Pretoria, February 24, 2026 — The South African Competition Tribunal has confirmed a settlement agreement between the Competition Commission and Wilmar SA, bringing to a close a 10-year case concerning alleged price fixing in edible oils and baking fats.
The Tribunal issued its order on February 18, 2026, making the agreement binding. The Commission had initiated the complaint in December 2016 against Wilmar and several other firms, alleging they agreed on price increases and the timing of increases for edible oils, including baking fats and margarine, in contravention of Section 4(1)(b)(i) of the Competition Act.
The settlement with Wilmar follows earlier agreements concluded with the Willowton Group and Sea Lake Investments. Investigations into Africa Sun Oil Refineries (Pty) Ltd and Epic Foods (Pty) Ltd remain ongoing, while proceedings against FR Waring Holdings (Pty) Ltd have been discontinued.
Financial Penalty and Public Interest Measures
Wilmar agreed to settle without admission of liability and will pay an administrative penalty of ZAR 1 million (approximately $63,070).
In addition, the company committed to public interest measures amounting to ZAR 49.5 million over five years, as well as ZAR 45 million in foreign direct investment.
The public interest commitments include:
- Education initiatives: A ZAR 25 million bursary fund to support historically disadvantaged and underprivileged students pursuing tertiary education in food and agro-processing, with at least 50 percent of recipients being female. The fund will also support learnerships and apprenticeships.
- School infrastructure development: ZAR 14.5 million allocated to rural school improvements, including R7.25 million for the eradication of pit latrines and R7.25 million for building new schools and refurbishing existing ones.
- Enterprise and supplier development: A ZAR 15 million Enterprise and Supplier Development Fund to support small, medium, and micro enterprises and businesses owned by historically disadvantaged persons. Beneficiaries will receive financial support, mentorship, regulatory compliance training, and IT enablement, and will be integrated into Wilmar’s supply chain with a guaranteed minimum 12-month commercial engagement.
Investment In Packaging Plant
As part of its foreign direct investment commitment, Wilmar will establish a packaging plant in Durban, KwaZulu-Natal, with an estimated capital investment of R47 million [USD 2.5 million]. Construction is expected to be completed within 12 to 15 months of signing the settlement agreement.
Of the R10 million allocated to construction materials and services, 35 percent will be directed to Level 1 B-BBEE compliant suppliers that are more than 50 percent black-owned.
The Tribunal’s confirmation of the settlement concludes all proceedings between the Commission and Wilmar in relation to the matter.
