A PYMNTS Company

South African Companies That Inflated Masks By 900% Agree to Fine

By  |  May 24, 2020

Two companies have agreed to jointly pay R1.5 million (US$85,000) for excessive pricing of face masks during the COVID-19 outbreak.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Sicuro Safety and Hennox Supplies have reached a settlement with the Competition Tribunal and will jointly contribute R200,000 to the Solidarity Relief Fund.

    The Competition Commission launched an investigation into the companies after receiving complaints from the public.The probe found that the businesses had increased their prices by over 900%.

    The Commission’s Sipho Ngwema said, “They have also undertaken to develop and implement a competition compliance programme that will cover all staff and management, educating them about the importance of the Consumer Act.”

    Full Content: EWN

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.