CFTC, ACB agree to fight corruption together
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- Created on Wednesday, 25 July 2018 11:59
Malonda(R), Matemba exchangrsigned copies of MOUs
The Competition and Fair Trading Commission (CFTC), and the Anti-Corruption Bureau (ACB) have signed a Memorandum of Understanding (MOU) that will see the two enforcement agencies fight corruption and achieve their mandates more effectively.
Speaking during an MOU signing ceremony that took place on 17th July 2018 in Lilongwe, the CFTC Executive Director Charlotte Wezi Malonda said there exists a potential overlap between the functions of the Commission and the Bureau in anti-competitive business practice cases.
“This MOU is entered into in order to establish the manner in which the parties will interact with each other in respect of any matters relating to anti-competitive business practices specifically in cases involving contracts and corrupt practices generally,” said Malonda.
On his part, ACB Director General, Reyneck Matemba pointed out that was not the the first time the ACB has worked together with the Commission.
“We have been working together as enforcement agencies whose mandates complement each other. However with this MOU there will be room to share information and working hand in hand when conducting investigations that are of interest to both parties,” said Matemba.
According to the MOU the two enforcement agencies have undertaken to cooperate in several ways, including collusive tendering and bid-rigging in contracts’ negotiation and any other relevant area of possible collaboration between them.
According to the mandates of the ACB, the Bureau has a mandate to investigate cases for other offences that come to light during the course of investigating corruption. The Commission on the other hand has powers to conduct investigations into business practices or conduct to determine whether any enterprise is engaging in anti-competitive and unfair trade practices.