Bulging coffers at Namport

NAMPORT has paid dividends worth N$15 million to government, their sole shareholder, for the 2006/7 financial year. Presenting Minister of Finance Saara Kuugongelwa-Amadhila with the cheque, Namport Managing Director Sebby Kankondi said the dividend is a culmination of hard work, good strategy, ruthless execution of the port’s business plan and the relentless pursuit of goals.

He added that Namport will embark on an aggressive expansion of port superstructure and infrastructure, deepening the approaching channel and invest in the latest technology for maximum efficiency in facilitating trade between different modes of transport. “Our main focus will remain on the interaction of cargo between sea and land, particularly on containerisation, as we are now convinced that that is where an intrinsic and strategic value of our business lies,” Kankondi said.

He said the company has made significant inroads in transforming the port at Walvis Bay into a regional hub-and-spoke sea freight system. It has attracted exceptional volume growth which translated into excellent revenue, high profitability and financial returns. In addition, more than 600 direct employment opportunities have been created at group level.

A visit to Namport will show that the two floating docks are fully occupied by foreign vessels, as well as oil drilling platforms from abroad undergoing marine engineering services, Kankondi said. “These foreign marine infrastructure could not be repaired in Namibia if Namport did not create a PPP in the form of Elgin Brown & Hammer Namibia (EBH).

EBH is a joint venture between Namport and EBH-SA, a strategic alliance that is amied at exploiting Namibia’s proximity to the large oilfields in West Africa,” he explained. According to Kankondi EGH will have a turnover of more than N$150 million this year. He reminded the Minister that Namport will continue to pursue its goals with confidence, determination and with a disregard for obstacles.