n SA Mercantile Law Journal = SA Tydskrif vir Handelsreg - The constitutional implications of the new section 73A of the Competition Act 89 of 1998

Volume 23, Issue 2
  • ISSN : 1015-0099
  • E-ISSN: 1996-2185



Various markets in the South African economy have historically been characterised by monopolies and high levels of economic concentration. These monopolies and concentrations of economic power were mostly enjoyed by several state-owned companies operating in strategic sectors of the economy and flourished largely with the aid of state concessions. They existed at the time of economic isolation during apartheid, in order to keep the domestic economy self-sufficient. The banking sector in South Africa remains highly concentrated to this day, with four major banks having a combined market share of over 90 per cent. As other observers have noted, at the time of the regime change in 1994, a mere five investment conglomerates accounted for 84 per cent of the capitalisation of the stock exchange and one of them by itself accounted for 43 per cent.

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