Windhoek Observer – Page 385 – Windhoek Observer

17 Oct

Trustco expects major deal to close by December

Observer MoneyLegal Shield Holdings Limited, Riskowitz Value Fund LP (RVF), Trustco Group Holdings Limited

CHAMWE KAIRA Trustco Group Holdings Limited (Trustco) has announced updates to its planned purchase of additional shares in Legal Shield Holdings Limited (LSH), the company announced. Originally announced on 23 April, the transaction involves Trustco acquiring an extra 11.35% stake in LSH from Riskowitz Value Fund LP (RVF). This will increase Trustco’s total ownership of LSH to 91.35%. The transaction, valued at N$468 million (US$27 million), will be completed by issuing new Trustco shares to RVF. The transaction is expected to close by 31 December. The acquisition includes valuable assets such as Trustco Insurance Limited and Trustco Life Limited, as…

17 Oct

Solar could provide electricity to 400m people

Observer MoneyOff-Grid Solar Market Trends Report, World Bank’s Energy Sector Management Assistance Program

Off-grid solar is the most cost-effective way to power 41% of people globally by 2030 who are still living without energy access. The sector already provided 55% of the new connections in sub-Saharan Africa between 2020 to 2022 - where about 85% of the unelectrified population lives. The latest Off-Grid Solar Market Trends Report (MTR) 2024, published today by the World Bank’s Energy Sector Management Assistance Program (ESMAP) and GOGLA, warns that a 6-fold increase over current investment levels - or US$21 billion - is required to realize off-grid solar’s potential to contribute to universal energy access, or this opportunity…

17 Oct

Save Today and Secure Tomorrow

Observer Money

ELSIE KAMBALA Saving money is a very essential habit. Saving goals can be short-term, medium-term, and long-term. Savings are meant for various functions, including daily needs, long term goals like retirement and life insurance and unplanned events like accidents and sickness. Financial advisers agree that you should have at least three to six months’ equivalent of your monthly expenses in your savings account. Furthermore, financial experts have suggested that at least 20% of your monthly income must go towards savings, 50% to basic needs like rent and mortgage and 30% must go towards wants. The Namibia Financial Inclusion Survey 2017…

17 Oct

A hermeneutical re-appraisal of the biography of Bishop Peter T. Kalangula; A Revisionist/ oppositional narrative Part 1

Opinions

Paul T. Shipale There is a new trend in post-colonial Namibia which inspires and propels the publishing of political autobiographies and memoirs by theologians, ex-combatants, politicians, journalists, public servants etc. Indeed, currently in vogue is the re-writing of the dead and forgotten by either their friends or children. The biography of the late Bishop Peter Tanyengenge Kalangula titled: ‘A Namibian of Stature’, authored by Nelson T. Kalangula, falls in this category as one of the recent writings that are meant to immortalise some people and indicate a growing interest in re-membering the ‘heroic deeds of those who are not pedestalled…

17 Oct

Can socio-economic ills be addressed if the root cause, capitalism, remains intact?

Opinions

Kae Matundu Many, if not most, of the political parties and/or formations aspiring to form the next government of the Republic of Namibia after the 27 November Presidential and National Assembly elections have now presented their manifestos. These manifestos encapsulate the aspirations of those who have embraced them. For all intents and purposes, the contents of these manifestos and those of some others amount to nothing more than hollow promises that border on fantasy. With political analysts, the very ones who have been insisting on these manifestos, reducing some, if not all of them, to nothing but mere political hallucinations.…

16 Oct

GRN considers Nigeria’s offer to train anti-corruption officers

Main

Ester Mbathera Namibia is reviewing a proposal from Nigeria to train officers involved in anti-corruption activities. The acting executive director of the Ministry of International Relations and Cooperation (MIRCO), Ambassador Jerobeam Shaanika, confirmed this on Tuesday to the Windhoek Observer. “The specific areas of expertise will be agreed upon by the relevant institutions during the negotiations of the agreement,” he said. Shaanika stated that the Office of the Attorney General scrutinises all agreements and memoranda of agreement before seeking final approval from the Cabinet. The offer, extended by Nigeria’s Independent Corrupt Practices and Other Related Offences Commission (ICPC), was discussed…

16 Oct

Collective action to combat hunger urgently needed

National News

Niël Terblanché While Namibia battles the effects of climate change, global economic instability, and local challenges, the government and its partners, including FAO, are taking steps toward ensuring that no Namibian is left behind in the fight against hunger and malnutrition. The Ministry of Agriculture, Water, and Land Reform projects that from October 2024 to March 2025, more than 1.26 million Namibians, or roughly 48% of the population, will experience high levels of acute food insecurity. During the 2024 World Food Day commemoration in Gobabis on Wednesday, Omaheke governor Pijoo Nganate, speaking on behalf of Minister of Agriculture Calle Schlettwein,…

16 Oct

Schools struggling to accommodate Grade 8 learners

National News

Ester Mbathera Six schools in the Khomas region have rejected Megameno Nghilongwa's son, who will enter Grade 8 next year. He is now facing a difficult decision to either send his child to a boarding school or relocate the family to another region. “It is frustrating. We weren't particularly selective when we applied. We applied to high schools that were either near our home or in the same direction as our place of employment. We received letters that we were unsuccessful. We applied to public schools out of town, and we were told that preference was given to children in…

16 Oct

LPM Youth leader calls for inclusive approach to education

Uncategorised

Allexer Namundjembo The Landless People’s Movement’s (LPM) youth leader, Duminga Ndala, said education is a tripartite sector, and all stakeholders should be involved in its development. Ndala said this in an interview with the Windhoek Observer on Wednesday. According to her, despite education being free, capable parents should still need to meet their children's basic needs. “We believe that education is a tripartite sector, and all stakeholders should be involved in its development. With that in mind, capable parents should be able to meet their children's basic needs,” Ndala said. She suggested that universities should consider implementing fee increases every…

16 Oct

Electricity industry to explore AI solutions for sustainable supply

National NewsElectricity Control Board, ESI Forum

Niël Terblanché While Namibia navigates the complexities of energy supply and consumption, the electricity supply industry (ESI) aims to position itself as a leader in adopting Artificial Intelligence (AI) and smart solutions to provide efficient, affordable, and sustainable electricity. In this regard, the Electricity Control Board (ECB) of Namibia announced in a statement on Wednesday that it is set to host the 9th edition of the ESI Forum and sports games in Otjiwarongo on 24 October. According to the ECB’s chief executive officer Robert Kahimise, this year’s forum, themed “Delivering the Promise: Using Smart Solutions in an AI-Driven Environment to…