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High prices effect the poor most: Competition Commission

SABC News Tembinkosi Bonakele - High prices effect the poor most: Competition Commission

The Competition Commission says the low levels of competition in the country have a disproportionate effect on the poor because high prices affect the poor the most.

Commissioner of the Commission, Tembinkosi Bonakele, is delivering the opening address at the Competition law and economic policy conference underway in Pretoria.

Bonakele says the latest amendments to the Competition Act seeks to address abuse of market dominance by big business and to promote fair participation in the market.

“Twenty-five years after advent of democracy the benefits of economic activity are still unevenly spread, this path is simply not sustainable. So institutions like the Competition Commission are rightly increasingly facing pressure to effect change in markets that open up spaces for firms to enter and challenge incumbents,” says Bonakele.

 

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