Tag: Competition Tribunal
More and more companies, engaging in price gouging, are finding themselves in a spot of bother, as consumers refuse to stand for it. The Competition Tribunal has confirmed three more consent agreements, relating to COVID-19 excessive pricing complaints. Since April, over 20 agreements have been confirmed. Bob Makukunzva, Lawyer at Gwina Attorneys joins CNBC Africa for more.
CNBC Africa speaks to a remarkable woman who brings a vast amount of knowledge and expertise to her new role as the chairperson of the Completion Tribunal - Mondo Mazwai, the first female and also the first person of colour to lead the Competition Tribunal.
Shoprite Checkers, the holding company of Computicket is being referred to the Competition Tribunal for anti-competitive practices. The retailer is being accused of entering into exclusive agreements to provide ticket distribution services for the entertainment industry. The competition commission have requested that the Tribunal administer a penalty of R14.5 million which is 10 per cent of the Shoprite’s 2018 Annual turnover, as per their financial report available on their website. Joining CNBC Africa for more is Sipho Ngwema, Head of Communications at the Competition Commission of South Africa.
Finance Minister Pravin Gordhan asks that reckless culture that led to the financial crisis must be prevented.