The Competition and Consumer Protection Commission (CCPC) has disclosed that it is actively undertaking investigations regarding the simultaneous and synchronised hike of cement prices.

In a statement issued to Money FM News, CCPC Senior Public Relations Officer Namukolo Kasumpa said the Commission has been investigating possible cartel conduct in the cement sector since 2019 after it carried out raids on four Cement Manufacturing Companies.

“CCPC has been investigating possible cartel conduct in the cement sector since2019 after it carried out raids on companies namely, Lafarge Zambia Plc, Dangote Cement Zambia Limited, Zambezi Portland Cement Limited and Mpande Limestone Limited,” she said.

She said despite investigations being hampered by the outbreak of the Coronavirus Pandemic; the Commission has made great progress contrary to media reports.

Ms. Kasumpa reiterated that CCPC will not condone any exploitation of consumers by any company stating that the general public and the media will be communicated to on the out come of the investigation once concluded.

“The Commission further warns all perpetrators that cartelistic conduct is criminal in nature and any company found wanting would be punished in accordance with the provisions as provided for under the Competition and Consumer Protection Act (CCPA) No.24 of 2010,” she cautioned.

In recent weeks, Zambia has seen a sharp increase in cement prices from around K90 for a 50kg bag to around K120-K125.