Description of Activities

The Commission resolved to approve without conditions the acquisition by Lesaka Technologies Pty Ltd of the entire issued share capital in Adumo (RF) Pty Ltd. 

The acquiring group’s business activities involve bill and supplier payment solutions and the sale of a range of prepaid products made possible through point-of-sale (PoS) devices.

 The primary target undertaking’s business activities in Namibia involve providing integrated physical payment services between banks and retailers and providing online (non-card present) debit and credit card payment.

Merger Determination

The Commission found the proposed transaction unlikely to result in the prevention or substantial lessening of competition; does not result in any undertaking acquiring or strengthening a dominant position in the market and does not raise any public interest concerns.

However, as stated under section 50 of the Act, this approval does not relieve parties from complying with any other mandatory statutory approvals that any of the parties to this merger must comply with under Namibian Laws.