Africa-Press – Eswatini. Eswatini Competition Commission has approved 20 mergers during the 2020/2021 financial year. The sectors in which the mergers were given the green included, but not limited to, pharmacies, fast moving consumer goods, commercial property and farmland, supply of building material, insurance and manufacturing of precast concrete products.
The commission, led by Muzi Dlamini as Chief Executive Officer (CEO), disclosed that they anticipate that by the end of the financial year in April, 27 mergers would have been completed.
This effectively means seven mergers are pending. Dlamini noted that although the Eswatini economy was projected to grow moderately in 2022, the level of business confidence when assessed by sustained merger and acquisition activity suggested continued optimism on progress in appropriate policy formulation.
The commission examines merger notifications in order to make a determination on the effects of such transactions on competition and then either gives conditional approval, approval with conditions or prohibits the transactions based on the outcome of the analysis.
This function is supported by Section 35 of the Act and Competition Commission Regulations Notice, 2010 as well as internal and external merger guidelines.
Notable mergers which got the nod during the third quarter included, acquisition by Tibiyo Insurance Group of Fingroup Swaziland (Pty) Ltd, acquisition by NTT Heidelberg (Pty) Ltd of the entire shareholding of Siyembili Motors Swaziland (Pty) Ltd, which trades as Leites Toyota, and acquisition of assets by Swazi Bandag (Pty) Ltd from Swaziland Tyre Services (Pty) Ltd.
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