NamPort hands over its dividend

THE National Port Authority, NamPort, handed over a dividend of N$3,5 million on Tuesday to the Ministry of Finance through its line Ministry of Works, Transport and Communications.

Handing over the 35 per cent dividend of its just ended financial year, NamPort’s Board of Directors Chairman, Shakespare Masiza, said despite the ailing fishing industry which always made a great contribution to the institution’s revenue, NamPort performed well during its just ended 2004/5 financial year compared to the previous financial years. Masiza added that the institution dredged the floating dock site as well as both ports of Walvis Bay and Luederitz where it invested N$60 million in the private public partnership that will see that the shareholders’ wishes of increasing ship-repair capacity in Walvis Bay is realised in the first quarter of next year.”Our strategic initiative is focused on improving shareholder value, staying ahead of customer expectations, optimising the cost of doing business and reaching new markets while utilising technology to improve our processes and systems,” he said.Receiving the dividend, Works, Transport and Communication Minister Joel Kaapanda commended NamPort for the investment made during the 2004/5 financial year to boost the competitiveness of the ship-repair industry that can now service vessels that are heavier than 2 000 tonnes.Kaapanda said despite the declining revenue from the fishing sector, NamPort’s business plan for the just ended financial year reflects an optimistic projection of potential revenue increase from transit cargo and corridor association activities.”NamPort’s tireless and proactive advertising efforts to establish itself as a household name within Southern African region is starting to finally reap positive economic benefits,” Minister Kaapanda said, adding that this is a demonstration that the institution has the ability to meet its shareholder’s commitment.The minister expressed hope that the two ports, Walvis Bay and Luederitz, will continue to be managed with world-class efficiency to increasingly attract cargo as they are currently doing.He encouraged the management to continue striving towards maintaining the current ranking according to the African Competitiveness Report, that Walvis Bay and Luederitz Ports are among the most efficient ports of call within the southern Africa.He pledged his ministry’s political will and commitment to lobby with Namibia’s counterparts in the region and beyond to strengthen the current efforts to the Walvis Bay Corridor Group, adding that ports in the region as the first point of interface between land sea transport can play a catalytic role in reducing the high cost of transportation and the associated intermediary services.- NampaMasiza added that the institution dredged the floating dock site as well as both ports of Walvis Bay and Luederitz where it invested N$60 million in the private public partnership that will see that the shareholders’ wishes of increasing ship-repair capacity in Walvis Bay is realised in the first quarter of next year.”Our strategic initiative is focused on improving shareholder value, staying ahead of customer expectations, optimising the cost of doing business and reaching new markets while utilising technology to improve our processes and systems,” he said.Receiving the dividend, Works, Transport and Communication Minister Joel Kaapanda commended NamPort for the investment made during the 2004/5 financial year to boost the competitiveness of the ship-repair industry that can now service vessels that are heavier than 2 000 tonnes.Kaapanda said despite the declining revenue from the fishing sector, NamPort’s business plan for the just ended financial year reflects an optimistic projection of potential revenue increase from transit cargo and corridor association activities.”NamPort’s tireless and proactive advertising efforts to establish itself as a household name within Southern African region is starting to finally reap positive economic benefits,” Minister Kaapanda said, adding that this is a demonstration that the institution has the ability to meet its shareholder’s commitment.The minister expressed hope that the two ports, Walvis Bay and Luederitz, will continue to be managed with world-class efficiency to increasingly attract cargo as they are currently doing.He encouraged the management to continue striving towards maintaining the current ranking according to the African Competitiveness Report, that Walvis Bay and Luederitz Ports are among the most efficient ports of call within the southern Africa.He pledged his ministry’s political will and commitment to lobby with Namibia’s counterparts in the region and beyond to strengthen the current efforts to the Walvis Bay Corridor Group, adding that ports in the region as the first point of interface between land sea transport can play a catalytic role in reducing the high cost of transportation and the associated intermediary services.- Nampa