CFTC to host panel discussion in commemoration of World Competition Day to share insights on the fundamentals, dynamics and implications of AI for developing economies 

* And the strategies that should be put in place to safeguard competition and consumer protection in Malawi 

* To be aired on MBC tomorrow December 5th involving experts from the Ministry of Industrialisation, Business, Trade and Tourism, MACRA), ICTAM), the COMESA Competition Commission and the CFTC

By Duncan Mlanjira

The Competition & Fair Trading Commission (CFTC) will tomorrow, December 5, join the global community in commemorating the World Competition Day (WCD) under the theme; ‘Artificial Intelligence (AI), Consumers and Competition Policy’.

In a statement, CFTC Chief Executive Officer, Lloyds Vincent Nkhoma indicates that the theme “is not only relevant but also forward-looking as it positions Malawi among countries that are preparing their markets and institutions for the digital and AI-driven technologies”. 

“As Malawi advances its digital transformation agenda, AI-driven technologies are increasingly shaping market dynamics, service delivery, and consumer choices.

“However, these technologies present new regulatory challenges such as data dominance, market concentration arising from data advantages and high cost of entry; algorithmic collusion and bias; abuse of power by dominant firms; and other potential anti-competitive practices that could harm the Malawian market.

“It is against this background that CFTC intends to lead the nation in commemorating this day by engaging stakeholders and the public through a panel discussion that will share insights on the fundamentals, dynamics and implications of AI for developing economies and the strategies that should be put in place to safeguard competition and consumer protection in Malawi.”

Nkhoma announces that the panel discussion will be aired on MBC tomorrow, whose panelists will include experts from the Ministry of Industrialisation, Business, Trade & Tourism; Malawi Communications Regulatory Authority (MACRA); the ICT Association of Malawi (ICTAM); the COMESA Competition Commission; and the CFTC.

Nkhoma reiterates that the World Competition Day marks the anniversary of the adoption of the Set of Multilaterally Agreed Equitable Principles and Rules for the Control of Restrictive Business Practices by the United Nations on December 5, 1980. 

“Following a campaign launched by CUTS International in 2010, this date is celebrated annually to promote a robust competition culture globally.”