CHAMWE KAIRA
The 2022 NamPost financial results indicate that NamPost remains a relevant and sustainable service provider in the Namibian landscape and continues to play a critical role in social and financial inclusion for all citizens, according to board chairperson, Simeon Amunkete.
Amunkete said the group proved its resilience despite a prolonged economic downturn and the Covid 19 pandemic. “These conditions tested NamPost’s business continuity plans, and it is encouraging that it emerged with the ability to remain standing, while planning for further future diversification possibilities,” said Amunkete.
He said Namibia’s economy still faces substantial challenges, and 2022 was characterised by currency volatility, interest rate upward movements and inflationary pressures.
“High unemployment levels, exacerbated by the COVID-19 pandemic, will need to be addressed before meaningful recovery is achieved.”
NamPost has a five-year strategy cycle, and 2022 saw the conclusion of the previous five-year strategy and is now preparing for the new strategic cycle.
“We are satisfied with the group’s progress on the existing strategy, which concluded in 2022.”
Amunkete said the digital transformation of the group was interrogated and the board is satisfied
that NamPost’s combined assurance model is robust and compliance regarding its CRAN licence, anti-money laundering and tax regimes.
“We believe the new strategy is fit-for-purpose to take NamPost into the future. The board approved the new five-year strategy and will monitor the implementation thereof from 2023.”
The board of directors declared dividend for the 2022 financial year amounting to N$8 million.
Chief executive office, Festus Hangula said NamPost’s trading environment remained challenging in 2022.
“Despite moderate GDP growth, the Namibian economy continues to be hampered by the aftereffects of the COVID-19 pandemic and prolonged recessionary conditions.”
Hangula said some signs of increased economic activity, for example, the strong uptake of its financial services business unit’s range of products.
“However, due mainly to political instability in Europe, significant trade disruptions adversely affected the flow of international mail and packages, impacting the Mail and Logistics business unit. In addition, with interest rates high for most of the year, and essential resources and utilities becoming more expensive, many of our customers are financially constrained with limited purchasing power.”
He said NamPost’s outlook is cautious since many of the challenges the company faced in 2022 remain.
“However, we are confident that our new strategy will help the Group not only navigate a tough operating environment, but also transform to meet the changing needs of our customers. As CEO, my main priority in 2023 will be to present the new strategy to NamPost’s employees and other stakeholders.”
