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Mask suppliers slapped with R1.7 million fine for inflating prices

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Mask suppliers slapped with R1.7 million fine for inflating prices

JOHANNESBURG – Two major South African companies supplying masks have agreed to pay R1.7 million to the Competition Commission for charging excessive prices in breach of COVID-19 regulations.

Sicuro Safety and Hennox Supplies were charged with contravening the Consumer Protection Act regulations after admitting to increasing prices for certain masks by more than 969.07% and 956%, respectively.
As part of their penalty, the two companies have also agreed to pay a contribution of R200,000 towards the Solidarity Fund and immediately desist from the excessive pricing conduct.
The Competition Commission together with the NCC through its call centre, have been receiving a number of complaints from consumers on excessive price hikes on items, including hand sanitizers, facial masks, Dettol and toilet paper, amongst others.

South African consumers are urged to continue monitoring the market and lodge complaints should they notice a sharp price increase.

The NCC’s toll free number is 0800 014 880 or 012 428 700 during office hours.

-News365

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