Windhoek Observer – Page 418 – Windhoek Observer

05 Sep

Andrada transforms into multi-mineral producer

Observer MoneyAndrada Mining, multi-mineral producer

CHAMWE KAIRA Andrada Mining has transformed itself into a multi-mineral producer during the 2024 financial year, achieving a remarkable double-digit increase in tin concentrate production and successfully produced its first commercial batch of tantalum, solidifying our position as a key player in the critical metals space, chairman, Glen Parsons said. During the same period, Andrada has implemented a water recycling programme that reduced its environmental impact. “We also maintained a 99% Namibian workforce, demonstrating our commitment to the local community. Andrada's vision is deeply intertwined with our identity as a proudly Namibian company with significant future growth and value potential,”…

05 Sep

Inflation to stabilise at 4.9%

Observer MoneyBank of Namibia, Repo rate, Simonis Storm Security

CHAMWE KAIRA Simonis Storm Security projections suggest that inflation will stabilise at around 4.9% by the end of the year. The Bank of Namibia's monetary policy committee decided to implement a 25 basis point rate cut at its last meeting, reducing the repo rate to 7.50% and the prime rate to 11.25%. Simonis said although these rates remain relatively elevated, the reduction offers some relief to Namibian households and businesses by lowering borrowing costs. “Despite this rate cut, we anticipate that private sector credit extension growth will remain modest in the near term. This is due to the lag effect…

05 Sep

Osino finally in Chinese hands

Observer MoneyHeye Daun, Osino Resources Corp, Shanjin International Gold of China

CHAMWE KAIRA Osino Resources Corp has announced that it has been finally acquired by Shanjin International Gold of China for cash consideration of 1.90 Canadian dollars (N$25) for each share. The deal was first announced in February and will see, Shanjin pay 368 million Canadian dollars (N$4.8 billion) to take over Osino. Shanjin intends to cause Osino to delist the Osino Shares from the TSX Venture Exchange, to submit an application for it to cease to be a reporting issuer, and to otherwise terminate its public company reporting requirements as soon as possible. Osino is focused on the fast-tracked development…

05 Sep

Shareholding changes at Deep Yellow

Observer MoneyJohn Borshoff, Tumas project, Vanguard Group of Australia

CHAMWE KAIRA The Vanguard Group of Australia has become a substantial shareholder in Deep Yellow the company that is developing the Tumas project in the Erongo Region after it acquired 48 million shares with a voting right of 5.003%. The development was confirmed by Deep Yellow Managing Director and CEO, John Borshoff. Vanguard Group is the manager of various Mutual funds and accounts and in that capacity has the power to dispose of the shares. Deep Yellow is progressing its dual-pillar strategy to establish a multi-mine company with capacity to produce 10 million pounds of uranium per annum. The company…

05 Sep

Short-term insurance shields small business owners

Observer MoneySmall business owners

JOHANNES HESEKIEL Small companies experience various challenges in the constantly evolving business landscape of the present day. There are numerous uncertainties that arise during the journey, ranging from managing daily tasks to navigating the intricacies of market demands. Small business owners are most concerned about unforeseen incidents that could interrupt their operations and put their assets at risk. Short-term insurance serves as a safeguard, protecting assets and ensuring business operations continue smoothly. Short-term insurance, also known as general insurance, shields businesses from possible financial losses. Temporary insurance plans usually last for a specific period, usually up to a year, and…

05 Sep

MANIFESTOS AND THE BOILING ‘POT’ WITH LONG KNIVES OUT

Opinions

Paul Shipale The opinion piece by Sibuku Malumbano in New Era Newspaper, 2nd September 2024, argued for political parties to offer the public accurate information about their party’s policies, a clear vision and political objectives to allow voters to make informed decisions instead of political sloganeering as a tool for campaigning. Teboho Bojabotsheha, from Vaal University of Technology in South Africa, says that Babbie and Mouton (2004:495) point out that discourse analysis is a complex process that is better suited to those who are interested in theorising about life. In the context of this article, I am interested in theorising…

05 Sep

The Significance of the Fourth Industrial Revolution for Africa

OpinionsFourth Industrial Revolution (4IR)

Tomas Nashongo Africa, with its vast and diverse population, continues to grapple with challenges such as poverty, which many can trace back to historical factors like colonialism and current issues related to governance and stability. However, in recent years, the Fourth Industrial Revolution (4IR) has emerged as a transformative force, offering the continent a unique chance to confront these challenges and stimulate economic growth. The 4IR is defined by the integration of advanced technologies, including robotics, artificial intelligence (AI). This blend of technologies holds the promise of transforming entire industries in Africa. For instance, robotics could help address labor shortages,…

05 Sep

UN cybercrime treaty enables threatening state intrusion

OpinionsUN convention on cybercrime

Flawed treaty will provide cover for installing a highly problematic law in Namibia Frederico Links Alarm has reverberated around the world following the adoption of the draft UN convention on cybercrime in early August 2024 by the Ad Hoc Committee of the UN General Assembly specifically created to draft such a treaty. What is fueling the alarm within the global human rights community is the fact that the draft convention, which is set to be adopted by the UN General Assembly (UNGA) over coming months, has been adopted without addressing critical flaws in the treaty text that threatens to further…

05 Sep

Choosing best perfectionist of capitalism, and the continuous exploitation of workers

OpinionsNational Assembly and Presidential Elections

Kae Matundu-Tjiparuro In anticipation of the forthcoming National Assembly and Presidential Elections this November, there has been a cry about the lack of manifestos by most of the political parties, and/or the late production thereof. Yours Truly Ideologically instead has been thinking this has been much ado about nothing. Because election after election political parties have been coming forth with manifestos. Most of which, for all intents and purposes, have remained unfulfilled for those that has never had the opportunity to implement them because of failing to grab the reigns of governance. For those which has been in governance all…

04 Sep

Namibia Youth Games fixtures confirmed

Featured, SportsNamibia Sports Commission (NSC)

Hilarius Hamutenya The countdown began for the thrilling third edition of the Namibia Youth Games when the Namibia Sports Commission (NSC) released the fixtures. The draw for the fixtures took place in Windhoek on Wednesday. The games, set to ignite the sporting scene from September 11 to 15, will take place in the towns of Oshakati, Ondangwa, and Ongwediva in the Oshana Region. Teams from all 14 regions will showcase their talent across football, volleyball, and netball. Male and female teams from all 14 regions will participate in the games. All regions will send netball and football teams. For basketball,…