South Africa’s Competition Commission has a new leader, and he has taken on the burden to tackle some of the nation’s greatest antitrust challenges.
According to reports, Tembinkosi Bonakele has been announced has the new Commissioner of the regulator following last year’s investigation into, and subsequent resignation of, former Commissioner Shan Ramburuth.
Bonakele has been acting commissioner since last October.
While the competition expert has been with the watchdog for about a decade, playing a major role in its establishment of its anti-cartel efforts, reports say he has a lot to tackle at the authority.
In addressing reporters following the announcement of his new position, Bonakele said that the Commission is not yet in a position to criminalize anticompetitive behavior, noting that it is a complex process with significant legal implications.
The Commission only last year was given the power to launch investigations into various industries, and has since probed the healthcare sector, reports say. But Bonakele did not confirm whether the authority is working towards criminalization of anticompetitive behavior, or when such rules would be implemented.
Full content: Moneyweb
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.