Namibia Sets Aside 1 Bln USD For Power

Namibia has set aside 15 billion Namibian dollars (about 1 billion U.S. dollars) to create generation and supply power in Namibia, the power utility said on Thursday

WINDHOEK, (APP - UrduPoint / Pakistan Point News - 12th Dec, 2019 ) :Namibia has set aside 15 billion Namibian Dollars (about 1 billion U.S. dollars) to create generation and supply power in Namibia, the power utility said on Thursday .

Speaking at a dividend handover, NamPower board chairperson Kauna Ndilula said the above forms part of the power projects the utility set in place.

Moreover, she said NamPower declared dividends of roughly 82 billion Namibian dollars (5.6 billion U.S. dollars), an increase from the 62 billion Namibian dollars (4.2 billion U.S. dollars).

"The dividend declaration reflects hard work, high performance and good governance values applied by the men and women that make up the employees of NamPower and as guided by the board, " she said.

The Namibian Minister of Mines and Energy Tom Alweendo thanked the board for the dividend handover despite the tough economic climate.