Business

CCPC rakes in over $270m in mergers

PART of Lusaka City centre.

KELLY NJOMBO, Lusaka
THE Competition and Consumer Protection Commission (CCPC) has generated over US$270 million in merger transactions in the first half of 2016.
This translates into over 200 direct and indirect jobs expected to be created.
CCPC executive director Chilufya Sampa said the commission has continued to record significant increase in the number of merger notifications, with a total of 22, which were received during the period under review.
During a media briefing yesterday, Mr Sampa said the banking and financial service, and agricultural sectors recorded six transactions each while the manufacturing sector recorded four.
Other sectors that recorded merger transactions include energy with two, mining, transport and communications, wholesale and retail and the services sectors with each one respectively.
“The commission has continued to record significant increase in the number of mergers notifications. A total of 22 merger notifications were received. Out of the 22 notifications received, 18 were closed while four are yet to be considered by the board of commissioners.”
“The approximate value in merger transactions handled in the first half of 2016 was US$270,772,961.48 with about 240 direct and indirect jobs expected to be created. The commission will in the other half of 2016 continue contributing to Zambia’s foreign direct investment by the continued facilitation of merger transactions,” he said.
With regards to abuse of dominance, Mr Sampa said the commission reviewed seven cases in the same period and closed a case where ZEGA Limited alleged that Zambia Airport Corporation Limited (ZACL) abused its dominance.
He, however, said the commission determined that ZACL was abusing its dominance in the market for the provision of ground handling services.

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