Namibia Postal Holdings (NamPost) says its asset base has increased to over N$1 billion from a mere N$6.9 million when it was established 30 years ago.
The firm’s Chief Executive Officer Festus Hangula said the growth was a result of concerted efforts and diversification of services, stretching from postal, banking, courier, philately, agency and money transfer services.
He made these remarks during a financial engagement on Wednesday with a focus on “Namibia, desired investment hub in Southern Africa – Accelerating Government and Corporate positioning to maximise beneficial outcome.”
“NamPost has a government guarantee but that did not let us fail knowing that we can be bailed out, instead we worked hard. I can confidently say that our savings bank deposits are over 60%, way above the minimum 10% deposit bracket as dictated by the law. All our deposits are right here, invested in assets. Other commercial banks keep 15% to 18% of their deposits as guarantee, just to be more secure,” Hangula said.
In addition, he said NamPost’s liquidity is healthy averaging 69%, while for the past two financial years NamPost recorded 64%. NamPost has 131 branches nationally, “at about 51 points in the country, Nampost is the only financial provider”.
“Financial and social inclusion strategy is one of our core mandates, to make sure that we reach all areas and provide the service, hence, the significance of postal infrastructure. So, when you use this strategy, you will reach more people. To investors, when you invest in NamPost you are strengthening our capacity to do more in areas that could not be reached,” he said.
