Thebe helping in collusion probe into fresh produce market

Chief Executive Officer at Thebe Services Division, Jerry Mabena says they are shocked following a raid on one of its subsidiaries, Botha Roodt Group. The agency is one of 11 fresh produce market agents raided by the Competition Commission in Pretoria and Johannesburg on Thursday. The agents are suspected of price fixing, charging way below the market price making it difficult for smaller agents to make large profits. The commission says it received tip-offs from the Agriculture Department with information on key areas where the price fixing is occurring. Thebe Investment Corporation acquired 51% interest in the group Botha Roodt in December 2016.

We have been supporting the investigation an ensuring that we supply the commission with all the information that they need.

Jerry Mabena, Chief Executive Officer at Thebe Services Division

To actually say that we will make a formal statement around the collusion allegations would be premature.

Jerry Mabena, Chief Executive Officer at Thebe Services Division

As we sit now, it is a new investment for ourselves, we have been invested in that business literally just over a month, in fact two days to be exact.

Jerry Mabena, Chief Executive Officer at Thebe Services Division

From where we are sitting as Thebe we did our own due diligence to the extent that we have done the work we did we didn’t see anything and there is nothing that we would have reason to doubt management on.

Jerry Mabena, Chief Executive Officer at Thebe Services Division

Click below to listen to the full interview....

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