Editorial: Take Dangote’s opportunity seriously

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There is a good reason for Namibians to pay attention to the Dangote Petroleum Refinery share offer.

For ordinary Namibians, opportunities to invest in large companies and major projects are not always easy to come by.

This offer gives people an opportunity to buy shares in a major refinery and, in the process, become part owners of the business.

Dangote is offering shares at N$6.03, with the minimum subscription set at 10 shares.

The company is seeking to raise N$24.2 billion to support the expansion of the refinery.

More importantly, the company says it wants ordinary Africans, including workers, drivers, chefs and managers, to have an opportunity to own shares.

That is something worth supporting.

In Namibia, we often talk about economic empowerment and the need for ordinary people to benefit from economic opportunities.

But economic empowerment cannot only be about employment.

It must also be about ownership.

A person who owns shares has a direct interest in the success of a company.

If the company performs well and pays dividends, shareholders can benefit from that performance.

This is one way ordinary people can begin building wealth over time.

The opportunity is also relevant to Namibia because Dangote is already looking at expanding its activities in the country.

Dangote Industries Namibia is advancing plans for a petroleum storage and distribution facility in Walvis Bay.

For us as Namibians, that should make the share offer more than something happening far away.

It is connected to developments that could have a bearing on our own energy and business environment. Of course, people must be careful.

Buying shares is an investment and there is no guarantee that an investor will make money.

Namibians should understand the terms of the offer and consider their own financial circumstances before putting money into it. But being careful should not mean being afraid to invest.

We cannot continue complaining that wealth is concentrated in the hands of a few while refusing to consider opportunities that allow ordinary people to become owners.

If we want a stronger culture of investment in Namibia, people must start somewhere.

The Dangote share offer provides that opportunity.

It is particularly encouraging that the company has chosen to make ordinary Africans part of the conversation.

The company says the IPO is intended to bring ordinary people into an asset that has traditionally been associated with large investors and institutions.

Namibians should therefore not simply watch from the sidelines.

Those who can afford to invest should investigate the opportunity properly and make an informed decision.

Those who cannot invest should still take an interest, because building a culture of ownership and investment benefits the wider economy.

For too long, major business opportunities have been seen as something belonging to big companies and wealthy people. That mindset needs to change.

Ordinary Namibians should have a place in the economy beyond being workers and consumers.

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