{"id":78865,"date":"2024-10-17T14:59:00","date_gmt":"2024-10-17T14:59:00","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades"},"modified":"2024-10-17T14:59:00","modified_gmt":"2024-10-17T14:59:00","slug":"nac-records-n40-million-profit-plans-major-infrastructure-upgrades","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades","title":{"rendered":"NAC records N$40 million profit, plans major infrastructure upgrades"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>The Namibia Airports Company (NAC) has reported a profit after tax of N$40 million for the 2023\/2024 financial year.<\/p>\n

This breakthrough for the state-owned enterprise was announced by the NAC Board Chairperson Dr Leake Hangala at the company\u2019s annual general meeting (AGM) on 30 September.<\/p>\n

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.<\/p>\n

Hangala highlighted the organisation\u2019s 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.<\/p>\n

The NAC has also maintained compliance with its audit requirements, achieving a clean audit for the third consecutive year, a testament to its sound governance and financial management.<\/p>\n

NAC Chief Executive Officer Bisey \/Uirab credited the company\u2019s success to its resilience and strategic focus, despite challenging local and international conditions.<\/p>\n

\u201cNAC demonstrated resilience and determination, navigating challenges while forging a strategic direction,\u201d he said.<\/p>\n

He also noted that the NAC is operating at about 92% of pre-Covid passenger volumes which points to a strong recovery for Namibia\u2019s aviation sector.<\/p>\n

The company also celebrated key achievements at its major airports.<\/p>\n

Hosea Kutako International Airport (HKIA) and Walvis Bay International Airport received long-term operating certificates valid until December 2025, while Andimba Toivo ya Toivo Airport was issued a three-year operating licence, valid until July 2027.<\/p>\n

These certifications reflect NAC\u2019s compliance with Namibia\u2019s Civil Aviation Regulatory requirements, reinforcing its commitment to safety and operational excellence.<\/p>\n

Passenger volumes for the 2023\/2024 financial year also showed improvement, with a total of 277,636 passengers recorded between April and June 2024.<\/p>\n

This is a notable increase from the 249,322 passengers recorded during the same period in 2023. Additionally, Namibia\u2019s performance in the International Civil Aviation Organization (ICAO) audit improved significantly, with an effective implementation score of 72.31%, up from 57.39% in 2016.<\/p>\n

One of the most significant announcements made at the AGM was the receipt of a Cabinet action letter approving the appointment of consultants for the construction of Terminal 3 at Hosea Kutako International Airport, which is expected to improve capacity and service delivery at the country\u2019s busiest airport.<\/p>\n

During the meeting, the NAC also announced new routes that will boost air travel to Namibia.<\/p>\n

Discover Airlines, part of the Lufthansa Group, will introduce a new route from Munich to Windhoek starting in April 2025, with three flights per week.<\/p>\n

Air Botswana will commence flights from Gaborone to Windhoek in October 2024, with additional routes to Maun and Kasane launching in November.<\/p>\n

FlySafair is also set to begin twice-weekly flights from Cape Town to Windhoek later this month.<\/p>\n

Hangala said the NAC is also preparing for major infrastructure developments.<\/p>\n

He indicated that the plans include the establishment of solar power plants at key airports, the development of master plans for all eight airports, and upgrades to terminal buildings at Katima Mulilo, Rundu, and Lu\u0308deritz airports.<\/p>\n

\u201cThese upgrades are designed to support Namibia\u2019s broader national development goals, particularly in light of the recent oil and gas discoveries and the country\u2019s ambitious Green Hydrogen initiative,\u201d he said.<\/p>\n

Hangala stressed the importance of sustainable growth, ethical leadership, and quality service delivery.<\/p>\n

He praised the collective efforts of the NAC Board, management, and staff, which have positioned the company as a leader among state-owned enterprises.<\/p>\n

\u201cThe NAC Board is unwavering in its dedication to maintaining and promoting the best practices in corporate governance throughout the whole organisation,\u201d he said.<\/p>\n

According to Hangala, continuous investments in key projects along with keeping an eye on sustainability, the NAC will remain positioned to continuously play a vital role in Namibia\u2019s economic development.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. 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\u2019s annual general meeting (AGM) on 30 September. The AGM was held in accordance with […]<\/p>\n","protected":false},"author":84,"featured_media":78864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-78865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nNAC records N$40 million profit, plans major infrastructure upgrades - Namibia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NAC records N$40 million profit, plans major infrastructure upgrades\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Namibia. 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\u2019s annual general meeting (AGM) on 30 September. The AGM was held in accordance with […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-17T14:59:00+00:00\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"NAC records N$40 million profit, plans major infrastructure upgrades\",\"datePublished\":\"2024-10-17T14:59:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades\"},\"wordCount\":621,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/10\/Hazrati1729164555.329735.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades\",\"name\":\"NAC records N$40 million profit, plans major infrastructure upgrades - Namibia\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/10\/Hazrati1729164555.329735.jpg\",\"datePublished\":\"2024-10-17T14:59:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/10\/Hazrati1729164555.329735.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/10\/Hazrati1729164555.329735.jpg\",\"width\":1280,\"height\":640,\"caption\":\"NAC records N$40 million profit, plans major infrastructure upgrades\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/namibia\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NAC records N$40 million profit, plans major infrastructure upgrades\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#website\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/\",\"name\":\"Namibia\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/namibia\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NAC records N$40 million profit, plans major infrastructure upgrades - Namibia","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades","og_locale":"en_US","og_type":"article","og_title":"NAC records N$40 million profit, plans major infrastructure upgrades","og_description":"Africa-Press – Namibia. 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\u2019s annual general meeting (AGM) on 30 September. The AGM was held in accordance with […]","og_url":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades","og_site_name":"Namibia","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2024-10-17T14:59:00+00:00","author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"NAC records N$40 million profit, plans major infrastructure upgrades","datePublished":"2024-10-17T14:59:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades"},"wordCount":621,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/10\/Hazrati1729164555.329735.jpg","keywords":["africa press","Africa Press-Namibia","namibia"],"articleSection":["all news","economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades","url":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades","name":"NAC records N$40 million profit, plans major infrastructure upgrades - Namibia","isPartOf":{"@id":"https:\/\/www.africa-press.net\/namibia\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/10\/Hazrati1729164555.329735.jpg","datePublished":"2024-10-17T14:59:00+00:00","author":{"@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"breadcrumb":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#primaryimage","url":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/10\/Hazrati1729164555.329735.jpg","contentUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/10\/Hazrati1729164555.329735.jpg","width":1280,"height":640,"caption":"NAC records N$40 million profit, plans major infrastructure upgrades"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/nac-records-n40-million-profit-plans-major-infrastructure-upgrades#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/namibia\/"},{"@type":"ListItem","position":2,"name":"NAC records N$40 million profit, plans major infrastructure upgrades"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/namibia\/#website","url":"https:\/\/www.africa-press.net\/namibia\/","name":"Namibia","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/namibia\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts\/78865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/comments?post=78865"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts\/78865\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/media\/78864"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/media?parent=78865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/categories?post=78865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/tags?post=78865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}