Windhoek Observer – Page 419 – Windhoek Observer

31 Oct

Internet prices expected to drop 9%

Observer Money

CHAMWE KAIRA Africa Finance Corporation (AFC) has said in its, ‘State of Africa’s Infrastructure 2024’ that subsea cables have a direct impact on connectivity, enable faster internet speeds, and reduce internet prices. The report said Equinao, the latest cable that landed in Africa in 2023 is expected to increase internet speeds five-fold in Nigeria by 2025 and three-fold in South Africa and Namibia. By the same year, internet prices should drop in each country between 16 and 21%, resulting in an increase of internet penetration by 7% in Nigeria and South Africa and by 9% in Namibia. The report said…

31 Oct

Namibia faces job creation pressures

Observer Money

CHAMWE KAIRA Namibia is one of the sub-Saharan countries that have seen their youth shares of populations peak and will face less severe job creation pressures, the International Monetary Fund (IMF) revealed in the regional economic outlook. The IMF said many middle-income countries like Botswana, Ghana, Namibia, and Mauritius have seen their youth shares of populations peak and will face less severe job creation pressures. The IMF has projected the Namibian government to grow by 4.2% in 2025, compared to 4.2% this year and 31% in 2023. The unemployment rate in Namibia decreased to 19.60 percent in 2023 from 20…

31 Oct

Drought severely impact Agra financials

Observer Money

CHAMWE KAIRA Agra has said it remains acutely aware of the challenges posed by the ongoing severe drought and its impact on the agricultural sector. The company said it is committed to navigating these obstacles by implementing strategic measures that enhance its support for producers and strengthen its operational resilience. “Our focus will be on maintaining our commitment to delivering exceptional value to our stakeholders. By prioritising robust risk management practices and fostering collaboration within our communities, we aim to reinforce our market position and ensure that Agra continues to be a trusted partner in advancing Namibian agriculture,” the company…

31 Oct

Part III; Patriotic history vs revisionist/ oppositional narrative; A response to Ndumba J. Kamwanyah

Opinions

Paul T Shipale With this third insert on the review of the biography of the late Bishop Peter T. Kalangula, allow me to respond to Ndumba J. Kamwanyah who alleged that I “seem to push for a narrow view of history, suggesting that Namibia’s liberation struggle should only be understood through the lens of SWAPO’s master narrative.” Kamwanyah also said that I accused the author of the biography, Nelson T. Kalangula, of being biased because he is related to the late Bishop. Far from it! What I said was “the author of the biography Nelson T. Kalangula, who is related…

31 Oct

Namibia helps Famous Brands earn N$218m

Observer Money

CHAMWE KAIRA Famous Brands said SADC revenue increased by 3.8% to N$218 million (2023: N$210 million), with operations in Angola, Botswana, Eswatini, Lesotho, Namibia, Malawi, Mozambique, Zambia, and Zimbabwe. “Our biggest markets, Botswana and Zambia, experienced increases in system-wide sales of 4.5% and 31%, respectively, along with like-for-like sales growth of 7.2% for Botswana,” the company said. Famous Brands has said revenue decreased slightly by 1.3% to N$563 million (2023: N$570 million), the company said in financial results for the six months ended 31 August. Operating profit improved by 5.6% to N$232 million (2023: N$220 million), and operating profit margin…

31 Oct

Paladin on pathway to global uranium producer

Observer Money

CHAMWE KAIRA Paladin Energy says the return of the Langer Heinrich Mine (LHM) to production was a major milestone on Paladin’s pathway to becoming a globally significant independent uranium producer. The LHM Restart Project achieved an outstanding performance in safety, with over 2.5 million hours worked with no serious injuries or reportable environmental incidents. The ongoing operations of the LHM are in the hands of a full-time local workforce of over 460 people, with a combination of employees and locally sourced mining contractors. According to Paladin, mining operations should resume in 2026, ahead of a nameplate production goal of six…

31 Oct

Oceana expects earnings to decrease

Observer MoneyCommercial Cold Storage Logistics Group Limited

CHAMWE KAIRA Oceana Group Limited, which is listed on the Namibia Stock Exchange and Johannesburg Stock Exchange, has said basic earnings per share (EPS) and basic headline earnings per share (HEPS) are not expected to differ by 20% or more from the financial results for the year ended 30 September 2023. The group said it believes it is prudent to provide earnings guidance to shareholders, taking into consideration the non-recurring effect of the prior year profit on disposal of Commercial Cold Storage Logistics Group Limited (CCS) and the group’s strong first half performance. Oceana said the profit on disposal of…

30 Oct

Shiimi proposes budget adjustments to address national emergencies

Main

Allexer Namundjembo Finance Minister Iipumbu Shiimi has proposed expenditure adjustments to address the most pressing emergencies facing the nation. During his mid-term budget review address on Wednesday, Shiimi announced that these measures would be implemented by reallocating additional revenues and funds from projects with low execution rates. Shiimi emphasised that the proposed adjustments in the FY2024/25 Mid-Year Budget Review would help mitigate potential risks and maintain macroeconomic stability while supporting social sectors. “In the recently released World Economic Outlook, the International Monetary Fund (IMF) projects global economic activities to grow by 3.2 percent in both 2024 and 2025, a mild…

30 Oct

NSA accused of hiding unemployment crisis

National News

Ester Mbathera The Namibia Statistics Agency (NSA) is facing increasing scrutiny from economists and politicians after omitting the Labour Force Survey in its latest Census Main Report released on Wednesday. Economist, Roaland Brown took to the X platform, calling for the dismissal of the NSA board and executive for excluding the labour force survey. “The 2023 Census was released today, however the normal section on employment/unemployment was removed (see 2011 report example vs. 2023). After not producing socioeconomic data for six years, the NSA now hides vital information before elections. The board and executive should be held to account and…

30 Oct

Ballot printing an emergency or ECN misstep

National News

Ester Mbathera Political parties preparing for Namibia's National Assembly and Presidential elections in November are still seeking clarity over the Electoral Commission of Namibia's (ECN) decision to use emergency procurement for ballot paper printing. According to the ECN’s annual procurement plan for 2024/25, the bidding process for printing ballot papers should have started on 25 July 2024. However, the commission opted for an emergency process instead after cancelling the initial decision to use Open International Bidding for ballot paper procurement. The ECN chief electoral and referenda officer of the ECN, Peter Shaama, on Wednesday, explained the emergency procurement process after…