The Competition Commission continues to be flooded with complaints about price hikes for basic food items and coronavirus-related supplies - as does the National Consumer Commission.
A number of settlements and consent orders with several respondent firms had been attained, the commission said. The total value of the finalised settlements amounted to R12.9m.
“We say they must not keep that profit and we make sure that the penalty exceeds excess profit earned.” Another case that he highlighted involved a Tshwane-based firm that was busted for excessively hiking the price of face masks by over 500%. The case was heard in the tribunal and the outcome is still pending.
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