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CFTC fines Banks, 20 companies for unfair trading practices

July 20, 2021 Fazilla Tembo-Nyasa Times 1 Comment State-funded Competition and Fair Trading Commission (CFTC), a statutory institution to regulate and monitor acts that affect competition and fair-trading, has fined imposed a K500, 000 on each of the 20 companies found guilty of contravening fair trading practices in the country. The 20 are among the 61 companies the Commission has been investigating of which 56 were confirmed to have violated the consumer rights through one malpractice or the other. Acting Executive Director, Apoche Itimu The Commission’s Acting Executive Director, Apoche Itimu, told journalists on Monday during an update for their last quarter’s investigations and determinations that the remaining companies contravened competition business practices.

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