CHAMWE KAIRA
Nictus has announced the acquisition of the Build It Walvis Bay branch. The company said this strategic addition to the group’s diversified portfolio reinforces Nictus’ commitment to growth, community development, and service excellence.
The Build It Walvis Bay branch has been a cornerstone of the local community, recognised for its high-quality products and exceptional customer service.
“Through this acquisition, Nictus aims to further enhance the customer experience, strengthen its presence in the construction and hardware market, and contribute to the economic and social development of the Walvis Bay region,” the company said.
Under Nictus’ leadership, the branch will continue delivering superior service and introduce an enriched range of offerings aligned with the group’s mission of innovation and excellence, Nictus said.
“This acquisition also creates new opportunities for local partnerships and employment, underscoring Nictus’ dedication to fostering economic growth and community support.”
The integration of Build It Walvis Bay into the Nictus Group will strengthen the Group’s market position and provide enhanced service infrastructure to customers in Walvis Bay and beyond, the company said.
“This development marks a significant step forward in Nictus’ strategy to deliver quality and value while upholding its 80-year legacy as a trusted name in Namibia. The Board is excited about the opportunities this acquisition will bring to stakeholders and the community, aligning with Nictus’ vision of sustainable and inclusive business growth.”
Meanwhile, Nictus announced that Talita Horn’s tenure as an independent non-executive director of the board concluded on 28 November 2024.
As a result, she was not eligible for re-election at Nictus’ annual general meeting, which took place on the same day.
As of 28 November, Horn ceased to serve as a director, the lead independent non-executive director, and a member and chairperson of the audit and risk committee.
Horn will remain involved in the group as an independent non-executive director of Nictus’ furniture retail subsidiary, Nictus (Pty) Ltd.
The company also announced that, as a result of a board resolution from 19 September, SW Walters will take on the position of lead independent nonexecutive director as of 28 November.
Additionally, the company’s audit and risk committee elected Margaret Ackermann as a member and chairperson at the AGM.
The company informed shareholders that Nictus shareholders that total issued shares comprise of 53 443 500 Nictus ordinary shares.
