Kudzai Madenga
Zimbabwe is intensifying efforts to combat monopolies and anti-competitive practices in a bid to create a more equitable business environment, stimulate innovation, and boost economic growth.
During the World Competition Day event in Bulawayo, Deputy Minister of Industry and Commerce, Honourable Raji Modi, highlighted the government’s commitment to dismantling monopolies and fostering a competitive market. “We recognize the importance of competition policy in promoting entrepreneurship, innovation, and job creation,” he stated.
Honourable Modi also pointed to the ongoing efforts to finalize the Competition Amendment Bill, which aims to empower the Competition and Tariff Commission (CTC) to investigate and prosecute anti-competitive practices more effectively, including tackling monopolies and cartels.
The CTC, led by Director Ms. E. Ruparanganda, is reviewing existing laws to strengthen merger regulations and crack down on harmful business practices. “Competition is not merely a business concept, but a fundamental driver of economic and social equity,” Ms. Ruparanganda explained.
Significant progress has already been made in sectors like telecommunications and healthcare, where a specialized unit has been established to detect and prosecute cartels. This proactive approach ensures that businesses, regardless of their size or resources, can compete fairly and thrive.
Both Modi and Ruparanganda stressed the importance of public engagement in supporting these reforms. “We encourage consumers to speak out against unfair practices, and businesses to comply with competition laws,” Ms. Ruparanganda urged.
This year’s World Competition Day, themed “Competition Policy and Inequality,” underscored the potential of competition policy to reduce economic disparities. By fostering a fairer market, the government aims to unlock entrepreneurship, create jobs, and enhance consumer welfare.
As Zimbabwe moves forward with its renewed focus on fair competition, the nation expects to see new growth opportunities, increased innovation, and reduced inequality across all sectors.
