MINICOM fines businesses for hiking prices amidst coronavirus crisis

By IGIHE
On 20 March 2020 at 03:27

The Ministry of Trade and Industry (MINICOM)has fined 24 companies which made undue price increases as the coronavirus crisis rages on for a combined amount of Rwf 1.68 million.

On March 19th, 2020, following inspections in the city of Kigali which found an abnormal increase in prices of some food products, intentional use of unapproved weighing scales and issuance of illegal invoice, MINICOM reiterated law 35 relating to competition and consumer protection. Businesses were advised to avoid hiking prices.

After inspections, MINICOM fined 24 companies in Kigali which increased prices on maize, rice, maize flour, sugar and cooking oil.

The announcement posted on Twitter on Thursday, March 19th, indicated a number of business people were fined during inspections made on March 18th, 2020 at different Kigali markets and trade centers.

Article 27 and 29 governing internal trade states that "businesses which are found guilty of imposing high prices can be imposed an administrative fine, require the culprit to repay the profit unduly benefited from the buyer and suspend the culprit’s activities for a maximum period of 3 months."

MINICOM has fined 24 companies which made undue price increases as the coronavirus crisis rages on for a combined amount of Rwf 1.68 million.
After inspections, MINICOM fined 24 companies in Kigali which increased prices on maize, rice, maize flour, sugar and cooking oil.

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