• Market Watch

Neo Paints inaugurates new factory

After 68 years in its original factory on Bell Street in central Windhoek and two years of construction, Neo Paints' new, state-of-the-art 3 600 square metre factory was christened at a colourful event on Friday, 9 September. Managing director Victor Boshoff thanked the generations of employees whose passion for paint and people has seen them grow into the market leader they’ve become, and expressed his gratitude for their perseverance through the challenging period brought on by Covid-19.

“Today is a day of thanks, and there are so many people we must acknowledge for their commitment to building Neo Paints into what it is today. Whether as a stakeholder or supplier and, of course, our loyal clients without who we would not have reached this milestone inauguration we’re celebrating today,” he said during the event.

“The majority stake of Neo Paints is owned by two private equity groups, namely the IJG Frontier Fund and Stimulus Holdings. These private equity funds are mandated to invest money from Namibian pensions into Namibian businesses. So, if you look at the shareholding through the private equity firms, we can truly say that Neo Paints is a proudly Namibian company, established, owned and driven to innovate, by Namibians,” he added to a round of applause.



Employees at heart

Among the many dignitaries in attendance, the event was graced by Hans Becker and Festus Imalwa, the company’s two longest serving employees. Becker and Imalwa were also given the honour of officially inaugurating the new facility, and their names will appear on a plaque for posterity.

“After working at Neo Paints for more 27 years, it gives me great pleasure to be part of this very important milestone in the company’s history, and to encourage the Neo Paints family to continue to be committed, keep Neo Paints strong and moving forward,” Imalwa said.

Echoing this sentiment, Becker congratulated the company on its long and storied history.

“After nearly 70 years, Neo Piants has much to celebrate. A new beginning and a new home, built on a foundation of many years of experience, passion and expertise. Through all the years of ups and downs, we kept the faith in our products, and I would like to wish the Neo family even more success in future,” the 36-year veteran of the company said, before he and Imalwa unveiled the new facility’s inaugural plaque.

Speaking on behalf of the minister of industrialisation and trade, deputy executive director Dr Michael Humavindu lauded the company for its success and shining example of Namibian manufacturing.

“This is an auspicious occasion, marking an important milestone for one of the leading players on the Namibian industrial landscape. The new factory opens its doors at a time after the country has witnessed the devastating impact of Covid-19 on the livelihoods of all Namibians, the business fraternity as well the economy of the country. Therefore, this is indeed a welcome initiative, as it gives great hope to the efforts to revive our manufacturing sector and the country at large,” he said.



Onwards and upwards

The new factory is a significant investment, which will see the company up its production capacity by up to four-fold in the future, streamline its efficiencies as well as continue to innovate and expand its product offering.

Director on the company’s board, Margareth Gustavo, who served as the director of ceremonies for the occasion, also touched on the company's enduring commitment to quality, consistency and social impact throughout its history.

“We go through seasons as companies and how we navigate the season that we are in will take us into the next season, and how we do well in that season, will take us into the next. So, congratulations to everyone at Neo Paints for navigating the seasons of this company so well,” she said.

While the factory may have moved, customers can still source the finest quality paints and related products from their national distribution network, major retailers and, of course, the factory store at their iconic old factory in Bell Street, Southern Industrial Area, Windhoek.



Catch next week’s edition of My.Na Property for more on this landmark development.