Old Mutual invests in housing development

Martin Endjala

The Old Mutual has so far sourced out more than N$550 million for a new Infrastructure Fund.

The company has invested more than N$200 million in land servicing projects in Windhoek, Swakopmund, Otavi and Walvis Bay.

A further N$300 million for combined land servicing and affordable housing were invested in Otjiwarongo with 300 plots developed and 292 houses to be delivered. In Rundu 116 erven and more than 32 housing units delivered and in Mariental 56 plots were developed anew and 206 houses completed.

This was revealed by the Old Mutual Investment Group Managing Director Lionel Kannemeyer over the weekend in Windhoek.

Kannemeyer said that their investments in a myriad of bankable projects, particularly in the housing and infrastructural development space, seek to balance commercial returns with a positive social impact.

“Our track record is testament to the fact that attractive returns and a positive impact are not mutually exclusive”.

Previous land delivery initiatives were also successfully delivered and already exited in Walvis Bay and Windhoek. Commercial properties of over N$650 million were deployed in various towns including Windhoek, Rehoboth, Keetmanshoop, Arandis, Grootfontein, Ondangwa and Oshikango.

Kannemeyer also highlighted the success of alternative investments within the renewable energy sector.

“We are cognizant of the need for additional power generation to service the needs of both communities and industry, and currently invested in six renewable assets with a combined power generation capacity in excess of 25 MW which feed into the national power grid. These are located from Rosh Pinah in the far south, Keetmanshoop, Rehoboth, Grootfontein, to Otavi and Okatope in the far north of Namibia”.

Human Capital investment is another critical component of any country’s socio-economic growth and future, Kannemeyer pointed out.

Therefore, they have endeavoured to invest in various schools and institutions of learning to the tune of about N$70 million for projects which are located in Windhoek, Walvis Bay and even so far as Nkurenkuru.

In terms of healthcare, Old Mutual has funded medical infrastructure to the value of some N$30 million which was developed and invested in Rehoboth and Ondangwa.

“We have developed investment structures which are flexible enough to fit local circumstances and evolve over time as the local market circumstance develops, Kannemeyer said.

Additionally, Old Mutual values the importance of local domestic investment and continues to raise
funds from pension funds to support and fund developments which would not only improve the socio-economic development of the country but also to ensure sustainable return on investment (RoI) goals are met,” Kannemeyer concluded.

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