The Competition Act of 1998 has reduced the formation of monopolies in South Africa by achieving the following objectives.
What is the role of the South African Competition Act?
The South African Competition Act aims to:
- Promote and maintain competition in South Africa.
- Promote the efficiency, adaptability, and development of the economy.
- Provide consumers with competitive prices, higher quality goods and services, product and service varieties, and increased innovation.
Thus, the Competition Act of 1998 has reduced the formation of monopolies in South Africa by achieving the following objectives.
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