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Africa: Multinational competition network Comesa addresses critics

By  |  February 25, 2014

The Common Market for Eastern and Southern Africa is addressing criticism fired at the competition regime since its founding just over one year ago, say reports.

Comesa has been criticized for its lack of thresholds to determine which mergers and agreements require mandatory filing with authorities. Further, reports say Comesa has been questioned over high filing fees and long review periods.

Now, however, the Comesa Competition Commission will address those criticisms.

CCC head of M&A Willard Mwemba said that the regulator “now set the wheels in motion for the threshold to be raised” and that it “working with the International Finance Corporation of the World Bank Group to draft those thresholds.”

Further, he said, the CCC is looking at methods to expedite the review process.

Comesa first formed in January of last year and regulates 19 member states, which all already have their own merger regulators in place as well.

Full Content: IFLR

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