FirstRand Namibia executive Andrew Kanime has been appointed as Namport CEO, New Era understands.
Kanime leaves FirstRand where he has been serving as chief human resources officer to take up the helm at one of the most core and strategic state-owned enterprises in the country.
Kanime will take over from former Namport CEO, Bisey /Uirab, who now heads the Namibia Airports Company.
While no official confirmation has been received, New Era has seen an internal FirstRand memo announcing the appointment. “We are very proud to announce that one of our FirstRand executives, Andrew Kanime, was chosen by Cabinet to take over the reins of Namport,” reads FirstRand’s announcement.
Namport’s substantive finance executive Kavin Harry has been acting CEO since May last year.
During the 2019/20 financial year Namport managed to handle 1 million tonnes of cargo which was carried along the country’s transport corridors. In addition, the ports of Walvis Bay and Lüderitz also recorded more than 5.5 million tonnes of cargo during this time.
Namport executives noted that the largest portion of growth was reflected by the 100% increased activity along the Trans-Oranje Corridor as over 200 000 tonnes of manganese ore was exported via the port of Lüderitz.
Furthermore, earlier this year the international rating agency, Fitch Ratings, upgraded Namport’s national long-term rating ‘AAA’ with a stable outlook. “We view Namport’s status, ownership and control as strong due to the 100% government ownership and broad operational and financial oversight by the sovereign. We view the government’s support track record as very strong due to the historical financial contribution to Namport’s expansion plan as well as the government guarantee. We view the socio-political implications of default as strong as the port could continue to operate even after a financial or technical default. The financial implications of default would be strong, due in part to the guarantee,” the latest Fitch rating reads.
– ebrandt@nepc.com.na
Andrew Kanime