The Namibian Competition Commission (NaCC) has transferred a total of N$65 million in penalties to the State Revenue Fund since its establishment in 2009, with the latest N$9 million payment made for the 2024/25 financial year.
The latest remittance, confirmed following an audit by the Auditor General, fulfils Section 53(5) of the Competition Act No. 2 of 2003, which requires all penalties collected by the Commission to be paid into the State Fund.
According to the NaCC, the N$9 million collected during the financial year came from settlement agreements in the non-financial (N$1 million), cement (N$5 million), and fuel and air transport (N$3 million) sectors.
The Commission found that companies in these industries had implemented mergers without prior approval and abused dominant market positions.
“The penalties collected during the financial year are a culmination of settlement or consent agreements the Commission entered into with parties that violated Chapters 3 and 4 of the Act,” said Dina //Gowases, Corporate Communications Practitioner at the NaCC.
She said the Commission’s enforcement powers are supported by the Competition Act, which allows courts to impose fines of up to 10% of a company’s total turnover from the previous financial year. “The Commission’s enforcement role is backed by a legal framework that allows the Court to impose penalties up to a maximum of ten percent of an undertaking’s total turnover,” //Gowases said.
She added that penalties play a critical role in promoting fair competition and deterring anti-competitive behaviour such as collusion and unauthorised mergers. “Penalties act as both deterrent and corrective measures, promoting compliance and protecting consumers from unfair market practices,” she said.
The NaCC urged all businesses to comply with the Competition Act, warning that non-compliance could lead to court action and heavy fines.
“The Commission remains committed to implementing the Act to the benefit of all Namibians,” //Gowases said.
