When Hollard Insurance Company of Botswana admitted to anti-competitive conduct and agreed to pay P4.83 million in the country’s first cartel settlement, the Competition and Consumer Authority (CCA) did what competition regulators are expected to do. It investigated, secured an admission, imposed a financial penalty and extracted compliance commitments.
Hollard Isurance, Botswana Insurance Company, Old mutual, and Autoboys were accused by the CCA of running a multi-billion Pula anti-competitive insurance cartel. Hollard confessed and settled with the CCA.
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