The Consultative Competition Committee of the ECOWAS Regional Competition Authority (ERCA) convened in Praia, Republic of Cabo Verde, to deliberate on key strategic documents concerning the Cooperation Agreement on Competition and Consumer Protection rules within ECOWAS.
The 10th meeting of the ECOWAS Consultative Committee on Competition (CCC) focused on finalizing strategic documents related to the Cooperation Agreement on Competition and Consumer Protection.
The CCC also discussed enabling rules for sharing Merger and Acquisition filing fees, market studies, and performance indicators for monitoring competition.
The gathering brought together CCC members and ERCA staff, who worked on validating essential documents. Additionally, discussions covered the preparation and reporting of financial grants to Member States.
Speaking at the meeting, the Executive Director of ERCA, Simeon K. Koffi, emphasized that the 10th statutory CCC meeting marked an “important turning point in the collective action of Member States for the promotion of competition in our region.”
The meeting coincided with ECOWAS celebrating its 50th anniversary, highlighting significant progress in regional integration, including the establishment and operationalization of ERCA.
Koffi acknowledged the cooperation of Member States and key stakeholders, including government ministries, competition authorities, businesses, and civil society organizations.
He stressed that their collaboration is vital for achieving the objectives of competition authorities — ensuring market efficiency and consumer welfare.
Enhancing Regional Market Efficiency
Representing the ECOWAS Commission President, His Excellency Omar Alieu Touray, political adviser Kelly Lopes welcomed participants to the CCC meeting. She reiterated the fundamental principles of competition law and its numerous benefits for the Community Market.
Lopes highlighted that the meeting was particularly crucial given the challenges faced in key strategic sectors, such as industry, transport, telecommunications, digital markets, and anti-competitive practices. She called for enhanced cooperation and synergy to tackle these issues effectively.
Lopes urged delegates to propose measures that strengthen the competitiveness of Community markets while ensuring the fair application of ECOWAS regulations.
She underscored the importance of protecting consumer interests and fostering a more transparent and equitable regional business environment to promote sustainable economic development.
The Secretary of State for Finance of Cabo Verde, Alcindo Mota, representing the Minister of Finance, emphasized the significance of the meeting. He stated that it “symbolizes our collective commitment to strengthen regional cooperation and to promote fair and equitable competition practices throughout West Africa.”
Mota highlighted ERCA’s central role in enhancing national competition authorities and ensuring the effectiveness of national competition laws.
In his opening remarks, Mota reaffirmed that healthy competition is fundamental to sustainable economic development. He noted that competition stimulates innovation, improves efficiency, and ensures that the benefits of economic growth are equitably distributed among citizens across the region.
As ECOWAS strengthens its regional competition framework, the outcomes of this meeting are expected to play a crucial role in fostering a competitive and consumer-friendly market landscape. The deliberations in Praia will contribute to shaping policies that enhance fair trade, economic integration, and long-term growth within the region.
READ ALSO: Ghana Cedi’s True Value Is Around GH¢18 Despite Q1 Ranking- Analyst
