Bank of Namibia Governor Johannes !Gawaxab says that EOS Capital, himself, and the Namibia Competitions Commission (NaCC) reached an agreement to ensure compliance with the set regulatory regulations.

However, the Central Bank Governor pointed out that the agreement is not an admission of guilt but a pragmatic solution to avoid prolonged legal proceedings. 

!Gawaxab was responding to a Namibian Competition Commission (NaCC) decision to fine him, together with two other parties, N$1 million for contravening merger regulations.

A statement by Eljota Investments said that before !Gawaxab was appointed Central Bank Governor, he managed and owned various private companies, including Eos Capital, adding that he took proactive steps to divest his interest in these companies, including Eos Capital, to avoid any potential conflict of interest when becoming Governor. 

The statement added that these processes are complex and time-consuming, and due to the urgent nature of his appointment, there was insufficient time to complete all the customary valuation processes, including notifying the NACC of the sale of shares in Eos Capital. 

It further stated that the governor took reasonable steps to mitigate any potential conflict of interest that would have arisen due to his active involvement in the private sector.

The statement added that !Gawaxab demonstrated a dedication to upholding the highest ethical standards throughout his career, and his actions in this matter reflect this commitment.