Namibia’s Ohlthaver & List Group acquires majority stake in Germany’s renewable energy company

NAMIBIA – The Ohlthaver & List (O&L) Group, Namibia’s largest private company, has acquired the majority stake in Cronimet Mining Power Solutions GmbH, from the exiting shareholder CRONIMET Mining AG of Switzerland, thereby growing its operations into the international market beyond the south Western African country.

Cronimet Mining Power Solutions GmbH is a German-based renewable energy project development, Engineering-Procurement-Construction (EPC), investment and asset management company.

O&L Group Executive Chairman, Sven Thieme and Chief Executive Officer (CEO), Wessie van der Westhuizen welcomed the new member to the O&L family and portfolio.

“In line with our Vision 2025 Breakthrough Strategy of ‘being a catalyst for positive change, creating new realities and fulfilling dreams’, we are excited to welcome on board O&L Nexentury as we continue unlocking and maximizing synergies and value for renewable energy and long-term sustainable business for both the Group and our external customers,” he said.

“This exciting, new partnership is a big leap in the O&L Group’s quest of venturing beyond borders. The projects successfully completed by O&L Energy and its partners have proven that we can compete with the best in the world and therefore it is time to take this Namibian business to the world.”

The merger comes after half a decade of successfully partnering with CRONIMET in Namibia through a joint venture. In cementing the corporate merger, the O&L Energy business and CRONIMET will henceforth adopt its new trade name and brand, O&L Nexentury.

“With this merger the O&L Energy Business enters into a new and very exciting era. By building an international business in Namibia, Africa and Europe we follow the O&L purpose ‘Creating a future, enhancing life.”

Gunni Hanke, O&L Group Chief Operations Officer (COO) and Bernd Walbaum, Director of O&L Nexentury GmbH

“We are thrilled to officially be part of the O&L family after many successful years as partners as we inaugurate our next century by building a future together that enhances life and grows a profitable and long-term sustainable business,” said Rollie Armstrong and Steffen Kammerer, Co-Founders and Directors of O&L Nexentury GmbH.

“With this merger, the two companies have aligned their renewable energy and sustainable infrastructure business models to expand development and asset aggregation throughout Africa and into Europe.

“Capitalized with the O&L Group’s rich Namibian history, its corporate culture and financial muscle and combined with what was CRONIMET’s project development expertise, team diversity and track record, the new O&L Nexentury is set to be a major international force.”

Gunni Hanke, O&L Group Chief Operations Officer (COO) and Bernd Walbaum, Director of O&L Nexentury GmbH: “With this merger the O&L Energy Business enters into a new and very exciting era. By building an international business in Namibia, Africa and Europe we follow the O&L purpose ‘Creating a future, enhancing life.”

O&L is Namibia’s largest privately held group of companies, with revenues contributing roughly 4% to GDP of the country.

It has business interests in food production, fishing, beverages, farming, retail trade, information technology, property leasing and development, renewable power generation, marine engineering, steel retailing, advertising and the leisure and hospitality industry.

The parent companies of Olfitra are O&L Holdings (Proprietary) Limited and List Trust Company (Proprietary) Limited, with the controlling shareholder of the O&L Group being the Werner List Trust.

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