The Competition Commission raided offices of edible oil companies on Thursday, suspecting involvement in cartel conduct which includes price fixing.
Bakhe Majenge, head of legal services at the Competition Commission spoke to CapeTalk's Kieno Kammies about what their investigations revealed.
The companies that we raided yesterday are involved in the business of manufacturing and distribution of refined edible oils, baking fats as well as margarine.— Bakhe Majenge, head of legal services at Competition Commission
The contravention that we are investigating relates mainly to the coordination of prices and to some extent customer allocation.— Bakhe Majenge, head of legal services at Competition Commission
Majenge says it seems these companies have coordinated prices at the same time.
Competition Commission received a tip-off form a third party and swiftly acted on it, says Majenge.
Five companies were raided and they could be fined for 10% of their total turnover.
To hear more on the action taken by the Commission, listen below: