Namibia Breweries Limited (NBL) says it has contributed a total of N$2.4 billion to the Namibian economy through corporate taxes, customs duties, and excise fees.
According to NBL Board Chairman Vetumbuavi Mungunda, in the past year alone, the company paid N$800 million in corporate taxes and an additional N$1.6 billion in customs and excise duties.
“NBL has been recognised by external business players and Government stakeholders alike. For instance, NBL was awarded the highest contributor of tax and excise by the Namibia Revenue Agency in April this year. To be exact, that’s an amount of N$800 million and a further N$1.6 billion towards total corporate taxes, customs and excise paid out last year,” he said.
He further said that in 2023, the company’s beer exports reached N$747 million, showcasing its ability to compete on a global scale.
“Coupled with this is NBL’s beer exports, which amounted to N$747 million in 2023. This is testimony that Namibia Breweries meaningfully contributes towards the socio-economic development of the country and thus the social upliftment of Namibians,” Mungunda said.
This comes as the company was also the biggest driver of foreign direct investment (FDI) in 2023, with Heineken increasing its shareholding in the company for N$9.2 billion.
Namibia Breweries had acquired Distel’s Namibian operations for N$1 billion.
This acquisition, according to the Chairman, had strengthened Namibia Breweries’ competitive position by leveraging Heineken’s global expertise and combining it with local knowledge.
“A key part of the business case embodying the transaction with Heineken was the benefits of local production of the cider and wine products from the Distel portfolio, which included expansion to existing buildings, infrastructure and equipment at an amount of about N$500 million with favorable projected returns, not just for the business but for the country as well,” he said.
