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Shoprite Checkers stops exclusivity in lease agreements in 'historic' South African settlement

( October 12, 2020, 09:40 GMT | Official Statement) -- MLex Summary: South African retailer Shoprite Checkers will with immediate effect stop enforcing exclusivity clauses contained in various lease agreements against small and medium-sized enterprises and specialist line stores, after the Competition Tribunal confirmed a settlement between the company and the competition watchdog. Exclusivity harming other supermarkets will cease immediately in non-urban areas and will be phased out over five years in urban areas, the Competition Commission said, welcoming this “historic agreement.” “The opening of space in shopping centers . . . provides an opportunity for new businesses to emerge . . . and this is crucial in providing consumers with product choice and alternative places to shop for grocery products,” said Competition Commissioner Tembinkosi Bonakele.Statement follows. ...

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