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More Africa NewsNamibia: Presidential Economic Panel Recommends Partial Sale of NamPost and Telecom Namibia

March 16, 2020by myles0

Namibia Post (NamPost), the Namibian state-owned company that provides postal services in Namibia, and Telecom Namibia, the incumbent telecommunications operator, are included in the list of 22 public companies that the presidential panel High Level on the Economy recommends the government to partially privatize. On March 11, 2020, the body set up in April 2019 by the President of the Republic, Hage Geingob, to revitalize the national economy, published its evaluation report.

NamPost and Telecom Namibia, despite having relatively good financial health, lack the commercial ferocity capable of ensuring the state of increasing financial gains on which to count to support socioeconomic development. By partially privatizing, the presidential panel is certain that the government will win threefold. First of all, the money from the sale of part of the companies, the money from activities boosted by the private partner, the reduction in investment capital, since it is shared with the co-shareholder.

Another public company on which the presidential panel ruled is Mobile Telecommunications Limited (MTC). The body has given its approval for the mobile operator, whose state has regained control through the acquisition of 34% of shares in Portugal Telecom, to be listed on the Namibian Stock Exchange.

Source: Agence Ecofin

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