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Gordhan says price collusion in South Africa will be stamped out

Wed 22nd February, 2017 12:04pm
CAPE TOWN, Feb 22 (Reuters) - Collusion should be stamped 
out in any South African market, whether it is banking or bread, 
Finance Minister Pravin Gordhan said on Wednesday, as government 
looked to crack down on anti-competitive behaviour with a raft 
of new regulation. 
    The country's regulator, Competition Commission, said last 
week it had found more than a dozen local and foreign banks 
colluded to coordinate trading in the rand and the U.S dollar 
using an instant chat room called "ZAR Domination".  urn:newsml:reuters.com:*:nL8N1G61MR 
 
 (Reporting by Wendell Roelf; Editing by James Macharia) 
 ((wendell.roelf@thomsonreuters.com; +27 21 461 3523;)) 
 
Keywords: SAFRICA BUDGET/BANKS
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