Namib Bou (Pty) Ltd

Namib Bou was established on 21 November 1990 as N.B.S. Development Company (Pty) Ltd (Namib Building Society). In 1996 N.B.S. Development Company became part of the Capricorn Investment Holdings (CIH) group, and its name was changed to Namib Bou (Pty) Ltd on 10 February 1997.

A number of development initiatives have been undertaken in the upper market segment in Windhoek, they are as follows:

• The Terrace
• Nature’s Valley
• Morningside
• Auasblick
• Namib Park Estate

Vision and Core Purpose

During 2006, the CIH Board resolved to realign the focus of Namib Bou to the provision of middle income and affordable housing. Namib Bou was given a low capital yield requirement by CIH, in the region of 6-8% after taxation, to assist with the affordability problems of this market segment.

Namib Bou is acting as the social responsibility arm of the CIH Group. Their function is that of facilitator between the local authorities and financial institutions (banks) to ensure that sufficient housing stock is created over the long-term, to assist with meeting the housing backlog in Namibia.

Therefore, Namib Bou will facilitate the provision of affordable housing (currently N$100,000 – N$400,000), where the client can afford to pay for his/her home and provide a package deal which could include a serviced erf and home. This function entails the full spectrum of urban development and design with the installation of services through to the final delivery of a home to a client, or be limited to the construction of homes on already serviced erven.

End-user (home owner) finance will not be limited to Bank Windhoek but client will select the bank of his/her choice. Bank Windhoek endeavors to finance between 25-30% of the houses facilitated by Namib Bou.

Developments will also be conducted in the middle or higher income groups. The objective of these developments is to utilize the profits to cross-subsidize the lower income groups.

Namib Bou will not do any construction work and its operation will not negatively affect the existing developers or builders as work will be contracted out on a tender basis.

Financial results

Contact details

Namib Bou (Pty)
P. O. Box 15, Windhoek
Tel + 264 61 299 0515
Fax + 264 61 299 0595
Email: kleinl@bankwindhoek.com.na