More South African businesses found guilty of hiking prices during lockdown The Competition Tribunal has found two Gauteng mask suppliers guilty of inflating prices since the Covid-19 outbreak. According to the Competition Tribunal's spokesperson Gillian de Gouveia, TNT Basic Trading (TNT) admitted to contravening the Competition Act by significantly increasing its mark-up and gross profit margin on FFP2 respiratory face masks from January 2020 to February 2020.

The Boksburg company has since agreed to immediately cease from the excessive pricing conduct, reduce its mark-up on FFP2 respiratory face masks with immediate effect for the duration of the state of national disaster, and develop, implement and monitor a competition law compliance programme.

TNT will also be donating 182 boxes of 3-ply surgical face masks, valued at R150 to the Tsakane Society for the Care of the Aged, Elethu Daveyton Cheshire Home and the Bophelong Empilweni New Life Community Project in Tembisa. "The Commission further found that TNT has market power in the market for the supply of face masks in the Gauteng province, given the current pandemic and national state of disaster, and its ability to significantly escalate its mark-ups," the Tribunal said.

(SA News, 2020 - Source: https://businesstech.co.za/news/business/404415/more-south-african-businesses-found-guiltyof-hiking-prices-during-lockdown/)

Question 1 Based on the case study, provide a definition and discussion on business ethics. Question 2 Based on the case study, identify the Government and Community stakeholders mentioned and contrast what is happening against their expectations. Question 3 Discuss five (5) value/ benefits of sound corporate governance in companies like TNT.