4th CCC Diplomatic Conference on Competition Law Places Focus on Inflation, Food Security, and Poverty Eradication

By: African Antitrust

Senior diplomats from the COMESA region gathered in Zambia, for the fourth in a series of diplomatic conferences launched in 2016, but halted due to the coronavirus pandemic in 2019.

Dr. Willard Mwemba, CEO of the COMESA Competition Commission, opened the conference session by emphasizing the critical role the agricultural sector plays in the lives of people in the region, particularly the most vulnerable populations.

He stressed that his agency would prioritize this and related sectors for intensified antitrust enforcement to ensure they operate efficiently and competitively. “Access to affordable food is a fundamental human right. The poorest citizens spend an average of $2 per day, with the majority going toward food,” Mwemba noted.

Andreas Stargard, who attended the session, remarked, “The Commission’s position is clear: agricultural markets in COMESA are not functioning as they should, according to studies conducted with external support. The significant food price inflation experienced by COMESA residents in recent years is not simply a result of unavoidable climate change but largely driven by economic gains for manufacturers and traders, as Dr. Mwemba pointed out today.”

COMESA Secretary General, Chileshe Mpundu Kapwepwe, highlighted the crucial importance of the agricultural sector to the region, its people, and its economy with compelling statistics: “Agriculture is a key sector for most Member States, contributing over 32% to COMESA’s GDP, providing livelihoods for about 80% of the region’s labor force, accounting for 65% of foreign exchange earnings, and supplying more than 50% of raw materials to the industrial sector.”

CONTINUE READING…