Matus agrees to pay R11m fine for inflating price of masks

JOHANNESBURG – The Competition Tribunal yesterday won a psychological victory against coronavirus lockdown price hikes when tools company Matus agreed to pay an R11million fine for inflating the price of masks.

The settlement came just hours before the tribunal concluded its case against pharmaceutical retailer Dis-Chem.

It said Matus agreed to an R11m fine for inflating mask prices.

The anti-graft body said Matus would pay a R5.9m administrative penalty and contribute R5m to the Solidarity Fund.

It said Matus would also reduce its gross profit margin on dust masks to acceptable levels for the duration of the state of national disaster.