Nam-Mic now debt free

10 Mar 2016 12:20pm
WINDHOEK, 10 MAR (NAMPA) – Nam-Mic Financial Services Holdings (NFSH) paid off its debt of about N.dollars 20 million to Bank Windhoek in September 2015.
Chief Executive Offer of NFSH, Walter Don revealed this to Nampa on the sidelines of the launch of NFSH' s Social Investment Fund on Wednesday.
“We are a debt-free company since last year,” he said.
NFSH was established in 2001 to allow previously disadvantaged Namibians to participate in the financial services sector.
A third of its shares are owned by the trade unions affiliated to the National Union of Namibian Workers (NUNW).
Bank Windhoek Holdings holds 9.5 per cent shares, Santam Namibia owns 12.6 per cent, and Sanlam Namibia has a 16.4 per cent shareholding.
Don noted that the company's total investment toward the three shareholdiers has increased from N.dollars 150 million to N.dollars 1 billion this year.
He said the company has increased its dividends towards its shareholders to N.dollars 33 million and the net asset value also increased by 25.6 per cent, which is equivalent to N.dollars 520,9 million, in 2015.
“We are very proud to grow our economy and plough back to the workers,” Don said.
Launching the NFSH's Social Investment Fund on Wednesday, Chairperson of the Board of Directors John Shaetonhodi confirmed that the company has paid a huge amount of money in dividends towards its shareholders during the past years of its existence.
“We succeeded in penetrating the sector worth more than a N.dollars 1 billion. This is a great achievement,” Shaetonhodi said.
He said the company has been driven by a great vision of empowering the end-beneficiaries such as union members and the wider society.