N$10m NGC dividends paid to NYS
The Namibia Grape Company (NGC) has paid out its first-ever dividend of N$10 million to its shareholder, the National Youth Service (NYS), marking a major milestone in its history.
Owned entirely by NYS, NGC recently renewed its partnership with global fruit marketer Capespan. The agreement, now extended to 2045, strengthens a public-private collaboration aimed at boosting Namibia’s agricultural exports and socio-economic development.
Formalised in November 2024, the new deal gives NGC a 51% share in operations and profits, allowing it to move beyond simply leasing land.
NGC board chairperson Richwell Lukonga said the renegotiated agreement empowers the company to fully participate in operations and profit-sharing, enhancing shareholder value and sustainability. “This structure ensures that NGC contributes proportionally to the business and benefits meaningfully from its success,” he said.
The dividend marks the first payout since NGC was handed over to NYS by the government in October 2021. NYS board member Tobias Nambala, speaking on behalf of Chairperson Emmerentia Leonard, praised the milestone as a reflection of strong governance and a successful partnership. He noted the funds will be reinvested to support youth development programmes.
The dividend will enable NYS to expand its training intake from 750 to 1 000 youths and upgrade facilities. Part of the funds will also support agricultural initiatives, including acquiring centre pivots to boost production, food security, and job creation.
Deputy chairperson of the NGC board, Nangula Shailemo, reaffirmed the company’s commitment to transparency and long-term growth. “This first dividend is just the beginning,” she said, highlighting NGC’s intent to continue delivering value to its shareholders and the Namibian people.