Govt accuses traders of hoarding goods


Government through the Ministry of Trade & Industry says some business entities in Malawi are accumulating goods with the intention of creating unnecessary shortage so that the companies should subsequently charge unfair and excessive prices.

Minister of Trade Mark Katsonga has said in a statement today that some businesses are hoarding goods such as sugar, cooking oil, bread, soap following the announcement of the 25% devaluation of the Kwacha by the Reserve Bank of Malawi,

Katsonga has warned businesses that the conduct is a violation of the Competition and Fair-Trading Act and therefore those involved in this act must stop the malpractice.

He added that the Ministry in collaboration with relevant institutions will be carrying out monitoring exercises throughout the country and will not hesitate to take necessary actions to deal with the traders found engaging in prohibited malpractice.

“The Ministry is also imploring all local manufacturers of essential and daily use commodities to provide to all their traders and also publish the recommended prices of their goods sold on the domestic market in order to guide the consumers accordingly,” said Katsonga.

He has since encouraged Consumers to be at liberty and demand from traders to check and confirm prices against the recommended price list of any commodities that they suspect to be unfair or excessively priced.


One Comment

  1. Kupenga kwenikweni. How can anybody hoard bread, perishable commodity?

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