BEE partnership deal sealed

INVESTMENT House Namibia (IHN), registered stockbrokers on the local bourse, have sold 10 per cent of shares to One Namibia Investment Holdings in line with the black economic empowerment process.

The signing for the smart partnership was between INH director, Jeanne Davin and One Namibia Investment Holdings managing director, Isaac Kaulinge at a ceremony held in Windhoek. The partnership between the two companies marks a new chapter as it is the first of its kind in the local stockbrocking and private client wealth management sectors.Kaulinge said efforts by negotiating teams had “culminated in the acquisition of shares on an incremental scale of 10 per cent initially and peaking at 25 per cent coupled with realisable growth in business volumes”.He also described the smart partnership between the two enterprises as a historic milestone for corporate Namibia, adding it also gave concrete meaning to Vision 2030.”We commit ourselves to working closely with our new partners in order to generate optimal revenues and diversified business, such that our smart partnership may grow and harness all possible synergies to maximise profits.”Our social responsibility will focus on education and human capital investment to redress the prevailing skills deficit in Namibia,” said Kaulinge.Davin said negotiations started last year after Kaulinge approached IHN, and that IHN was happy about its partnership with ONIH and “we believe that together with One Namibia Investment Holdings we can grow our business into a market leader”.The deal also means that ONIH will have two members on the IHN board of directors, and two members on its executive committee, although the positions will be non-executive.IHN is a member of the Johannesburg Stock Exchange listed PSG Group, with local management as an equity partner.The company’s Windhoek office has been operational for 20 years, servicing the local market with a range of services, which include wealth management, stock brocking and offshore investments.The partnership between the two companies marks a new chapter as it is the first of its kind in the local stockbrocking and private client wealth management sectors.Kaulinge said efforts by negotiating teams had “culminated in the acquisition of shares on an incremental scale of 10 per cent initially and peaking at 25 per cent coupled with realisable growth in business volumes”.He also described the smart partnership between the two enterprises as a historic milestone for corporate Namibia, adding it also gave concrete meaning to Vision 2030.”We commit ourselves to working closely with our new partners in order to generate optimal revenues and diversified business, such that our smart partnership may grow and harness all possible synergies to maximise profits.”Our social responsibility will focus on education and human capital investment to redress the prevailing skills deficit in Namibia,” said Kaulinge.Davin said negotiations started last year after Kaulinge approached IHN, and that IHN was happy about its partnership with ONIH and “we believe that together with One Namibia Investment Holdings we can grow our business into a market leader”.The deal also means that ONIH will have two members on the IHN board of directors, and two members on its executive committee, although the positions will be non-executive.IHN is a member of the Johannesburg Stock Exchange listed PSG Group, with local management as an equity partner.The company’s Windhoek office has been operational for 20 years, servicing the local market with a range of services, which include wealth management, stock brocking and offshore investments.