Observer – Page 488 – Windhoek Observer

12 May

More companies looking for lithium

ObserverObserver Money

CHAMWE KAIRA While the focus in recent weeks has been the controversies surrounding the revocation of the lithium mining issued to Xingfeng investments by Minister of Mines and Energy, Tom Alweendo data obtained from the Chamber of Mines of Namibia show more companies are looking for lithium in Namibia. The demand for lithium has increased as the auto industry shifts towards electric vehicles (EVs) - spurred by proposed bans on fossil-fuel cars. China is the world’s top lithium refiner. One of the companies looking for lithium is Lepidico, which is a global lithium exploration and development company that is listed…

12 May

Petroleum topped import bill in March

ObserverObserver Money

The highest import bill in March was petroleum (N$2.2 billion), followed by copper (N$1.5 billion) and vehicles for the transport of goods N$622 million, this is based on trade statistics released by the Namibia Statistics Agency. According to the Namibia Statistics Agency (NSA), 145,345 tonnes of goods have exited the country by road in March 2023, compared to 138,875 in February 2023. Most of the road transport consisted of petroleum, fish, and live animals. Commenting on the trade statistics, Simonis Storm Securities, said due to the loadshedding in South Africa, the harbors cannot run at full capacity allowing for more…

12 May

We need support to promote Namibia- Gys Joubert, Gondwana Collection Namibia CEO

ObserverObserver Money

This week Observer Money speaks to Gys Joubert, Gondwana Collection Namibia CEO about business in the aftermath of Covid-19. Observer Money (OM): Describe Gondwana’s recovery from the Covid 19 pandemic? Gys Joubert (GJ): I would describe it as measured. We are grateful that tourism is returning on quite an aggressive trajectory, but the impact of COVID-19 will linger for years to come. We turned profitable in the second half of 2022 and the changes and decisions we made during COVID-19 are enabling our ability now to repay debt incurred during the crisis. (OM): What is the current state of the…

12 May

Motorists can expect local fuel price cuts

ObserverObserver Money

Motorists can expect local fuel price cuts to be announced in coming months, however this is based on several factors. Simonis Storm Securities said it seems that its initial forecast of reaching N$25 per litre for petrol and diesel by end of 2023 are too pessimistic at this point in time. However, the improved outlook remains conditional on global brent remaining flat to slightly negative and for the rand to appreciate, the firm said. Ministry of Mines and Energy has disclosed an over-recovery of N$1.11 per litre on diesel and an under-recovery of N$0.95 per litre on petrol. As customary,…

12 May

Hyphen’s US$10 billion project eyes 2028 supply

ObserverObserver Money

Hyphen Hydrogen Energy’s US$10 billion green hydrogen project in the //Kharas Region is eying to supply Europe by early 2028. This week, Hyphen Hydrogen Energy signed a Letter of Intent with Koole Terminals covering the proposed import of green ammonia into north-western Europe. Hyphen intends to supply its customers using the import terminal being developed by Koole Terminals, located in the Port of Rotterdam, Netherlands. Over the past year, Hyphen has signed Memorandums of Understanding (MoUs) targeting the supply of up to 750 000 tonnes of green ammonia annually. Marco Raffinetti, CEO of Hyphen Hydrogen Energy, said: “This agreement represents…

12 May

Seibeb says Uutoni has no mental capacity

ObserverNational News

Stefanus Nashama Landless People’s Movement Member of Parliament, Henny Seibeb, says Urban and Rural Development Minister, Erastus Uutoni has no mental capacity to analyse and investigate before writing a letter to the Mayor of Keetmanshoop. The Parliamentarian made these remarks yesterday at a press conference in response to Minister Uutoni who apparently wrote a letter on 5 May to the Keetmanshoop Municipality, in which he allegedly claimed the Council has allocated unserviced land to the residents. Seibeb said the Minister has relied on rumours and gossip in writing a letter, “he has no evidence that unserviced land was distributed”. “Uutoni…

12 May

PM given 25 days to resolve the mass housing conundrum

ObserverNational News

The Popular Democratic Movement and Official Opposition leader, Mchenry Venaani, has given Prime Minister Saara Kuugongelwa-Amadhila 25 days to resolve the issue of 890 unoccupied houses that were built as part of the mass housing program dating back seven years ago. Venaani said yesterday that failure to respond to the letter issued on the of 20th July 2022, will prompt the PDM and other progressive forces to demonstrate and even to take up arms in solidarity. He said that not allocating these 890 vacant houses to families in dire need, warrants a direct violation of Article 8 (2) (b) of…

12 May

Cloven-hoofed animals must be supplied south of the Red Line

ObserverNational News

Stefanus Nashama Popular Democratic Movement Leader, McHenry Venaani, has called on the Minister of Agriculture, Water and Land Reform, Calle Schlettwein to speed up the process of targeted interventions and modalities for cloven-hoofed animals to be supplied south of the veterinary cordon fence also known as the Red Line. Venaani said this is appropriate to ensure that veterinary facilities such as quarantine facilities and all related agricultural infrastructure and architecture are of the necessary quality to provide farmers north of the Red Line with the necessary access to the lucrative markets available to farmers to the south of the line.…

12 May

Robust petroleum policy must benefit all Namibians

ObserverNational News, Uncategorised

Niël Terblanché The development of a sturdy National Upstream Petroleum Local Content Policy and eventual implementation thereof will enable Namibians from all walks of life to participate in the country’s exciting hydrocarbon future. Local Content Policies (LCP) have become a key priority of host governments and industry players alike. Increasingly more resource-rich developing countries are enacting local content legislation as a means of maximising the benefits to be gained from petroleum and other industries. Given this reality, the Namibian Government have equally decided to adopt this instrument with the objective to increase local participation in the value chain of goods…

12 May

NWR records an increase in revenue

ObserverNational News

Staff Writer Namibia Wildlife Resorts (NWR) recorded a revenue of N$290 million during 2022. This is according to the company’s annual report to the Ministry of Finance and Public Enterprises, Minister Ipumbu Shiimi. “During the year under review, NWR managed to cut its operating loss by 66%, from N$97 million in 2021 to N$33 million in 2022. Revenue improved by 74%, from N$167 million in 2021 to N$290 million,” said Nelson Muremi Ashipala, NWR Manager of Corporate Communications in the report. In addition, he said the company achieved a clean audit for the first time, indicating its commitment to effective…