MBABANE - Minister for Commerce, Industry and Trade Manqoba Khumalo has charged the Eswatini Competition Commission to ensure that there are no undue and unfair practices in industries which manifest in abuse of dominance by some companies.
He said the unfair practices during mergers and acquisitions also have a negative effect of killing the competitive spirit in industries.
He was speaking at the Hilton Garden Inn, where senators were being sensitised on the work of the Eswatini Competition Commission(ESCC) and the Eswatini Standards Authority (ESWASA). The ministry said some mergers and acquisitions need to be monitored for compliance. “They then eventually control the prices and the quality of the products. If there is no one else who produces that goods, then the company assumes it can tamper with the standards,” he said.
He said during some mergers and acquisitions, workers lose jobs as a result of the resulting restructuring.
Minister Khumalo asked the Senators to pay attention to the work of the ESCC and also throw in some ideas on how they can improve their work.
Khumalo said strong institutions are essential for the country’s development agenda.
“Achieving these objectives requires more than investment alone; it requires strong institutions that ensure markets function effectively, products meet acceptable quality standards and consumers are protected,” he said.
Turning to the Eswatini Competition Commission, the minister said the institution plays a vital role in maintaining fair competition and protecting market integrity. He explained that competitive markets encourage innovation, improved product quality, expanded consumer choice and lowered prices, while weak competition often results in higher costs and limited economic opportunities. “The Eswatini Competition Commission plays a critical role in safeguarding market integrity, protecting consumers, fostering investor confidence and supporting economic growth,” he said.
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Minister for Commerce, Industry and Trade Manqoba Khumalo addressing senators during the event. (Courtesy pic)