Consumer Protection Commission facilitates over K9 billion from total mergers in 2023

The Competition and Consumer Protection Commission (CCPC) has announced that over K9 billion was facilitated and realised from total mergers that were completed and authorised in 2023.

The commission reviewed and closed 49 out of the 63 merger cases in 2023, according to the CCPC Executive Director, Brian Lingela, at the annual performance of the commission in the year 2023 in Lusaka on Friday.

“The reviewed and closed cases were from such key sectors as mining, banking and finance, retail and wholesale, manufacturing, transport and logistics, agriculture, real estate, services, tourism and hospitality, health, information and communication technology, energy, construction, and insurance.

“From the total number of mergers completed as a result of the commission’s authorisation, a total investment amount of K9,639,653,419.71 was facilitated and realised from these transactions,” he said.

Lingela pointed out that the commission assessed 85 merger cases in the year 2022 as compared to the 63 cases handled last year.

He attributed the decline in the number of merger cases handled to the upward adjustment of the merger notification threshold from K15 million to K30 million, pursuant to Statutory Instrument (SI) number 106 of 2022 issued by Commerce, Trade and Industry Minister, Chipoka Mulenga.

Lingela explained that the adjustment in notification fees was in line with the Government’s policy direction of unlocking the economy by attracting and encouraging investment through reducing the cost of doing business in Zambia.

This, he said, was done through the issuance of the competition and consumer protection (general) (amendment) regulations, SI number 106 of 2022, which came into effect on 1st January 2023.

“The SI number 106 of 2022 is aimed at promoting the ease of doing business, especially for the Micro, Small and Medium Enterprises (MSMES).

“Of the 63 mergers, 51 of these merger notifications were received in 2023, 12 were brought forward from the year 2022,” Lingela said.

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