the competition and consumer protection commission (CCPC) board of commissioners has granted a conditional final authorization for the proposed acquisition of 55percent shareholding in bulks haulage limited (BHL) by cargo carriers limited.
The commission on 29th may, 2012 received an application from BHL concerning an application for authorization of the proposed acquisition of 55percent shareholding in BHL by cargo carriers limited.
BHL specializes in the transport of various commodities and providing total logistical solutions within Zambia and sub-Saharan Africa with the norm of business currently conducted in Zambia, democratic republic of Congo (DRC) and Namibia.
CCPC board chairperson simomo akapelwa says investigations and assessments found that the proposed transaction would not raise any competition concerns that may lead to substantial lessening of competition, abuse of dominant position of market power and or negate public interest issues in the economy of Zambia.
In making this authorization, Mr. akapelwa says the board emphasized the need for BHL to engage as many locals as possible for the new jobs to be created, as submitted by the company.
He adds that the commission has also emphasized for the parties to undertake the subsisting agreements that BHL had entered into with local suppliers.
Mr. akapelwa says the authorization is also on condition that the enterprise supports government policy on citizenship empowerment in accordance with section 13 clause1 and 2 of the citizen economic empowerment commission act.
However Mr. akapelwa says the commission will not hesitate to punish all enterprises that abrogate any provision in the competition and consumer protection act or any condition it puts in place in order to safeguard completion in any sector of the economy.