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Posted: 21 Jan 2016 12:30
Category: Government & Development
Location: Africa , South Africa
Address: South Africa
Web Site: http://www.compcom.co.za
Contact Name: n/a
Phone: +27 (012) 394-3200 / 3320
About The new South African government signaled its intention to review the South African competition law regime in the White Paper on Reconstruction and Development in 1994 (Notice 1954 Gazette 16085 of 23 November 1994). The need for a new competition policy in South Africa must be seen in the context of a historical legacy of excessive economic concentration and ownership, collusive practices by enterprises and the abuse of economic power by firms in dominant positions. It was also recognized, however, that the South African economy and society was in a state of transition, in terms of a broader restructuring of the economy, the effects of globalization and trade liberalization and the need to redress past inequality and non-participation in the national economy. A fundamental principle of competition policy and law in South Africa thus is the need to balance economic efficiency with socio-economic equity and development.
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