Arusha. Finally, the East African Competition Authority (Eaca) has taken off with the finalization of a study on the regional retail sector.
Although its permanent seat is yet to be determined, the newest body of the East African Community (EAC) is now fully operational.
Findings of the study are meant to develop policy and regulatory instruments that will address challenges faced by various players in the regional retail sector.
A source at the EAC secretariat told The Citizen that in order to entrench its activities, a law establishing Eaca would be amended.
The EAC Competition (Amendment) Bill, 2019 would address the gaps of the 2006 legislation that established the institution.
The Foreign Affairs and EA Cooperation deputy minister Damas Ndumbaro said recently plans are afoot to align the new institution to the broader activities of the EAC.
These will include conducting series of awareness workshops for the partner states officials, consumers and members of the business community.
The authority is allocated some $ 727,501 for its expenditure during the 2019/2020 financial year which started yesterday.
The estimates were approved on Friday by the East African Legislative Assembly (Eala).
The total EAC budget tabled was $ 111m.
According to Dr. Ndumbaro, major activities to be undertaken by EAC during 2019/2020 fiscal year will include recruitment of the staff.
Others are amendments of the organization's regulations 2010 and development of merger and acquisition regulations.
Eaca, a new of nearly a dozen institutions under the EAC, has a mandate to promote fair trade and protect consumer welfare in the region.
The Act establishing it says the authority would safeguard freedom to compete among business entities.