It was enacted the Law no. 5/18, of 10 May, published in the Angolan Official Gazette (“Diário da República”) on that same date, which have approved the Angolan competition legal framework and establishes the new Competition Regulatory Authority as the public agency responsible for the implementation and monitoring of fulfilment of the newly approved competition laws. Also, the competition law has entered into force on the date of its publication (i.e., on 10 May 2018).
As provided in Article 2, the new Competition Law has a wide scope of application, capturing both private and state-owned companies, corporate groups, partnerships as well as any other legal persons or de facto undertakings, even if temporary by nature, and covering all their economic activities conducted, on either a permanent or an interim basis, in the Angolan territory or there producing or being able to produce its effects.
It also should be underlined that, in accordance to the new Competition Law, the concept of “competition” shall correspond to the “existence of independent companies between each other, conducting the same activity, and compete between each other’s, on equal terms, in order to attract costumers”.
It is also important to note that is still to be object of further appropriate regulation, by the Angolan President, the enactment and approval of an Organic Statute of the Competition Regulatory Authority, as well as the Regulation on the Fees to be charged by such authority in connection with merger control procedure or issue of documents and certificates.