THE MALAWI GOVERNMENT GAZETTE
(Published by Authority) _
3,594: Vol. LVI No. 13] Zomba, 19th March, 2021

Registered at the G.P.O. as a Newspaper Price: K500.00

CONTENTS PAGE In aceordanee with section 39 (3) of the Act, the Commission caused
the following decisions that the Board made on 18th December, 2020 to be
Ministry uf Trade—Appointment of Commissioners for CFTC 99
published in the Government Guzette.
CFTC. Board Decisions on applications for authorisation 99_100
Administrator General Notice cf Deceased Estates 100-102 (1) Acquisition of Pride Malawi Limited by New Finance Bank
Malawi Limited
GENERAL Novick No. 41
The Board authorized the acquisition of the microfinance business
MINISTRY OF TRADE operations of Pride Malawi Limited with condition.

Public Notice On [8th February, 2019, the Commission received an application
from New Finance Bank Malawi Limited (“NFB”) for authorization ofa
Appointment of Commissioners for the Competition and Fair
proposed acquisition of Pride Malawi Limited (“Pride Malawi”), a
Traiding Commission
microfinance company.
Pursuant to seetion 5 of the Competition and Fair Trading Act. it
The Board considered the Technical Committee Chairperson’s Report
pleased the President of the Republic of Malawi, His EXCELLENCY
on the acquisition and established that the transaction—-
LAZARUS McCaARTHY CHAKWrERA, to appoint the following eminent
Malawians as Commissioners for the Competition and Fair Trading ()) is not likely to substantially lessen competition in’ the
Commission— relevant market:
|. Dr. JERRY JANA
(i/) would save an ailing firm and save jobs that would have
2. Rev. Dr. Zacc KAWALALA otherwise been lost in the absence of the proposed acquisition;
3. Dr. MaGGie SIKWESE
(iit) would allow Pride Malawi customers to access innovative
4, Professor Davin KAMCHACHA new services provided by NFB. including digital financial services:
. Mr. Suscir MIPANDO and
a

6. Mr. Rancrorp CHOKHOTHU (iv) would result in reduction in financial inclusion.

Mr. EDWARD ZILEMBA The Board. therefore, authorized the transaction with a condition that
~

8. Justice Isaac Mtambo (Retired) MyBucks, NFB’s parent company would continue operating the pro-puur
microcredit services targeting low-income individuals, including rural
Y. Seeretary to the Treasury—E£x-Officio.
communities and smal! medium enterprises under the microfinance terms
10. Secretary for Trade—Ex-Officio.
and conditions of accessing credit. This would consequently avert the
1]. Director General of the Malawi Bureau of Standards—£x- anticipated reduction in financial inclusion.
Officia.
(2) Acquisition of Business Assets owned by Oil and Protein
The appointment of Justice Isaac MTAMBO was with effect from
16th February, 202! and that of the rest of the Commissioners was with
Company Limited by Capital Oil
effect from 23rd September. 2020. Refining Industries Limited

The Ministry of Trade would like to congratulate the new The Board authorized the acquisition of assets of Oil and Protein
Commissioners on their appointment and wish them all the best as they Company Limited (‘OPL”) by Capital Ou Refining Industries Limited
commence their Three Year tour of duty. (*CORT).
*
CHRISTINA ZAKEYO On 3rd June, 2020, the Commission received an application for
Secretary for Trade authorization of acquisition of business assets owned by OPL by CORT.

The Buard considered the Technical Committee Chairpersun’s Report
GENERAL Novick Nou. 42 on the acquisition Upon assessment. the Board established that the
transaction—
COMPETITION AND FAIR TRADING COMMISSION

Public Notice
(i) would create a co-dominant player with Sunseed Oil Limited:

Board Decisions on Applications for Authorization for (if) would marginally change the market shares and
lakeovers, Mergers and Acquisitions concentration ratios in the edible vegetable cooking oil industry. and

At the 56th Board Meeting of the Board of Commissioners (“the (if) saved a failing firm. OPL. and would prevent negative
Board”) for the Competition and Fair Trading Commission (“the financial, economic and social developments that could potentially
Commission”) that was held on 18th December, 2020 at Sunbird Nkopola
arise if the assets were not maintained for use.
Lodge in Mangochi, the Board made decisions concerning applications for
mergers, takeovers and acquisitions pursuant to section 39 (1) of the The Board, theretore authorized the acquisition of assets uf OPL by