Public Hearing on the Proposed Acquisition of 28.73% Shareholding in Mmegi Investment Holdings (Pty) Ltd by Universal House (Pty) Ltd

Pursuant to section 58(1) of the Competition Act (Cap 46:09), the Competition Authority (“the Authority”) hereby invites members of the public to a hearing in relation to the proposed transaction which involves the intention by Universal House (Pty) Ltd (“Universal House”) to acquire 28.73% interest in Mmegi Investment Holdings (Pty) Ltd (“MIH”). Despite the transaction already having been implemented without notification, the Authority is empowered to retrospectively assess and make a determination to the concerned parties regarding this transaction. 

The hearing will be held at the Competition Authority offices on 20^th February 2017, at Plot 28, Matsitama Road, Gaborone at 09:00 hrs. The hearing will be held with each of the parties to the transaction and other interested parties, pursuant to section 58(3)(a) of the Competition Act. The hearing is intended to allow the parties to the transaction to make verbal representations to the Authority with respect to the transaction, as well as allow their competitors, interested parties and the public to express their views on the acquisition.

Furthermore, other interested parties not party to the proposed transaction will be afforded an opportunity to voluntarily submit to the Authority any document, affidavit, statement or other relevant information in respect of the proposed acquisition. Though not mandatory, it would be preferable for those attending to submit copies of what they intend to present to the Authority no later than 13^th February 2017.  

Universal House, the acquiring entity, is a company duly incorporated in accordance with the Laws of Botswana. The entity is a Special Purpose Vehicle formed particularly for this transaction and is wholly owned by Jamali Seyed Abolfazi. Jamali Seyed Abolfazi is a Motswana national with various business interests in Botswana, which are predominantly in property development.

MIH, the target entity, is a company duly incorporated in accordance with the Laws of Botswana. MIH’s business activities include printing, publishing and distribution of books, publications and newspapers. The main shareholders of MIH are: M. Leepile; T. Mbuya; Botswana Mine Workers Union; and Mmegi Publishing Trust. MIH is a holding company for the following entities: Dikgang Publishing Company - publishers of Mmegi Daily and the Monitor newspapers; CBET- publishers of the Botswana Guardian and the Midweek Sun newspapers; Mmegi Publishing House - specialists in the publication of textbooks mainly for the school market; BONESA Distribution Company; and Mmegi Broadcasting Corporation. MIH, through Mmegi Broadcasting Corporation has 18% shareholding in Your Friend (Pty) Ltd, an entity incorporated in Botswana and trading as Gabz Fm, a private radio station. The Directors of MIH are M. Leepile; T. Mbuya; E. Khan; E. Mukomeza; B.S Malele; B.E Badisang and J.S Tlhagale.

Any questions on the above-mentioned hearing may be directed to:-

Director, Mergers and Monopolies, The Competition Authority, P/Bag 00101, Gaborone, Plot 28, Matsitama Road, Tel: 3934278 Fax: 3121013

Email: magdeline.gabaraane@competitionauthority.co.bw