Healthy competition boosts the economy

New digital markets have created regulatory challenges

- SIYABULELA MAKUNGA

EACH year, competition authorities around the globe mark December 5 as World Competition Day. This year, authorities reflected on their work in relation to artificial intelligence, consumers, and competition policy.

The business models of new digital markets are complex and constantly changing the competition landscape. This has brought about new regulatory challenges for competition agencies across the world, and here at home as well.

To attest to this assertion, Minister Parks Tau also wrote in the foreword of the Competition Commission's 2024/25 Annual Report, that the Commission continues to refine its approach and strengthen its capacity to address rapidly evolving digital markets.

To ensure we are equipped to address the competition challenges that the digital world is likely to present in the near future, it is vital for a competition authority to remain agile in its approach and efficient in the execution of its work.

At the Competition Commission, we constantly ask ourselves whether the outcomes we are delivering are tangible and offer relevant results for the people of South Africa, including opportunities for historically disadvantaged persons (HDPs) who would have been excluded in the past, and small and medium enterprises that contribute to building resilience and promoting fairness in the economy.

In a digital economy, this work is more important than ever. Just this past year, the Commission has undertaken significant followup work on the remedies and recommendations of the Online Intermediation Platforms Market Inquiry (OIPMI).