CHAMWE KAIRA
The Namibian Competition Commission (NaCC) has approved 11 merger transactions, imposing conditions on two mining-related acquisitions to safeguard public interest objectives, including employment creation, skills development, and greater participation of Namibian businesses in key sectors.
The Commission said it assessed each transaction to determine whether it was likely to substantially prevent or lessen competition, create or strengthen a dominant market position, and affect public interest considerations such as employment, industrial development, the participation of small and medium enterprises (SMEs), and the competitiveness of Namibian industries.
Among the transactions approved with conditions was the acquisition by CNNC Overseas Limited (CNOL) of a minority interest in Bannerman Energy (UK) Limited.
The deal relates to the Etango Uranium Project, which remains in the development phase and is not yet operational.
While the Commission found no competition concerns, it identified public interest issues and imposed conditions aimed at ensuring employment creation, skills development and transfer, and increased participation of Namibian firms, including SMEs, in the uranium value chain.
The Commission also approved, subject to conditions, the acquisition of control over Okorusu Holdings (Pty) Ltd and its associated fluorspar mining operations by Huajing Investment Limited and Walvis Bay Minerals (Hong Kong) Limited.
The transaction was assessed as a conglomerate merger with no competition concerns identified.
However, the Commission noted significant public interest considerations linked to the planned restart of operations at the Okorusu mine.
Conditions were imposed to ensure employment creation and protection, skills development and training, local value addition and beneficiation, compliance with environmental, health and safety standards, and adherence to legislation governing foreign ownership of agricultural land.
The Commission said the conditions are intended to support sustainable and inclusive economic development.
In addition, the NaCC approved nine transactions without conditions.
These include the acquisition of control by Horizon Frontier Holdings Ltd over Kamino Minerals Ltd, the acquisition of a controlling interest in Craton Mining and Exploration (Pty) Ltd by Appian Omega Bidco Ltd, and Brookstone Investments and Savanna Bloom Investments’ acquisition of hospitality assets through Havenrock Investments (Pty) Ltd and Roidina Farm (Pty) Ltd.
Other approved transactions include Nuvia Investments’ acquisition of Store All Container Storage (Pty) Ltd, Motion JVCo Limited’s acquisition of Castrol Group Holdings Limited, and the Norwegian Investment Fund for Developing Countries (Norfund)’s acquisition of a minority shareholding in Nafasi Water Technologies (Pty) Ltd.
The Commission also approved an exchange of participating interests in petroleum exploration licences involving TotalEnergies EP Namibia BV and Windhoek PEL 28 BV.
Although the transaction involved a horizontal overlap, the Commission found the resulting change in market share to be marginal and unlikely to affect competition.
Further approvals were granted for Sedgeley Solar Management (Pty) Ltd’s acquisition of sole control of Khomas Solar-Saver (Pty) Ltd and Maponya Energy (Pty) Ltd’s acquisition of a majority shareholding in Unisun Energy (Pty) Ltd, which manages the Okatope Solar PV plant supplying electricity to NamPower.
