Namibia: The new half-billion Nedbank headquarters, an elixir of the local economy

The new headquarters of Nedbank Namibia will account for nearly half a billion dollars in investment spending and construction activities will swallow nearly 700,000 Namibian dollars a day during the construction period. In addition, Nedbank decided to only use local purchases to inject an elixir into the local economy.

The construction period is expected to last two and a half years and employ 525 people. This ultramodern building will use more than 500,000 bricks, more than 13,500 cubic meters of Readymix concrete and more than 1,600 tons of reinforcing steel will be the backbone of the seat. The new building, to be built at Freedom Plaza in the heart of the central business district of Windhoek, will require the excavation of 68,000 cubic meters of soil.

At the groundbreaking ceremony on Friday, Lionel Matthews, chief executive officer of Nedbank Namibia, said it was essential for the bank to build and operate an energy-efficient and resource-efficient building. and respectful of the environment.

He added that the completion of the new building is the culmination of intense work to which the Nedbank team has been involved for several months. Mathews added that having all the staff based at Nedbank Namibia Windhoek, working side by side in carrying out this singular quest, would undoubtedly be the most impactful result of the new headquarters.

Mayor of Windhoek, Muesee Kazapua, also attended the opening ceremony, stating that infrastructural developments of such magnitude testify to the fact that the investment policy and the political atmosphere of Namibia remain essential for economic development and job creation.

"I congratulate Nedbank Namibia once again for its continued contribution to our local development and our vision of being a smart and caring city by 2022," Kazapua said. He continued that the current difficult economic climate would normally lead organizations to reduce their capital investment, but Nedbank Namibia continues to invest in Namibia with such certainty. This, said Kazapua, also shows that Nedbank is confident in the future of Namibia.