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Allegrow pumps funds into mining sector


ALLEGROW, a growth and operational development fund with a Namibia-only mandate and managed by Eos Capital, has raised and deployed N$460 million to the mining sector.

According to the third issue of the Chamber of Mines’ e-newsletter for 2022, three of Allegrow’s nine investments – Heat Exchange Products, Ecotech, and Panel to Panel – have shifted their focus to Namibia’s mining sector.

The newsletter quotes Percy McCallum, chairperson of the boards of Heat Exchange Products, Ecotech, and Panel to Panel as saying: “Eos Capital is 100% Namibian and manages the majority shareholding, being previously disadvantaged Namibians, in these portfolio companies.”

“Our three companies provide excellent services and guidance in their areas of expertise to clients, especially in the mining industry and public service’s state-owned enterprises. We are proudly Namibian companies, compete with the best, and our clients are highly satisfied with the quality of our products and technical know-how. Our companies also have significant market share with their products and services,” he says.

The three companies provide around 100 permanent jobs to Namibians and ensure that their employees receive training, mentoring, and coaching to ensure a high-performance culture is evident.

Heat Exchange Products plans to explore the external market, particularly within the Southern African Development Community region, and McCallum says the outlook is exciting and provides an opportunity for the portfolio companies to sell their Namibian products and be good ambassadors for the country.


According to the Chamber of Mines, Heat Exchange Products (HEP Water) was established in 1998 initially focused on heat transfer, but progressively diversified to provide long-term effective water management solutions to various sectors of the Namibian market.

“Over time, the company has grown with the addition of companies such as Valco Pipes CC in 2019 and Aqua Mechanica in 2021 and now boasts over 40 employees, with offices in Windhoek and Walvis Bay,” said the newsletter.

Their multi-skilled teams have access to international and local expertise. Their offering to the mining sector includes chemical reagent supply (coagulants, flocculants, antiscalants, flotation reagents, bulk commodity chemicals), equipment supply (disinfection systems, chemical dosing pumps and makeup stations, transfer pumps, filter units, softeners, piping, and water meters), water and wastewater treatment plants including design and project management, and heat transfer solutions.

Daniélla Faria, the managing director of HEP Water, says: “HEP Water prides itself on being the preferred partner in water treatment and heat transfer solutions across all major sectors in Namibia. In line with our core values, our strength lies in providing high-quality products, reliable expertise, and consistent service to our clients.”


The evolution of industrial automation has unlocked unlimited opportunities to monitor, control and optimise manufacturing and industrial processes globally.

A complete automation system chain consists of sensors, process instruments, actuators and valves, cabling, data interfacing, and industrial data communications to control systems.

Holger Barth, the managing director of Ecotech, says: “With a product portfolio consisting of world-leading brands in the industrial automation industry, Ecotech has established itself as the leading partner for industrial automation products in Namibia.”

The company serves various industries, such as mining, water and wastewater, food and beverage, power generation, petrochemical, and other manufacturing industries.


Panel to Panel is a manufacturer of insulated panels, with its factory and operations situated at Walvis Bay.

Established in 2005, Panel to Panel was the first supplier of insulated panels to the refrigeration industry and prefabricated building market in Namibia.

In 2010, the company expanded and invested N$1,6 million in its polystyrene plant. This investment enabled Panel to Panel to create more local employment opportunities and become less reliant on imports from South Africa. Today, the company employs 50 people.

Panels are made from high-quality fire-retarded polystyrene and marine grade steel and can be used in various ways from refrigeration insulation to prefabricated buildings.

For prefabricated buildings, the panels offer a quick and easy alternative to the traditional brick and mortar construction – and with the right design and layout, it can be a cheaper alternative.

Panel to Panel has been involved in many construction projects across Namibia, including the construction of mining camps, offices, change houses, accommodation units, and security facilities, as well as field clinics and classrooms.

In the agricultural sector, their panels are widely used in fishing factories, chicken hatcheries, and abattoirs as refrigeration insulation.


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