Tag Archives: Apoche Itimu

Business, Malawi

CFTC punishes Chipiku, Old Mutual, Vanguard for unfair trading practices

Maravi Post Reporter

By Mayamiko Phiri

BLANTYRE-(MaraviPost)-The Competition and Fair Trading Commission (CFTC) has punished eight companies with fines totaling MK6.5 million for unfair trading practices.

CFTC acting executive director Apoche Itimu disclosed this during a press briefing held in Blantyre on Wednesday, April 27, 2022.

The culprits that have been punished including Chipiku Plus, People’s Trading Centre (PTC), Old Mutual Pension Services Limited, Suncrest Creameries Limited, King Steel Limited, Central Poultry Limited and Vanguard Life Assurance.

Apoche Itimu in the middle

The unfair trading practices including supply of products likely to cause injury or harm to consumers, misleading conduct and insufficient labeling and misuse of market power.

She further stated that her commission received 15 complaints against some schools and that 13 schools were cleared for any wrong doing.

However, two schools namely Athens Private and Hope Christian were found liable of unconscionable conduct.

Contrary to section 43(1)(g) of the CFTC and commission issued orders for the said schools to cease and desist from engaging in such conducts.

Itimu disclosed also that the commission received complaints against some manufacturer of cooking oil for unreasonable price hike of their products.

She added that investigations are under way that the commission will come out with determination on the matter in the near future.

Business

Malawi’s trade associations dared on price gouging, fixing

Maravi Post Reporter

By Chisomo Phiri

BLANTYRE-(MaraviPost)-The Competition and Fair Trading Commission (CFTC) has urged trade associations in country to cease and desist from engaging in price gouging and price-fixing.

This follows the reports that some trade associations have started announcing fixed price adjustments for goods and services in their respective industries due to the increase of pump prices of liquid fuels.

In a statement signed by its Acting Executive Director Apoche Itimu, the Commission advises all trade associations, group of enterprises,stakeholders and the general public that fixing uniform prices for goods and services in any market is prohibited under Sections 33(3)(a) and 34(1)(b) of the Competition and Fair Trading Act (CFTA).

The commission adds that price gouging in form of unjustifiable and unreasonable increases also to a violation of Section 43(1)(g) of the Competition and Fair Trading Act (CFTA).

“The Commission is calling all trade associations and other stakeholders to cease and desist from engaging in these prohibited practices. If any trade Association or any stakeholder will be found engaging in this malpractice, the commission will not hesitate to execute determinant measures as prescribed under section 51 of the CFTA.

“If you want to report any Association or person found engaging or suspected to be engaging in price-fixing cartel in any market or price gouging, please contact the Commission by calling our Toll-free number 2489, lodge your complaint on our website, report on our Facebook page or email competitioncommission@cftc.mw”, reads the statement.

CFTC was established under the Competition and Fair Trading Act (CFTA) in 1998 with with a mandate to regulate, monitor, control and prevent acts behaviors which would adversely affect Competition and Fair Trading in Malawi.

Business, Law and order, Malawi

Airtel Malawi dismisses CFTC’s MK2.1bn fine on “Khethekhethe” bonus; Dates court

Maravi Post Reporter
Charles Kamoto not happy with CFTC fine

LILONGWE-(MaraviPost)-The country’s smartphone network provider Airtel Malawi has dismisses charges Competition and Fair Trade Commission (CFTC) leveled against that it duped customers on “Khethekhethe” bonus.

Airtel observes that MK2.1 billion fine is non-starter arguing that charges leveled against it before the CFTC does not agree with the consequential decision.

In a press statement made available to The Maravi Post, Airtel Malawi’s Managing Director Charles Kamoto says the company will pursue the matter further in the court for intervention.

“Airtel Malawi Plc notes the decision by the Competition and Fair Trading Commission (CFTC) relating to its KhetheKhethe customer loyalty bonus programme.

“The Company denied the charges leveled against it before the CFTC and does not agree with the consequential decision,” says Kamoto.

He added, “The Company is pursuing the matter further in court.Airtel complies and continues to fully comply with the relevant and applicable laws and has not committed any unfair trading practice or provided any misleading, false or deceptive information or made false representation to the public.

“We wish to reiterate our commitment to conducting business within the applicable legal and regulatory framework and continue to deliver reliable and value-adding services”.

The country’s Competition and Fair Trade Commission (CFTC) on Wednesday fined mobile phone operator, Airtel Malawi with a sum of K2.1 billion for being found guilty of engaging in “unconscionable conduct” with respect to the rewarding of its “Khethekhethe” bonus.

CFTC acting executive director Apoche Itimu told the new conference in the capital Lilongwe on Wednesday, September 29, 2021 that the Commission launched an investigation on September 16, 2021 against the Malawi Stock Exchange (MSE) listed Airtel Malawi following several complaints from consumers.

Business, Law and order, Malawi

Malawi Competition & Fair Trade agency fines Airtel with MK2.1bn for duping customers on “Khethekhethe” bonus

Maravi Post Reporter
Airtel Malawi Managing Director Charles Kamoto

LILONGWE-(MaraviPost)-The country’s Competition and Fair Trade Commission (CFTC) has fined mobile phone operator, Airtel Malawi with a sum of K2.1 billion for being found guilty of engaging in “unconscionable conduct” with respect to the rewarding of its “Khethekhethe” bonus.

CFTC acting executive director Apoche Itimu told the new conference in the capital Lilongwe on Wednesday, September 29, 2021 that the Commission launched an investigation on September 16, 2021 against the Malawi Stock Exchange (MSE) listed Airtel Malawi following several complaints from consumers.

“It was alleged that the respondent (Airtel Malawi) stopped automatically crediting customer accounts with monthly bonuses, instead, it was alleged that customers were required to apply for the redemption of their bonuses on the 14th of every month.

Consequently, who for one reason or another did not redeem their bonuses, had them forfeited,” said Itimu.

According to her, it was further alleged that the unredeemed bonuses were later appropriated and sold to other customers on the 15th.

By failing to promptly pay Khethekhethe bonus to all deserving customers who reached a minimum threshold of MK1,000 per month, and consequently forfeiting the same to the company’s advantage, Itimu said Airtel Malawi made a financial gain of about MK2.1 billion, thereby acting unreasonably and without conscious.

“The Commission therefore ordered Airtel to pay a fine of MK2,113,099,660 for engaging in unconscionable conduct in the trade of goods and services.This represented financial gain generated from the offence,” she charges.

Airtel Malawi official refused to comment on the matter as we went to press.