BEE investment company lists on the local bourse

A NEW investment company, Stimulus Investments Limited, was listed on the Namibia Stock Exchange yesterday with preferential shares worth more than N$123 million.

Stimulus, an empowerment private equity investor was registered in October this year in order to capitalise on private equity and empowerment opportunities in the local market. The two initial promoters of this idea were pointBreak Equity and stock brokers Irwin, Jacobs, Greene (IJG) who jointly own a minority 49 per cent shareholding in Stimulus.IJG Corporate Finance, a subsidiary of IJG holds 24,5 per cent of Stimulus and is an original promoter of Stimulus and the idea of a dedicated private equity investment vehicle in Namibia.Stimulus will be focussing on acquiring stakes in established, high cash-yielding businesses in Namibia which require empowerment credentials, and at the same time targeting more traditional private equity ventures in promising businesses.Recently cabinet gave approval to the Ministry of Finance to introduce a number of policy recommendations in the Domestic Asset Requirements.These included the reduction of the percentage of investments in dual-listed companies that qualify as domestic investments to 10 per cent over five years, while all institutional investors would be required to invest a five per cent minimum in unlisted Namibian companies.The two initial promoters of this idea were pointBreak Equity and stock brokers Irwin, Jacobs, Greene (IJG) who jointly own a minority 49 per cent shareholding in Stimulus.IJG Corporate Finance, a subsidiary of IJG holds 24,5 per cent of Stimulus and is an original promoter of Stimulus and the idea of a dedicated private equity investment vehicle in Namibia.Stimulus will be focussing on acquiring stakes in established, high cash-yielding businesses in Namibia which require empowerment credentials, and at the same time targeting more traditional private equity ventures in promising businesses.Recently cabinet gave approval to the Ministry of Finance to introduce a number of policy recommendations in the Domestic Asset Requirements.These included the reduction of the percentage of investments in dual-listed companies that qualify as domestic investments to 10 per cent over five years, while all institutional investors would be required to invest a five per cent minimum in unlisted Namibian companies.