Observer – Page 487 – Windhoek Observer

28 Jul

Diamonds fetch higher outside De Beers

ObserverObserver MoneyDiamonds fetch higher outside De Beers, Namib Desert Diamonds Pty Ltd (Namdia)

CHAMWE KAIRA The government of Namibia will be in a position to negotiate for an improved sales agreement with De Beers using Namib Desert Diamonds Pty Ltd (Namdia) price recovery system that saw Namibian diamonds sold outside the De Beers system getting as much as more than 12% compared to De Beers’ diamond prices. Namdia is a wholly owned government diamond trading company that exclusively sells diamonds outside the De Beers system. The company is entitled to 15 percent of diamonds processed by the Namibian Diamond Trading company consisting of 22.6 percent above 2 carats, 76.2 percent below 2 carats…

28 Jul

Uranium earnings surged to N$3.5 billion

ObserverObserver Moneystronger uranium export, Uranium earnings surged to N$3.5 billion

Uranium export earnings surged to N$3.5 billion for the first quarter of 2023 from N$1 billion recorded in the same period in 2022. “This could be attributed to a stronger uranium export volume and the depreciation of the domestic currency. The higher export volumes were triggered by a low base effect, as shipping vessels were unavailable during the corresponding quarter of 2022,” said research firm, High Economic Intelligence. Namibia is one of the world’s top producers of uranium ranking second only to Kazakhstan. The country produces around 10% of the world’s global uranium production mainly from its large uranium mines…

28 Jul

Nations urged to enhance collective security

ObserverNational NewsNations urged to enhance collective security

Niël Terblanché Geopolitical instability influences the balance of power between nation-states leading to uncertainty, tensions, and conflicts which pose a challenge to maintaining international security. Netumbo Nandi-Ndaitwa, Namibia’s Deputy Prime Minister and Minister of International Relations and Cooperation in her capacity as the SWAPO Party Vice addressed an international roundtable discussion on international security in the context of geopolitical instability and inter-party cooperation in St Petersburg, during the Russia Africa Summit and said the people of Namibia and that of the host country have a long strong cooperation that will be cherished. “The SWAPO Party is honoured to have been…

28 Jul

Namibian President admitted to hospital again

ObserverNational NewsNamibian President admitted to hospital again, president Hage Geingob

Niël Terblanché President Hage Geingob was admitted to a hospital in Windhoek for a follow-up procedure on the aortic valve procedure he underwent in South Africa on 8 June 2023. According to a statement issued by the Namibian Presidency, the procedure in Windhoek went according to plan and Dr Geingob is in good spirits. In June President Hage Geingob was flown to South Africa to undergo a preventative surgical procedure after the presidential medical team detected a mild aortic stenosis during a routine medical checkup. At the time the medical staff advised that President Geingob be flown to South Africa…

28 Jul

Namibia admitted to the UN Water Convention

ObserverNational NewsNamibia admitted to the UN Water Convention

Martin Endjala Namibia’s accession on 8 June 2023 to the United Nations Water Convention, made it the first Southern African country to the organisation. The landmark step will help Namibia to consolidate its long-standing commitment to transboundary water cooperation in Southern Africa. By joining the convention, Namibia aims to enhance water security and foster socioeconomic development for its population of 2.5 million people. By signing the UN Water Convention, Namibia has become the first country in southern Africa and the eighth country in Africa to join. The Water Convention, otherwise known as the Convention on the Protection and Use of…

28 Jul

Chinese company seek relief for N$ 33 million worth of income tax

ObserverNational NewsChinese company seek relief for N$ 33 million worth of income tax

Hertta-Maria Amutenja A Chinese construction company is seeking interim relief in the High Court of Namibia while alleging that N$33 031 543.04 was transferred from its bank account to the Bank of Namibia. The money is allegedly the total and combined tax payable in respect of income tax that was owed to the Namibia Revenue Agency (NamRa) by the Zhong Mei Engineering Group. The company claims it was only informed in an audit exit meeting, which they claim they were not aware of, on 7 July 2023 that it owed that amount and it was due or payable prior on…

28 Jul

SORED establishment on track

ObserverNational NewsSORED establishment on track

Martin Endjala The establishment plans of a Southern Regional Electricity Distributor (SoRED) which emerged in 2014, have received the blessings of the Ministry of Urban and Rural Development. The development follows a recent circular from the ministry’s Executive Director, Daniel Ngidinua which stated that shareholding and asset transfer agreements have been approved. The circular stated that the granted approval by the Ministry as advised by the Attorney General’s Office is set with conditions. The circular stated that the proposals, comments and changes made by the AG’s office must be inserted before the agreements are signed and copies sent copies of…

28 Jul

Trillions are lost to cybercrime

ObserverNational NewsCybersecurity Ventures, Trillions are lost to cybercrime

Martin Endjala With Cybercrime and cybersecurity constantly evolving and new threats emerging every year in different forms, there is a high risk of trillions of dollars getting lost to thieves. According to Cybersecurity Ventures, the cost of cybercrime in 2023 is predicted to hit a staggering N$141 trillion and is expected to further grow to N$176 trillion by 2025,. “This is trillion, not billion, more than Apple and Amazon are worth combined, and that’s just in one year, and every day we go online, our devices are Internet-enabled, and we rarely think about the security risks we take and how…

28 Jul

NBL and Nafau sign wage increase deal

ObserverNational NewsNamibia Breweries Limited (NBL) and the Namibia Food and Allied Workers Union (NAFAU), NBL and Nafau sign wage increase deal

Martin Endjala Namibia Breweries Limited (NBL) and the Namibia Food and Allied Workers Union (NAFAU) recently agreed to sign a substantive wage increase agreement for the 2024 financial year. As part of the new agreement, the two parties have agreed on an overall increase of 7.5 percent in basic salaries for NBL employees. The agreement is for all bargaining unit employees and applicable for the period 1 July 2023 to 30 June 2024 and 1 April 2023 to 30 June 2024 respectively. The company’s Corporate Affairs Manager, Surihe Gaomas-Guchu said that it will continue with the current incentive scheme that…

28 Jul

Lucrative Health Tender alive again

ObserverMainLucrative Health Tender alive again

Niël Terblanché The High Court of Namibia has finalised the matter between Taliindje Investment CC’s and 92 respondents with regard to the tender to supply N$141 million worth of clinical gloves to the Ministry of Health and Social Services. The court condoned the closed corporation’s application for non-compliance with the forms and services as provided by the rules of the court and at the same time ordered that the Central Procurement Board (CPB) fully comply with an order to review the closed corporation’s removal as a supplier of clinical products. Taliindje Investments is owned by Helena Figura. She is listed…