Overview
Namibia Asset Management Limited (NAM) is the largest independent asset management company in Namibia and is the only listed asset manager on the NSX. NAM was formed in 1996 in response to a national call for Namibians to take leadership in one of the most critical functional areas of economic development, namely the financial services sector. With our vision to be the “Guardian of the Wealth of the Nation”, NAM is focused on providing Namibians with a platform on which to build financial wealth in order to enjoy a financially secure retirement. We currently have assets under management totaling approximately N$ 8.0billion.
Background
Namibia Asset Management (Proprietary) Limited was founded in April 1996, as a wholly owned subsidiary of Namibian Harvest Investments Limited (NHI) to provide an independent asset management service to institutional and individual investors. NHI is a broadly diversified financial services group that was successfully listed on the Namibian Stock Exchange in July 1998 with assets of N$200 million and no debt. The initial objective of NHI was however not realised. After ten years in existence the NHI board of directors decided to refocus the business to focus only on asset management. Thus all the non core businesses have been closed, apart from except for Harvest Re which was closed in 2002 but has not yet ceased to exist as there are still some technicalities that need to be sorted out. With effect from 29 May 2006, NHI’s name was changed to Namibia Asset Management Limited (“NAM”) to reflect the amended structure of the company.