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Competition Commission calls for submissions in foreign deals

Competition Commission calls for submissions in foreign deals

Zorena Jantze

THE Namibian Competition Commission (NaCC) has called on stakeholders, as well as the public, to submit official complaints regarding the pending sales of Rossing and the Erindi Private game reserve to foreign-owned companies.

The call comes amidst heightened contention on the sale of one of the country’s oldest uranium mine, Rossing to China, as well as the Erindi Private game reserve to a Russian billionaire.

Last Week, the NaCC’s Director: Merges and Acquisitions, Johannes Ashipala, stated that preliminary findings show that the 68.62% acquisition of Rossing uranium to China National Uranium Corporation (CNUC) undermines the competition commission’s act.

He further stated that this would impede competition in Namibian mines.

Dina Gowases, spokesperson of the NaCC, stated that the Commission invites stakeholders, including customers, suppliers and competitors, to the merging parties or any party that has an interest in the matter to make written submissions to the Commission with 15 days from the date of publication of the notice on the Commission’s website.

Gowases added that pursuant to section 44(1) of the Competition Act, Act No. 2 of 2003, (“the Act”), the Namibian Competition Commission receives merger notifications for determination taking into consideration the provisions of section 47 (2) of the Competition Act.

“According to section 47(5) of the Competition Act, any person, including a person not involved as a party in the proposed merger, may voluntarily submit to an inspector or the Commission any document, affidavit, statement or other relevant information in respect of a proposed merger,” Gowases explained.

Other merges received by the commission, which are up for investigation, include Ohorongo cement, which will be acquired by Singapore-based International Cement Group, ICG.

 

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