NAC declares first dividend in 20 years

Staff Writer

The Namibia Airports Company (NAC) made a gross profit of N$23 million leading to the declaration of a dividend of N$7.7 million to the government, marking its first dividend payment in 20 years and the highest since the company was established.

The dividend was declared at the company’s Annual General Meeting held on Friday, 30 October, at the ministry of works and transport headquarters in Windhoek.

NAC board chairperson Rosalinde Nakale said the company recorded a net profit of N$23 million, of which approximately one-third was declared as a dividend to its shareholder, the government.

She said the declaration was approved by the shareholder representative in line with the company’s dividend policy.

Minister of works and transport Veikko Nekundi welcomed the N$7.7 million payment on behalf of the government and the State Treasury.

Nekundi said the dividend demonstrated that state-owned enterprises could operate commercially, fulfil their mandates and contribute to government revenue rather than relying solely on state bailouts.

He commended NAC’s board, management and employees for the achievement, saying the payment would contribute to government resources for public services and infrastructure.

The minister said the funds would support the government’s broader responsibilities, including the provision of roads, schools, health facilities, medicines and other essential services.

The ministry of works and transport said the dividend marked a milestone for NAC and encouraged the company to build on the achievement in the coming years.