CAK, African regulators team up to check digital markets
Officials from five African competition authorities during the Africa Heads of Competition Dialogue held in Johannesburg, South Africa on February 17-18, 2022. PHOTO | COURTESY
Regulators say digital markets have disrupted traditional markets presenting enormous challenges for competition law enforcement.
The Competition Authority of Kenya (CAK) has teamed up with four other African regulators to tackle competition and consumer protection concerns in digital markets.
The commitment by competition regulators from Kenya, Mauritius, Nigeria, Egypt and South Africa was ratified during a two-day Africa Heads of Competition Dialogue (AHCD) meeting in Johannesburg, South Africa, on February 17 and 18, 2022.
In a statement released Friday, they said that digital markets are transforming global economies rapidly by disrupting traditional markets, presenting enormous challenges for competition law enforcement.
“Accordingly, as regulators on the continent, we are required to consider how digital markets impact on domestic participation in the local and global economy and the terms of that participation, beyond simply as a consumer of global tech firm services,” the statement reads.
“Recognising the greater shared regulatory challenges that digital markets pose for Africa necessitates that African jurisdictions work more closely in order to share knowledge, develop capacity and mutual strategies and provide a stronger and collaborative approach with respect to the regulation of digital markets.”
The regulators agreed to research barriers to emerging and expanding African digital platforms and sharing information on existing laws and protocols, among others.
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