(Seychelles News Agency) - The Seychelles Fair Trading Commission (FTC) has collected the largest amount of money in a fine since it has been established in its report for 2022, said a top official.

The Commission's chief executive, Nathalie Edmond, made the statement to SNA on Wednesday.

"We managed to collect the largest fine since we have been established from Cable and Wireless which paid SCR 800,000 ($60,452)," said Edmond.

This fine was for the act of collusion, whereby the telecoms provider was found guilty of directly fixing a purchase or selling price.

The Fair Trading Commission was set up to promote efficiency and competitiveness and improve the standards of service, quality of goods distributed and services supplied by business enterprises and service providers over which it has jurisdiction.

It is also the entity responsible for advocating and enforcing consumer rights and obligations in Seychelles while fostering a fair and competitive business environment.

The report, which is a compilation of the work carried out over 2022, shows the areas of progress recorded for that year.

The three laws that governed the FTC merged into one and a tribunal has also been established to hear cases related to fair trading issues.

"I am happy to say that the tribunal is up and running and this is speeding up the process of listening to cases," said Edmond.

Previously, the Fair Trading Commissioners would meet and take decisions on investigations carried out on complaints.

The new tribunal does not fall under the FTC but the judiciary helps speed up hearing the cases. 

In 2021, FTC listened to and acted on 144 public complaints covering several sectors, although Edmond revealed that the sectors with the most complaints are from the construction sector and electronic appliances.  

"We want to empower people with as much information on the Fair Trading Act so that they can make educated decisions," said Edmond.

She added that FTC will be working more efficiently through the introduction of an app that will allow people to submit their complaints online thus speeding up the process.

Last week, the Commission handed over a copy of its annual report to the Speaker of the National Assembly, Roger Mancienne.

In the hand-over ceremony, Mancienne said the fact that the annual report is accessible to anyone who wants to read it "will encourage the public to come forward to inform FTC of discrepancies which will also encourage retailers and wholesalers to work equitably."