The recently appointed president of Republic of Angola, João lourenço’s proposal to introduce competition law into Angola, was recently approved by the Commissions of Constitutional and Legal Affairs and Economy and Finance of the National Assembly with the intention to introduce rules of sound competition law into Angola’s legal system.
In addition, the formation of a Regulatory Competition Authority has been approved this month. The Regulatory Competition Authority which will be tasked with promoting competition and ensuring compliance with the proposed rules and principles of competition. In ensuring compliance the Authority will have the power to introduce sanctions against any entity which fails to comply with the rules. The Competition Regulatory Authority will be guided by the criterion of public interest for promotion and defence of competition in within the market.