Legal disputes arise over Namibian cement merger and JSE regulatory censure

In Namibia, the High Court is set to hear a lawsuit against Minister of Industries, Mines and Energy Modestus Amutse. The Gauteng-based company iTe Products alleges that Amutse erred in approving a merger between Whale Rock Cement and Schwenk Namibia, the majority owner of Ohorongo Cement.

iTe Products, a major customer of Ohorongo, argues the merger would create a monopoly and threaten employment. While the Namibian Competition Commission (NaCC) previously blocked the deal due to monopoly risks, Amutse overturned that decision in June, stating that concerns could be addressed through specific merger conditions. iTe Products contends that the Minister’s decision was based on the false assertion that no objections had been received.

Separately, in South Africa, the Financial Services Tribunal has dismissed an application by Mantengu to overturn a public censure from the Johannesburg Stock Exchange (JSE). The dispute arose after Mantengu failed to promptly disclose a breach of confidentiality regarding a price-sensitive acquisition proposal in 2023. The tribunal upheld the JSE’s March 2026 censure, affirming the exchange's regulatory authority regarding disclosure obligations.