September 25, 2024
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N$100m Lady Pohamba expansion boosts Windhoek building plans
Companies

N$100m Lady Pohamba expansion boosts Windhoek building plans

September 13, 2022
0

The N$100 million additions at Lady Pohamba Hospital in Kleine Kuppe boosted the value of approved building plans in the City of Windhoek (CoW) to N$226.3 million in August.

NamPower ups Zambia power imports by 80MW
Companies

NamPower ups Zambia power imports by 80MW

September 13, 2022
0

Namibia now imports 180 megawatts (MW) from Zambia after NamPower secured additional power supplies from the Zambia Electricity Supply Corporation (ZESCO) as the country moves to bridge the electricity gap, The Brief has established. 

NWR excited by Qatar partnership prospects
Companies

NWR excited by Qatar partnership prospects

September 13, 2022
0

 Namibia Wildlife Resorts (NWR) says it is excited by a proposed partnership with Qatar, which presents business and growth opportunities for the hospitality group. 

What to expect from the rand in the coming months
Africa-news

What to expect from the rand in the coming months

September 13, 2022
0

The rand is expected to be beaten around by global markets in the coming months, as inflationary and interest rate pressure from central banks in the US and the European Union continue to dominate global market movements.

Barclays expands Africa offering to target US$2trn of wealth
Africa-news

Barclays expands Africa offering to target US$2trn of wealth

September 13, 2022
0

Barclays Plc is expanding private-banking services in Africa, looking to target the continent’s US$2 trillion high-net worth market.

Namibia starts work on Universal Internet Connectivity Access Fund
Technology

Namibia starts work on Universal Internet Connectivity Access Fund

September 12, 2022
0

Namibia’s envisaged Universal Internet Connectivity Access Fund, which aims to improve network connection around the country, including for schools and clinics, is expected to come into effect during the 2023/24 financial year, The Brief can exclusively reveal.

Heineken, NBL deal gets approval, NaCC demands local production
Companies

Heineken, NBL deal gets approval, NaCC demands local production

September 12, 2022
0

Heineken International BV (Heineken BV) plans to acquire a controlling interest in Namibian Breweries Investment Holdings Limited (NBLIH) and Distell Namibia Ltd have received a blessing from the Namibia Competition Commission (NaCC).

However, the competition watchdog has warned the international brewer that Distell’s products consumed in Namibia must be manufactured or at least be bottled locally, among a raft of conditions.

NaCC’s decision comes barely a week after the South African Competition Commission also conditionally approved the Heineken/NBL deal.

Heineken NV, which already owns a 49.99% interest in NBLIH, offered to buy Ohlthaver & List Group of Companies (O&L)'s 50.01% stake in the national brewer.

According to Namibia Breweries Limited (NBL), its planned acquisition by Heineken NV has the potential to attract investment worth N$10 billion for the country.

Below are some of the conditions set by NaCC:

Manufacturing

“After careful analysis of the proposed merger, which included extensive consultations with customers, competitors and other relevant industry stakeholders, the Commission approved the proposed merger with the following conditions.”

Firstly, up to 50,000 HL of Distell’s production and packaging of Hunters and Savanna brands should be moved from South Africa to Namibia within approximately two years. Secondly, up to 200,000 HL of Distell’s packaging of selected wine brands must be moved from South Africa to Namibia within approximately three years.

“The Commission determined that products consumed in Namibia must be manufactured or at least be bottled in Namibia and in so doing create additional employment and contribute to further industrialization and economic growth.”

Local Sourcing

To avoid the possibility of the merged entity resorting to procuring certain products and services abroad, NaCC has ordered that local sourcing continues post-merger.

“The condition stated that the Merged Entity shall not require customers in Namibia to purchase products within one product category (e.g. beer products) on condition that they also purchase products within any other product categories (e.g. wines) supplied by the Merged Entity.”

Employment

The NaCC has imposed a five-year moratorium on retrenchments amid concerns over the possibility of duplication of roles due to similarity in operations between the entities.

“The Commission noted that due to the similarity in the operations of the merged entity, the merger may result in a duplication of functions and positions, the Commission imposed a moratorium on retrenchments by way of an employment condition. The condition states that, following implementation, there shall be no retrenchments of employees below management level of the Merged Entity in Namibia as a result of the merger for a period of five years.”

Access to refrigerators

The Competition Commission ordered the amendment of NBL’s existing policy which prohibited retailers from placing other brands in NBL branded refrigerators post-merger, after it found that the rule is likely to deter or limit entry of Namibian-owned and Namibian-controlled undertakings in the market.

“The conditions state that the Merged Entity shall ensure that retailers shall be free to allocate up to 10% of Chilled Space/refrigerators in each beverage cooler owned by NBL or Distell Namibia in any on and off-consumption Outlet in Namibia. This allocation right shall apply only to products manufactured or packaged in Namibia by Namibian-owned and Namibian-controlled companies.”

Strongbow disposal

The NaCC has also ordered for the disposal of Heineken's Strongbow brand to remove an overlap in the flavored alcoholic beverages (FAB) category in respect of Heineken and Distell that is expected post-merger.

“The condition states that within 1 (one) year, the Merged Entity will license the rights to produce, market, distribute and sell Heineken's Strongbow brand in the Territory, to a Purchaser. Strongbow must be divested to an entity that does not have any relationship with the Acquiring Group and its subsidiaries,” the commission said.

MSME Fund

The NaCC imposed a condition requiring the establishment of an micro, small and medium enterprises (MSME) Development Fund to be used to build the capacity of selected MSMEs and thereby make them sustainable considering the effects of the COVID-19 pandemic on the economy and especially on MSME.

“The MSME Development Fund will be used to develop amongst others, technical trade and operational skills, end-to-end business management skills, digital, technology or related skills; or build capacity in areas of business directly or indirectly related to servicing the Merged Entity, including but not limited to the supply of technical services (e.g. stainless steel welding); the supply of secondary packaging (e.g. paper or plastic labels); the supply of advertising and promotion(al) services (e.g. manufacture of branded apparel or other branded items).”

 

Toyota plant reopening boost Namibia car sales
Motoring

Toyota plant reopening boost Namibia car sales

September 12, 2022
0

Toyota vehicles sales recovered significantly in Namibia following the resumption of production at its KwaZulu Natal plant, latest figures show. 

Nedbank eyes further growth of home loan unit
Finance

Nedbank eyes further growth of home loan unit

September 12, 2022
0

Nedbank Namibia plans to further grow its home loans division which has provided over N$ 5 billion in loans to prospective home owners.

Savanna Beef Processors raises N$169 million, N$31 million less of target
Agriculture

Savanna Beef Processors raises N$169 million, N$31 million less of target

September 11, 2022
0

Savanna Beef Processors says it raised only N$23 million from a targeted N$54 million from its second capital raise which closed last week Friday.

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