Observer – Page 396 – Windhoek Observer

08 Sep

Gold digger pursing local investors

ObserverObserver MoneyGold digger pursing local investors, Twin Hills Gold Project i

Chamwe Kaira Osino Resources, the Canadian gold exploration and development company that is focused on developing its wholly owned, Twin Hills Gold Project in central Namibia recently dual listed on the Namibian Stock Exchange.The company views Namibia is a good investment destination and has stated that its core projects are favourably located north and north-west of Windhoek and that by virtue of their location, the projects benefit significantly from Namibia’s well-established infrastructure with paved highways, railway, power and water in close proximity.Osino has further said Namibia is mining-friendly and lauded as one of the continent’s most politically and socially stable…

08 Sep

Exports to African markets reach N$4.9 billion

ObserverObserver MoneyExports to African markets reach N$4.9 billion

Namibia’s exports to African markets reached N$4.9 billion in July. The figure was contained in the Namibia Merchandise Trade Statistics Bulletin for July released by the Namibia Statistics Agency. In terms of imports, the country sourced goods from Africa worth N$4.7 billion in July of which N$ 4.6 million was sourced from Mauritius. In its monthly focus, the report looked at Namibia’s trade with Mauritius. Namibia exported goods worth N$186.5 million during the period 2015 to 2022, while on the demand side, imported goods amounting to N$604.9 million over the same period were sourced from Mauritius. The export basket to…

08 Sep

NedNamibia expects GDP to reach 3% in 2023 and 3.4% in 2024

ObserverObserver MoneyNedNamibia expects GDP to reach 3% in 2023 and 3.4% in 2024

Chamwe Kaira NedNamibia Holdings (NNH) Group, the mother company of Nedbank Namibia expect the South African economy will expand by a lacklustre 0.3% in 2023, firming to only 1% in 2024. Namibia will fare better, but we still forecast economic growth to dip from 4.6% in 2022 to 3% in 2023 and 3.4% in 2024. This was revealed in interim results for the six months ended 30 June 2023. The results showed that headline earnings increased to N$241 million from N$ 118 million in June 2022. This increase was mainly attributed to the upward trend in the endowment benefits experienced…

08 Sep

Green hydrogen, oil holds promise for Lüderitz

ObserverObserver Moneyf Rossing Uranium Mine in Swakopmund, Green Hydrogen, oil holds promise for Lüderitz

Chamwe Kaira Green hydrogen and the discovery of oil are instilling hope in Lüderitz, as these industries promise significant development. The realisation of these ambitious projects hinges on substantial support from the central government, particularly in terms of crucial infrastructure and town expansion. Lüderitz is set to host a remarkable N$10 billion green hydrogen industry, while the revelation of over 11 billion barrels of offshore oil reserves in the Atlantic Ocean is expected to catalyse the town’s growth. Fluksman Samuehl, CEO of the Lüderitz Waterfront Development Company, emphasized the importance of coordinated efforts between investors and the government to ensure…

08 Sep

Namibia to be included in SanlamAllianz deal

ObserverObserver MoneyNamibia to be included in SanlamAllianz deal

Sanlam, Africa’s largest non-banking financial services provider, and Allianz, one of the world’s leading insurers and financial services providers have announced that they have received regulatory approvals for the joint venture that will create the leading Pan-African non-banking financial services company with a presence in 27 countries in Africa. The joint venture will operate as SanlamAllianz. Namibia will be included at a later stage, while South Africa is excluded from the agreement. SanlamAllianz’s ambition is to be among the top three players, in both market share and profitability, in the markets where the company will operate. The joint venture is…

08 Sep

Revised electricity model to unleash 600 megawatts

ObserverObserver MoneyRevised electricity model to unleash 600 megawatts

Chamwe Kaira The introduction of the Modified Single Buyer (MSB) model has the potential to unlock an estimated 600MW of Solar PV equivalent capacity, according to Chamwe Kaira. Under the MSB system, certain electricity consumers and Independent Power Producers (IPPs) can engage in direct transactions for supplying a portion of their electricity needs. Pinehas Mutota, the General Manager of Economic Regulation at the Electricity Control Board, revealed this development. Mutota emphasized that the MSB fosters greater competition, choice, and increased private investment, which in turn provides Namibia with the optimal opportunity to efficiently expand its local power generation. Furthermore, it…

08 Sep

Over 1.2 million face challenge to apply for credit

ObserverObserver MoneyOver 1.2 million face challenge to apply for credit

Chamwe Kaira More than 1.2 million individuals in Namibia are expected to face difficulties when seeking credit, according to TransUnion Namibia. Lara Burger, the country manager for TransUnion Namibia, commended the country for its strides in financial inclusion, revealing that approximately 360 000 Namibians eligible for credit are visible to financial institutions through credit bureaus. Nevertheless, she emphasized that an additional 1.2 million people are likely to encounter obstacles when applying for credit. These 1.2 million Namibian adults are poised to face challenges when attempting to access financial products or services that would enable their greater participation in the nation’s…

08 Sep

An exclusive interview with Merilees Govender a Rugby Player

ObserverSportsAn exclusive interview with Merilees Govender a Rugby Player

Name : Merilees GovenderDate of Birth : 4 March 1997Place of Birth : Durban, South AfricaSport : Women RugbyPosition : Scrumhalf, loose forwardClub : UNAM Women Sports is not a very easy career choice in Namibia and especially for girls and women how did it all start for you? Well, initially my first sport was cricket which I played in primary school, when I got to grade 8, I started playing rugby, netball and a little bit of soccer and volleyball. Rugby is a physical game, and its not regarded as a women sports, and in Namibia it is not…

08 Sep

Just Saying with Matts Haikali

ObserverOpinions, SportsJust Saying with Matts Haikali, Namibia football legends

As I reflect on the events of the past week, where Namibia football legends gathered to play in Rundu and Otjiwarongo, I am struck by a mixture of emotions. The nostalgia of witnessing these icons relive their youthful prowess on the very fields that once nurtured their talents is undeniable. However, this emotional journey is intertwined with a stark realization – the state of the dilapidated once-vibrant sports facilities, where they honed their skills. Am just saying the sight around some of the towns,of these deteriorated facilities serves as a testament to the neglect that has plagued them over the…

08 Sep

Brics cannot but signal a new dawn for the South

ObserverOpinionsBrics cannot but signal a new dawn for the South

Kae Matundu-Tjiparuro Against the best wishes of the Big Brothers of the capitalist order, the 15th Summit of Brics (Brazil, Russia, India, China and South Africa), has come and gone. Hailed by its constituents and proponents as having been a resounding success. And rightly so! If only for the mere fact that it took place where and when it was scheduled to, in South Africa. Against all odds. The sword of the world economic disorder, because what and how else can one describe the current economic order anything else but organised chaos masterminded by colonialists. Today’s neo-colonialists to continue their…