Advanced Competition Law

In an increasingly globalised and digital society, the role of businesses has never been more vital. The world has become more connected than it has ever been, with businesses being able to command world-wide markets. Furthermore, the regionalisation agenda has created single markets with certain economic communities, creating possibilities and risks for market players within these regions. As a result, the regulation of markets has become a task of outmost importance. Left unchecked, businesses may engage in anti-competitive practices which may have deleterious effects, not only on consumers, but on other businesses, as well as the economy more broadly. Competition law is that body of law that seeks to regulate the conduct of businesses within markets in order to ensure that markets are free, fair and efficient. In certain instances, competition law may be extended in order to advance social agendas such as transformation, employment, and the promotion of small to medium enterprises (SMMEs). The introduction of this module could not have been more timeous. It comes against the backdrop of proceedings to enact the Competition Bill which has been tabled before the parliament in Lesotho and developments at the continental level to initiate the Competition Protocol of the African Continental Free Trade Area (AfCFTA) which seeks to create a single market for goods and services on the continent. Moreover, the relationship between competition law and other areas of the law such as international trade law, investment law, intellectual property law and information communications technology (ICT) law is of outmost importance.