Business Briefs

Friday 10th of September 2004
Brigitte Weidlich

PowerCom makes its position clear

The recent bidding for a second cellular telephone licence only attracted two companies, PowerCom and a Chinese bidder. PowerCom (Pty) Ltd is a consortium that was established in anticipation of the opening of the cellular phone market. In view of recent media reports and the queries about its application for the second mobile telephone license, PowerCom clarified its position in the mobile telecommunications industry. The consortium membership consists of a 51% Namibian ownership. The local partners are the Namibia Mineworkers’ Investment Holding Company (NAMIC) through Zeven Investments, NamPower, and Old Mutual Namibia, the company said in a press release. Telecom Management Partner (TMP) of Norway is the foreign shareholder in PowerCom with 49%. TMP is a fully owned subsidiary of Telenor, a company listed at the Oslo stock exchange and the Norwegian government holds 63% of the shares

Dr Leake Hangala, Managing Director of NamPower said because of convergence of technology, electricity utilities the world over have ventured in telecommunications sector and NamPower was no exception.

"For NamPower this is a strategic investment opportunity from which we want to derive value. TMP being the strategic lead partner will manage the day-to-day operations. NamPower’s core business will remain electricity," Dr. Hangala said.

"Being part of the consortium is a good opportunity and we believe this investment will generate returns that will create direct benefits to our members who are the Namibian workers in the mining and energy sectors plus their families," said Sackey Aipinge, director of Zeven Investments.

NamPower would not sell the fibre optics installed in its electricity infrastructure, the statement said. They would remain property of NamPower and not of PowerCom as the latter was an independent entity.

 

 

Gurirab at AU employment summit

Although the foreign affairs ministry issued a press release on Monday announcing that President Sam Nujoma would attend a two-day extra-ordinary AU summit in Ouagadougou, Burkina Faso this week, it was suddenly arranged to send Prime Minister Theo-Ben Gurirab. The summit ended on Friday and considered ways and means of employment creation and poverty reduction. Civil society organisations, employers’ and labour organisations were also invited. It is the first time the African Union convened a special employment summit. A source close to the foreign affairs ministry told PLUS that the Sudan issue would also be discussed during tea breaks. The AU had sent 300 troops to Darfour in the Sudan to protect thousands of refugees from Gangaveet groups.

 

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