It’s a steal

Finweek English Edition - - Letters -

IF YOU THINK South Africa’s steel pro­duc­ers are in any way in­tim­i­dated by the con­cept of an in­ves­ti­ga­tion by the Com­pe­ti­tion Com­mis­sion, think again. A roll of 2mm steel fenc­ing wire – an es­sen­tial item in the farm­ing com­mu­nity – cost R806 in March and now, from the same sup­plier, costs R1 478 (an in­crease of 83%).

The steel pro­duc­ers are cock­ing a mid­dle fin­ger at the com­mis­sion. I hope the next time one of the CEOs of those com­pa­nies eats an ex­pen­sive steak on his en­ter­tain­ment al­lowance he chokes on it.

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