• October 23rd, 2018
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Vivo Energy and Hangala Properties break ground on N$136 million building

Business & Finance
Business & Finance

n Staff Reporter WINDHOEK - Vivo Energy Namibia and Hangala Properties (Pty) Ltd recently held a ground-breaking ceremony for the construction of Vivo House. Vivo Energy markets and distributes Shell branded fuel and lubricants. With construction scheduled to be completed in 18 months, Vivo House will be Vivo Energy Namibia and the Hangala Group’s new head office. The building, which will have office space, residential units and ample parking space, requires an investment of N$136 million and 300 jobs are expected to be created during construction. Speaking at the event, Vivo Energy’s Executive Vice-President for Eastern and Southern Africa, David Mureithi, explained Vivo Energy’s ambition in Namibia and said it was to take the strong Shell brand, and continues to strengthen it, by adding more investment to grow in Namibia and other markets where the company operates. Mureithi added: “We have continued to grow across the continent, starting with around 1 200 stations six years ago, to over 1 800 at the end of 2017. In Namibia, over the last five years, we have grown from 34 service stations, to 56 today. This is a demonstration of our commitment to invest.” “In that spirit, it became clear to us that we do not have a space we can call our own home in Namibia. This project gives us a true home,” Mureithi said. Johan Grobbelaar, Vivo Energy Namibia’s Managing Director, commended the Hangala Group for the excellent working relations between the parties and thanked the teams who brought the project to its current stage for the commencement of construction. Alfreda Stramis, Chief Financial Officer of Hangala Group and Managing Director of Hangala Capital, speaking on behalf of Dr Leake Hangala, Executive Chairman of the Hangala Group, said: “Hangala Group is a diversified company with interest in financial services, agribusiness and property development. Our slogan is ‘opportunities in partnerships’. We believe in the power of partnership and this project is a classic example of what a true partnership and empowerment can do.” Hangala Properties, a vehicle for property development for Hangala Group, is Vivo Energy’s 50-50 joint-venture partner in Havi Properties (Pty) Ltd. Havi Properties (Pty) Ltd. was incorporated in 2016, with the intent of developing a sectional scheme comprising of office units for commercial use and residential units. Once the development is completed, Havi Properties (Pty) Ltd will sell the residential units and lease a portion of the commercial units. Stramis concluded: “Havi Properties has assembled a team of competent and experienced professionals. We have no doubt that given the capabilities and experience of the team, we will at the end have a great product which will add value to the scenery and landscape of Windhoek.” Photo: Vivo Caption:
2018-05-21 10:26:24 5 months ago
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