Unilever has agreed to pay a R16m penalty in a settlement agreement with the Competition Commission in South Africa.
- The settlement relates to allegations of anticompetitive behavior by Unilever in the margarine and spreads market.
- Unilever has not admitted guilt and the settlement agreement is still subject to approval by the Competition Tribunal.
- As part of the settlement, Unilever has committed to increasing its purchases from local suppliers by R340m over four years and setting up a supplier development fund.