Luanda – The Competition Regulatory Authority (ARC) has said it is focused on achieving a fairer, more transparent and favorable competitive environment for greater private investment in the country, the institution's administrator, Nelson Lembe said Thursday.
According to Mr Lembe, who opened the seminar on "Company Mergers", the ARC was created as part of the 2018-2022 Development Plan to improve the business environment.
"The ARC has the duty to ensure compliance with and respect for the rules and principles of competition in Angola, acting in almost all sectors, from the public, private, cooperative and associative," he said.
He added that the institution ensures and guarantees three fundamental aspects, set out in the Law, namely market efficiency and balance, the allocation of resources and ensuring the protection and well-being of consumers.
Nelson Lembe said that if company mergers and acquisitions violate the law, the ARC can impose fines ranging from one to 10 percent of turnover.
"It is the role of the state to simplify and mitigate all the obstacles that in fact prevent easy investment, as well as for companies to increasingly improve their performance," said the director, who called on companies to register their mergers and demergers with the ARC.
The training seminar on "Company Mergers", organized by the ARC, aimed at technicians in the construction sector and intended to explain the institution's actions with regard to company mergers to prevent monopolies that could harm healthy competition.
In addition to the construction sector, the event is being held with other specific sectors of the economy, such as oil. ML/AC/TED/AMP
