If you’ve ever heard the word “monopoly” and thought of a board game, you’re not alone. In real life it means one company controls most of a market – like a single store that’s the only place to buy a certain product.
When a business holds that kind of power, it can set prices, decide who gets hired, and even shape what skills are in demand. That directly impacts students looking for internships or entry‑level jobs because the dominant player often decides which talent gets a foot in the door.
First off, monopolies can limit competition. If there’s only one big telecom provider, they control the salaries and training programs for new hires. That means fewer choices for fresh graduates who want to learn different skills or negotiate better pay.
Second, a monopoly can influence wages across an entire sector. When a single firm sets the standard, other smaller firms often follow suit, keeping salaries low. For interns, that could translate into unpaid positions or short‑term contracts with little learning value.
Look for a company that dominates market share – usually above 70% – and has few real rivals. In South Africa, sectors like electricity (Eskom) and rail transport have long faced monopoly concerns. Newer tech spaces are also watching big players like Telkom or major e‑commerce platforms.
Check the news for antitrust investigations or government hearings. If a regulator is stepping in, it’s a sign that the firm’s power might be too strong. Those stories often mention how the company’s dominance affects hiring trends and internship programs.
For students, the practical tip is to diversify where you apply. Even if a monopoly dominates a field, there are usually niche firms or startups looking for fresh talent. These smaller outfits can offer hands‑on experience that big players might not provide.
Also, keep an eye on partnership programs. Large monopolistic firms sometimes team up with universities to run internship schemes. Those can be a fast track into the industry but also come with strict rules and limited growth if you stay too long.
In short, understanding monopoly dynamics helps you make smarter choices about where to apply, what skills to develop, and how to negotiate your value as an intern. Stay informed, look beyond the biggest name, and use every opportunity to build a versatile skill set that keeps you valuable no matter who’s in charge.
Aliko Dangote, the chairman of Dangote Industries Limited, has decided to halt the company’s entry into Nigeria's steel industry due to accusations of monopoly. He highlighted that his company utilizes local raw materials and does not deter others from entering the same business. Encouraging other Nigerians to invest, Dangote emphasized that a level playing field exists for all investors.