Earlier this week, the Common Market for Eastern and Southern Africa (“COMESA”) Competition Commission issued a press release confirming the first instance of a fine being levied against merging parties for failure to notify a merger within the prescribed period of time.
Before the Mineral and Petroleum Resources Development Act came into force, the position was that the landowner was also the owner of everything that is above and below the land, including the minerals. The landowner, subject to consent in terms of the Minerals Act, had the right to mine any minerals on his or her land and could dispose of such minerals for his or her own account. The landowner also had the right to sell the mineral rights to third parties, thereby severing the ownership of the minerals from ownership of the land. Where the landowner decided not to mine or to sell the mineral rights, it had the effect of ‘sterilising’ the minerals under his or her land.
In a response to disruptions caused to the supply chain of essential goods as a result of the events that took place during the last two weeks, the Minister of Trade, Industry and Competition, consulted the Competition Commission and published a Block Exemption for the Security of Supply of Essential Goods Regulations (“Regulations”) that now allows affected companies, in both horizontal and vertical relationships, to communicate and co-ordinate with each other in order to respond to the actual or anticipated shortages of essential goods in the country.
During last year Grand Parade Investments (GPI) announced that it would sell Burger King South Africa and Grand Foods Meat Plant, which primarily supplies Burger King with patties, to a fund which is owned by Emerging Capital Partners (ECP).
It would appear that the South African Competition Commission (the Commission) continues with its robust approach to horizontal mergers as it has recently recommended that Pepkor’s sale of the Building Company (BUCO) for 1.1 billion rand to Cashbuild be blocked. The Commission argues that the merger will create a dominant supplier of building material and related products in many townships and
As the world deals with the COVID-19 pandemic, organisations, governments, law enforcement, regulators monitoring and or overseeing fraud controls in organisations, are all preoccupied with efforts to manage the effects of the pandemic as well as the spread of the virus, to temporarily worry about fraud. That creates a perfect storm where it is a great time for the fraudsters
In South Africa’s first contested excessive pricing case in the context of COVID-19, the Competition Tribunal (“the Tribunal”) found Babelegi Workwear and Industrial Supplies CC (“Babelegi”), a Pretoria-based company, guilty of excessive pricing of dust masks between 31 January 2020 to 5 March 2020 (“the complaint period”). The Tribunal, in its Order and Reasons, found that Babelegi contravened section 8(1)(a) of the Competition Act …