Business
Africa on course to create regional competition law
Africa is on track to have working regional competition bodies by next year and businesses need to prepare themselves to navigate a plethora of rules or suffer damages.
Countries in Africa had realized that in order to develop projects quicker and to encourage foreign direct investments, they needed to have legal competition systems that were more efficient and worked better together.
The Common Market for East and Southern Africa (COMESA), is a regional organization which works to develop economic integration through trade and investment in East and Southern Africa.
This regional organization has 19 member countries: Comoros, Burundi, the Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia and Zimbabwe.
But COMESA’s regional approach to merger control is not being pursued at the expense of domestic merger control regimes which meant two tiers of merger control would soon persist in Africa.
