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Billion plus dividends paid-out

Minister of Mines Isak Katali appears to be all smiles as Chief Executive of the Namibia Diamond Trading Company, Shihaleni Ndjaba, hands over a cheque totalling N$50 million while Chairperson of the NDTC Festus Mbandeka witnesses.

Minister of Mines Isak Katali appears to be all smiles as Chief Executive of the Namibia Diamond Trading Company, Shihaleni Ndjaba, hands over a cheque totalling N$50 million while Chairperson of the NDTC Festus Mbandeka witnesses.

Minister of Mines and Energy, Hon. Isak Katali received a generous dividend pay-out, from the Chief Executive Officer of the Namibia Diamond Trading Company (NDTC) Shihaleni Ndjaba, when the company handed over a cheque of N$50 million last week. Said Katali, “NDTC has been growing tremendously well, and this is demonstrated by the growing in the amount of dividends that is declared every year. Diamonds have become the biggest contributing mineral to the national economy through taxes and royalties paid.”
According to Katali, his ministry had received in excess of N$1.5 billion in the form of dividends since the formation of the Namibia Diamond Trading Company which was established in 2007.
He appealed to other state-owned enterprises under the ambit of the Ministry of Mines and Energy to emulate the example of the diamond company. Through its shareholding in Namdeb Holdings, Government holds a 50% stake in the company.

Said Ndjaba, “You would agree with me that eight years down the line NDTC has come to prove itself as a serious and valuable player through its contribution to the Namibian economy,” who was also proud to mention that the company had in the past handed out 13 dividend cheques to its shareholders De Beers and the government according to Ndjaba.
“The global economy is still not fully recovered, we remain optimistic and excited about the future of the Namibia diamond industry and will remain committed to fulfilling the mandate of extracting the maximum value from Namibian diamonds for Namibia.,” he added.

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