NamPower launches own Black Economic Empowerment policy

NamPower launched its Black Economic Empowerment Policy in line with the Government’s efforts to redress existing economic imbalances in the country.

NamPower came up with the policy after realising there is need to spread the cake equitably. The policy framework was launched at a jam-packed NamPower Convention Centre in Windhoek, where the business community, government officials, members of the diplomatic corps among other, gathered to witness the launch.After the presentation of the policy, there was a question and answer session, where suppliers sought clarity on a number of issues.The policy document, aimed at existing and potential companies that do business with the country’s power utility, contains policy objectives, BEE governance, BEE procurement framework, qualification of Bee suppliers, BEE supplier score card and penalties.In his presentation, NamPower managing director, Dr Leake Hangala said the NamPower Black Economic Empowerment Policy (NBEEP) came about after long and serious consultations.He said one of the policy’s objectives that were agreed upon are that it should not increase costs of doing business, should not compromise quality and should not be complicated.NBEEP forms part of the NamPower tender and procurement policy.NamPower spends an average N$600 million per year on procurement of goods and services.Outlining NBEEP governance, Hangala said a committee had been set up to monitor the policy and evaluate procurement with BEE enterprises.A point rating system will be used to evaluate prospective suppliers and there will be total score of 100 points; that is 80 points for technical and financial aspects of tenders and 20 points for BEE.Officially launching NBEEP and in his capacity as Chairperson of the State-owned Enterprises Governance Council, Dr Abraham Iyambo also the Minister of Fisheries and Marine Resources, there is definite need for economic empowerment of the previously excluded so as to rectify inequalities that were inherited by the country.Commenting on economic empowerment Iyambo said, “It entails reversal of the embedded economic inequity and social irrelevance, a replacement of the ridiculous injustice with natural justice; a chief tool to ensure sustainable development and inclusiveness of the weak.”It is a magnet to close the gap between the rich and the poor.”Iyambo said NBEEP was the blueprint by which Namibians should use to bring about economic reform, as it was well-defined and shared a vision which epitomises the hope of many Namibians.”I congratulate the board of directors and management of NamPower for your collective wisdom…You have pro-actively pioneered the work of economic empowerment in the State owned enterprises.With this policy, you have predicted your future.Nurture the process and make the policy a living document.”Iyambo noted hurdles that exist for business people, especially newcomers to the fold saying the major frustrating link of economic empowerment was access to affordable capital and skills enhancement.”Finance is a major sticking point militating against accelerated economic empowerment.Even a well-thought and bankable project will not take off the ground without collateral and surety-ship…Collateral, although a business imperative, is presented to me as being the major hurdle to the success of empowered companies.”Iyambo labelled collateral financial institution’s “ready-made killer weapon adding that a national approach should be sought to come up with smart-partnerships to close the gap.On the issue of skills development, Iyambo, said skills were needed to assist entrepreneurs become creative and innovative in order to ensure economic generation.Iyambo also called for fair play by partners in business, saying there was currently lack of business ethics.In conclusion, Iyambo said it was imperative to know… “The past, present and future are inter-twined.It will be impossible to predict the future without perspectives of the past and the present.Reference to the past is not a scapegoat, but a fact of life.However, our present and future generations should not be vengeful but be the architects and builders of a strong Namibia.”In his address, chairman of the NamPower board, Mathew Shikongo said NamPower was committed to creating and maximising value for its customers, suppliers and shareholders, while ensuring the equitable access to the provision of goods and services to it.Shikongo also said the NBEEP had been approved by the board in support of including the majority of the population into the mainstream economy.The policy framework was launched at a jam-packed NamPower Convention Centre in Windhoek, where the business community, government officials, members of the diplomatic corps among other, gathered to witness the launch.After the presentation of the policy, there was a question and answer session, where suppliers sought clarity on a number of issues.The policy document, aimed at existing and potential companies that do business with the country’s power utility, contains policy objectives, BEE governance, BEE procurement framework, qualification of Bee suppliers, BEE supplier score card and penalties.In his presentation, NamPower managing director, Dr Leake Hangala said the NamPower Black Economic Empowerment Policy (NBEEP) came about after long and serious consultations.He said one of the policy’s objectives that were agreed upon are that it should not increase costs of doing business, should not compromise quality and should not be complicated.NBEEP forms part of the NamPower tender and procurement policy.NamPower spends an average N$600 million per year on procurement of goods and services.Outlining NBEEP governance, Hangala said a committee had been set up to monitor the policy and evaluate procurement with BEE enterprises.A point rating system will be used to evaluate prospective suppliers and there will be total score of 100 points; that is 80 points for technical and financial aspects of tenders and 20 points for BEE.Officially launching NBEEP and in his capacity as Chairperson of the State-owned Enterprises Governance Council, Dr Abraham Iyambo also the Minister of Fisheries and Marine Resources, there is definite need for economic empowerment of the previously excluded so as to rectify inequalities that were inherited by the country.Commenting on economic empowerment Iyambo said, “It entails reversal of the embedded economic inequity and social irrelevance, a replacement of the ridiculous injustice with natural justice; a chief tool to ensure sustainable development and inclusiveness of the weak.”It is a magnet to close the gap between the rich and the poor.”Iyambo said NBEEP was the blueprint by which Namibians should use to bring about economic reform, as it was well-defined and shared a vision which epitomises the hope of many Namibians.”I congratulate the board of directors and management of NamPower for your collective wisdom…You have pro-actively pioneered the work of economic empowerment in the State owned enterprises.With this policy, you have predicted your future.Nurture the process and make the policy a living document.”Iyambo noted hurdles that exist for business people, especially newcomers to the fold saying the major frustrating link of economic empowerment was access to affordable capital and skills enhancement.”Finance is a major sticking point militating against accelerated economic empowerment.Even a well-thought and bankable project will not take off the ground without collateral and surety-ship…Collateral, although a business imperative, is presented to me as being the major hurdle to the success of empowered companies.”Iyambo labelled collateral financial institution’s “ready-made killer weapon adding that a national approach should be sought to come up with smart-partnerships to close the gap.On the issue of skills development, Iyambo, said skills were needed to assist entrepreneurs become creative and innovative in order to ensure economic generation.Iyambo also called for fair play by partners in business, saying there was currently lack of business ethics.In conclusion, Iyambo said it was imperative to know… “The past, present and future are inter-twined.It will be impossible to predict the future without perspectives of the past and the present.Reference to the past is not a scapegoat, but a fact of life.However, our present and future generations should not be vengeful but be the architects and builders of a strong Namibia.”In his address, chairman of the NamPower board, Mathew Shikongo said NamPower was committed to creating and maximising value for its customers, suppliers and shareholders, while ensuring the equitable access to the provision of goods and services to it.Shikongo also said the NBEEP had been approved by the board in support of including the majority of the population into the mainstream economy.