Pursuant to the Public Enterprises Governance Act (Act No. 1 of 2019) (PEGA), the Namibia Airports Company (NAC) held its Annual General Meeting (AGM) for the 2024/25 financial year, under the stewardship of the Honourable Minister of Works and Transport, Honourable Veikko Nekundi. The meeting was attended by the NAC Board of Directors, the Chief Executive Officer, Bisey /Uirab, members of NAC Management, and various representatives from the Ministry of Works and Transport.

Under the chairmanship of Dr Leake Hangala, the NAC received an unqualified audit opinion for the fourth consecutive year, with revenues increasing by 6% to N$540 million and a profit after tax of N$9.4 million. These outcomes were attributed to NAC's route development strategy, which landed additional services from South African Airways, Air Angola, FlySafair, and Discover Airlines during the period under review. Coupled with additional flight frequencies to Hosea Kutako and Walvis Bay International Airports, passenger volumes grew to 1.1 million during the reviewed year.

Key infrastructure upgrades were implemented to increase operational efficiencies, drive down operating costs and future-proof airport infrastructure. Of particular interest is the rollout of the solar panel parking facilities, which supply renewable energy to the NAC airport at a lower price and lower carbon footprint. Despite these significant investments, the NAC did not increase its fee structure for a third consecutive year.

Hosea Kutako International Airport (HKIA) and Walvis Bay International Airport secured their long-term certification for international airport operations, while Andimba Toivo Ya Toivo and Eros Airports secured their long-term licenses for domestic airport operations. The re-certification processes are underway, and engagements have commenced with the Namibia Civil Aviation Authority (NCAA) to ensure NAC airports secure the appropriate certificates and licenses to operate.

Looking forward, new services operated by Edelweiss and Proflight will increase connectivity to Zurich and Lusaka in the next calendar year, ultimately driving passenger volumes and revenue growth higher. Carrier engagements with major carriers will continue to unlock new routes for both passenger and cargo. Higher passenger volumes and diversification into cargo will require increased investments, and over the next five years, NAC will focus on:

• Sustainable infrastructure development and green energy integration across its airport portfolio, which includes, amongst others, the construction of Terminal 3 at HKIA and various commercial property developments to diversify its revenue base.
• Finalise the land transfers for new terminal buildings at Katima Mulilo, Rundu, and Lüderitz airports.
• Digitalising operations to enhance operational efficiency, improve passenger flow and strengthen airport security.

The Honourable Minister of Works and Transport commended the leadership and staff of NAC for their exemplary dedication and performance, acknowledging their effective stewardship of the organisation and expressing confidence in NAC's ability to build on these achievements and deliver sustainable growth. "The government remains committed to supporting NAC at all material times in its mission to provide sustainable and world-class airport infrastructure and services. We will continue to offer guidance, oversight, and strategic alignment to ensure the aviation sector contributes meaningfully to the interests of the Namibian Nation, " the Minister stated.

NAC Board Chairperson Dr Leake Hangala expressed gratitude to the shareholders for their steadfast support, guidance continued trust, which was instrumental in advancing the governance and operational agenda. "This AGM reflects our collective commitment to ethical leadership, sound governance, transparency, accountability, and progress. We are proud of our achievements and remain focused on delivering continued value to Namibia's people and economy, " he said.