Competitions commission collects N$13,1m in penalties

The Namibian Competition Commission (NaCC) has collected N$13,1 million in pecuniary penalties from entities found in contravention of the Namibian Competition Act.

According to a statement issued by the commission, the penalties were collected between 1 August 2022 and 31 December 2023.

These penalties have been transferred into the State Revenue Fund.

“In compliance with our mandate outlined in the act, we have rigorously pursued and penalised entities violating competition regulations,” says NaCC spokesperson Dina //Gowases.

Among the reasons cited for the penalties are restrictive agreements between various insurance companies and windscreen retailers.

“The commission’s investigation revealed that the parties had engaged in anti-competitive agreements, compromising fair market practices,” says //Gowases.

She says the commission uncovered collusive practices between various insurance companies regarding panel beating services, which further undermines competition in the sector.

“These penalties underscore our commitment to safeguarding and promoting fair competition within the Namibian economy,” says //Gowases.

She says NaCC, acting as a regulatory body, investigates potential violations of the act and has the authority to initiate legal proceedings in the High Court, requesting pecuniary penalties against offending undertakings.

“Our efforts extend beyond punitive measures; we strive to foster an environment where businesses compete ethically and consumers benefit from fair market practices,” says //Gowases.

“Through rigorous enforcement and public awareness initiatives, we aim to maintain a level playing field for all participants in Namibia’s economic landscape,” she says.