Chamwe Kaira
Alpha Namibia Industries Renewable Power Limited (Anirep), listed on the Namibian Stock Exchange, has awarded shares to its directors and related parties under its Performance Share Incentive Scheme.
The company said the shares will vest on 30 October 2024 and be exercised on 31 July 2025 at a transaction price of N$8.99 per share.
Iyaloo Jeremiah Nangolo, a director of Anirep, received 601,672 shares valued at N$5.4 million.
James Nyandoro, director of Anirep Solar, a subsidiary of Anirep, was awarded 122,944 shares worth N$1.1 million with a transaction date of 30 October 2024.
Antti Johannes Myllärinen, a director, and Hans Pejaomati Hamukoto, executive director, each received 27,539 shares valued at N$247,575.
Executive Edith Nghitukwa was awarded 7,131 shares amounting to N$64,107.
Alternative Electricity Consultants (Pty) Ltd, a related party to Anirep, received 1,835,924 shares valued at N$16.50 million.
The transaction was dated 21 July 2025.
Anirep said all transactions involved direct beneficial interests and followed proper clearance procedures.
“The share awards form part of Anirep’s broader strategy to align management and shareholder interests through performance-based incentives,” the company stated.
For the financial year ending 28 February, group revenue rose to N$177.2 million from N$89.2 million in the prior year.
The increase came from higher engineering, procurement, and construction revenue through Hopsol Africa’s work on the Khan Moses Mague//Garoeb 25.04 MWp Solar PV plant.
The plant was completed after year-end and officially inaugurated by then-president Nangolo Mbumba.
Since commissioning, it has supplied power to the grid, doubling Anirep’s independent power producer revenue potential.
Since its 2019 listing, Anirep’s growth in net asset value has exceeded the 15% hurdle rate, triggering incentive payouts.
The value of the performance award this year was N$41.3 million.
Group loss before tax rose to N$42.9 million from N$7.9 million in the previous year, driven by the share-based incentive and increased development costs as the group expanded its IPP portfolio.
