Namport’s flawed N$20 billion plan

A critical report released this week shows that the plan to transform Walvis Bay into ‘the preferred regional logistics hub’ is very expensive, is based on deeply flawed growth projections, and should be revisited in light of the economic downturn.

The new container terminal on reclaimed land is due to be commissioned in June. Photo Namport
An aerial view of a section of Walvis Bay Port. Photo: Namport

The flaw in the plan

The maximum capacity of the existing container terminal was never reached.
Ritter says the projection for the loan and investment in the new container terminal were unrealistic.
Namport employed 576 people in 2008 but by 2017 the number of employees had risen to 981. Photo Namport

Namport’s declining rate of profit

High port costs and economic stagnation negatively impacted profitability, Ritter argued.

A feeder port

Spend wisely

Vessels docked in the Port of Walvis Bay. Photo Namport

Conclusion

Writer, reporter, activist

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