Dr Leake Hangala

15 Oct

NAC records N$40 million profit, plans major infrastructure upgrades

ObserverObserver MoneyBisey /Uirab, Dr Leake Hangala, Public Enterprises Governance Act

Niël Terblanché The Namibia Airports Company (NAC) has reported a profit after tax of N$40 million for the 2023/2024 financial year. This breakthrough for the state-owned enterprise was announced by the NAC Board Chairperson Dr Leake Hangala at the company’s annual general meeting (AGM) on 30 September. The AGM was held in accordance with the Public Enterprises Governance Act (PEGA) of 2019 during which the NAC leadership presented the audited financial statements to shareholders. Hangala highlighted the organisation’s financial growth, which saw a substantial increase in profits from N$19.4 million in the previous year to N$40.8 million in 2024. The…

Namibia could supply SA with electricity in 2026

ObserverMainDr Leake Hangala, Namibia could supply SA with electricity in 2026

Staff Reporter Renowned Businessman and the first Permanent Secretary of the Ministry of Mines and Energy, Dr Leake Hangala says that by 2026, Namibia will have the potential to supply electricity to South Africa and the rest of southern Africa. This, he said would be possible with the setting up of a gas power station, come 2026. “The colleagues who are involved with the development of Kudu Gas are professional, well qualified and well resourced. We must support the venture of putting up a gas power plant near Lüderitz. We will have enough electricity to send to South Africa and…