Maihapa Ndjavera

WINDHOEK – NamPower has declared a dividend of N$60.7 million to its shareholder, the government yesterday. The dividend was approved at the electricity utility’s most recent annual general meeting where the NamPower board of directors decided to declare the dividend for the financial year ended June 30, 2018.

Kauna Ndilula, chairperson of the NamPower board of directors presented the dividend cheque to government as represented by Minister of Mines and Energy, Tom Alweendo. When receiving the cheque, Alweendo said he is always happy when a state-owned enterprise makes a return on its investment and encouraged other public enterprises to follow the example. However, Alweendo emphasised that the most important aspect of any public enterprise is service delivery to the people.

Alweendo added that electricity is not like any commodity because it is a crucial input into the entire production system, not only for the private sector but equally for the consumers. Therefore, he said, NamPower sells something that is much more than just a service and he encouraged the utility to interrogate the efficiency with which they deliver services to the people.   

Meanwhile, NamPower’s Ndilula stated that as a commercial state-owned enterprise, the company subscribes to the principles of performance and good governance. “We also believe that government, like any other shareholder should achieve both financial and social rewards from the investment they hold. It is thus our pleasure to present the evidence of our financial performance through this dividend.”

Ndilula added that they trust that the dividend will make a meaningful, albeit small, contribution to the national treasury and help restore confidence in the shareholder.