South Africa fines pharmacy chain for jacking up mask prices

0
Face Masks

South Africa’s Competition Tribunal has fined Dis-Chem Pharmacies 1.2 million rand (70,300 U.S. dollars) for charging exorbitant prices for surgical masks during the COVID-19 pandemic.

Dis-chem, one of South Africa’s major pharmacy chains, hiked prices by 261 percent on the day when the country reported its first COVID-19 on March 5.

“Dis-Chem’s conduct was not only exploitative to the detriment of consumers but also reprehensible in the context of COVID-19, and requires serious sanction,” the tribunal ruled on Tuesday.

Shortly after the guilty verdict, Dis-Chem released a statement, saying it was unfair and contained errors of fact and law.

The company argued that the case focused on a short time period in March without considering the full context in which its local suppliers had no stock and it had to pay higher prices to import millions of masks.

Send your news stories to newsghana101@gmail.com and via WhatsApp on +233 244244807
Follow News Ghana on Google News

LEAVE A REPLY

Please enter your comment!
Please enter your name here