We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

In his state of the nation address, President Jacob Zuma announced that the Department of Economic Development would introduce legislation to amend the Competition Act to "address the need to have a more inclusive economy and to deconcentrate the high levels of ownership and control we see in many sectors". He said: "In this way, we seek to open up the economy to new players, give black South Africans opportunities in the economy and indeed help to make the economy more dynamic, competitive and inclusive. This is our vision of radical economic transformation." So what needs to change in the act? It was enacted in 1998, expressly recognising the "excessive concentrations of ownership and control within the national economy" and the need for the economy to be "open to greater ownership by a greater number of South Africans" and to "provide all South Africans equal opportunity to participate fairly in the national economy". Its merger control provisions have been used by the competitio...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now