Saturday Jun 05, 2021

Have it your Way - How the ANC wipes out Burger King

"The Commission found that the merger would lead to a significant reduction in the shareholding of historically disadvantaged persons in the target firm, from more than 68% [empowerment shareholding in Grand Parade] to 0% as a result of the merger."

And with that declaration the so-called "Competition Commission," a body ostensibly responsible for rooting out monopolistic practices and malicious oligarchic behavior introduces race mercantilism to nix foreign direct investment in South Africa's collapsing economy.

That Grand Parade manged to find a white knight to swoop in and purchase its unprofitable 90 restaurant Burger King operation is something of a miracle in itself. That the ANC government would apply Apartheid era racist logic to prevent the majority "black owned" Grand Parade from salvaging money, undermine its common stock and jeopardized jobs around the country is astonishing. But then, we are talking about the ANC's South Africa.

The ANC and its captured government institutions harm all South Africans with their race based policies. The fact that 30 years after Apartheid, three decades of majority rule, we are seeing a country with entrenched racial preferences is disheartening. Such a betrayal of the liberation movement. It is astonishing.

#SouthAfrica
#competitioncommission
#GrandParade
#BurgerKing
#BEE
#ECP
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Have it your Way - How the ANC wipes out Burger King

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