Namibia is the latest southern African country to amend its local competition laws to protect its industries, addressing loopholes which government believes make local businesses vulnerable to exploitation by international companies.
According to regional online news site, The Southern Times, Namibia’s minister of trade and industry, Calle Schlettwein, confirmed that Namibia was working to amend the Competition Act of 2003 which was signed into law by then president, Dr Sam Nujoma, on April 3, 2003.
Schlettwein was cited by the publication as saying that the objective was not to scare international investors away, but rather to level the playing field and remove unwanted practices.
“This is to enhance competition while at the same time ensuring that there are protective measures against unfair dominance,” he reportedly said.
The Tralac news centre reported that the draft was now with the Namibia Competition Commission (NaCC) and would be sent to Cabinet for approval soon.
Namibia makes moves to protect local industry
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