The TransNamib board met with President Hage Geingob and some cabinet ministers at State House to discuss prospects of leveraging on company assets to fund operations.
At the meeting, Prime Minister Saara Kuugongelwa-Amadhila has also suggested that TransNamib reveals its assets as well as the value.
The team further briefed Geingob on the recruitment of a Chief Executive Officer while reservations have already been made and are at an advanced stage, board member Michael /Ochurub told The Villager.
He said TransNamib needs about N$350 million to successfully implement its business plan which the board members have also requested the head of state to approve.
“We also talked about the salary bill which is 77 % and leaves the company only with 23 % which is very little for operational expenses. That is why we have proposed a voluntary exit for our stuff members and early retirement for those that are already above 55 years,” he said.
He said the company has not yet considered directly retrenching, and that the discussed issues are part of TransNamib’s integrated strategic business plan.
“What we also expressed was that we believe that we can transform TransNamib if the state can give us the necessary funds so we can implement our strategic plan,” he said.
Despite the company being a drag on government financial resources, /Ochurub believes it has chances of success.
“We have an enormous task to transform TransNamib so we needed to consider transformational interventions. Next to the strategic planning process, stream of actions need to be taken as required from any change or transformational process to move towards the vision. We have to create conditions in which change must take place to ensure successful implementation of our business plan. It's only through change that a vision and strategy can advance and become a reality”
“This in short is the trajectory process that was highly prioritised and consistent by the board since its inception. TransNamib has sub systems like any other organization which are interdependent hence alterations in one part requires also alterations in another part. We have to monitor all closely to ensure operational efficiency,” he concluded.