Last week the board of Commissioners of the Competition and Consumer Protection Commision (CCPC) busted and fined 3 organized cement cartels that had taken advantage of the covid 19 to hike deliberately prices.
Damgote cement however was given full leniency for having cooperated with the Commission during investigation ls
The 2 fined are Larfage Zambia plc and Mpande limestone limited.
The board also dropped charges against Zambezi portland cement limited after it was established that they were not part of the cement cartel.
The 2 companies were fined 10% of thier annual turnovers for 2019 and another 10% of their 2020 annual turnovers for price fixing and division of markets.
We hope the Commissioners of the Competition and Consumer Protection Commision (CCPC) can also look into other products that other companies are pricing which are anti-competitive so that these companies do not take advantage of the vulnerability of the market due to covid 19.