Effective competition is key to economic growth

Dr. Adano Wario, Director Planning, Research, Policy and Quality Assurance, CAK.

Effective competition is a driver of economic growth. Competition not only spurs efficiency among firms, but also ensures that more productive firms are rewarded for their innovation and adaptive strategies at the expense of complacent entities.

In addition, effective competition pushes firms of all sizes to innovate and differentiate, bringing new products and services to the marketplace. On the other end of the product value chain, consumers benefit from competitively priced goods and services that meet their changing and diverse needs.