Observer

Chamwe Kaira The government has continued to generate revenue through fish auctions with figures showing that more than N$700 million has been raised through the auctions. This approach involves auctioning fish quotas through a competitive bidding system, ensuring that the nation receives fair compensation for its fisheries and maximizes the benefits of its natural resources. In the latest development, the government has announced its intention to auction 600 metric tons of Monk Freezer Fish to the highest bidder. The Ministry of Finance and Public Enterprises and the Ministry of Fisheries and Marine Resources have invited bids for this quota, with…

Chamwe Kaira Paladin Energy, the Australian mining firm that holds a 75 percent stake in the Langer Heinrich uranium mine, is preparing to revive the mine operations with a workforce of 300 employees. According to Ian Purdy, Paladin’s CEO, the company anticipates that around 300 staff members will be responsible for operating and maintaining the plant. The essential leadership positions for both the in-country and mine site operations have already been filled. The project, valued at US$118 million, is fully financed and is progressing as planned within the allocated budget. The company aims to commence production in the first quarter…

Toyota maintains its position as the top-selling car brand in the market. In August 2023, Toyota continued to lead, capturing a 51% share of the market, which is an increase of 1 percentage point from the previous month. Following closely behind are Ford (7%), Volkswagen (6%), Kia (5%), and Scania (4%). Ford’s market share saw growth, primarily driven by the strong demand for the Ford Raptor, with 64 units sold in August. However, Volkswagen, which used to be the second-best performer, has seen relatively flat sales due to higher prices. In terms of vehicle sales, there was a 2.9% decline…

Hertta-Maria Amutenja Development Bank of Namibia (DBN) has recovered N$500 million of its DBN23 bond, marking the completion of a series of three amortising fixed-rate bonds issued in 2018. This accomplishment, as highlighted by Jerome Mutumba, Executive for Marketing and Corporate Communication at the bank, underscores DBN’s unwavering dedication to supporting Namibia’s growth and prosperity through responsible financing. The journey towards redemption began for DBN in 2018 with the issuance of three bonds: DBN20A1 in February, DBN20B in March and DBN23 in December. These bonds collectively raised an impressive N$500 million, strategically allocated to fund various developmental projects across the…