!Gawaxab knowingly broke the law: NEFF

• By Veronica Amaral & Allexer Namundjembo

NEFF said it is disappointed that the Bank of Namibia governor Johannes !Gawaxab admitted contravening
the Competition Act 2 of 2023. !Gawaxab admitted selling his 55 per cent shareholding in Gamma Investments cc to Ismael Gei-Khoibeb on June 10, 2020.

The Competition Commission says the transaction amounted to a merger defined and regulated by the Act, since it resulted in Gei-Khoibeb acquiring the majority of the members’ interest in Gama Investments.

The Competition Commission says !Gawaxab and Gei-Khoibeb contravened section 44 read with sections 51 and 53 of the Act.

!Gawaxab claims that he was given short notice of the appointment to the position of governor of the reserve bank and the period
within which the first respondent was expected to dispose of his interest in Gamma Investments, which comply with section 25 of the BoN Act.

For more on this and other stories; grab a copy of the Newspaper