Namibia: DBN acquires extra stake in Ohorongo Cement

The Development Bank of Namibia (DBN) is reported to have raised its stake in Ohorongo Cement from 10% to 11.72%. Ohorongo Cement, majority owned by Schwenk Zement of Germany,produces 700,000tonnes of cement for domestic and export markets. It currently offers three products and it has spent NAD 150 million (€10.82 million/US$11.87 million) on a new facility to produce a special composite cement. The Industrial Development Corporation (IDC) of South Africa and Development Bank of Southern Africa (D
August 4, 2015 Read time: 1 min

The Development Bank of Namibia (DBN) is reported to have raised its stake in Ohorongo Cement from 10% to 11.72%.

Ohorongo Cement, majority owned by 6519 Schwenk Zement of Germany,produces 700,000tonnes of cement for domestic and export markets.

It currently offers three products and it has spent NAD 150 million (€10.82 million/US$11.87 million) on a new facility to produce a special composite cement.

The Industrial Development Corporation (IDC) of South Africa and Development Bank of Southern Africa (DBSA) have 20% and 7.3% respectively in Ohorongo Cement.

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