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The Seychelles Fair Trading Commission (FTC) has collected the largest amount of money in a fine since it has been established. This is mentioned in its report for 2022.
The Seychelles Fair Trading Commission (FTC) has collected the largest amount of money in a fine since it has been established. This is mentioned in its report for 2022. The Commission’s chief executive, Nathalie Edmond, made the statement recently. FTC managed to collect the largest fine since its inception from Cable and Wireless amounting to SCR 800,000 ($60,452), said Edmond. This fine was for the act of collusion. The telecom provider was found guilty of directly fixing a purchase or selling price.
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The Fair Trading Commission (FTC) was set up to promote efficiency and competitiveness and improve the standards of service, quality of goods distributed, and services supplied by business enterprises and service providers. FTC is also responsible for advocating and enforcing consumer rights and obligations in Seychelles by ensuring a fair and competitive business environment.
Among the areas of progress listed by FTC include the merging of three laws that governed the FTC into one. A tribunal has also been established to hear cases related to fair trading issues. Previously, the Fair Trading Commissioners would meet and take decisions on investigations carried out on complaints.
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The new tribunal does not fall under the FTC but the judiciary helps speed up hearing the cases. In 2021, FTC listened to and acted on 144 public complaints covering several sectors. The sectors with the most complaints are the construction sector and electronic appliances. She added that FTC will be working more efficiently through the introduction of an app that will allow people to submit their complaints online thus speeding up the process.
