Windhoek Observer – Page 11 – Windhoek Observer

20 Oct

PSG Wealth sells insurance business to Santam for N$51m

Observer Money

Chamwe Kaira PSG Wealth made N$51 million from the sale of Western National Insurance Namibia to Santam Namibia. The company said in its interim results for the six months ended 31 August that the assets and liabilities related to the insurance business were classified as held for sale since 29 February 2024, after management approved the sale. The sale became effective on 3 March 2025 after all suspensive conditions were met. PSG, which operates in South Africa and Namibia, reported a 21% rise in recurring headline earnings per share and a return on equity of 28.6%. The company said better…

20 Oct

IMF forecasts Namibia’s GDP to grow by 3.6%

Observer Money

Chamwe Kaira The International Monetary Fund (IMF) has projected that Namibia’s economy will grow by 3.6% in 2025, compared to 3.7% in 2024. The IMF predicted Namibia's growth to reach 3.8% in its October Sub-Saharan Africa report. Angola’s economy is projected to grow by 2.1% in 2025, down from 4.1% in 2024. Botswana is expected to record a negative growth of -0.9% in 2025, compared to -3.0% in 2024. The IMF expects Botswana’s economy to recover to 2.3% in 2026. Sub-Saharan Africa’s economic growth is expected to remain steady at 4.1% in 2025, with a small increase in 2026. The…

20 Oct

O&L sells its Cleanergy stake to Belgian company

Observer Money

Chamwe Kaira H2Infra NV, a subsidiary of Belgian-based CMB.TECH, is set to become the sole shareholder of Cleanergy Solutions Namibia after acquiring the 51% stake held by the Ohlthaver & List (O&L) Group. The transaction, subject to approval by the Competition Commission, marks a new phase for the clean energy company that plays a key role in Namibia’s green hydrogen drive. O&L executive chairman Sven Thieme said CMB.TECH is “ideally positioned to lead Cleanergy forward”, using its international expertise and innovation to support Namibia’s sustainable energy goals. O&L co-founded Cleanergy Solutions Namibia and said it is proud to have helped…

20 Oct

Strong uranium market fuels Paladin Energy’s growth strategy

Observer Money

Chamwe Kaira Global uranium demand is rising as more countries expand nuclear energy to strengthen energy security and meet decarbonisation targets. At the 28th Conference of Parties (COP28) and COP29, 31 nations, including the United States, Canada, the United Kingdom, and France, pledged to triple nuclear power capacity by 2050. In the United States, new executive orders aim to quadruple the national nuclear fleet from about 100 GW to 400 GW by mid-century, which would add around 150 million pounds of uranium demand each year. Paladin Energy, owner of the Langer Heinrich Mine in the Erongo Region, said during a…

20 Oct

Why a retirement annuity matters and benefits you

National News, Observer Money, Opinions

Sebastian Clementinus Securing your financial well-being in retirement begins with taking decisive action, yet many delay this crucial step. Among the available options, a retirement annuity (RA) stands out as a reliable and structured solution. Whether you are just starting your career or are close to retirement age, understanding the value of a retirement annuity can make a significant difference to your future. What is a retirement annuity? A retirement annuity is a long-term investment product that helps you save for retirement in a tax-efficient manner. You can make contributions monthly or as a one-off lump sum, and these funds…

20 Oct

The ROI of laughter: measuring the business impact of team building

Opinions

By Diamond Training Institute It’s easy to dismiss laughter as the soundtrack of leisure, not productivity. Yet, in the modern workplace, it may be one of the most reliable indicators of a healthy, high-performing team. When employees laugh together, they do more than share a moment of joy—they build trust, reduce stress, and strengthen social bonds that directly affect business results. The return on investment (ROI) of team building, then, is not just measured in smiles but in measurable shifts in engagement, innovation, and performance. Psychologists and organizational researchers have long noted that laughter triggers positive emotional contagion—a ripple effect…

17 Oct

Luvindao scrambles for malaria medicine from foreign missions … as only a month’s supply is left

Main

Renthia Kaimbi Namibia has appealed for international help to restock critical malaria medicines as the country faces a worsening outbreak and dangerously low drug supplies. A letter obtained by the Windhoek Observer revealed that Health Minister Dr Esperance Luvindao had reached out to diplomatic missions for assistance after the national medical warehouse was found to have only a one-month supply of essential antimalarial drugs. The Windhoek Observer understands that a formal request was sent to Japan’s ambassador to Namibia, Asazuma Shinichi. However, it remains unclear if similar appeals were made to other embassies. “Today, I reach out to you regarding…

17 Oct

NaTIS rakes in almost N$87m each month

National News

Allexer Namundjembo Drivers and vehicle owners help the National Traffic Information System (NaTIS) generate nearly N$87 million in monthly revenue, works and transport minister Veikko Nekundi told Parliament on Wednesday. Nekundi said that as of September, the country's vehicle population stood at 419,716, while the number of licensed drivers was 379,023. “Approximately 140,000 NaTIS transactions are conducted monthly, generating a revenue of about N$87 million,” he said during his ministerial statement. Despite the strong revenue, Nekundi acknowledged that clients still face major challenges such as long queues, long waiting periods, unnecessary travel costs, corruption, and scams. “Therefore, the ministry and…

17 Oct

No electricity for unplanned settlements, warns Ithete

National News

Justicia Shipena The minister of industries, mines and energy, Natangue Ithete, has urged Karibib residents to live within town planning boundaries to benefit from electrification projects. This comes as 47% of households are currently connected to the national grid, while 12% rely on solar energy. “The government cannot electrify unserviced areas; therefore, the community is encouraged to ensure that they reside according to the town plan,” Ithete said during the inauguration of electrification projects in Usab, Karibib, on Thursday. The inauguration brought electricity to 257 houses in the area. Of these, 133 households were connected under the first service level…

17 Oct

Court finds Grootfontein ex-councillor’s jackhammer rental story unconvincing

National News

Renthia Kaimbi Former Grootfontein councillor Etnee Tsanigab has lost a court case against the Grootfontein municipality after the High Court dismissed his company’s N$770 000 claim related to a disputed jackhammer rental deal. Court documents obtained by the Windhoek Observer show that High Court judge Thomas Masuku ruled against Elseldra & Etnee Trading CC, a company owned by Tsanigab. The firm had sued the municipality for N$771 008, claiming it rented out a heavy-duty jackhammer in November 2020 at a daily rate of N$2 450. The municipality denied the claim, saying no agreement existed. It argued that such an arrangement…