A PYMNTS Company

South Africa: Watchdog seeks fine against Afrimat for excessive prices

By  |  April 2, 2017

South Africa’s Competition Commission said on Sunday that it had asked the Competition Tribunal to fine construction materials group Afrimat for allegedly “abusing its dominance by charging excessive prices.”

    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.

    “The Commission is seeking an order from the Tribunal declaring that Afrimat … must pay the maximum fine allowable by law which amounts to 10 percent of its annual turnover in South Africa as well as its exports from the country,” the Commission said in a statement.

    A unit of Afrimat supplies the main ingredient in clinker bricks, which are mostly used in the construction of low-cost housing units, known as RDP houses in South Africa.

    “The Commission has found that Afrimat abused its dominant position from 2012 until at least 2016 (the conduct may be ongoing) by charging clinker bricks’ manufacturers excessive prices to the detriment of consumers,” the Commission said.

    Full Content: Times Live

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