The Competition Commission and the Department of Trade and Industry have just become a lot more powerful. Not only do they now dictate the rules of any new merger activity in the country, but they have extensive powers in launching inquiries into current corporate structures and deals concluded in the past.
For example, if the Vodafone/Vodacom merger was put forward to authorities now, not only would their activities in the mobile space be considered, but also their intentions to expand into themarket.
Irvine says this issue of limiting companies’ price bargaining power was highly contentious, and the factor most extensively debated in Parliament.Companies stated that taking away their power to negotiate bulk discounts, and incentivise their suppliers this way, will make the business environment less competitive, not better, in this regard,” says Irvine.
The RMB/BER business confidence index in South Africa stood at 28 in the second quarter of 2019, which is at its lowest level since 2017, as sentiment deteriorated sharply due to the power crisis and political uncertainty.
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