Stimulus Looking to Invest N$165 Million in Unlisted Companies

THE profits of Stimulus Investments, the private equity company, increased to N$11 million in the financial year ended 28 February compared to N$9 million last year.

Revenue increased to N$22 million from N$14 million the previous year due to a good growth in its investments.

Managing Director, Monica Kalondo said in financial results released yesterday that the investment portfolio increased with 18,27%.

“The existing portfolio is underpinned by quality investments. Stimulus has approximately N$165 million to seek further investments. Management is actively seeking such quality investment opportunities in unlisted companies with healthy growth prospects,” said Kalondo.

She said Stimulus has applied to Namfisa for recognition as a Special Purpose Fund under Pension Fund Regulation 29.

“We continue to remain positive that there are quality investments prospects in Namibia and we believe that our demonstrated ability to find and invest in high quality assets remain our strength,” she said.

About 35% of Stimulus’ investment portfolio is currently not invested but the company said it will not convert investment pressure into inappropriate investments.

Directors decided that N$12,7 million be declared as a final dividend to the preferencial shareholders.

Source : The Namibian