The Federal Competition and Consumer Protection Commission (FCCPC) and other African competition authorities have committed to the enforcement of competition laws to ensure adequate consumers’ protection.
A statement jointly signed by the heads of the authorities and released by the FCCPC in Abuja on Saturday, said that the commitment was made during the digital markets dialogue held in Johannesburg, South Africa.
The dialogue was for Heads of Africa’s Competition Authorities from Egyptian Competition Authority (ECA); the Competition Authority of Kenya (CAK); the Competition Commission of Mauritius (Competition Commission).
Others participants are the Competition Commission of South Africa (CCSA) and Competition Commission of Mauritius (Competition Commission).
The commissions also reaffirmed the commitment to strengthening the rules for open and fair markets in Africa.
They acknowledged that digital markets/services were rapidly transforming the global economy through disrupting traditional markets, opening new economic opportunities, and providing substantial benefits to consumers and businesses.
”These markets present considerable challenges for competition law enforcement and policy in terms of the unique competition issues that arise.
”Policy makers and competition authorities in the leading economies of the world are reviewing their approach to regulation and enforcement in digital markets to adequately address these competition issues.
”Accordingly, as regulators on the continent, we are required to consider how digital markets impact on domestic participation in the local and global economy and the terms of that participation,” FCCPC said.
The commission said that the authorities agreed to collaborate by scoping the conduct in digital market on African consumers, businesses and economies with the purpose of fair regulation and enforcement in Africa.