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Namibia Economist
An infrastructure investment fund managed by Old Mutual Investment Group Namibia has acquired a majority stake in Aloe Investments Number Twenty-Sevena, company that owns a 5MW solar photovoltaic plant in Rosh Pinah.
The acquisition forms part of a joint transaction with Sturdee Energy Namibia, which has acquired a minority stake in the plant. Sturdee Energy is an African Independent Power Producer with a track record of developing, owning and operating 587MW of renewable energy projects.
The shares were previously owned by AEE Power Ventures SL, a Spanish energy company, which developed and constructed the plant. AEE Power has disposed of its full shareholding in the plant to the Old Mutual-managed fund and Sturdee Energy Namibia.
Standard Bank Namibia has appointed its Head of Personal and Business Banking, Mercia Geises, as its new Chief Executive Officer. Mercia Geises will take over from current Chief Executive Vetumbuavi Mungunda with effect from 1 May 2021.
“The Board is excited at the appointment of Mercia to lead us into an exciting new future following a well-planned and well-executed leadership management and succession programme, which, inter alia, is a demonstration of Standard Bank’s relentless commitment to growing our people and creating Namibian leaders. The success of this leadership development programme is further reflected in the young, dynamic and diverse executive leadership team in charge of the group. We are proud that the leadership transition process has been smooth and in accordance with our plans,” says chairperson Herbert Maier.