The Namibian Competition Commission (NaCC) has commenced an investigation into alleged exclusive dealings in property conveyance services between Bank Windhoek and Dr. Weder, Kauta & Hoveka Inc.
The investigation, according to the NaCC, sterms from a complaint received, “alleging that Dr. Weder, Kauta & Hoveka Inc and Bank Windhoek entered into an Exclusive Service Level Agreement that appoints Dr. Weder, Kauta & Hoveka Inc as the exclusive and sole conveyancing attorneys for properties financed through Bank Windhoek.”
The agreement between the two is alleged to be excluding other conveyancing service providers from offering services to Bank Windhoek property financing applicants, limiting competition.
“It is alleged that this agreement requires Bank Windhoek property financing applicants to only make use of Dr. Weder, Kauta & Hoveka Inc’s conveyancing services to the exclusion of other conveyancing service providers in the relevant market,” the NaCC said.
“The agreement and its maintained exclusivity is said to limit competition and forecloses other independent service providers in the relevant market, which is provisionally defined as the provision of conveyancing services to Bank Windhoek financed property transactions.”
The NaCC said Bank Windhoek and Dr. Weder, Kauta & Hoveka Inc had been notified of the investigation.
“The Commission has engaged all the affected parties and afforded them the opportunity to respond to the allegations. Upon receipt of the responses to the allegations, the Commission will conduct an assessment and stemming therefrom, determine the relevant cause of action.”
Conveyancing services is the preparation of transfers, conveyances, contracts and other documents in connection with the disposal or acquisition of property.