August 26 Holding Company Ltd yesterday launched a five-year strategic plan

August 26 Holding Company (Pty) Ltd yesterday launched a five-year strategic plan during its Annual General Meeting (AGM) held at a lodge outside Windhoek.

August 26 Holdings is a 100 per cent Government-owned company which resorts under the Ministry of Defence (MoD).

Speaking at the event, August 26 Chairperson of the Board of Directors, Fillimon Shafashike said the company will remodel on prioritising military projects and needs and diversify products and markets in order to generate value for the shareholders, be positioned to compete in the open market, and run and operate as a sustainable business.

The company seeks to address the restructuring of weak governance, poor monitoring and evaluation framework, lack of skills and expertise at board and senior management level, misaligned priorities between subsidiaries and the holding company, poorly performing strategic business units and limited business scope, Shafashike added.

The board took a decision to restructure the group in order to ensure that the MoD as shareholding ministry gets a good return on investment, he said.

Source: Namibia Press Agency