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Tuesday, March 5, 2024

Illovo Sugar risks prosecution

The Competition and Fair Trading Commission (CFTC) has condemned Illovo Sugar Malawi for engaging in unfair trading practices.

This follows complaints lodged in October 2022 to the commission by buyers after the publication of a press statement by Illovo Sugar informing the general public of a sugar price increase.

According to the Executive Director for CFTC, Lloyds Vincent Nkhoma, the reason for the sugar price hike was unjustified, irrational and adversely affected consumers which is in contravention of section 43(1) (g) of the CFTA.

Nkhoma further said that the CFTC, among others, resolved that Illovo Sugar should be prosecuted for violating Section 43(1) (g) of the CFTA.

He also indicated that they want Ministry of Trade to meet authorities from Illovo for them to reverse sugar prices which continue to disadvantage people in the country.

This comes as people in the country have been complaining for the increased prices of sugar.

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