Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by Tunga Real Estate Fund trust of shares in Grootfontein Shopping Centre (Proprietary) Limited.

Acquiring group: The acquiring group invests in commercial real estate assets, as well as affordable housing and land servicing developments.

The target undertaking: The target undertaking owns and operates a retail mall in Grootfontein, Namibia, styled “Otjivanda Mall”. The mall’s tenants include Pick n Pay, PEP Stores, Clicks, MTC, Hungry Lion, and OK Furniture.

Relevant market: Defined as the market for the rental of commercial properties in Grootfontein, Otjozondjupa region of Namibia.

Merger Determination

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