It is with great pleasure that we announce the conclusion of a joint venture agreement between Pupkewitz and Kaap Agri Namibia.  The shareholders of both companies are extremely excited about the comprehensive footprint that is created by this joint venture.  Meeting the customers’ needs through customer satisfaction and service excellence is the top priority.  The management teams of both entities are looking forward to offer a wide range of products on the shelves for customer convenience, and to create excitement for the best products at the best prices.

Loyal customers of both Pupkewitz and Kaap Agri Namibia will be accommodated as in the past, but they can now look forward to an enhanced service and product offering at competitive prices.

Mr. Dougie Truter, Chief Executive Officer of Pupkewitz Group, commented that this was a match that had clear benefits in terms of synergies to all stakeholders.  The management team of MegaBuild will be supporting all functions of Kaap Agri Namibia and the decision making, with local knowledge, will be accurate and fast in order to meet customer demands.  With the economy slowing down, the importance of the right product at the right price in the right place has never been more important.

The opportunities that this joint venture creates for employees of Kaap Agri Namibia and Pupkewitz are exciting and in line with the number one Unifying Principle of Pupkewitz which is a commitment to people development.  Being stronger together also creates stability and security for the employees.

Mr. Séan Walsh, Chief Executive Officer of recently listed Kaap Agri Limited in South Africa, said that he was very excited about this venture and that the combined inclusive offering would positively impact the retail and agricultural landscape in Namibia.  He further emphasized that the strategies and values of both businesses were closely aligned.  Against this background he believes that Kaap Agri has made the right decision to partner with Pupkewitz.