The Competition Commission is a statutory body constituted in terms of the Competition Act, No 89 of 1998 by the Government of South Africa empowered to investigate, control and evaluate restrictive business practices, abuse of dominant positions and mergers in order to achieve equity and efficiency in the South African economy.
The Commission is empowered by the Competition Act to investigate, control and evaluate restrictive business practices, abuse of dominant positions and mergers in order to achieve equity and efficiency in the South African economy.
In addition, the Commission promotes voluntary compliance with the Act by providing education and advice on the application of the Act. The Commission can negotiate agreements with any regulatory authority to coordinate and harmonise the exercise of jurisdiction over competition matters within the relevant industry or sector, and ensure the consistent application of the principles of the Act. The Commission can also participate in the proceedings of any regulatory authority and advise (or receive advice) therefrom.
“Competition in theory leads to the dynamism, growth and innovation. Of course, here I am not just concerned about growth, but also the levels of participation by various groups. The South African economy, even at its best of times, turned to be quite exclusionary. Despite the authorities best endeavours, our economy remains highly concentrated with low levels of dynamism, persistent unemployment, inequality and poverty”