The Ministry of Industry and Commerce has called on the Competition and Tariff Commission to bolster its efforts in protecting small to medium enterprises (SMEs) against monopolistic practices that stifle innovation and harm consumers.
Speaking recently, Industry and Commerce Minister Mangaliso Ndlovu emphasized the importance of the Commission adapting to current market trends to safeguard the interests of SMEs. He urged the Commission to strengthen competition enforcement by identifying and addressing anti-competitive practices.
Minister Ndlovu highlighted the need for increased vigilance in protecting SMEs, underscoring that monopolistic behaviors could stifle innovation and negatively impact consumers. He also noted that mergers between local entities are being driven by confidence-building initiatives and policies implemented by the government, further stressing the need for regulatory oversight to maintain fair competition.
