By Terrance M. Booysen and peer reviewed by Lesley Morphet (Partner: Hogan Lovells)
The South African Competition Amendment Act 18 of 2018 (‘the Amendment Act’) which was tabled in Parliament in July 2018, and signed into law by President Ramaphosa last month, has been the subject of much debate and comment, especially insofar as it aims to implement far-reaching changes to the current Competition Act 89 of 1998 (‘the Competition Act’). Although the Amendment Act has been signed into law, it is yet to be brought into operation on a date to be declared by the President.
Article by Terrance M. Booysen
As South Africa’s economy continues to struggle with shrinkage of 7.1% in exports and imports -- which was recently reported by Statistics SA for the first quarter of 2016 -- our dismal GDP (gross domestic product) annual growth of less than one percent, is great cause for concern. The pressure to see some form of economic vibrancy, which has generally eluded the country since 2008, has never been greater than it is at this point in time.