Competition Commission head Tembinkosi Bonakele and his team are taking a sword to funny business in the private sector. Call him the Thuli Madonsela of the private sector‚ if you will.
For this attorney and MBA graduate‚ heading the Competition Commission is more than a job.
“I’ve realised that it’s an area of law that is closest to my heart. I like the intersection between law and economics‚ but most importantly‚ I like the connection to socioeconomic justice‚ which is very important‚” he told TMG Digital.
Bonakele assumed his current position in 2013 but has been serving at the commission for more than 10 years. In that time‚ the commission has launched a series of onslaughts against private sector transgressions.
Major rulings from his office include the R1.5bn ArcelorMittal fine for price fixing‚ and rulings that chastised Telkom and SA Breweries for abusing their dominance. The SAB finding was overruled by the Competition Tribunal.
More recently‚ the commission made damning findings against consumer goods company Unilever. The Boksburg-based company was ordered to pay a R35m fine for anticompetitive behaviour and to invest R135m in a new packaging and warehousing facility.