Windhoek Observer – Page 3 – Windhoek Observer

05 Dec

Africa Bitcoin secures N$50 million in new note issuance

Observer Money

Chamwe Kaira Africa Bitcoin Corporation Limited (formerly Altvest Capital Limited) has reached a new milestone after its subsidiary, the Altvest Credit Opportunities Fund (ACOF), raised N$50 million through a private placement of domestic medium-term notes. The company is listed on the Namibian Stock Exchange. The notes were issued under ACOF’s N$5 billion domestic medium-term note program. The agreements for the issuance were finalised ahead of the planned listing on the Cape Town Stock Exchange. The notes will mature on 1 December 2032, providing long-term funding stability for ACOF and investors. Africa Bitcoin Corp., which is listed on JSE, NSX, and…

05 Dec

AI tools fuel rise in long-game scams

Observer Money

Staff Writer AI is increasingly being used to deceive and manipulate victims in long-game scams, with Pig Butchering schemes becoming more sophisticated and harder to detect. These scams usually begin with an unexpected message from a stranger on social media, dating apps or messaging platforms. The scammer pretends to be a successful investor, entrepreneur or romantic interest and spends weeks or months building trust. Once the relationship feels secure, they introduce what appears to be a promising investment opportunity, often involving cryptocurrency or forex trading. The use of artificial intelligence has made these scams far more dangerous. Fraudsters now rely…

05 Dec

Task forces for what?

Opinions

Kae Matundu-Tjiparuro The President has announced task forces for the recovery of the economy, health, housing and land. What the various task forces need to do about these four areas of socio-economic endeavour may, perhaps, sooner rather than later, become clear and expanded and expounded on further on. By Her Excellency herself, perhaps by the task teams themselves. That is if such expounding and clarification may be part of their briefs and mandates. Needless to say, their briefs and mandates need further explication. Regarding the economy and its propounded recovery, it is a well-known fact that the Namibian economy has,…

04 Dec

Parties say ECN must do better after election blunder in Rundu

National News

Allexer Namundjembo The Popular Democratic Movement (PDM) has urged the Electoral Commission of Namibia (ECN) to strengthen its staff to avoid errors that undermine trust in the electoral system. PDM secretary-general Manuel Ngaringombe said the recent error made during the Rundu local authority election should not have happened. “It is not something that anyone expects, that an error of that kind should occur,” he said. This comes after the ECN admitted it made a seat allocation error in the Rundu election and has now launched an urgent self-review application in the Electoral Court. The commission said one seat was wrongly…

04 Dec

Namibia welcomed over one million tourists in 2024

National News

Justicia Shipena More than one million tourists visited Namibia in 2024, showing a strong rebound for the country’s tourism sector after years of Covid-19 disruptions. The Ministry of Environment, Forestry and Tourism reported 1 257 093 arrivals, an increase of 45.5% compared to 2023. A separate inbound tourism report also shows that total foreign arrivals reached 1 444 174, reflecting a 37% rise and renewed global confidence in Namibia as a travel destination. Launching the tourist statistical report 2024 in Windhoek on Wednesday, environment and tourism minister Indileni Daniel said the growth reflects the sector’s resilience. “This increase in tourist…

04 Dec

New farming project to help 24 000 people affected by drought

National News

Justicia Shipena Japan has committed N$48 million to a new agriculture project aimed at helping drought-affected farming communities build resilience through adaptive, climate-smart practices. The funding was announced on Tuesday in Windhoek during an exchange-of-notes and signing ceremony. The event was attended by Japan’s ambassador to Namibia, Shinichi Asazuma, and officials from the Ministry of Agriculture, Fisheries, Water and Land Reform, the Food and Agriculture Organization of the United Nations (FAO) and the National Planning Commission (NPC). The project, titled Enhancing Resilience in Farming Communities Affected by Drought Through the Promotion of Adaptive Agriculture, will run for two years until…

04 Dec

Joint committee to guide FOA–IUM skills partnership

National News

Renthia Kaimbi A joint technical committee will guide a new academic partnership between the Fisheries Observer Agency (FOA) and the International University of Management (IUM), following the signing of a five-year Memorandum of Understanding yesterday. The agreement sets out a structured plan to strengthen the country's marine resource management through education, training, and research. The joint technical committee will define technical details, monitor progress, and determine funding needs for planned activities. FOA chief executive officer Stanley Ndara signed the MoU alongside IUM vice chancellor Osmund Mwandemele. Ndara said the agreement is the first between the two institutions and will be…

04 Dec

The Namibian skills armageddon: Time to match education with national needs

Editorial, Featured

Namibia stands at a defining crossroads. With 70% of our population under the age of 35, we possess what many nations can only dream of: a young, energetic demographic capable of driving innovation, production, and economic transformation for generations to come. And yet, ironically, we are simultaneously burdened by soaring unemployment rates, a growing semi-skilled workforce, and a tertiary education system that often operates in isolation from the true requirements of the economy. This is a dangerous contradiction, one that may soon plunge us into what can only be described as a skills armageddon if decisive action is not taken.…

04 Dec

The beauty of a country undermined by mines: Is it true that the underground resources bring more wealth than tourism?

Opinions

PAUL T. SHIPALE (with inputs by Folito Nghitongovali Diawara Gaspar) President Netumbo Nandi-Ndaitwah observes that Modestus Amutse’s leadership record at the regional level strengthens the experience he brings to his new role as Minister of Industries, Mines, and Energy. We agree with those who are saying that this ministry needs someone at the helm who has outstanding analytical and communication skills, a deep understanding of energy and mining policies and leadership experience in the field. Someone who has the capability to integrate mining into the sixth National Development Plan (NDP6) to enhance implementation by aligning the sector with national economic…

04 Dec

Trade balance records deficit of N$2.9 billion in October

Observer Money

Chamwe Kaira Namibia recorded a trade deficit of N$2.9 billion in October, an improvement from the N$3.4 billion shortfall in September. Statistician general and chief executive officer of the Namibia Statistics Agency (NSA) Alex Shimuafeni said the latest figures show a smaller gap between exports and imports. Year-on-year, the deficit stood at N$7.2 billion. China was Namibia’s largest export market in October, while South Africa remained the main source of imports. In September, South Africa had been the top market for both exports and imports. Most exports in October came from the mining sector. Uranium, non-monetary gold, diamonds, and copper…