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Clover to list on NSX?

Clover’s intended listing on the Namibia Stock Exchange was most certainly a welcome for the individuals who actively manage the bourse.

If I was the managing director, the fact that I have been part of three dual listings and enabled local fund managers to access exchange traded funds outside of South Africa, I would be proud of myself and the progress the exchange has made in my tenure.
The listing of these entities has no doubt helped in raising the profile of the Namibia Stock Exchange and despite the fact that its illiquid, its the second highest capitalised stock market on the continent. Is there not anything wrong with that? What the reason may be I do not know.
Brings me to ask, Clover to list on the NSX? What constitutes a Clover listing on the Namibia Stock Exchange. How significant is the Namibian consumer market for Clover to go to the effort of effecting a listing and if the rest of Africa is on the agenda why not Nigeria, Kenya, Angola or even Ghana? Is this a means to conveniently sneak in through the back door, establish a distribution centre in Okahandja and bring dairy products through by the truckload through Ariemsvlei onto Oshikango and through to Santa Clara and beyond. After chief executive of Clover, Johann Vorster had rung the bell to symbolise Clover’s entry on the NSX, I managed to sit down for a brief moment and discuss what appeared to be a genuine desire to help develop the local dairy industry. Do bear in mind that local milk producer Namibia Dairies has since applied for Infant Industry protection while Sydney Martin could not be bothered as he yet again disrupts the proceedings at the Namibia Football Association because African Stars’ premiership aspirations supersedes his milk interests.
Anyway I asked Vorster if Angola was not on the horizon and whether Namibia was merely a back door. A very straight faced Vorster reacted why not while explaining how it could benefit Namibia. All the better if Namibia could export he explained. More and more as we spoke Vorster kept coming back to what their intentions were and how he believed this could benefit the economy and more importantly the consumer.
Clover’s willingness to work with local farmers, willingness on its part to work with local producers and team up in the fields of research and development. Can we just imagine the possibilities, an enhanced product range, enhanced capacity throughout the distribution chain, heck Namibia Dairy could quite possibly also start exporting to selected markets in South Africa, Botswana and parts of Angola if a network has already not been set up.
While I initially viewed the dual listing with distrust, after speaking to Vorster I have warmed up to the idea of a Clover listing. After all, we are in it for the long haul said Vorster who appeared to be relishing in the challenge and keen to get the ball rolling already.
While local analysts and stock brokers are elated at the recent listing (Regulation 28), I am more excited about the fact here is a company that will use its own funds to grow locally, perhaps build that production facility and acquire a dairy farm, employ a couple of hundred locals who make a meaningful contribution, and would be more then willing to train locals amongst others.
Despite Clover’s dual-listing, our bias should remain toward locally manufactured products. Clover has to prove themselves after all.

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