Companies pay R14m in fines as Competition Commission comes down hard on Covid-19 price gougers

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
Since the national state of disaster was announced on March 17, the commission has received 1 592 complaints against businesses, suppliers and pharmacies alleged to have charged excessive prices for Covid-19-related products. Picture: iStock
Since the national state of disaster was announced on March 17, the commission has received 1 592 complaints against businesses, suppliers and pharmacies alleged to have charged excessive prices for Covid-19-related products. Picture: iStock

BUSINESS

Companies that have been investigated or found guilty of price increases of as much as 1 918% for essential Covid-19-related products have already paid more than R14.05 million in fines.

Of this, R5.5 million has been donated to the Solidarity Fund and more than R508 000 worth of essential goods have been donated, said the Competition Commission this week.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in

E-Editions

Read the digital editions of City Press here.
Read now
Voting Booth
ANC secretary-general Ace Magashule has written a letter suspending party president Cyril Ramaphosa in apparent retaliation after he was served with a letter of suspension on Wednesday.
Please select an option Oops! Something went wrong, please try again later.
Results
He doesn't have the power
28% - 24 votes
It’s a declaration of war
24% - 21 votes
Nothing but a distraction
48% - 42 votes
Vote