In case you missed it, the CCRED Excessive Pricing Webinar held on 6 May 2020 is now available on CCRED’s YouTube channel!

Over 300 participants from 30 countries joined us for an insightful discussion with our panel of experts. The discussion continues @CCRED_UJ #ExcessivePricingSA.

You can find updates about upcoming CCRED and Industrial Development Think Tank COVID-19 policy briefs and webinars on our website, CCRED blog and our other social media sites.

Background:
The regulation of prices using competition law is unusual, but arguably necessary in a time of crisis. But what constitutes an excessive price under distorted market conditions, and how should dominance and market power be considered?

South Africa’s approach to dealing with the excessive pricing of essential goods and services during the State of National Disaster is novel and has drawn widespread local and international interest. Prices are deemed to be excessive under the new regulations if they are above those set prior to March 2020, and not justified by higher costs. The Competition Commission’s recent referrals to the Competition Tribunal against Babelegi Workwear Overall Manufacturers & Industrial Supplies, and Dis-Chem Pharmacies for inflating the prices of surgical face masks will put the approach to the test.

Panelists:

Opening remarks: Prof Massimo Motta – ICREA Research Professor at Universitat Pompeu Fabra, and Barcelona Graduate School of Economics. See "Price regulation in times of crisis can be tricky"
Mr James Hodge – Chief Economist, Competition Commission of South Africa
Prof Nicola Theron – Senior Managing Director, Economic and Financial Consulting, FTI Consulting
Ms Pamela Mondliwa – Senior Researcher, CCRED, University of Johannesburg

Host: Dr. Reena das Nair, Senior Researcher, CCRED and Senior Lecturer, University of Johannesburg