Expectations and outcomes: considering competition and corporate power in South Africa under democracy

Competition law was viewed as a key instrument under democracy to address entrenched corporate power, in the context of liberalisation. This article examines South Africa's competition law regime and the changing strategies of large firms through three industry case studies. In the industry studies we assess, first, how corporate strategies have evolved to protect market power and the rents derived from this power and, second, how the competition regime has affected economic power and its exercise. We reflect on the overall record of the competition authorities in light of the outcomes observed.