The Competition Appeal Court’s judgment of 9 March 2012 ordered that a study be commissioned to “determine the most appropriate means together with the mechanism by which local South African suppliers may be empowered to respond to the challenges posed by the merger “ between Walmart and Massmart. The study will be conducted by three experts, one each representing government, South African Commercial, Catering and Allied Workers Union (SACCAWU) and Walmart. The costs of this study will be borne by Walmart.
Government notified the Competition Appeal Court today that its appointed representative to the expert panel is Professor Joseph Stiglitz. Professor Stiglitz, a Nobel laureate, is recognised internationally as a leading economist, who has vast experience in dealing with the effects of globalisation.
His work has shown the value of smart government action to promote social equity, growth and economic development. Professor Stiglitz has previously served as Chief Economist for the World Bank and as advisor to President Bill Clinton.
The Ministers believe that Professor Stiglitz will add depth and global know-how to the work of the panel and can assist the parties to identify an appropriate and constructive remedy to the potential negative public interest effects identified by the Competition Appeal Court arising from the merger.
The Ministers look forward to working with the merging parties and Professor Stiglitz in this process going forward.
Contact persons:
Legadima Leso
Government Communications (GCIS)
Cell: 083 378 9495
Saleem Mowzer
Economic Development (EDD)
Cell: 082 808 8135
Agriculture, Fisheries and Forestry (DAFF)
Cell: 082 778 0245
Sidwell Medupe
Trade and Industry (the dti)
Cell: 079 492 1774
