Shilimela retires from active business
ONGWEDIVA – Northern business mogul Banda Shilimela on Saturday announced that he will retire from active business on 31 December 2022, to spend more time with his family. The51-year-oldShilimelamadetheannouncement at Ongwediva during the launch of his book titled ‘Against All Odds’ which was attended by among others, his former military commander in the Namibian Defence Force (NDF) and retired lieutenant general Martin Shali and Oshana governor Elia Irimari.
In the 103-page book, he authored and published, Shilimela narrates his life journey, starting from the time he went into exile at the age of 10, his 10year service in the NDF and how he established his successful business empire from a struggling beginning.
He disclosed that he owns some 70 business entities ranging from security services, manufacturing, tourism and entertainment among others, around the globe, worth about N$3.6 billion.
“My business empire with a wide reach in various countries has created thousands of employment opportunities, in Africa, Asia, America and the rest of the globe,” he informed the audience.
Shilimela has not always enjoyed favourable headlines with his security company often in the news for not paying guards on time while the owner shows off his wealth.
Speaking at the launch as a special guest, Shali congratulated Shilimela for taking what he termed a “bold step” to write a book and urged Namibians to apply their minds and be sure they can achieve a lot.
“The sky is the limit and education is just a tool to assist people in complementing their knowledge, and don’t ever let it limit you,” Shali advised. He went on to ask Shilimela and his family to continue assisting the Namibian people when the need arises.
Another businessman, Erastus Shapumba of the Chicco Group of companies also applauded Shilimela for telling people about his journey through his book, noting that it is not easy running a business and at the same time writing a book.
“I will retire and leave my business empire in the hands of my workers who will be in charge of its day-to-day operations under the supervision of the board of directors,” stated Shilimela, adding that he, however, remains to play an advisory role in order to have enough time with his family.
He noted that he could not enjoy his family time, due to his involvement in the country’s liberation struggle at a tender age and since he retired from the NDF in 2000 to manage his businesses on a full-time basis.
“I have always been away from my family for business undertakings in the country and elsewhere and I think the time is now to call it a day,” he said. The book will be available in bookshops at N$350.