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South Africa watchdog seeks fine against Afrimat for excessive prices
April 2, 2017 / 3:37 PM / 8 months ago

South Africa watchdog seeks fine against Afrimat for excessive prices

JOHANNESBURG, April 2 (Reuters) - South Africa’s Competition Commission said on Sunday that it had asked the Competition Tribunal to fine construction materials group Afrimat for allegedly “abusing its dominance by charging excessive prices.”

“The Commission is seeking an order from the Tribunal declaring that Afrimat ... must pay the maximum fine allowable by law which amounts to 10 percent of its annual turnover in South Africa as well as its exports from the country,” the Commission said in a statement.

A unit of Afrimat supplies the main ingredient in clinker bricks, which are mostly used in the construction of low-cost housing units, known as RDP houses in South Africa.

“The Commission has found that Afrimat abused its dominant position from 2012 until at least 2016 (the conduct may be ongoing) by charging clinker bricks’ manufacturers excessive prices to the detriment of consumers,” the Commission said.

Afrimat could not immediately be reached for comment. (Reporting by Ed Stoddard; Editing by Susan Fenton)

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