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Namibia: Prominent Locals Strike BEE Deal
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The Namibian (Windhoek)
27 March 2008
Posted to the web 27 March 2008
Windhoek
Telecom Namibia yesterday announced that TDS Directory Operations (Namibia), having secured the responsibility to manage the Namibian telephone directory in partnership with Telecom Namibia, has appointed a BEE partner.
The new partner, Ripanga Investment Holdings (Pty) Ltd, will have 25 per cent equity in TDS Namibia. Ripanga is a grouping of local black chartered accountants, lawyers, architects and medical doctors. These are Rodgers and Patrick Kauta and Tjakazenga Kamuhanga-Hoveka (lawyers), Marley Tjito and Dawid Nel (architects), Erastus Hoveka (MD: Nedbank Namibia), Phanuel Tjivau (Financial Manager: Total Namibia), Paulus Kanyama, Florence Kaura and Ishmael Katjitae (doctors).
Oxygen Communications, owned and run by prominent businesswoman Hilda Basson-Namundjebo, is also involved in the venture.
Black economic empowerment in Namibia has struck a cord of dissent among many who believe it benefits a few elite.
It is often said that it is a facade, with the same faces often seen striking BEE deals with major, established companies at the expense of many other previously disadvantaged locals.
But according to Telecom spokesman Oiva Angula, the BEE partner was chosen after a 'rigorous' tender process and emerged suitable on a number of key requirement factors.
"Telecom Namibia is delighted that our partner, TDS Namibia, has complied with our tender conditions by appointing its BEE partner within the prescribed period.
We believe that by bringing Ripanga Investment Holdings on board TDS Namibia has created and added a lot of value for all parties concerned," said Frans Ndoroma, Telecom Namibia MD.
Thabo Seopa, MD of TDS Directory Operations - the South African holding company of TDS Namibia - said the joint venture was in line with both countries' intention of fostering economic partnerships.
Ripanga director, Rodgers Kauta, said they were delighted to be appointed TDS's BEE equity partner.
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"We are excited to be TDS Namibia's BEE partner.
They bring with them a vast experience in directory publishing, being the publishers and distributors of more than 19 printed directories in South Africa, as well as the distributors of other directory related information via different platforms in South Africa," Kauta said.
Namibia's long-awaited BEE policy - known as the Transformation of Economic and Social Empowerment Framework (TESEF) - which is being put in place by the Office of the Prime Minister, is expected to come into effect next month.
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