Minister approves Ohorongo-Cheetah merger … in a deal that reshapes ownership of local cement sector

The long-running battle over the future of Namibia’s cement industry has taken a dramatic turn after the Minister of Industries, Mines and Energy, Modestus Amutse, overturned the Namibia Competition Commission’s (NaCC) decision to block the merger between Whale Rock Cement, the owner of Cheetah Cement, and Schwenk Namibia, the majority shareholder in Ohorongo Cement.

The ministerial decision effectively clears the way for one of the most significant corporate consolidations in Namibia’s manufacturing sector, while imposing strict conditions aimed at protecting jobs, preventing monopolistic abuse and increasing local ownership.

Perhaps the most immediate consequence is the suspension of the retrenchment process that threatened nearly 90 jobs at Cheetah Cement after the approval of the merger that has been among Namibia’s most contentious competition cases.

Whale Rock Cement spokesperson Tabby Moyo confirmed the company has halted all planned retrenchments following the gazetted approval.