Ramaphosa: Open the market for black business

Ramaphosa: Open the market for black business

Deputy President Cyril Ramaphosa says South Africa's competition policy should play a role in boosting black business.

Cyril Ramaphosa
Olivia Phalaetsile

He was addressing the 11th annual Competition Commission economy and law policy conference. 

Ramaphosa says during apartheid the market was skewed along racial lines. 

"What the competition policy should do is to open up space so that new companies can be created and black people who were prevented from becoming players in the economy can do so. This refers to concentration of ownership and control which has largely been in the hands of the few," He says. 

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Ramaphosa says black people have become silent or minority players, because the system does not allow them to control and own portions of the economy. 

"We must therefore measure the effectiveness of our competition policy by the extent in which it contributes to the undoing of the racial and gender dimensions of economic concentration. Our competition policies should concern themselves with not only the conduct of companies, but also the structure of the market and our economy," He says. 

He says failure to open up space for other players inhibits innovation to the detriment of the economy. 

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