Trust set up
Hangala Group (Pty) Ltd, a diversified holding company wholly-owned and controlled by Namibians, has established of a trust to hold shares in the company for the benefit of the company’s employees.
The Hangala Group Employee Benefit Trust (HGEBT) will hold 10% of the company’s ordinary shares for the benefit of employees who have been with the company for three years or longer. From those employees, three were elected by their fellow beneficiaries to serve as HGEBT Trustees, representing executive management, middle management and other staff respectively.
Hangala Group has interests in construction, financial services, agriculture and property development.
In construction, through its affiliate NMC Construction, Hangala Group has been involved in development projects such as the SABMiller Brewery in Okahandja, the Gwashamba Mall in Ondangwa, the Shoprite Centre in Keetmanshoop, the Town Lodge in Windhoek and Gwashamba Mall in Ondangwa.
In the financial services sector, Hangala Group has partnered with Prescient Holdings, an investment house with a global reach based in Cape Town. HangalaPrescient currently has N$2.2 billion in local assets under management and another N$500 million earmarked for infrastructure financing in Namibia.
Hangala Foods pursues operating investments in food production, processing and distribution. Hangala Properties has been involved in residential and commercial developments in Otavi and Windhoek. Hangala Group also holds a 30% stake in Hertz Namibia, as well 20% stake in Conco Namibia.
“Our employees are at the heart of all the value we create in and for Namibia, and it is only fair that they should hold a stake in that value beyond their regular remuneration,” said the executive chairman of Hangala Group, Leake Hangala.