NPTH on course to meet dismantling target
The board of Namibia Post and Telecommunications Holdings (NPTH) is set to meet its December 2024 deadline to dismantle the company.
NPTH is the holding company for NamPost and Telecom Namibia and holds a 51% stake in mobile operator MTC on behalf of government.
This follows a Cabinet decision taken in July 2014 to dissolve NPTH and redistribute its properties and liabilities among its subsidiaries, Telecom Namibia, MTC and NamPost.
“NPTH is working towards the finalisation of the voluntary liquidation project, which is anticipated to be concluded by December 2024 as per the approved dismantling plan. As the dismantling project is now in motion, more attention will be given to this project during the coming financial year,’ board chairperson Sencia Kaizemi-Rukata and company acting CEO Kristofine Naunyango said in a joint statement.
Ultimate objectives
According to them, through engagement, the NPTH board and management will focus on communicating the way forward with the public and its stakeholders.
"This will not reduce our momentum and until such time that we conclude the dismantling project, it will be business as usual for NPTH," the statement said.
“The ultimate objective will be to successfully execute the voluntary dissolution of the company in the most seamless and cost-effective manner by the end of 2024,” the duo said.
As part of its efforts to successfully dismantle, NPTH is further looking forward to the disposal of the remaining 9% of MTC’s shares, which are currently valued at N$500 million, and which will further be listed on the Namibia Stock Exchange upon successful disposal.
The deliverables of the dismantling include the transfer of immovable properties via private treaty, the transfer of immovable properties to the subsidiary companies, the transfer of moveable shares, and the transfer of shares in the subsidiary companies.
NPTH is the holding company for NamPost and Telecom Namibia and holds a 51% stake in mobile operator MTC on behalf of government.
This follows a Cabinet decision taken in July 2014 to dissolve NPTH and redistribute its properties and liabilities among its subsidiaries, Telecom Namibia, MTC and NamPost.
“NPTH is working towards the finalisation of the voluntary liquidation project, which is anticipated to be concluded by December 2024 as per the approved dismantling plan. As the dismantling project is now in motion, more attention will be given to this project during the coming financial year,’ board chairperson Sencia Kaizemi-Rukata and company acting CEO Kristofine Naunyango said in a joint statement.
Ultimate objectives
According to them, through engagement, the NPTH board and management will focus on communicating the way forward with the public and its stakeholders.
"This will not reduce our momentum and until such time that we conclude the dismantling project, it will be business as usual for NPTH," the statement said.
“The ultimate objective will be to successfully execute the voluntary dissolution of the company in the most seamless and cost-effective manner by the end of 2024,” the duo said.
As part of its efforts to successfully dismantle, NPTH is further looking forward to the disposal of the remaining 9% of MTC’s shares, which are currently valued at N$500 million, and which will further be listed on the Namibia Stock Exchange upon successful disposal.
The deliverables of the dismantling include the transfer of immovable properties via private treaty, the transfer of immovable properties to the subsidiary companies, the transfer of moveable shares, and the transfer of shares in the subsidiary companies.
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