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South Africa: Authorities announce first-ever market inquiry

By  |  January 30, 2014

After amendments to South Africa’s competition law came into effect last April, reports say the Competition Commission has announced its first-ever market inquiry, one that will review competition in the nation’s healthcare industry.

The amendments give the Commission formal powers to conduct such market reviews, which include powers to summon individuals to testify or provide documentation as part of those investigations.

Reports say it is a major development for the strength of the Commission, whose market inquiry into the banking industry required voluntary involvement and cooperation from lenders.

Acting commissioner Tembinkosi Bonakele announced the healthcare market inquiry Thursday, noting the aim of the investigation will be to determine the cause of “price increases and expenditures that tend to be above inflation in the private healthcare sector.”

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