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Not privatized
- NamWater is a commercialized water entity and is not privatized.
www.namwater.com.na/index.php/about-us
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NamWater is a commercialized water entity and is not privatized. The Government of the Republic of Namibia is the sole shareholder, represented by a Board of Directors. The board ensures that NamWater utilizes the scarce water resources in the best interests of Namibia and the Namibian People.
- Executive Management
NamWater is a commercialized water entity and is not...
- Executive Management
NamWater is a commercialized water entity and is not privatized. The Government of the Republic of Namibia is the sole shareholder, represented by a Board of Directors.
The Namibia Water Corporation or NamWater is a state-owned enterprise in Namibia. Its headquarters are in the capital Windhoek. NamWater was officially registered as a company on 9 December 1997 (26 years ago). It is wholly owned by the Government of Namibia; Its operations are overseen by the Ministry of Agriculture, Water and Land Reform.
Aug 21, 2024 · This debt significantly hampers NamWater’s ability to operate on a full cost-recovery basis, as it functions not for profit but for public service. The accumulated balance as of June 2024 is as follows: • Private/Individual Consumers: N$ 312,139,216.20 • Industries: N$40,343,848.43 • Irrigation Farmers: N$22,525,668.54
- Key Rating Drivers
- Derivation Summary
- Key Assumptions
- Rating Sensitivities
- Best/Worst Case Rating Scenario
- Liquidity and Debt Structure
- ESG Considerations
- Applicable Models
- Additional Disclosures
Government Links under GRE: In assessing the links with the sovereign under our GRE criteria, Fitch views the support record as strong from very strong earlier. This follows the expected repayment of the government guaranteed debt in FY21 (year ending March 2021). We continue to assess status, ownership and control factors as well as socio-politica...
NamWater's National Long-Term Rating is stronger than that of its closest peers, Rand Water and Umgeni Water (both AA+(zaf)/Stable), given its strong financial profile, despite NamWater's smaller scale in terms of revenue and volumes of water sold. The SCP is supported by its cost recovery business model, historically above-inflation tariff increas...
Fitch's Key Assumptions Within Our Rating Case for the Issuer - 0% tariff increase in FY21, followed by 5% a year from FY22 - Volume increase of 7% in FY21 due to Covid-19 measures taken by government and high dam levels - Operating expenses to increase on average by 9% - EBITDA increase in FY21 due to government intervention for revenues and bad d...
NamWater Rating Sensitivities Factors that could, individually or collectively, lead to positive rating action/upgrade: - Positive rating action on Namibia's sovereign ratings. Factors that could, individually or collectively, lead to negative rating action/downgrade: - Negative rating action on Namibia's sovereign ratings. Namibia sovereign rating...
International scale credit ratings of Non-Financial Corporate issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, m...
Strong Liquidity: As of end-FY20, NamWater held cash and cash equivalents of about NAD552 million (NAD412 million at end-2020). In addition, Fitch includes NAD796 million (NAD852 million at end-2020) of short-term investments as part of Namibia's readily available cash. NamWater has repaid NAD94 million of a bond maturing in FY21 and Fitch expects ...
Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of '3'. This means ESG issues are credit neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. For more information on Fitch's ESG Relevance Scores, visit www.fit...
Numbers in parentheses accompanying applicable model(s) contain hyperlinks to criteria providing description of model(s).
Sep 14, 2020 · NamWater Water Corporation’s (NamWater) ratings and Outlook are constrained by the Namibian sovereign (BB/Negative), its sole shareholder, under Fitch’s Government-Related Entities Rating Criteria and Parent and Subsidiary Rating Linkage criteria.
NamWater establishes schemes drawing on dams, rivers, groundwater and desalinated water to supply water in bulk via pipelines and canals to where it is required.
