Biography: Competition Economics

Stephan Malherbe is the chairman of Genesis Economic Consulting, the first and largest competition and regulatory economics advisory firm in India. He is also the founder and chairman of Genesis Analytics in South Africa. He continues to practise in both jurisdictions.

Stephan has been involved in many of the major cases heard by the Competition Commission of India thus far, including cases dealing with banking, steel rails, capital markets and real estate. In an important recent judgment Steel Authority of India Limited, for whom Stephan provided expert economic analysis, prevailed. Notably, this decision was the first in India to subscribe to an effects-based approach in abuse of dominance cases, and demonstrates the central role economic analysis now has in competition cases before the CCI.

Stephan and his team have provided inputs into a large number of cases still to be decided, as well as compliance work. These cases have enabled the Delhi office – comprising a team of Indian nationals – to build up expertise in sectors as diverse as automobiles, air passenger services, liquid fuels, steel products, tyres and glass.

Stephan has considerable experience in all aspects of competition economics law, including mergers, cartels and joint ventures, vertical restraints, abuse of dominance, pricing, and compliance strategies. In South Africa, Stephan's evidence helped to secure a landmark settlement from the US soda ash export cartel Ansac, which had previously successfully opposed legal challenges in other countries. Major South African clients include the largest African bank Standard Bank, global brewer SABMiller, synthetic fuels giant Sasol, and the gold miner AngloGold Ashanti.

Stephan obtained a BComm and LLB (cum laude) from the University of Stellenbosch, South Africa. Thereafter he studied economics and finance at Harvard University, receiving a Masters degree from the Kennedy School of Government. Stephan participated centrally in the design of South Africa's competition law framework.

Outside of competition economics, Stephan has provided economic policy advice to a number of African countries at a presidential level. He is an internationally acknowledged expert on capital markets development, and recently co-authored the concluding chapter of a book on capital markets published by the World Federation of Exchanges in celebration of its 50-year jubilee. Stephan was influential in the drafting of certain aspects of South Africa's democratic constitution, in particular with respect to economic aspects of the Bill of Rights and the constitutionally guaranteed independence of the country's central bank.

Johannesburg office:

Genesis Analytics (Pty) Limited

Physical address: No. 50, 6th Road, Hyde Park (corner 1st Rd)

Postal address: P O Box 413431, Craighall, Johannesburg 2024, South Africa