As part of its ongoing commitment to enhancing the domestic economy, the Namibia Grape Company (NGC) handed over its first-ever dividend payout of N$10 million to its shareholder, the National Youth Service (NYS). The handover ceremony took place yesterday at Hilton Hotel in Windhoek.
Yesterday’s N$10 million dividend brings to a total of N$18 million the NCG’s expenditure when combined with the annual farm leasing fee of N$8 million.
At yesterday’s event, NCG board chairperson Richwell Lukonga noted that the NCG has renegotiated its agreement with the farm owner, Capespan, to establish a commercial partnership.
“The purpose of the renegotiation was to ensure that NGC fully participates in the business, rather than merely leasing the farm to Capespan. The new service agreement establishes a commercial partnership in which NGC holds a 51% interest, while Capespan holds 49%.
Capespan is a leading integrated and diversified fruit grower, packer and distributor of fresh fruit across the globe.
He highlighted that the Namibia Grape Company is one of the largest grape producers in the Aussenkehr Valley.
“Over the years, the company has experienced significant growth, marked by the expansion of its production areas and replacement of older cultivars, which has led to improved harvests,” he said.
During the 2024 financial year, the company performed exceptionally well, packing over two million cartons. Undoubtedly, NGC’s growth and performance have contributed to the domestic economy, with 548 containers shipped through the Port of Walvis Bay during the 2024 to 2025 season. This represents a 43% increase from the 2023 to 2024 season. Additionally, the company employs over 1 200 Namibians during the peak season.
National Youth Service (NYS) board chairperson Emmerentia Leonard said the NYS dividends play a pivotal role in advancing the delivery of its mandate in meaningful ways, as it supports the NYS’ goal of producing skilled, employable, and entrepreneurial youth by reinvesting the dividends into increasing youth intake in its programmes and upgrading training facilities.
“For the first time, NYS will increase the number of recruits to 1 000 youth for its 16th intake, up from the 750 trained in the previous year. Additionally, a portion of this dividend will be allocated to agricultural production to acquire centre pivots to maximise production for self-sustainability and contribute towards food security. The agricultural investments will, in turn, create employment, internship opportunities, and Work Integrated Learning (WIL) placements for NYS trainees as well as students from other institutions,” said Leonard.
Moreover, youth empowerment and agriculture are at the core of the new administration’s priorities. As such, the receipt of this dividend could not have come at a more opportune time.
–pmukokobi@nepc.com.na
Photo: Heather Erdmann