The Namibia Post and Telecom Holdings (NPTH) has paid N$3.1 billion to the government, spanning over two financial years, 2021/22 and 2022/23.
Out of the total amount, N$2.5 billion was paid for the financial year ending on September 30, 2022.
The sum represents proceeds from the Initial Public Offering (IPO) of Mobile Telecommunications Limited (MTC), a subsidiary of NPTH.
The successful IPO not only generated significant revenue but also made history as the first public enterprise in Namibia to transition from being entirely state-owned to fully complying with the Namibian Stock Exchange listing requirements.
During the NPTH Annual General Meeting held on Friday, it was disclosed that the remaining N$600 million was paid to the government as a special dividend.
NPTH, is a holding company of government’s interest in Namibia’s telecommunications and postal sectors.
These include Telecom Namibia Limited (Telecom), Namibia Post Limited (NamPost), and Mobile Telecommunications Ltd (MTC).
However, as part of a strategic decision approved by the government in 2021, the entity is set to be dismantled.
This move aims to streamline operations and improve efficiency by enabling the various subsidiaries to report directly to the government.
