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HILARY JOFFE: Does Competition Commission need a finger in every pie?

If the competition authorities aren’t focused on championing competition, who is? 06 June 2021 - 00:08 By Hilary Joffe Does competition regulation in SA still have anything to do with competition? It’s an inevitable question, after the Competition Commission recommended that a bid by a foreign private equity firm to buy Burger King SA from Grand Parade Investments be prohibited not because it raised any competition issues but because it would reduce the BEE shareholding in the burger chain. Leave aside concerns about the chilling effect this might have on foreign investment, or about the BEE shareholders who might well want the freedom to cash in their investment and buy something else, and just ask: isn’t it the BEE commissioner’s task to ensure companies comply with BEE legislation?..

Of second chances, strange logic, share dealings and votes

MONEYWEB app instead? Of second chances, strange logic, share dealings and votes US sanctions could give MTN a second crack at Ethiopian telecoms licence, CompCom confounds with Burger King decision, share dealings at Sibanye-Stillwater … and it seems something is up at Mpact. 00:01  Open: Open: Open: Open: Open: Open: It looks as though the apparently attractive Ethiopian telecommunications market might still be wide open for MTN. Just over two weeks ago the Ethiopian government announced that the MTN-led consortium had failed to secure the first of two licences that were up for sale. The winning bid was led by the UK’s Vodafone and included Kenya’s Safaricom, Sumitomo of Japan and, crucially, the Washington-based International Development Finance Corporation (DFC). MTN’s consortium included China’s Silk Road Fund.

Burger King: South Africa s Mad Adventures in Competiti

Who can forget the line, screamed by the Queen, “Off with her head! Off with…” Or: “No, no!” said the Queen. “Sentence first – verdict afterwards.” Writers and scholars have been trying to understand the meanings within Lewis Carroll’s fantastical work for 150 years, but for me the story was a powerful comment about the madness of power and government (and the wisdom of mere mortals). The Competition Commission and its commissioner, Tembinkosi Bonakele, exhibited the twisted logic worthy of Wonderland this week when the commission ruled against the acquisition of Burger King by Emerging Capital Partners, a Pan-African private equity firm that has been investing across Africa for the past 20 years. The firm has raised more than $3.2-billion in growth capital through its funds and co-investment vehicles. We’d like them to come back.

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