Namibia-Investment - FNB Namibia has increased its presence in the local investment banking market by launching RMB Namibia. "The level of activity in Namibia and the need for in-country facilitation led FNB Namibia Holdings and RMB South Africa to a decision about a year ago to build investment banking capacity inside the country. Rand Merchant Bank gives us the confidence that we as FNB Namibia Holdings, with access to the expertise in the FirstRand Group when required, are suitably positioned to play a significant role in unlocking a thriving future for Namibia," Vekuii Rukoro, chief executive officer of FNB Namibia Holdings, said at the official launch last week.

RMB Namibia has managed to attract a team of professionals who were already in the country and together have a wealth of experience in the Namibian market. The team consists of Steve Galloway, Johan Piek, Matthias Langheld and Henk Ludik, who will be working closely with the FNB teams on the ground, while being backed by Africa's leading investment bank, Rand Merchant Bank.

Jabu Khete, CEO FirstRand Africa introduced the RMB Namibia team and mentioned that the team has already contributed greatly to Namibia's development and to innovative structuring and financing of projects, ranging from the DeBeers Marine vessels, Langer Heinrich Mine development and current expansion and Otjikoto Gold early finance, to advisory mandates for the Bannerman, Extract Resources and Kalahari Minerals developments in the resources area.

"In infrastructure, our team has been and is still active in the debt capital markets area, participating in capital raising of more than N$ 4 billion for NamPower, Telecom Namibia and the Roads Authority, and in structuring, arranging and funding activities for the Ohorongo Cement plant, the Erongo Desalination plant and infrastructure for various municipalities.

"RMB Namibia will specialise in innovative solutions and has a depth of knowledge and experience in policy initiatives like public private partnership and transformation and empowerment models," Khete said.

He said the group is embedded in Africa and in Namibia and understand the local values and priorities.

"There is an African proverb that says if you want to go fast, go alone. If you want to go far, go together. RMB Namibia makes the promise to Namibia to go together so that we can go far, together," Khete said.

The Namibian/19/09/2011