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The ECOWAS Regional Competition Authority (ERCA) convened a technical review meeting on digital market study in all ECOWAS Member States for a better understanding of the dynamics of this rapidly growing sector from 09 – 13th September 2024 in Freetown, Republic of Sierra Leone.
In line with its mandate to keep under review, commercial activities in the ECOWAS Market with a view to regulating practices which may distort the efficient operation of market conduct, or which may adversely affect the economic interests of consumers, ERCA, in collaboration with Member States, conduct of a study on digital markets, an evolving sector driven by technological innovations and changes in consumer preferences.
Digital technologies have in recent times entered all sectors of the economy and as more and more entities embrace the use of digital systems and technologies, competition authorities are increasingly confronted with the need to assess the unilateral conduct of players in these markets.
The meeting brought together the technical experts of the nine (9) Member states that contributed to the study. The primary objective of the meeting was to review the draft reports of Member States in line with Terms of Reference (ToR). In addition, the meeting sought to harmonize the country reports and discuss the methodology, analysis, findings and conclusions, thus enable the finalization of the study within the adopted timeline. It is also to discuss and adopt the roadmap for the finalization and submission of the final draft of the country and synthesis reports.
During the opening of the meeting, the Executive Director of ERCA, Dr Simeon KOFFI on behalf of the Commissioner for Economic Affairs and Agriculture, Madame Massandjé TOURE-LITSE welcomed the delegates to Freetown and thanked them for contributing to the study. He also thanked the Government of Sierra Leone through the Ministry of Trade and Industry for hosting the review meeting and appreciated the strong coordination and partnership in ensuring the success of the meeting. He acknowledged Sierra Leone’s commitment to ensure the implementation of the Community Competition Rules with efforts already ongoing in the review and finalization of a competition policy framework for the establishment of an independent national competition authority of Sierra Leone. He emphasized the importance of conducting such studies, with a view to assess the digital market landscape in Member States, a crucial in the economic development of the community. He further highlighted the digital market transformation and stated that conducting such a study would assist in knowing the challenges as well as leveraging its potentials for strengthening the integration within the sub region.
H.E. Harouna MOUSA, the Resident Representative of the ECOWAS Commission in Sierra Leone, on behalf of the President of ECOWAS Commission, H.E. Omar Alieu TOURAY, thank the government of Sierra Leone for the hosting of the meeting and reiterated ECOWAS’s unwavering commitment in deepening economic integration, emphasizing the importance of having a level playing field for all the players through the enforcement of competition rules. H.E Mousa echoed the similar statement the importance of the study as essential for the promotion of a competitive and consumer-oriented environment, ensuring that all market participants have a level playing field. He highlighted that the digital market study is not only crucial for fair trade but also for the overall economic development of the region.
The opening Statement of the Deputy Minister of Trade and Industry of The Republic of Sierra Leone, Hon. Fatmata KARGBO, representing the Minister of Trade and Industry, Hon. Alpha Ibrahim SESAY, welcomed ECOWAS Regional Competition Authority and experts from Member States. Hon. Kargbo conveyed the Minister’s keen interest in the implementation and enforcement of competition rules in Sierra Leone and underscored the Ministry’s strong commitment to the objectives of the meeting. Hon. Kargbo went further to elaborate on the importance of digital market to Sierra Leone’s economic development, highlighting it as a sector that the government of Sierra Leone is focusing on in terms of youth employment and for the supporting of the Micro, Small and Medium Enterprise (MSMEs), who are the direct beneficiaries in digital market.
The Technical review meeting concluded with the recommendations to each Member States Study report and agreed to the finalization of the study report with the adoption of the road map for the conclusion, adoption and publication of the study reports. The closing speech was delivered by the Minister of Trade and Industry who thanked ECOWAS for choosing Freetown to host this important meeting and to the Member States for their active contribution to this study. He reiterated Sierra Leone’s commitment to take part in the process of promoting competition and consumer protection in West Africa.