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Published online by Cambridge University Press: 05 November 2014
Zambia has shown a strong interest in developing an effective competition policy both nationally and within the Common Market for Eastern and Southern Africa (COMESA). It has been active in seeking the expertise of foreign competition law specialists, co-operating with other countries in the region and forging close contacts with the European Union (EU) and the United Nations Conference on Trade and Development (UNCTAD) aiming at receiving technical assistance in the field of competition law.
Relevant legislation and statutory standards
Mergers and takeover activities are regulated under the Competition and Fair Trading Act 1994 (hereinafter referred to as ‘the CFTA’ or ‘the Act’). The CFTA was enacted by the Parliament of the Republic of Zambia in 1994 and came into force on 15 February 1995. The merger control provisions apply to any merger operation, which entails the establishment of control or acquisition of a substantial interest in the whole or part of a business of a competitor, supplier, customer or any other person.
In effect, the Act calls for mandatory pre-notification to the Zambia Competition Commission (ZCC) in order to obtain authorisation for any proposed merger or takeover that involves enterprises (undertakings) operating in related markets or industries. An offence is committed under the Act where a merger is effected between two or more independent enterprises, which manufacture or distribute goods that are substantially similar or provide substantially similar services (horizontal mergers).
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