TANZANIA, Dar es Salaam : THE Fair Competition Commission (FCC) has successfully approved the sale of 95 public and private companies worth 1.5tri/- in the past three years with the aim of increasing efficiency in production of goods and services.
This was revealed by FCC Director General, William Erio on Wednesday when briefing journalists on the institution’s implementation of various plans and success for the 2022/2023 financial year and the 2023/2024 plans.
The DG said that the approval of the sale of the companies was meant to increase the market scope to ensure a fair and competitive market environment.
He said that between July 2020 and June 2023, FCC approved the sale of 26 companies at a value of 653bn/- in the telecommunications sector, 24 companies worth 368bn/- in the mining sector, 20 companies valued at 310.2bn/- in industrial processing sector, 11 companies worth 163bn/- in small scale banking sector and 14 companies in agriculture sector worth 49.4bn/-.
He said the sale had a range of benefits, including improved efficiency in the delivery of telecommunications services in the country, attracting investors and the production of new graphite and lithium (mining sector), provision of employment opportunities and the growth of market and revenue in the agricultural sector.
“We have also increased the competitiveness in the banking markets (small banking sector) as well as increased the capacity of the country to produce goods, hence creating a dominant East African market,” he said.
He noted that over the past three years, the commission also contributed 4bn/- to the government coffers as well as establishing three new regional offices in Arusha, Mwanza and Mbeya regions to move services closer to stakeholders and citizens.
Mr Erio said in 2023/2024 financial year, the FCC is set to introduce an electronic system for the operation of commission activities (FCC-MIS) with the aim of increasing efficiency in the provision of services.
“Services to be provided through this system include the Merger Clearance Process, Exemption of Agreement, Standard form Consumer Contract Registration and the provision of the Products Mark Law Enforcement forms,” he said.
He further said that the commission will also work with the Ministry of Industry and Trade and the government to ensure that the Fair Competition Act (FCA) and the Commodity Marks (MMA) amendment process is completed, to continue efforts to protect consumers of goods and services as well as to develop the regulation of counterfeit goods.
The DG added that in 2023/2024, FCC will also continue to strengthen regional offices and establish two new offices in Tanga and Mtwara regions to move its services closer to the public and continue to educate people on competition, consumer protection and counterfeit product control.
He said the commission would also continue to receive and investigate mergers, investigate and complete proceedings on the dynamics of conspiracy and abuse of market power.