Chamwe Kaira
Alpha Namibia Industries Renewable Power Limited (Anirep) has secured approval from the Namibia Securities Exchange (NSX) to delay the publication of its audited annual financial statements.
The NSX-listed renewable energy company said it requires more time to complete its audit process due to complexities related to the valuation of goodwill.
As a result, Anirep will not meet the three-month deadline for publishing audited financial results as required under the NSX listing requirements.
In a statement, the company said the auditing process has taken longer than expected because of the work required to assess goodwill valuations.
The NSX has approved Anirep’s request to postpone the release of its audited financial statements until 30 June 2026.
The exchange also approved a delay in the publication of the company’s provisional financial results, which are required under section 3.16 of the NSX listing requirements.
Anirep said the extension will allow it to complete the audit process properly and ensure compliance with financial reporting standards.
The company added that the delay is intended to protect the integrity and accuracy of its financial disclosures.
Anirep is Namibia’s first listed renewable energy company and focuses on utility-scale renewable energy projects.
Its major shareholders include the Government Institutions Pension Fund (GIPF), which holds 51.8%, the Public Investment Corporation (PIC) with 31.4%, and Investec Asset Management with 7.5%.
The company aims to play a larger role in expanding renewable energy generation in Namibia.
Anirep plans to help increase the country’s commercial renewable energy capacity from about 150MW to 760MW.
As part of its growth plans, the company intends to raise about N$1.2 billion in equity over the short to medium term.
The funding will support the development and acquisition of renewable energy projects as Anirep seeks to increase its share of Namibia’s renewable energy generation market from 7% to a target of 30%.
