Business owner arrested for hiking prices faces R1m fine

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If found guilty, he will pay a R1 million fine or up to 10% of his annual business turnover. There is also a possibility of imprisonment for up to a year.

A retail business owner in Phoenix, Durban, has been arrested for inflating prices on goods, as citizens scrambled to make last-minute purchases before the national lockdown.The province’s MEC for Economic Development, Tourism and Environmental Affairs, Nomusa Dube-Ncube, said the owner of Longberry Meat Market was arrested for contravening the regulations of the Consumer Protection Act and the Disaster Management Act.

“My department is intensifying the implementation of a zero-tolerance policy towards price gougers, who are using the coronavirus outbreak to sell much-needed food and other products at inflated prices.” Pick n Pay in Pietermaritzburg and Hyper by the Sea in Durban are facing allegations of excessive price hikes on Lucky Star tin fish from R18 to R22, and hand soap from R12 to R17.The MEC also received complaints from consumers regarding SAfair Operations for refusing to issue refunds. Instead it handed out vouchers, deducting R300 for cancellation fees.

 

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