Description of Activities

Description of transaction: The Commission resolved to approve without conditions the acquisition that involves the sale and acquisition of the total shareholding relating to Grove Mall of Namibia Proprietary Limited by Gold View Investments Proprietary Limited.

Acquiring group: The primary acquiring undertaking is Gold View Investments Proprietary Limited. Gold View Investments Proprietary Limited’s shareholding is held by Namstead Limited, which in turn is jointly controlled by Homestead Group Holdings Ltd and Rockrunner Real Estate Limited. The acquiring group's business activities mainly revolve around investment in property, shares, securities, or equities outside of Namibia and are currently active in Switzerland, Mauritius, the British Virgin Islands, and South Africa.

Target undertaking: The primary target undertaking is the Grove Mall of Namibia Proprietary Limited, a private company incorporated in terms of the laws of Namibia, whose business activities relate to property for long-term capital appreciation and to earning rental income. Currently the target undertaking runs the Grove Mall in Windhoek. 

Relevant market: The relevant market is defined as the provision of business-zoned properties and specifically the retail market in the Khomas Region. 

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.

Furthermore, as per section 50 of the Act, these approvals do not relieve parties from complying with any other mandatory statutory approvals that any of the parties to the merger must comply with under Namibian laws. 

Merger Determination No.1 of 2026__