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FF Plus believes Burger King BEE interference will threaten free market system

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The FF Plus has expressed concern over the government’s interference in the acquisition of Burger King, as it believes that this could poses a threat to the free market system.

The Freedom Front Plus (FF Plus) issued a statement on Friday, 22 October 2021, in which it highlighted that the government’s interference in the Burger King transaction could pose a threat to the free market system. The party noted how the terms and conditions for the Competition Tribunal’s approval of the acquisition of Burger King South Africa by the private Equity fund ECP Africa Fund posed a serious threat to free market principles and economic progress in the country.

It further noted that this was the first acquisition the Competition Commission wanted to deny, as it would have a negative impact on Black Economic Empowerment. In observing that the acquisition was eventually approved by the tribunal, with terms and conditions related to BEE, the FF Plus determined that the method of regulation did not promote the free market approach to the economy.

See the post below.

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