Dar es Salaam. The Fair Competition Tribunal (FCT) and Capital Markets Tribunal (CMT) are set to strengthen cooperation in case management, dispute resolution and technology as Tanzania’s business and investment markets expand.
The partnership will allow the newer CMT to draw on the experience of the FCT, which has handled more than 525 cases since it began hearing disputes in 2007.
The two institutions discussed the cooperation during a visit by CMT officials to the FCT.
FCT Registrar Mbegu Kaskasi said sharing experience would help both institutions improve their services and resolve disputes within a reasonable period.
“We have been here for almost 20 years. They came to learn from our experience, but we have also learnt a lot from them despite being established three years ago,” he said.
Mr Kaskasi said the tribunal handles an average of 45 to 50 cases a year, including disputes involving counterfeit goods and challenges to decisions by regulators. He said the experience could help the CMT establish efficient systems as the number of investors and businesses grows.
“ If goods are held for two years, they can deteriorate. On the financial side, if money is tied up and cannot be used for two years, its value falls. In the financial sector, time is everything,” he said.
Mr Kaskasi said efficient dispute resolution was essential to supporting businesses and attracting investment.
CMT Registrar Dr Martin Kolikoli said his institution was particularly interested in how the FCT organises and schedules cases to ensure timely decisions.
Established about three years ago, the CMT has registered six disputes. Two were returned over procedural issues, three have been decided and one remains pending.
Dr Kolikoli said the disputes have mainly involved investors and market intermediaries, particularly brokers.
Some investors have challenged decisions made by brokers without their involvement, while others have disputed funds arising from investment sales.
He said the FCT’s experience would help the CMT prepare for a potential increase in cases as participation in capital markets grows.
Dr Kolikoli said the CMT was developing a case-management system that would allow parties to participate in hearings remotely and access decisions without travelling to the tribunal.
