South Africa’s Clover Industries list at Namibia Stock Exchange

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South African company Clover Industries that operates in Nigeria, Mozambique, Angola and Botswana says it is possible to work with Namibian dairy farmers.
Stock ExchangeSpeaking after the company had listed at the Namibia Stock Exchange (NSX) Thursday, the company chief executive officer Johann Vorster said it was not necessary for dairy products importers to take local companies to court for a matter that can be resolved amicably.
Now that the company has listed on the NSX, the next step is to make sure that distribution of its products covers the entire Namibia.
Clover was one of the company that took the Namibian government to court over restrictions on milk imports in 2013.
At the time, the government of Namibia limited the quantities of imports to 500, 000 liters per month for cream and milk and 200, 000 liters per month for cultured milk products.
The restrictions were meant to protect Namibian dairy companies and help them grow since they cannot compete with foreign companies.
Although he regrets the court case, Vorster said Clover could import milk products that would be packaged in Namibia. This, he said, can be done either through a joint venture or where Clover can buy into an existing venture.
Since Clover offers what he called a broad basket of products, Vorster said the consumer would emerge the biggest winner in the event that his company realises such ventures.
The company plans to cover large distances in Namibia and have its products available in many parts of the country using retailers like Shoprite.
Clover listed on the Johannesburg Stock Exchange in December 2010 and raised about 500 million Namibia dollars (41 million U.S dollars). Enditem

Source: Xinhua

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