info_e12wt4cs – Page 482

20 Nov

Swakopmund prepares for the festive season

info_e12wt4csNational NewsSwakopmund prepares for the festive season

Niël Terblanché With a mix of holiday spirit, exciting activities, and enhanced security measures, Swakopmund is ready to welcome visitors and residents to a memorable and safe holiday season at the coast. The festive season has officially descended upon Namibia, and the signs are unmistakable. Businesses are winding down for the year, schools are emptying out, and the atmosphere is charged with excitement. For many, it’s the perfect time to relax by the beach in Swakopmund or embark on a journey to visit family in the northern or southern regions of Namibia. Coastal towns such as Swakopmund, Henties Bay, and…

20 Nov

“People love Swapo, thousands returning,” says Nandi-Ndaitwah

info_e12wt4csMainthousands returning, “People love Swapo

Stefanus Nashama The Vice President of the Swapo Party, Netumbo Nandi-Ndaitwah, expressed her observation and a strong belief that many people, including the youth, have a deep affection for Swapo, and thousands are returning to the ruling party. Addressing a rally in Oshakati, in the Oshana Region over the weekend, Nandi-Ndaitwah revealed that thousands of people have recently come forward to obtain their party memberships. “We have more than 1,000 people who have come to receive their memberships,” she stated. She further disclosed that the party’s political bureau has decided to explore ways to unite people, especially in preparation for…

20 Nov

Reforming Namibia’s Divorce Laws for Modern Realities

info_e12wt4csOpinionsPatience Masua & Anupriya Dhonchak, Reforming Namibia’s Divorce Laws for Modern Realities

Patience Masua& Anupriya Dhonchak In an era where the complex web of relationships weaves its own narrative, Namibia’s divorce laws are at a critical juncture, demanding an evolution that reflects the intricate realities of human bonds and the evolving dynamics of contemporary society. The existing divorce legislation in Namibia relies on assigning fault, necessitating one spouse to demonstrate the wrongdoing of the other. Currently, the four grounds for divorce consist of adultery, habitual criminality, mental disability, or malicious desertion for prolonged periods. This oversimplifies the reality that relationships can unravel due to a combination of factors involving both spouses. ‘Irretrievable…

17 Nov

Bureaucracy affects mining investment

info_e12wt4csObserver MoneyBureaucracy affects mining investment

Chamwe Kaira Bureaucracy hinders Namibia’s attractiveness as a mining investment destination, prominent businessman, Dr Leake Hangala said this week. “To be honest our mining regime in Namibia is quite attractive compared to other countries, some feel we may have high taxes, here and there,” he told Observer Money this week. Hangala feels the problem in Namibia is bureaucracy. “The problem we have in Namibia is bureaucracy. “The amount of time it takes to get some of the necessary permits and papers. If the government can reduce that as well the issues related to environment impact studies,” he said. He said…

17 Nov

Otavi, Otjiwarongo to glitter less

info_e12wt4csObserver MoneyOtavi, Otjiwarongo to glitter less

Chamwe Kaira The old saying, ‘Not all the glitters is gold,’ has come true for the towns of Otavi and Otjiwarongo. The towns will face the economic impact of the scaling down of the operations of the B2Gold’s Otjikoto Mine, which is situated between the two towns. The company has started the phased closure of its mine because of its depleted gold resource. Commercial mining started in 2015. Country Manager, John Roos, disclosed that the company last year conducted a detailed social impact assessment study to see what the impact could be. He said the outcome of the study drives…

17 Nov

Feasibility on hydrogen locomotives underway

info_e12wt4csEnergy, Observer MoneyFeasibility on hydrogen locomotives underway

Chamwe Kaira The development of Africa’s first dual-fuel hydrogen-diesel locomotives is at feasibility and concept stage, CEO of Hyphen Technical, Konrad Boshoff said. The consortium led by hydrogen application development company, Hyphen Technical, comprises, TransNamib Holdings Limited, University of Namibia, CMB.TECH and Traxtion. “Funds will be raised through the grant, secured loans from partners and from capital from shareholders of the project company. The total cost of the entire project is €9.17 million including all work packages for the pilot and related research projects.” Cleanergy Solutions Namibia has already broken ground on the site outside Walvis Bay. Boshoff said commissioning…

17 Nov

Namibia Asset’s earning increase up to 25 percent

info_e12wt4csObserver MoneyNamibia Asset’s earning increase up to 25 percent

Namibia Asset Management expects its earnings to increase between 15 percent and 25 percent for the year ended 30 September, the company announced this week. The company announced that Earnings per share (EPS) and headline earnings per share (HEPS) for the year ended 30 September 2023 are expected to increase between 15 percent and 25 percent (between 1.04 and 1.73 cents per share) when compared to the EPS (6.92 cents) and HEPS (6.92 cents) reported for the year ended 30 September 2022. The company further said fund management earnings per share (FMEPS) for the year ended 30 September are however…

17 Nov

Namibia Asset’s earning increase up to 25 percent

info_e12wt4csObserver MoneyNamibia Asset’s earning increase up to 25 percent

Namibia Asset Management expects its earnings to increase between 15 percent and 25 percent for the year ended 30 September, the company announced this week. The company announced that Earnings per share (EPS) and headline earnings per share (HEPS) for the year ended 30 September 2023 are expected to increase between 15 percent and 25 percent (between 1.04 and 1.73 cents per share) when compared to the EPS (6.92 cents) and HEPS (6.92 cents) reported for the year ended 30 September 2022. The company further said fund management earnings per share (FMEPS) for the year ended 30 September are however…

17 Nov

Otjikoto mine different ball game…. Incentives won’t be enough

info_e12wt4csObserver MoneyOtjikoto mine different ball game…. Incentives won’t be enough

Chamwe Kaira While Namibia has a history of providing mining companies with tax breaks to help them stay afloat and extend the life of mine, the situation with gold producer, B2Gold Namibia is different because the ore body at its Otjikoto mine is depleted. “Unfortunately, our case is a situation where the ore body has been depleted. Even if we had a tax break, free diesel or didn’t have to pay any taxes, we would not continue because we simply because we don’t have any ore left to mine by end of 2025, as we go gradually through our phased…

17 Nov

Oryx to expand portfolio to N$4.5 billion

info_e12wt4csObserver MoneyOryx to expand portfolio to N$4.5 billion

Chamwe Kaira Oryx Properties plans to expand its property portfolio from N$3bn to N$4.5bn by 2025. In addition, it will considerably diversify their portfolio in relation to existing concentration. Oryx recently partnered with RMB Namibia on landmark acquisition of Dunes Mall acquisition of Dunes Mall in Walvis Bay, in a landmark transaction worth N$630 million. Oryx Properties is the largest property fund in Namibia. This strategic deal sees Oryx expand its retail asset portfolio, with RMB providing debt funding of N$500 million to realise the acquisition and refinance an existing N$100 million loan. RMB said was able to secure the…