The South African economy has undergone drastic changes since the establishment of democracy in 1994. The new Government embarked on the following restructuring process comprising of the following: macroeconomic stability; trade liberalisation; foreign exchange control reform; privatisation; deregulation of certain sectors and the establishment of sector-specific regulators; a revamped competition regime and a general move away from market distorting; demand-side measures to efficiency enhancing; and supply side measures.