New management to make TransNamib railway profitable – board
TransNamib board of directors chairperson Paul Smit recently said that running TransNamib unprofitably and contrary to well-established business principles cannot continue, and has to change starting with the appointment of an a new CEO.
The board has made special resolutions to implement its business plan with immediate effect, and appoint a new CEO as soon as possible, while other new senior executives will also be appointed in the near future.
The national rail operator recently received six new locomotives from the Brazilian offshoot of US firm GE at a cost of N$360 million, plus 90 tanker wagons for N$132 million, as it continues to upgrade its rolling stock, which will be used to transport sulphuric acid between Tsumeb and Walvis Bay for export under a ten-year contract with Dundee Precious Metals.
TransNamib acting CEO Hippy Tjivikua said that the funding for all locomotives and acid tankers was made possible by government, and it should be noted that the integrity of the procurement of this equipment was done above board and transparently, without state capture.
In the long run, the government is keen to integrate its economy more closely with its neighbours by turning Walvis Bay into an entrepôt for southern Africa. Together with port operator Namport and other stakeholders, it is in the process of improving road and rail links to the port from the rest of the Southern African Development Community (SADC).