Minister of Trade and Industry, Dorcas Makgato-Malesu, says competition is the basis on which individuals in society have a platform for entrepreneurial ideas.
“These individuals’ collective efforts become part of the productive cycle and wealth creation in a society,” she said.
Makgato Malesu was speaking at the Competition Authority’s National Stakeholders Conference, held this week after the Authority’s official launch in January. The conference was attended by various stakeholders, including the private sector, government, councils and political party representatives.
The core mandate of the conference, according to Makgato- Malesu was to “provide a platform for interaction, networking and to afford the Competition Authority an opportunity to explain its mandate, challenges and limitations to a wider stakeholder circle.”
The Competition Authority’s Chief Executive Officer, Thula Kaira, gave the conference a brief on how the institution was established to become the regulator of competition in the economy. He said the Authority is “guided by other over-arching national policies accountable to Government through the Minister”.
Director of Legal and Enforcement Duncan Morotsi alerted the attendants on how to suspect foul play, based on, among others, “Formal complaints, anonymous tips, media reports parliamentary and council debates and publications by academics.”
He said those caught infringing the Competition Act would be eligible to a fine not exceeding P30 000.00 or to imprisonment for a term not exceeding two years.
It was also made clear that through market research the Authority is able to thoroughly scrutinize abuse of dominant positions and horizontal and vertical integration, which are conducive for unfair competition.
“Research is important for the Competition Authority since it provides information that helps in decision making, “said Director of Competition and Research, Dr Mokubung Mokubung.