Common Market for Southern and Eastern Africa (COMESA) has approved over US$1 billion in mergers in nine member states last year.

COMESA competition commission (CCC) chief executive officer George Lipimile said the regional body was fulfilling its role as a one-stop shop for the assessment of cross-border transactions, thereby reducing the burden and cost of doing business in the economic bloc.

“Therefore, such transactions no longer need to be examined in each member state. Currently, the number of mergers notified with the commission stands at 13, with nine of them having already been approved by the Committee of Initial Determination. The estimated values of these transactions are well over US$1 billion,” he said.

Mr Lipimile said the CCC addresses the challenges posed by the globalisation of businesses and economies that have led to continuous rise in the number of multi-jurisdiction merger filings.

“This led the member states to call for the establishment of a framework for merger review and co-operation among interested agencies,” he said.

Among the key mergers approved in 2013 include one between Koninklijke Philips Electronics NV and Funai Electric Company Limited involving Egypt, Ethiopia, Kenya, Libya, Madagascar, Mauritius, Seychelles, Uganda and Zambia.

Another notable transaction was the takeover of Cipla Medpro, a South African pharmaceutical company by Cipla India involving all the 19 COMESA member states.

The commission is the first regional competition authority in Africa and the second in the world, after the European Competition Authority.

Mr Lipimile said the transactions no longer need to be examined in each member state, hence it has reduced on the burden of doing business.

It also provides the only and most extensive network of national competition authorities in Africa as it plays advocacy role in handling complaints relating to anti-competition business practices.

“In response to requests or where public comments are sought, the Commission has issued advocacy letters, comments and amicus briefs. Further to promote transparency and encourage compliance with law, it has issued guidelines, and also fast-track platform to deal with day-to-day complaints,” he said.

Meanwhile, business communities in COMESA member states have continued to respond positively to the advocacy work carried out by the CCC.