NMH to be restructuredEmployee share scheme coming Stimulus Investment Limited is disposing of some of its shares in Namibia Media Holdings to allow a management share-incentive scheme. Namibia Media Holdings (NMH), which publishes the daily newspapers Namibian Sun, Republikein and Allgemeine Zeitung, will be restructured in a move that will allow management and staff to acquire shares in the group.Stimulus Investment Limited, which has a 100% shareholding in NMH, will dispose of 20% of the printing and publishing operations to NMH CEO Albe Botha as a means of management buy-in.
Stimulus chairperson Josephat Mwatotele announced this in a statement.
“Stimulus is further committed to engage management and staff of NMH with a management and staff share-incentive scheme,” he said.
“The restructuring will add value for the group through a focused approach aimed at enhancing market share and operational efficiencies, as well as aligning the interests of management and staff with that of Stimulus.”
Three operational focus areas have been introduced that will see publishing operations trading as Namibia Media Holdings (Pty) Ltd and printing operations trading as Newsprint Namibia (Pty) Ltd, while a property operation has also been introduced.
Apart from publishing Namibian Sun, Republikein and Allgemeine Zeitung, NMH also owns three community newspapers, namely Erongo, Windhoek Express and Ewi lyaNooli.
Recently, the group acquired 65% of Intouch Interactive Marketing to enhance its digital marketing engagement with readers and advertisers.
Last week, FNB Namibia announced that it had concluded negotiations to acquire 100% of Pointbreak and EBank subject to regulatory approvals. Pointbreak owns 49% of Stimulus, and also 58.9% of Ebank. Pointbreak is a Namibian financial services group established in 1999, providing investment management and wealth management services for more than N$8 billion in third-party capital.
In 2014, the company became a founding member of EBank, a technology-focused lender that leveraged off a model allowing clients to open functional bank accounts from their mobile devices.
The parties said the partnership would enable, among other things, activation of FNB''s e-Wallet product to EBank''s client base, and in the longer term extend banking services beyond what current branch networks allow. As a result of the deal, FNB Namibia will indirectly own 39% of NMH through Stimulus and Desert Trading.
STAFF REPORTER