Economic Development Minister Ebrahim Patel late last week officially appointed Thembinkosi Bonakele new Competition Commission commissioner, following the ratification of the appointment by Cabinet.
Bonakele, who had been with the Commission for about ten years – having been a deputy commissioner since 2008 – had been acting in the position for the past six months, following the resignation of the former commissioner Shan Ramburuth.
“I am pleased to have someone of Bonakele’s calibre at the helm of the Competition Commission. He is taking leadership of the commission at a time when the South African economy needs to become more competitive and create many more decent work opportunities by combating market abuse such as cartels and pervasive monopolies, and ensure competitive pricing of products. In particular, the key jobs drivers identified in our policy frameworks require coordinated and concerted efforts to improve economic performance and development outcomes,” Patel said.
The Minister added that the Competition Commission had been one of a number of successful economic agencies and regulators that were, together, beginning to transform the South African economy.
“Mr Bonakele possesses the skills and experience to build on the successes of the Competition Commission,” he noted.
Bonakele said he was “honoured and privileged” to serve in the commission.
“I am aware of the enormous task of leading the commission and am committed to work with my colleagues to firmly establish the Competition Commission as an important institution in promoting economic development in South Africa,” he stressed.