South Africa

News24.com | R5.5 million donated to Solidarity Fund from competition watchdog's lockdown pricing crackdown

The Competition Commission has referred and settled 30 Covid-19 related cases to the value of over R15.3 million, of which over R5.5 million has been donated to the Solidarity Fund, the watchdog said on Tuesday.

There have also been donations of essential goods to affected communities to the value of R 551 886.70, it said.

In the same statement, the Competition Commission welcomed a decision by the Competition Tribunal to confirm as an order a consent agreement between the Commission and a KwaZulu-Natal subsidiary of Massmart, namely Cambridge Food Jozini.

In terms of the agreement, Cambridge Food Jozini will reduce its gross profit margin on 25kg top white maize meal for the duration of the state of national disaster.

Cambridge Food Jozini has also agreed to donate essential goods to Siyaphambili Qondile Home Based Care Project 1 to the value of just under R25 000, according to the Competition Commission.

The antitrust body said it had received a complaint that prior to the declaration of the national state of disaster, Cambridge Food Jozini was selling the 25 kg top white maize meal at far lower prices.

Compiled by Marelise van der Merwe

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