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NamPower declares a dividend of N$60.7 million, set the bar for other state-owned enterprises

NamPower declares a dividend of N$60.7 million, set the bar for other state-owned enterprises

The government received a welcome financial contribution this week in the form of a hefty N$60.7 million dividend from its parastatal, NamPower.

Board chairperson, Kaunapaua Ndilula presented the line minister, Hon Tom Alweendo, with the dividend cheque on Monday 03 December 2018.

Ndilula said the power corporation has approved at its recent Annual General Meeting that the board be advised to approve the dividend.

As a commercial state-owned enterprise, we subscribe to the principles of performance and good governance. We also believe that the government, like any other shareholder, should achieve both financial and social rewards from the investments they hold,” Ndilula said.

The company’s board expressed their hope that the dividend will make a meaningful contribution to the national treasury and help restore confidence with the shareholder about the contribution of commercial state-owned enterprises in the country’s economic sphere.

Caption: Mines and Energy Minister Hon Tom Alweendo (third from right) with the NamPower Board of Directors at a ceremony where the minister received a considerable dividend from NamPower on behalf of the government.

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