info_e12wt4cs – Page 662

10 Jul

Social grants not a result of Namibia’s struggle for independence- Itula

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Stefanus Nashama The Independent Patriots for Change (IPC) Leader, Panduleni Itula, said that social grants were not created by the struggle for the independence of Namibia nor do political parties provide it. Itula said the government, as stipulated in Article 95 of the Namibian Constitution provides the pension. He said people should understand that even during colonial times, the regime of the day was providing social grants to senior citizens. He stressed that Article 95 of the constitution states that, senior citizens are entitled to regular pensions. Itula stressed that many people especially elders have misunderstood the concept of the…

07 Jul

Green hydrogen could end unemployment

info_e12wt4csObserver Money

Presidential economic adviser and Green Hydrogen Commissioner, Office of the President of Namibia, James Mnyupe gives an update on the current green hydrogen projects in the country. CHAMWE KAIRA (CK): There have been a lot of developments regarding the development of green hydrogen in Namibia. Briefly, give us where we are as a nation in terms of developing green hydrogenprojects? JAMES MNYUPE (JM): Before we consider where we are, it is useful to meditate on where we have come from, because that indeed may give us context on how we got here, where we are going and howmuch confidence should…

07 Jul

Five green and sustainable bonds listed on the NSX

info_e12wt4csObserver MoneyFive green and sustainable bonds listed on the NSX

In this edition, Namibian Stock Exchange CEO, Tiaan Bazuin gives an update on the green bonds listed on the NSX. CHAMWE KAIRA (CK): How many green bonds are listed on the Namibian Stock Exchange, is Namibia the second African country to issue a green bond after signing up to the United Nations’ (UN’s) sustainable stock exchanges initiative? TIAAN BAZUIN (TB); We currently have a total of five green and sustainable bonds listed on the NSX. The market has matured to beyond just a green bond point and are seeing a lot of interest, there is capital that is definitely available…

07 Jul

Electrifying the Oil and Gas sector for a greener future

info_e12wt4csObserver MoneyElectrifying the Oil and Gas sector for a greener future

Martin Endjala The oil and gas sector plays a significant role in the global economy with an intrinsic value of some economic activity, accounting for the movement of goods and services, heating, electricity, pharmaceuticals, and materials such as plastics. This value is expected to grow to USD 8 trillion by 2027 according to others but regardless, growth in its value is phenomenal. This is according to RDJ Publishing and RDJ Group Chief Executive Officer, David Jarrett, in his latest take on the prospects of a greener future. Jarrett said that oil and gas extraction on the Norwegian Continental Shelf (NCS)…

07 Jul

Government to net a quarter billion in next two years in green hydrogen project

info_e12wt4csObserver Money

Martin Endjala Following some scepticism from the public on the government’s 24 percent stake in the Green Hydrogen project, it is projected that government will make a net profit of a quarter Billion Namibian Dollars in the next two years. This is unlike mining or oil where government traditionally receives next to nothing for leasing out the land, for mining exploration licences, for example. It is, however, not the case with green hydrogen, as the government is said to get paid in a region of N$10 000 per licence. This means the government is already being compensated for availing the…

07 Jul

Namibia projects to produce 350 000 tons of green hydrogen

info_e12wt4csObserver MoneyNamibia projects to produce 350 000 tons of green hydrogen

Martin Endjala As the world moves towards a green economy, Namibia’s green hydrogen project is projected to produce 350 000 tons of the gas once it is fully operational. Currently, 90 percent of the world has committed to achieving net zero carbon emissions with the use of solar and wind power as the main source of energy. Big market countries like Japan, China, the USA and Europe are seeking to reach lower carbon emissions but do not have enough land to build green energy plants which makes Namibia a very good prospect in this regard. In a recent media briefing,…

07 Jul

RMB arranged FNB Namibia’s green bond issuance

info_e12wt4csObserver MoneyRMB arranged FNB Namibia’s green bond issuance

RMB in Namibia and RMB’s SA debt capital markets and sustainable finance teams in September last year successfully arranged FNB Namibia’s first green bond issuance in the local debt capital markets. This marked the second issuance of green bonds in Namibia with FNB Namibia raising N$353 million across three- and five-year notes. The proceeds of the green bonds are allocated to eligible green loans applied towards Namibian green buildings and renewable energy generation projects. Sustainability is key to FNB Namibia’s vision of a globally competitive Namibia, and these green bonds mark a major milestone for the country and the bank.…

07 Jul

Rosh Pinah Solar Park comes on stream

info_e12wt4csObserver MoneyRosh Pinah Solar Park comes on stream

CHAMWE KAIRA Emesco’s Rosh Pinah Solar Park is operational with the plant supplying solar PV generated energy as embedded generator to Rosh Pinah Mine, Emesco executive Roger Avice Du Buisson told Observer Money. The first 5.7 MWp phase has been completed and will increase to 15 MWp in phase two to support the expansion of the mine, Du Buisson said. He said N$90 million has been invested in the project and was supported by the Development Bank of Namibia for the debt portion. The plant has 70% Namibian and 30% South African shareholding. “Projects like these are making use of…

07 Jul

SADC urged to strengthen climate finance expertise

info_e12wt4csObserver MoneySADC urged to strengthen climate finance expertise

CHAMWE KAIRA Southern African Development Community (SADC) has been urged to strengthen regulators’ and stock exchanges’ expertise on climate finance, as well as green bonds, so they can play leadership roles. “They have dual roles: implementing appropriate regulations, as well as to support market development,” a market report on the green bond market in the Southern Africa Development Committee (SADC) region prepared for FSD Africa and Committee of SADC Stock Exchanges (CoSSE). The study covered the identification of green bond opportunities in the region, the barriers that hinder their uptake, and recommendations to overcome these. The study informed the development…

07 Jul

Environment and making investment decisions

info_e12wt4csObserver MoneyEnvironment and making investment decisions

Bank Windhoek’s sustainable finance and environmental, social and Governance analyst, Joachim Komeheke says Namibia cannot deny the importance of protecting the environment as these are aspects that determine the modality and functionality of any economy across the globe. “The European Commission defines Sustainable Finance as the “process of taking Environmental, Social and Governance (ESG) considerations into account when making investment decisions in the financial sector, leading to more long-term investments in sustainable economic activities and projects”. Komeheke says for a greater part of human’s existence on earth, especially since the industrial revolution, humans have primarily focused on extraction and growth,…