Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by Africa Venture Partners Projects (Proprietary) Limited of shares in Closwa Holdings (Proprietary) Limited. 

Acquiring group: The primary acquiring undertaking is Africa Venture Partners Projects (Proprietary) Limited, a company duly incorporated in accordance with the laws of Namibia. AVPP is a venture capital company that manages and operates projects in Namibia, which include importing wine from South AFrica and producing and supplying ammunition. 

Target undertaking: The primary target undertaking is Closwa Holdings (Proprietary) Limited, a company duly incorporated in accordance with the laws of Namibia and involved in the production and supply of meat products. In Namibia, Closwa Holdings operates within the broader meat industry, where its focus is dried meat products such as biltong. 

Relevant market: Defined as the market for the production and supply of processed meat and related products in Namibia.

Merger Determination

The Commission found the proposed transaction unlikely to result in the prevention or substantial lessening of competition or result in any undertaking to acquire or strengthen a dominant position in the market and did 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.