Discuss the role and impact of competition law in South Africa, referencing the Competition Act, 1998.

Step 1: Answer 5.3.1 One reason for launching an enquiry into the online market in South Africa is the lack of effective competition in the fees charged by app developers, which leads to high prices for consumers. Step 2: Answer 5.3.2 The competition institution that has a similar status to that of a high court in South Africa is the Competition Tribunal. Step 3: Answer 5.3.3 Price fixing is an illegal agreement between competing businesses to set prices for their goods or services at a specific level, rather than allowing market forces to determine prices. This practice eliminates competition and harms consumers. Step 4: Answer 5.3.4 The role of the Competition Tribunal is to adjudicate on competition matters, review recommendations from the Competition Commission, and make final decisions regarding anti-competitive practices, including approving or prohibiting mergers and imposing penalties. It acts as a court for competition cases. Step 5: Answer 5.3.5 The Competition Act, 1998 (Act 89 of 1998) has benefited South Africa by: • Promoting competition in various markets, which leads to lower prices and better quality goods and services for consumers. • Preventing anti-competitive practices such as monopolies, cartels, and abuses of dominant market positions, thereby fostering a fairer business environment and encouraging innovation. Last free one today — make it count tomorrow, or type /upgrade for unlimited.