(3 Minutes Read)
Tanzania Fair Competition Commission (FCC) at the summit of World Anti-counterfeiting Week revealed that between 2.5 per cent and 3.5 per cent of goods traded in the country’s markets are counterfeit.
The FCC Director General, William Erio declared that the commission would intensify efforts to eradicate counterfeit goods to ensure consumers receive value for their money while protecting their health. FCC remains committed to safeguarding consumers by ensuring they receive products that meet safety standards, particularly in medicines, which can pose serious health risks when substandard.
Additionally, counterfeit products stifle market competition and result in significant revenue losses due to informal trade practices that evade government taxes. The use of counterfeit goods not only harms consumers and undermines economic growth but also stifles innovation and job creation opportunities. Furthermore, the DG urged Tanzanians to purchase goods from authorized vendors and avoid ‘machinga’ products that lack proper receipts or traceability. To mitigate risks, citizens should purchase goods from authorized outlets and refrain from buying untraceable products. Also, traders should desist from dealing in or producing counterfeit goods, as severe penalties await offenders, said Erio.
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https://trendsnafrica.com/tanzania-and-kenya-join-hands-to-fight-counterfeit/
The FCC’s mandate includes enforcing competition laws, preventing anti-competitive practices, and protecting consumers from deceptive business practices. The commission remains steadfast in ensuring a fair market that benefits all stakeholders and safeguards consumer interests.
