More than 50 mergers and acquisitions were concluded in Botswana last year, authorities at the Competition and Consumer Authority (CCA) have revealed.
Tebelelo Pule, chief executive officer of CCA, said Wednesday that the authority handled 56 mergers in the financial year 2019/20 compared to 31 in the previous financial year.
“Out of the 56 mergers that were handled, 54 were finalized and the remaining two were not finalized on the basis of them not meeting the notification thresholds,” said Pule, adding that no mergers received and assessed in the 2019/20 financial year were prohibited or declined.
So far more than 300 mergers have been handled by the Authority since inception, to ensure product innovation, industrial growth, competitive pricing of goods and services, quality goods, consumer welfare and general expansion of markets, through the assessment of mergers and acquisitions, said Pule.
Despite abrupt COVID-19 pandemic interruptions, CCA has removed a number of competition impediments on the local market and significantly reduced turnaround time for mergers transactions.
“We believe this will be a shot in the arm for the business community. The merger cases handled have increased by over 80 percent compared to last year’s case load,” said Pule. Enditem