Rössing supports NEEEF

28 April 2017
Author   Eric Nyasha Mhunduru

Uranium miner, Rössing Uranium, this week called on the crafters of the New Equitable Economic Empowerment Framework (NEEEF) to carefully consider making the proposed 25 percent ownership transfer, sector specific instead of blanket legislation due to the varying capital requirements for the various economic sectors.

Rössing Uranium Managing Director, Werner Duvenhage, told the Windhoek Observer earlier this week that some industries were capital-intensive; hence the proposed 25 percent equity for previously disadvantaged Namibians might be difficult for them to access immediately.

He highlighted that the mining sector is in full support of transformation.

“We fully support the transformation and we have been continuously working with Government to find ways of transformation and, of course, from Rössing’s side we have not just been waiting for the legislation to come through, but we were part of the Mining Charter and we continuously make our input on NEEEF and they continue to engage with us regarding it.

“We remain committed to transformation and we do not have any issues with that and we continue to engage each other such that the Government and us get what is best for all of us.

“What we are suggesting from the Chamber of Mines’ side is that it should be applied industry to industry because some industries are capital-intensive.

“For other industries, it may be easier for them to get the 25 percent, hence, it can be applicable easily. So, we are calling for a sectoral application of the legislation in view of these pertinent issues,” Duvenhage said.

State House Press Secretary, Albertus Aochamub, recently raised concerns over media reports, which he said, have created the impression that the draft empowerment law was creating division among black and white business owners and that the proposed 25 percent ownership transfer will be without compensation.

“It is regrettable that in flagrant disregard of basic reporting and media standards, none of the authors, reporters and/or editors of the print and electronic media have sought comment or an update on the current status of the bill,” Aochamub said.

“This is particularly unfortunate given that it dilutes the noble objectives of the Bill and also misinterprets the call for unity and support for how the draft law can be improved to serve the Namibian people collectively.

“It is a fact that Namibia was subjected to systemic colonialism and apartheid rule that deliberately disadvantaged sectors of our society economically, socially and educationally. This has led to a gross income inequality that still continues to create uneasiness among all its citizens 27 years after independence,” he said.

Questions sent to the Law Reform and Development Commission (LRDC) Chairperson, Yvonne Dausab, on Monday had not been responded to by the time of going to print.



The Windhoek Observer is an English-language weekly newspaper, published in Namibia by Paragon Investment Holding. It is the country's oldest and largest circulating weekly.

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