NORED still challenged to invest in infrastructure development: Nakashole

The Northern Regional Electricity Distributor (NORED) is still challenged to invest in infrastructure development due to vastness of its area of operation, a challenge that is compounded by limited financial resources and a high demand for electricity.

This was said by NORED Chief Executive Officer, Fillemon Nakashole, at a Public Infrastructure Funding conference at Rundu yesterday.

The conference is aimed at affording the financial and capital markets an opportunity to present product solutions which are affordable and sustainable to NORED's key stakeholders in order to boost the socio-economic development in these areas.

The funding for NORED's operations and electrification projects has been depending on the tariffs and profits accumulated over the years, Nakashole.

The CEO said this method of funding, despite being self-reliant, is slow in that some important projects have to be postponed to allow for the availability of funds.

Source: Namibia Press Agency