincent Nkhoma, the commission adjudged over a total of 90 cases, which included 77 cases on unfair trading practices and 13 on anti-competitive business practices.

“Out of the 90 cases, 63 were closed at the preliminary stage for among others lack of merit and early resolution of the issues at hand,” reads the statement.

Among the offenses that the companies are allegedly accused of violating are misleading Conduct, Unconscionable Conduct, hoarding of goods, and Supply of Products Likely to Cause Injury or Harm to Consumers.

The statement says the CFTC utilized the old law to adjudge the cases, despite the newly enacted Competition and Fair Trading Act

By taking a strong stance against unfair business practices, the CFTC says it demonstrates its dedication to promoting fair competition and safeguarding consumer rights.

Yetu FM understands that the companies alleged to have violated the Competition and Fair Trading Act are AfriPlus Steel Limited Company, Chou Chou Bea, Priceworth Wholesale, Rozina Enterprise, Simama General Dealers Company Limited, and ZAMM Investments.