Description of Activities

Description of transaction: The Commission resolved to approve without conditions the acquisition by Adumo Technologies (Pty) Ltd of shares in Innervation Value Added Services (Pty) Ltd. 

Acquiring group: The acquiring group in Namibia provides online non-card-present payment collections via Bank Windhoek. 

Target undertaking: The target undertaking provides integrated physical payment services to retailers in Namibia and provides Pax Point of Sale (PoS) payment hardware devices to banks in Namibia.

Relevant market: The Secretariat defined the relevant product market as the market for merchant acquiring activities.

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.