10 ways the new Competition Bill will change the business landscape

2018-12-09 16:02

The National Council of Provinces this week passed the Competition Amendment Bill, which will now go to the president for his assent, here's what it means for businesses.

Patel: I declined several invites from the Guptas

2018-11-19 15:11

Economic Development Minister Ebrahim Patel says he declined several invitations from the Guptas, including one to attend the now-infamous wedding at Sun City in 2013.

Patel says SA must manufacture own trains, not buy them abroad

2018-10-26 15:39

There is no reason for South Africa to buy trains from Asia or Europe, Economic Development Minister Ebrahim Patel has told the South Africa Investment Conference.

We could have done better, government admits on SA economy

2018-10-18 20:00

Quarterly economic and employment data paint a bleak picture of South Africa’s economic health. Aside from entering a technical recession in September, South Africa lost 69 000 jobs in the second quarter of the year.

Competition Commission spends R14.9m on VIP security, says Ebrahim Patel

2018-10-08 19:27

Over the past year, the Competition Commission saw a "spate" of unsolved crimes, including executives being robbed at gun point and a security breach at the commission's premises.

AG slams Competition Commission over R128m in irregular expenditure

2018-09-25 21:24

Auditor General Kimi Makwetu has said the commission not only incurred millions in irregular expenditure but also exceeded its approved budget.

Competition amendments close loopholes and support small business - Ebrahim Patel

2018-09-11 21:38

Minister of Economic Development Ebrahim Patel has told Parliament that definitions for various anti-competitive behaviour were replaced with guidelines to close loopholes and allow court discretion in a dispute.

BUSA: Yes to Competition Amendment Bill, but keep watchdogs in check

2018-08-30 21:42

BUSA says it welcomes the Competition Amendment Bill, but wants watchdogs' powers to make unilateral findings kept in check.

Competition Commission to get R282m to 'open SA economy for all' - Patel

2018-05-10 20:00

The Competition Commission, which is facing resource challenges, will be allocated R282m of the Economic Development Department’s R1.1bn budget this year, says the department's minister Ebrahim Patel.

Sinopec commits to R6bn in investments if it wins Chevron SA bid

2018-01-11 19:05

Minister of Economic Development Ebrahim Patel says Chinese state-owned oil company Sinopec committed to invest some R6bn in South Africa if it succeeds in acquiring the assets of Chevron SA.

 

Land Bank boss Tshokolo Nchocho to head up IDC

2018-12-06 13:18

The appointment of Land Bank boss Tshokolo Nchocho as the next CEO of the Industrial Development Corporation has been approved by Cabinet.

Panel looking into ways to improve effectiveness of competition authorities – Patel

2018-10-31 21:50

Even strong institutions like the Competition Commission face challenges which are being addressed, Economic Development Minister Ebrahim Patel has said.

National Assembly passes Competition Amendment Bill and this is what it means for your business

2018-10-24 12:14

The National Assembly has passed the Competition Amendment Bill, allowing it to be referred to the National Council of Provinces for concurrence. The bill seeks to close loopholes in the current Competition Act, and define contraventions and uncompetitive conduct by companies more explicitly.

Alibaba founder Jack Ma to give keynote address at Ramaphosa's Investment Summit

2018-10-18 14:27

Alibaba founder and tech billionaire Jack Ma will deliver a keynote address at the upcoming Investment Summit in Johannesburg next week, as President Cyril Ramaphosa seeks to attract billions in new investments to kickstart SA's lagging economy.

Industrial Development Corp increases disbursements by 40% to R15.4bn

2018-09-26 07:31

Total disbursements from the Industrial Development Corporation increased by 40% to R15.4bn during the 2018 financial year, but more work needs to be done to ensure economic inclusivity said Economic Development Minister Ebrahim Patel.

Gordhan: Stimulus plan all about implementation

2018-09-21 15:00

The newly-announced economic stimulus package stands out in that there is a focus on implementation, says the minister of public enterprises.

Legal wrangle over Gupta-linked Shiva Uranium loan still ongoing - IDC

2018-09-03 19:58

Economic Development Minister Ebrahim Patel says, according to the IDC, litigation over its loan to Oakbay is ongoing and there is still debt outstanding.

Tougher crackdown on the cards from competition authorities - minister

2018-07-18 21:00

The Competition Amendment Bill will allow for a tougher crackdown on offenders to competition laws, including the issuing of fines for first offences.

Cutting data costs a government priority - Patel

2018-02-20 10:08

Government will prioritise bringing down data costs as part of developing an economy in line with the fourth industrial revolution, says Minister of Economic Development Ebrahim Patel.

Ebrahim Patel: Why govt won't take 'sledgehammer' approach to deconcentrate markets

2017-12-19 19:54

Government won’t propose a law to deconcentrate markets, says Minister of Economic Development Ebrahim Patel.

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