source: allAfrica
The Namibian (Windhoek)
7 May 2008
Posted to the web 7 May 2008
Brigitte Weidlich
Windhoek
NAMPOWER has guaranteed a US$16 million loan to an unnamed Namibian company to enter into a joint venture with a Zimbabwean coal-mining enterprise.
It comes on top of the US$40 million that NamPower advanced to Zimbabwe’s coal-fired Hwange power station last year in return for 40 megawatts of electricity supply to Namibia.
John Kaimu, NamPower’s Marketing and Corporate Communications Manager, yesterday confirmed the parastatal’s role as the facilitator of the loan guarantee but declined to identify the recipient.
The loan will facilitate the anonymous Namibian company’s business with Zimbabwe’s Hwange Colliery, which supplies coal to the Hwange power station.
“It is a matter between the Zimbabweans and the Namibian company,” Kaimu said, despite probing by The Namibian.
“There is no need for [continue reading]
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