NaCC approves wave of mergers in fuel, healthcare and property deals
The Namibian Competition Commission (NaCC) approved 15 mergers during the first quarter of 2026, clearing transactions across the fuel, healthcare, banking, logistics, property, insurance, transport and manufacturing sectors, while attaching conditions to only three deals.
Among the most significant approvals was Nasan Energies' acquisition of 52 Engen and Shell-branded service stations from Vivo Energy Namibia and Engen Namibia.
The commission found the deal could lessen competition and strengthen market dominance in fuel wholesaling. Still, it approved it because of the public-interest benefits associated with increased local ownership, participation by historically disadvantaged Namibians, SME involvement and employment protection.
The approval was subject to a condition that prevented Nasan from sourcing petroleum products, directly or indirectly, from Vitol or its affiliates.
The fuel transaction formed part of the remedies imposed after Vitol acquired Engen and is one of the most closely watched competition matters in the country.
Healthcare featured prominently among the approvals. The commission cleared the acquisition of the Namibian Oncology Centre by a consortium comprising Salt Equity, FISEA and Jan Bosch Investment Limited.
The acquiring group already has interests in Rhino Park Hospital, Welwitschia Hospital and related healthcare businesses.
The commission found the transaction unlikely to reduce competition in specialised oncology services.
Another healthcare transaction saw Mediclinic Windhoek and Mediclinic Properties receive approval to acquire Treeside Medical Suites, Treeside Medical Guesthouse and the property on which they operate in Windhoek.
The deal was approved with employment conditions after the commission identified public-interest concerns relating to jobs.
In the maritime sector, Murrelets Investments obtained approval to acquire Novaship Namibia, a Walvis Bay-based company providing ship agency, clearing and forwarding, chandling and marine safety services.
The commission also attached employment-related conditions to that transaction.
The banking sector saw IJG Securities Money Market Trust acquire preference shares in Letshego Bank Namibia. The regulator concluded that the transaction would not substantially lessen competition in the provision of banking services.
A major international beverage transaction also received approval. Coca-Cola HBC AG and Coca-Cola HBC Holdings acquired control of Coca-Cola Beverages Africa, which, in turn, indirectly controls Coca-Cola Namibia Bottling Company and Northern Mineral Waters. The commission found no competition concerns in Namibia's non-alcoholic ready-to-drink beverages market.
The insurance sector recorded the acquisition of King Price Financial Services and King Price Insurance Namibia by Singapore-based Orient Victoria Capital and South Africa's KP Partners.
The regulator concluded that the deal would not adversely affect competition in Namibia's short-term insurance market.
Continued investment
Property transactions also featured strongly, with O&L subsidiary Wernhil Park receiving approval to acquire Erf 3544 in Klein Windhoek together with its associated letting business, while Gold View Investments secured approval to acquire Grove Mall of Namibia. Both transactions were approved without conditions.
The logistics and transport sectors experienced further consolidation. Intertoll International Holdings acquired rail leasing company GPR Leasing Africa, which owns locomotives and wagons operating in Namibia. At the same time, Rix Transport and Sanga Tours & Safaris underwent a restructuring of family ownership approved by the commission.
Other approvals included the acquisition of Vertice Medtech Holdings by Vertice BidCo in the medical technology sector, the takeover of Hospitality Textile Supplies by South African investors, Harvestime's acquisition of McCain South Africa's vegetable business, and the acquisition of Swami Properties and Winelwo Investments by Botswana and US-linked investors.
The commission's latest decisions indicate continued investment interest across Namibia's economy despite ongoing concerns about market concentration in strategic sectors such as fuel supply.
Most transactions were approved without conditions after the regulator concluded they were unlikely to prevent or substantially lessen competition, while the few approvals carrying conditions were designed primarily to safeguard employment or address competition concerns.
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