TransNamib is one of the State Owned Enterprises, under the oversight of the Ministry of Works and Transport and Ministry of Public Enterprises, established in term of the National Transport Services Company Act, 1998 (Act Number 28 of 1998), to provide and promote transport services in Namibia and elsewhere, by managing, developing and utilizing resources and assets at its disposal. The properties profile has various categories, namely, commercial, industrial, operational and residential.
On 7 February this year, Hon. John Mutorwa Minister of Works and Transport (MWT) officially launched the Integrated Business Strategic Plan (ISBP) 2018/2019 – 2022/23, approved by Cabinet in December 2018. Cabinet approved the leveraging and sale of TransNamib’s non-core unencumbered properties to generate funds for the operational and capital expenditure plan. Cabinet also directed that first priority should be given to State-Owned Enterprises (SOE’s) when TransNamib sells off its non-core properties.
- TransNamib had its portfolio of properties in the country valued at N$2.4 billion as at 31 March 2018. The next step in the process is to evaluate all the registered properties with the final output being incorporated into the property strategy.
- Part of this business plan allows TransNamib to sell some of its non-core properties in order to support the growth in the business plan for the next five years.
- To date, TransNamib is still in the process to look at various options. We have therefore not made any recommendations on if any property will be sold and which process will be followed to use the Properties as a support for the development of our business plan.
ISSUED BY THE CORPORATE & PUBLIC AFFAIRS.
Contact Person: Ms. Ailly Hangula-Paulino
Chief Corporate Communications Officer
Tel: + 264 – 61 – 298 2178 / Cell: 0811228440 firstname.lastname@example.org