NKURENKURU - The Nkurenkuru town council has been given the green light to go ahead and enter into a land development agreement with the Development Bank of Namibia (DBN), which will see over 300 erven being serviced at the Kavango West town.
“We have been granted the approval to go ahead with the joint venture with DBN. We received the letter on the 15th of this month. Nkurenkuru Extension 6 is what we have planned to service through this agreement. We want it fully serviced and we are looking at 333 erven, some of this erven will be residential, institutional and business,” said town CEO Petrus Sindimba.
In terms of the joint venture, Nkurenkuru will avail unserviced land, while DBN will provide funds to put up services such as water, roads, electricity, sewer and pump stations. After servicing the land, DBN and Nkurenkuru will sell the plots and share the profit after DBN has recouped its development costs.
According to Sindimba, In terms of profit sharing, Nkurenkuru will get 70 percent while DBN will get 30 percent.
Initially, the two entities were to enter into a Private-Public Partnership (PPP) but were at some point advised by the line ministry to go into a joint venture instead.
“This to us is going to be an urgent project as the need for serviced land is high in our town and as council we need to deliver land to those residents and businesses in need. We have also notified DBN on the progress so that we look into the arrangements to sign our agreement as soon as we possibly can so that work can start without wasting time,” he added.
“Institutions are coming to the town but the town is unable to offer them land where they can establish themselves. People migrating to Nkurenkuru due to employment and business are in dire need of serviced land on which to build.”
2019-10-23 06:51:49 | 10 months ago