O&L breaks into the EU market, targets energy sector opportunities

Namibia’s largest private company, Ohlthaver & List Group, has expanded its operations into Europe.

This was after the group set up a Germany-based O&L Europe unit which is headed by  Steffen Kammerer as Managing Director (MD), and will consist of already established O&L Nexentury (in energy development), O&L Immobilien (property development and investment), O&L Sustainable Finance (finance and investment) and future activities in the hospitality industry.

“This is a truly historical opportunity for the O&L Group to leverage the enormous growth potential of the German market and to set the stage for future expansion. O&L with its century-long history stands like no other company for continuity and sustainability, which will provide positive leverage to expand our new European businesses,” Kammerer said.

“Sustainability is the strategic key with which we will address the market’s energy and environmental issues and unlock our own success. Our European business model provides cradle-to-grave renewable energy infrastructure, real estate and hospitality asset development services and strategic capital to address Germany’s and expanding to Europe’s most pressing energy and sustainability challenges.”

According to the structure announced, Kammerer will continue to serve as MD on the O&L Nexentury board, O&L Nexentury MD, while Bernd Walbaum will be responsible for leading Nexentury Africa which has operations in Namibia, South Africa and Ivory Coast; and Rollie Armstrong will be leading Nexentury Europe, with Germany as its market.

“It is extremely exciting to enter the New Year with the possibilities of O&L Europe on the horizon. An investment of this nature grants us as a Group greater resilience to external shocks and contributes to a more stable environment wherein our existing businesses can thrive. Establishing relationships, growing our capabilities and expanding our footprint beyond our borders creates greater opportunities, not only for our Group, but for our people and the country, and I am eager to see these opportunities advance,” Sven Thieme, O&L Group Executive Chairman said.

The expansion of the business comes after Heineken NV offered to buy Ohlthaver & List Group of Companies (O&L)'s 50.01% stake in NBL Investment Holdings (Proprietary) Limited (NBLIH), the controlling shareholder with a 59.4% shareholding in Namibian Breweries Limited.

O&L has been linked to plans to build a floating solar plant in Bruchsal, Germany as the company makes inroads in the renewable energy space and last year announced a partnership with CMB.TECH to build Namibia's first green hydrogen production plant in the Erongo region at a cost of N$270.7 million.

O&L 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.


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Last modified on Tuesday, 31 January 2023 19:50

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