COSATU applauds the President for signing into Law the Competition Amendment Act
13 February 2019
COSATU applauds the President for signing into Law the Competition Amendment Act. We strongly support this progressive anti-monopoly legislationas it will help open up the economy, ensure greater competition, lower prices and spur badly needed economic growth. Workers are tired of being exploited by monopolies and seeing their meagre wages being squeezed dry by ridiculous prices.
The federation appreciates the processes of engagement at Nedlac, as well as later in the National Assembly and the NCOP. These led to many substantial areas of agreement. The following areas are particularly supported by COSATU:
- This Act will undo the concentration in the economy by the old white boys club, who are keeping emerging black players out.
- The Act will promote investment and lead to a reduction in prices in the SA economy.