CTN firm pays R600,000 to settle charge for overcharging

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A Cape Town-based chemical firm has agreed to pay a settlement amount of R600,000 for allegedly charging excessive prices for hand sanitiser. A report in The Citizen notes that the Competition Commission said it had applied to the Competition Tribunal for confirmation as an order a settlement agreement with Caprichem (Pty) Ltd.

The commission said the settlement amount would comprise an administrative penalty and a contribution to the Solidarity Fund, which was established to assist the vulnerable in the wake of the COVID-19 pandemic. The commission said the administrative penalty would be R500,000, while R100,000 would be paid to the fund.

The commission said – since the outbreak of COVID-19 – it has received over 1,556 complaints or tip-offs related to excessive pricing of basic food products, masks and sanitisers.

Full report in The Citizen

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