Namport profits rise to N$614m
Namport has increased its profit and container volumes while declaring a N$130 million dividend to the government, as the state-owned ports operator prepares for further investment in infrastructure and the oil industry.
The stronger performance gives Namport more room to fund its expansion plans while returning money to the state. Container volumes through the ports of Walvis Bay and Lüderitz rose by 44% despite a decline in the number of vessels calling at the ports, highlighting the impact of investments to deepen the ports and accommodate larger vessels.
Transport minister Veikko Nekundi welcomed the company’s financial and operational performance following Namport’s annual general meeting at the ministry’s head office in Windhoek on Monday.
Namport’s group profit rose from N$583 million to N$614 million in the 2025/26 financial year, while the authority’s profit increased from N$492 million to N$579 million, Nekundi said.
The volume of Twenty-foot Equivalent Units (TEUs) of cargo containers moving through Walvis Bay and Lüderitz increased by 44% during the year under review, despite the number of vessels calling at the ports falling.
Nekundi said the increase in container volumes was evidence of the return on investment from deepening the ports, allowing larger vessels to call and increasing the amount of cargo handled. The minister also highlighted Namport’s procurement from Namibian businesses during the year under review.
Namport spent N$589 million on procurement, of which more than 57%, or about N$336 million, was paid to Namibian-owned enterprises. Of the total procurement amount, about 20%, or N$116 million, was paid to small and medium-sized Namibian-owned enterprises.
“This is something that we need to appreciate and encourage all enterprises of government to emulate and also to support and procure with Namibian enterprises, small and large,” Nekundi said.
Namport has declared a dividend of N$130 million to be paid to the government for the financial year under review.
Namport board chairperson Jerome Mouton said performing state-owned companies were expected to contribute to government coffers, and that the company’s financial and operational performance had made the dividend possible.
Mouton said all risks, liquidity and sustainability requirements had been taken into consideration in deciding on the dividend.
“Namport has significant reserves and can cover continued expansion as well as pay the dividend to the shareholder,” he said.
He added that if additional funding was required, Namport could draw on its own balances or access the capital markets.
Nekundi said Namport had “massive projects” still to undertake, with some already advertised and others awaiting environmental clearance.
He said the company was in a strong liquidity position to take on the projects.
“We take only a fraction as dividend and have taken into account needed investments like those for the oil industry which is taking shape,” Nekundi said.
“We are happy as the shareholder,” he said.
Nekundi also praised the work of Namport’s board, management and employees.
“I appreciate the good work done by the board, management, general workers, the cleaners, everybody who continues to offer the best logistics services and port facilities at Namport,” he said.
He said he supported the payment of performance bonuses to Namport employees because of the company’s performance.
“I am proud to concur that all employees be given performance bonuses because indeed they have performed,” Nekundi said.
He said Namport’s performance should also encourage other state-owned entities that were not performing.
