Streaming issues? Report here
CapeTalk logo 2017 1500 x 1500 CapeTalk logo 2017 1500 x 1500
Best of Talk
01:00 - 03:00
volume_up
volume_mute

Up Next: Early Breakfast with Abongile Nzelenzele
See full line-up
Best of Talk
01:00 - 03:00

Home
arrow_forward
Local
fiber_manual_record
Politics

Dedicated team to fast-track investigation and prosecution of price hikes

20 March 2020 1:17 PM
Tags:
Competition Commission
COVID-19
price hikes
The Competition Commission says companies found guilty can be fined 10% of turnover for a first offence, and then 25% for a second.

The South African Department of Trade and Industry has released stringent price regulations in response to public outcry that retailers and manufacturers have hiked the prices of essential goods such as hand sanitiser and face masks during the Covid-19 pandemic.

Price rises may not exceed the increase in the costs of the raw materials or inputs and profit levels should not be hiked higher than the period prior to the outbreak of Covid-19.

Chief economist at Competition Commission James Hodge speaks to Clement Manyathela.

Is there any recourse for consumers who have been charged exorbitant prices already?

We will be collaborating with the National Consumer Council and there will be a toll-free number for consumers to complain.

James Hodge , Chief economist - Competition Commission

At the Commission, we have already set up a dedicated team to fast-track investigation and prosecution...at both a retail and manufacturer level.

James Hodge , Chief economist - Competition Commission

If found guilty they can be fined 10% of their turnover for a first offence, and then 25% for a second offence.

James Hodge , Chief economist - Competition Commission

He acknowledges there may be small retailers that have hiked prices on these necessary goods and those may be better dealt with under the National Consumer Protection Act.

Those fines are up to R1 million for each offence.

James Hodge , Chief economist - Competition Commission

There are serious consequences, says Hodge.

Listen to the interview below:


20 March 2020 1:17 PM
Tags:
Competition Commission
COVID-19
price hikes

Recommended

More from Covid-19 coronavirus explained

zweli mkhize

[LATEST] Coronavirus cases in SA now at 1655, 11 deaths confirmed

5 April 2020 10:28 PM

Health Minister Zweli Mkhize says on Sunday that two more people have died, one of them in the Western Cape.

Share this:
Read More arrow_forward

MTN-cellphone-network-service-provider-data-airtime-calls-123rf

Govt can as of Thursday use phone data to trace users to slow spread of Covid-19

3 April 2020 2:12 PM

"The data will be de-identified after Covid-19," says Ahmore Burger-Smidt (Werksmans Attorneys). "Until then, is it secure?"

Share this:
Read More arrow_forward

Refilwe Moloto 2019 B&W

#IFQSAT: We may find ourselves with a pseudo-lockdown and very dire consequences

3 April 2020 1:48 PM

Refilwe Moloto says after a strong start, government is whittling away at the regulations.

Share this:
Read More arrow_forward

Drone flying over city aerial photography 123rflifestyle 123rf 123rfbusiness

China uses drones to disinfect public spaces – should we do the same?

3 April 2020 1:03 PM

Should South Africa relax rules against aerial spraying of chemicals in the same way the Chinese have?

Share this:
Read More arrow_forward

zweliramajpg

South Africa acted faster, more efficiently than many other countries - BBC

3 April 2020 12:13 PM

The BBC on Friday heaped praise on South Africa’s “ruthlessly efficient” Covid-19 response and President Ramaphosa's leadership.

Share this:
Read More arrow_forward

Hyena mom Ribbon and baby WIldEarth video screengrab

Take your fam on a virtual game drive in Kruger during #21DayLockdown

3 April 2020 11:25 AM

Get the whole family together check out this amazing game drive on WildEarth.

Share this:
Read More arrow_forward

180314-duterteedjpg

Philippine President orders military to kill lockdown violators on the spot

3 April 2020 10:36 AM

"My orders to the police and military... shoot them dead. Is that understood? Dead. Instead of causing trouble, I will bury you."

Share this:
Read More arrow_forward

cigarette 2.jpg

Western Cape police to act against sale of cigarettes, says enforcement top cop

3 April 2020 10:36 AM

The police's head of lockdown enforcement Major-General Andre Lincoln says officers will act against those who sell or buy cigarettes.

Share this:
Read More arrow_forward

Wearing mask standing distance of 1 meter from others COVID-19 viruses 123rf

Czech Republic message: Masks partial protection is better than nothing

3 April 2020 10:05 AM

Czech Republic virologist Dr Emil Pavlik says wearing masks have kept Covid-19 infection rates and deaths low in the country.

Share this:
Read More arrow_forward

homeless-teen-boy-streets-beggar-poverty-123rf

South Africa’s economy to shrink by 23.5% in 2Q/2020 – Absa forecast

3 April 2020 9:17 AM

Africa’s most developed economy is heading for a very cold economic winter, says Absa Senior Economist Peter Worthington.

Share this:
Read More arrow_forward