Namibia's Minister of Industries, Mines and Energy has overturned a decision blocking Whale Rock Cement's proposed acquisition of Ohorongo Cement, paving the way for the merger of the country's two cement producers.
The decision reverses a 2025 ruling by the Namibian Competition Commission, which had rejected the transaction on competition and employment grounds. The minister approved the deal subject to conditions including no job losses, ongoing regulatory monitoring of the merged company and the retention of Cheetah Cement's plant as a productive facility.
Cheetah Cement said it has suspended plans to retrench 87 employees following the minister's decision. The company had begun consultations on redundancies earlier this year, citing financial pressures resulting from export restrictions and the failed merger.
According to Cheetah Cement, both producers have been operating at around 50 per cent of capacity after neighbouring countries restricted cement imports. The company said consolidating production at Ohorongo's plant would improve utilisation and restore the business's long-term viability.
