The Namibia Competition Commission (NaCC), has confirmed imposing a
N$1 million fine, on Bank of Namibia governor Johannes !Gawaxab,
Ismael Gei-Khoibeb, and Gamma Investments, for implementing a merger
without the commission’s approval.
This comes after The Issue reported that !Gawaxab is facing
allegations that he sold businesses, and shareholdings, in a major
insurance company, to family and friends.
This is despite declaring he had sold such interests, to what he
termed ‘unrelated parties’.
NaCC spokesperson, Dina //Gowases, says !Gawaxab and others entered
into a settlement agreement, following the commission’s investigation,
which found that the parties have contravened the Competition Act of
2003, for implementing a merger, without the approval of the
commission.
Now, the Namibia Economic Freedom Fighters, has called on President
Mbumba to fire the governor, highlighting that he should have
resigned, after admitting to the white collar crime.