The Zambia Competition Commission (ZCC) is still carrying out market survey studies on the whether Illovo Sugar, a sister company of Zambia Sugar PLC, should acquire the Nanga Farm from Zambia Beef Company (Zambeef).
ZCC Executive Director, Thula Kaira, said after the study has been concluded, the commission would ascertain on what advantages and disadvantages the company was likely to create on the competition industry in the country.
Mr. Kaira explained in an interview in Lusaka yesterday that the competition sector must thoroughly investigate developments on the market before passing decision on such matters.
He noted that through such investigation, the commission will also come up with good competition market strategies that will assist both the company and the public to know the importance of having a competitive market.
Meanwhile, Mr. Kaira has disclosed that his organization was currently having consultative meetings with other key stakeholders such as the Ministries of Agriculture and Commerce, Trade and Industry on how best the issue could be addressed.
Other stakeholders with whom the ZCC is consulting include the Economic Association of Zambia (EAZ) and the Zambia Association of Manufacturers (ZAM).
He further disclosed that a conclusive report on market survey study is expected to be released by the end of this month.
He has however encouraged Zambians to take advantage of the Citizen Economic Empowerment Fund and establish businesses that will add value to the competition industry.
He explained that by having such established business entities, no company will enjoy monopoly as it will have to compete favourably with other companies in the some industry.
Mr. Kaira was reacting to calls by the public on ZCC not allow Illovo Sugar, a sister company to Zambia sugar to buy shares from Nanga Farms, which is owned Zambeef because Zambia Sugar might monopolise the market.
ZANIS/MM/KSH/ENDS