Unlisted integrated tourism group Tourvest Holdings has been ordered to pay an administrative penalty of just over R9.18 million within 30 days, after the Competition Tribunal found the company guilty of collusive tendering or price fixing together with the Siyazisiza Trust.
The Competition Commission of South Africa welcomed the decision by the Competition Tribunal on Monday, saying that Tourvest and the Siyazisiza Trust had contravened a section of the Competition Act.
“The contravention related to bid rigging in respect of a tender issued by Airports Company South Africa (Acsa) in February 2013, for leasing three opportunities of arts, crafts, and curio retail spaces at OR Tambo International Airport for a period of five years,” the commission said.
Tourvest being fined by the competition authorities could not have come at a worse time for the group, considering the devastating impact the Covid-19 pandemic has had on the tourism, hospitality and leisure retail…