epub Competition Policy and Law Development in Zimbabwe

The impetus for the development of competition policy and law (CPL) in Zimbabwe, like in most other developing countries, stemmed from economic reforms and international pressure, with the primary aim of preventing anti-competitive and monopolistic practices. This book analytically traces the development of CPL in Zimbabwe from the early formulation and drafting of the competition policy and competition law, to the effective implementation of the policy and the enforcement of the law.

The book is in seven substantive Chapters. Chapter 1 outlines and analyses the basic competition concepts that underlie CPL in Zimbabwe. Chapter 2 explains the processes used in the formulation of the competition policy and the drafting of the competition law, as well as the operationalisation of the administering competition authority. Chapter 3 scrutinises Zimbabwe's competition legislation, and identifies the major shortcomings in the legislation. It also examines other local laws and regulations that impinge on competition in Zimbabwe. Chapter 4 discusses the enforcement of competition law in Zimbabwe, including the major competition cases handled, and the creation of competition case law. Chapter 5 outlines the competition advocacy activities that support the enforcement efforts. Chapter 6 explains the developments that led to the adoption of a comprehensive competition policy and the review of the competition law.

The formulation and drafting of Zimbabwe's competition policy and law was found to have been a protracted consultative process that involved all the major stakeholders in both the public and private sectors of the Zimbabwean economy. The intense consultations resulted in the adoption of a highly compromised piece of competition legislation that inadvertently hindered the effective enforcement of the competition law from attempts to balance conflicting expectations.

In spite of the disruptive compromised provisions of the Competition Act, and other operational constraints of a resource nature, that had to be corrected by the Competition Amendment Act, 2001, the competition authority of Zimbabwe achieved a lot in the promotion and protection of competition on the domestic market such that it became an inspirational, and one of the leading, national competition authorities in the region.

The development of competition policy and law in Zimbabwe was greatly enabled through capacity building and technical assistance programmes of many international organisations, notably UNCTAD. The two major regional economic communities in Southern Africa with competition mandates, COMESA and SADC, also gave valuable support and guidance.

Continued development of competition policy and law in Zimbabwe is faced, as in most other developing countries, with formidable challenges related to globalization and digitalization of world markets, with the rise of international cartelization, surge in transnational mergers and acquisitions, and creation of digital multi-sided and zero-price markets. Competition comity cooperative arrangements at both regional and continental levels are therefore critical and will be indispensable.