NaCC imposes conditions on Etango uranium merger

Allexer Namundjembo

The Namibian Competition Commission (NaCC) has approved the proposed merger between CNNC Overseas Ltd (CNOL) and Bannerman UK (BMN UK), but attached stringent conditions designed to safeguard employment, promote localisation, strengthen skills development, and ensure greater participation of Namibians in the country’s uranium industry.

The approval, published under Notice No. 504 in Government Gazette No. 8972 dated 8 July 2026, forms part of 11 merger determinations issued by the Commission.

While most of the mergers were approved without conditions, the Etango Uranium Project transaction attracted extensive public interest requirements because of its potential impact on employment and Namibia’s mining sector.

According to the gazette, the Commission found that the proposed transaction was unlikely to prevent or lessen competition, as it involves the acquisition of a minority and/or controlling interest in a development-stage uranium project that is not yet operational.