Competition Comission’s intervention in Burger King sale damages foreign investment drive
3 June 2021
The DA is deeply concerned by the actions of the Competition Commission to block the sale of Burger King in South Africa on “public interest” grounds.
We are of the belief that these actions, which had nothing to do with competition issues and everything to do with racial bean counting, sets an incredibly dangerous precedent about how future sales of business will be conducted.
Because of this intervention by the Competition Commission, it has effectively devalued every business in South Africa and sent a warning signal to foreign investors that they have no business in South Africa if they do not confirm to Broad Based Economic Empowerment.
This was proven by the 17% crash in the value of Grand Parade Investments (GPI), which owns Burger King in South Africa on the JSE.