The Economic Community of West African States (ECOWAS) recently launched its competition regulator called the ECOWAS Regional Competition Authority (ERCA) in Banjul, Gambia. ERCA, by implementing the earlier published ECOWAS competition rules, is expected to promote, maintain and encourage competition among the regional states while enhancing economic efficiency in production, trade and commerce among the regional states.
ERCA aims to regulate business conduct such as abuse of dominance, mergers and acquisitions, state aid and restrictive business practices. ERCA is empowered to nonetheless approve mergers, acquisitions, or other business combinations which would create a dominant market position if they are in the public interest.
It is expected that ERCA will help in the full implementation of the provisions of the ECOWAS competition rules which will in return strengthen the economic, industrial, trade and investment policies of the regions and prevent anti-competition practices among the regions. This may improve the economy of the regions and turn them into stronger forces globally.