annual financial statements - Nedbank Group Limited

16 NEDNAMIBIA HOLDINGS LIMItED ANNUAL REPORt 2010
europay, mastercard and visa (“emv”) global standard for credit and
debit payment cards based on chip card technology.
further investments were made in the nedbank namibia/nedloans
distribution network. three Atms were added in Windhoek and
swakopmund, bringing the total of machines to 36 across namibia.
the number of outlets increased to 21 with the opening of nedbank
namibia and nedloans premises in rundu. the outlets in lüderitz,
keetmanshoop and Walvis Bay were fully refurbished. the offices
of the group’s executive committee were relocated, and shared
services moved to the nedbank namibia head office building after
expiry of its lease in a nearby location.
improvements to work flow processes were made. the centralisation
of branch back office functions in one Windhoek location, which was
completed in 2010, resulted in the saving of 16 positions and the
deployment of these personnel into other areas needing capacity.
the establishment of a client contact centre helped improve service
levels. the installation of a document imaging system improved
document flow and availability of documents.
the branch network was modelled and benchmarked to determine
sizing and staffing according to account numbers. in a further
development of the technology infrastructure, the Bank’s network
was fully aligned to nedbank group standards.
miNiNg CHaRteR will boost emPoweRmeNt
tRaNsaCtioNs
A development in 2010 of long-term significance for namibia
was the move to introduce a mining charter to contribute to the
country’s economic transformation.
given its role in mining, as reflected in its reach into the multibillion
dollar pipeline of projects in namibia, the adoption of a
mining charter will present the group with an opportunity to build
on its well-established record in empowerment transactions. the
involvement of the group economist in the initial drafting of the
charter was a further illustration of the group’s commitment to build
a stable and sustainably prosperous society.
in addition to the existing project pipeline, additional opportunities
are expected to flow from the need for infrastructure for mining,
power generation and water supply. these infrastructure needs range
from a second harbour to cater for bulk imports – that on top of
the expansion at Walvis Bay, primarily for containers – and a second
desalination plant.
to address these opportunities and provide depth of expertise,
capacity in the specialist finance arena is being built.
given its role in mining, as reflected in its reach
into the multi-billion dollar pipeline of projects
in namibia, the adoption of a mining charter will
present the group with an opportunity to build on its
well-established record in empowerment transactions.