Caprichem, a Cape Town-based company, has agreed to pay a R500,000 (US$28,889.25) penalty for charging excessive prices for sanitisers.
The Competition Commission announced it had applied to the Competition Tribunal for an order confirming the settlement agreement the commission had reached with the company.
“On Thursday, May 28 2020, the commission referred a complaint against Caprichem for excessive pricing of 5l hand sanitisers to the detriment of customers and consumers. In terms of the settlement, Caprichem will pay an administrative penalty of R500,000.
“Furthermore, Caprichem has undertaken to pay a contribution of R100,000 to the Solidarity Fund,” the Commission said in a statement.
Caprichem, the Commission stated, had agreed to reduce its gross profit margin on 5l hand sanitisers for the duration of the state of the national disaster.
Full Content: Times Lives
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