Windhoek Observer – Page 504 – Windhoek Observer

01 Aug

Banks have role in economic development

Observer Money

CHAMWE KAIRA Bankers Association of Namibia (BAN) has said the issue of interest rates and perceived high bank charges that props up from time to time was just one of the many issues that was discussed with President Nangolo Mbumba last week. “The meeting was a mere catch up with him on what we have been doing in our space to assist new industries, create employment and assist with economic development. This is an old issue coming from last year that he touched on, with many other constructive issues. So, it’s not a new issue that cropped up now. BAN…

01 Aug

Ohorongo has no immediate expansion plans

Observer Money

CHAMWE KAIRA Ohorongo Cement, which has a production capacity of more than one million tonnes of cement per year, has no immediate plans to expand its operations. “There are no immediate expansion plans. We can do more than one million tonnes of cement per year,” Rudolf Coetzee, general administration manager told Observer Money. Regarding some of the challenges that the company faces in transporting cement, the company said the challenges with railway transportation is linked to the challenges experienced by TransNamib. “We do have a good relationship with TransNamib, and the focus is on maintaining the relationship to the benefit…

01 Aug

Long-term uranium supply under the spotlight

Energy, Observer Money

CHAMWE KAIRA Bannerman Energy Ltd, which is developing the Etango project in the Erongo Region has said following the prohibiting of Russian uranium imports into the United States, uranium buyers quickly shifted their focus from immediate transactions to the long-term effects of the ban. The US has banned uranium imports from Russia as part of sanctions against Russia for its invasion of Ukraine. Brandon Munro, Executive Chairman of Bannerman said many utilities are seeking waiver applications and adjusting their conversion and enrichment strategies to avoid supply interruptions if the waivers are not approved. “Additionally, depending on which entities receive waivers,…

01 Aug

African airlines increase cargo market by 11.8%

Observer Money

The International Air Transport Association (IATA)’s year on year analysis of the African air cargo market in June saw an increase of 11.8% in demand for air cargo by African airlines. IATA said demand on the Africa–Asia market increased by 37.5% compared to June 2023, the strongest performance of all trade lanes. Capacity increased by 23.8% year-on-year. By comparison, the global airline industry reported a 14.1% surge in demand for air cargo transport compared to June 2023 levels boosting first half performance and beating the 2021 all-time record levels of air cargo traffic. June also marked the 7th consecutive month…

01 Aug

Namibia going through a ‘glow up’

Observer Money

JULIE HAUWANGA Our country looks to be going through a ‘glow-up,’ and the world is noticing. Oil and gas exploration, the Green Hydrogen projects that are being developed, and a resurgent tourism sector all bode well for Namibia’s socio-economic future. As a young Namibian, this fills me with joy, but there is also some apprehension. Every day, we hear of an imminent economic boom and the amazing opportunities it will bring our nation. My apprehension stems from my worry about this growth. How can Namibians benefit and prosper from the oil and gas boom and the various green Hydrogen projects?…

01 Aug

Dealer indicted for swapping synthetics for natural

Observer Money

New York diamond dealer Manashe Sezanayev has been charged with stealing from diamond merchants by replacing US$460 000 worth of natural diamonds with synthetic stones. Sezanayev, who operates Rachel’s Diamonds in New York’s diamond district, pleaded not guilty to the charges, which included stealing and fraud, according to a recent release from the Manhattan District Attorney’s Office. In February, Sezanayev made an appointment with a diamond merchant to view two stones he claimed to be interested in buying. During the visit, he allegedly swapped the two natural gems with synthetics he had previously cut to match, while inspecting them. The…

01 Aug

Amidst unabated land theft NIPDB now the new apologist for capitalism?

Opinions

Ownership of land by rich foreign whites was the headline lately in one of the English dailies that seem to awaken many out of their usual slumber that land in Namibia, the little that may be left, if there’s any left from colonial capitalist plunder and thievery, is anything to go by. What is disturbing about this headline it is as if this is new phenomenon in Namibia, whether predating capitalist colonialism and even post capitalist neo-colonialism as pertaining today in an independent and free Namibia. The colonial agenda has been and is still about the natural resources of the…

01 Aug

“Bridging the Gap: The Impact of Transportation Infrastructure on Namibia’s Economic and Social Equity”

Opinions

Tomas Nashongo Access to reliable public transportation is a catalyst for urban mobility, linking individuals to socio-economic opportunities and employment. Public transportation serves as a lifeline, connecting people to essential services and financial activities. However, in Namibia, the legacy of apartheid—a policy of political, social, and economic discrimination against non-white people—has left many without adequate access to transportation. Orcutt explains that apartheid-era policies marginalized certain communities, restricting their mobility and access to transportation services. This deliberate exclusion not only limited access to transport but also preserved economic inequalities by denying people opportunities for work, social interaction, and cultural engagement. The…

01 Aug

COMPANIES FINED:

Latest

The Namibia Competition Commission (NaCC) has fined several Chinese companies in the cement industry N$5 million for merging without notification to the relevant authorities. According to the NaCC, the companies merged without its approval. The decision to mete out the fine comes after the High Court ruled in favour of NaCC on Monday. The companies are Fan Qingmei, Wang Zhonkge, Hong Xiang Holdings and Whale Rock Cement which owns Cheetah Cement.Report: Martin Endjala.

31 Jul

Okongo Village Council employees grab low-cost houses

Main

Ester Mbathera and Martin Endjala Officials of the Okongo Village Council have allocated low-cost houses to themselves. Senior council members received the houses intended for low-income families in the village, despite their ineligibility based on salary criteria. Documents obtained by the Windhoek Observer reveal that Maria Shikomba, a senior accountant, Maria Kaluvi, the head of administration, and Abraham Kapembe, the building inspector at the Okongo Village Council, allocated themselves houses under the Build Together National Housing Programme. This programme specifies a maximum salary threshold of N$6 000 for eligibility, which the officials exceed by several degrees. According to the documents,…