Competition Commission collects an international award
24 Apr 2018
The Competition Commission has been pronounced the “Agency of the Year in Asia- Pacific, Middle East & Africa” at the 8th Annual Global Competition Review Awards (GCR) held in Washington DC.
GCR is recognised as the world’s leading competition law and policy journal and news service that monitors competition enforcement worldwide.
The winners chosen by the international competition community through a nomination and online voting process. The shortlisted nominees included institutions, people and matters considered to be the “best of the best” in 2017.
“Taiwan’s Fair Trade Commission and Egypt’s Competition Authority were also nominated, but South Africa’s competition enforcer emerged as the clear winner. Top of the slate is its foreign exchange case. Barring settlements or dropping the case, the enforcer is set to become the first competition authority worldwide to have to prosecute its forex accusations in court, as other countries have reached a deal or issued administrative decisions.
“Beyond that, the commission is the best-established antitrust agency in Africa, with a track record of cracking down on cartels big and small, and of involvement in some of the world’s biggest deals,” said GCR on its website.
“We are honoured to receive this award and to be recognised by our global peers as a world-class organisation. We also thank GCR for their work on highlighting the importance of competition enforcement worldwide. Just today we presented our Annual Performance Plan and Targets for 2018/2019 to Parliament’s Portfolio Committee on Economic Development. We look forward to a very productive and fruitful year ahead, as we work hard to effectively contribute towards a growing and inclusive economy for all South Africans,” said Competition Commissioner, Tembinkosi Bonakele.
For more information on the 8th Annual GCR Awards, please log onto the GCR website at: