Matus fined R11m for inflating price of face masks

The company will pay a penalty of almost R6 million and make a contribution of R5 million to the COVID-19 Solidarity Fund.

Picture: Pixabay.com

JOHANNESBURG - The Competition Commission has announced that Matus has been fined R11 million for inflating prices of face masks and other personal protective gear.

The commission has referred the matter to the Competition Tribunal for approval after the company admitted to the inflation of prices of essential hygiene items during the COVID-19 outbreak.

The company will pay a penalty of almost R6 million and make a contribution of R5 million to the COVID-19 Solidarity Fund.

Competition Commission spokesperson Sipho Ngwema said the company was investigated after complaints were filed against it.

“Complaints with regards to inflation of profit margins and indeed our investigation discovered that the company was in breach of the Competition Act and consumer protection regulations as defined by the minister as part of fighting COVID-19.”