CAPE TOWN – There have been several complaints of greedy business owners hiking up prices to financially benefit from the Coronavirus pandemic. According to the amended Disaster Management Act – these companies can be reported to authorities and face fines of up to R1 million and prison time.
So far the competition Commission is already investigating 21 cases of price gouging related to Covid-19 essentials and has bulked up their staff to deal exclusively with Covid-19 matters. So what do you do if you come across a company that is looking to exploit the crisis ?
You can call the Competition Commission on 0800 014 880 to report the business to authorities – the number is toll free.
If the company is found guilty they could face a fine of up to 10% of their turnover or up to 10 years in prison. Penalties of up to R1 million rand for each breach may also be charged.
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