Times Of Swaziland: SANDILE SIMELANE NEW COMPCOM BOARD CHAIRPERSON

SANDILE SIMELANE NEW COMPCOM BOARD CHAIRPERSON
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BY KWANELE DHLADHLA  on 18/10/2019 00:51:00


MBABANE – Minister of Commerce, Industry and Trade Manqoba Khumalo has
appointed Sandile Simelane as the Chairperson of the new Eswatini Competition
Commission Board.
Simelane, who was recently appointed as the Chief Executive Officer of Esicojeni
Foundation by His Majesty King Mswati III, was also serving as the Chairperson
of the Eswatini Investment Promotion Authority (EIPA) Board.
His appointment into the new Competition Commission Board, therefore, leaves the
position of EIPA Board Chairperson vacant.
Khumalo announced that the Ministry would fill the vacant position at a date yet
to be determined.
During the appointment of the Board at the minister’s offices on monday, the
minister welcomed the board and expressed the ministry’s support as it carries
out its duties.
“The ministry wishes to congratulate the new Eswatini Competition Commission
Board members as they assume their duties,” said Khumalo.
The commission was established in 2007 to provide for the encouragement of
competition in Eswatini’s economy by controlling anti-competitive trade
practices, mergers and acquisitions, protecting consumer welfare and providing
for an institutional mechanism for implementing these objectives.
The commission monitors, regulates, controls and prevents acts or behaviours
likely to adversely affect competition in the country.
Investigations
The functions of the commission include investigations in relation to the
conduct of businesses and mergers, the provision of information for the guidance
of consumers regarding their rights, the publication of reports and studies
regarding the operation of the Act, advising the minister on matters relating to
the commission, and cooperating with regional and international bodies engaged
in the enforcement of competition law and the promotion of a competitive
culture.
The commission’s mission is to create and promote a fair and competitive
environment that fosters economic growth and enhances consumer welfare.
Their vision is to be a credible, reliable and efficient consumer and
competition authority for nurturing a fair and competitive business environment.
Recently, the commission approved Lojaf (Pty) Limited to acquire the assets of
Hammond Brothers (Pty) Limited, and Hammond Family (Pty) Limited which operate
the Pick ‘n Pay stores trading at The Gables and Riverstone, respectively.
This was also confirmed by the commission’s Acting Chief Executive Officer
(CEO), William Sukati.
“The transaction has been approved on condition that suppliers will not be cut
off unjustly. Should there be a need for substitution of a supplier, an
application would have to be forwaded to the commission for approval,” said
Sukati.
The commission also reviewed and gave the green light to the acquisition of 70
per cent shareholding by PSPF at Woodlands Shopping Centre for E55 million.
Sukati explained that the commission considered the products of the merging
firms and concluded that the Woodlands Shopping Centre was the relevant market
itself, as such the relevant market was the provision of commercial space in the
Woodlands Shopping Centre in Eswatini.
“The market shares in the relevant market, market concentration,
countervailing power and barriers to entry will not be affected by this
transaction. The commission concluded that the transaction is unlikely to result
in the substantial lessening or prevention of competition. The transaction was
thus approved without conditions,” Sukati disclosed.
The acquiring, party Public Service Pension Fund (PSPF), is a public
organisation established in 1993 for the management and administration of
pensions for government (public sector) employees, and has its principle
business address at the sixth floor Ingcamu Building, Mhlambanyatsi Road,
Mbabane.