New era for NMH

  • 5 Months Ago - 2023-11-23 08:38:00
The Namibian Competition Commission (NaCC) has approved the transaction in terms of which Emeraldsand Properties (Pty) Ltd acquires all the ordinary shares of Desert Trade Investments (Pty) Ltd in Namibia Media Holdings (Pty) Ltd, parent company of, among others, Republikein.
Stimulus Investments announced in August this year that its wholly-owned subsidiary Desert Trade Investments (DTI) has agreed to sell its interest in Namibia Media Holdings (NMH) to Emeraldsand, a co-shareholder in this media group.
The NaCC approved this transaction earlier this month.
"The shareholders of Emeraldsand includes several members of the NMH and NewsPrint management teams, as well as our employees, albeit indirectly," said Albe Botha, CEO of NMH.
"Equally important is that ownership will belong to community trusts, which can help where help is most needed. I think we have some smart initiatives that will allow us, as a fully Namibian company, to promote our country and its people. This is a truly exciting time for all of us at NMH and NewsPrint," Botha said.
Stimulus, through DTI, previously owned 79.95% of the shares in NMH and its subsidiaries, as well as an 80% stake in NewsPrint Namibia.