Windhoek Observer – Page 695 – Windhoek Observer

12 Jan

Diamond developments to watch

Observer Money

Rapaport has outlined five developments to watch this year. These include US sanctions on Russia that came a long way in 2023, with US President Joe Biden signing an order banning Russian diamonds even if they were manufactured in a third country. The European Union has also announced sanctions and outlined some of the rules for how they will work. However, many unanswered questions remain. It’s likely that 2024 will shed more light on the finer details. The other issue is the De Beers-Botswana deal. Following long and sometimes strained negotiations, the government of Botswana has reached an agreement with…

12 Jan

NamRA launches second time release study at Trans Kalahari Border Post

National NewsNamRA launches second time release study at Trans Kalahari Border Post

Niël Terblanché The Namibia Revenue Agency (NamRA) has announced the commencement of the second Namibia Time Release Study (TRS) at the Trans Kalahari Border Post in the Omaheke Region The Time Release Study, set to take place from 15 to 25 January 2024 is an internationally recognized tool developed by the World Customs Organisation (WCO), serves as a strategic method to measure the actual time required for the release and/or clearance of goods. According to Yarukeekuro Ndorokaze, the Chief of Communications and Support Engagements of the NamRa, the process involves tracking cargo from the moment of arrival until its physical…

12 Jan

Debswana approves Jwaneng project

Observer Money

The Board of Debswana, the 50:50 diamond mining joint venture between De Beers Group and the Government of the Republic of Botswana, has announced that it had approved investment for a key development phase of the Jwaneng underground project, paving the way for the world’s most valuable diamond mine to transition from open pit to underground operations. The US$1 billion (BWP 13.6 billion) investment in this phase of works, known as the Exploration Access Development Phase, is for establishing a drilling platform to facilitate comprehensive sampling of the kimberlite pipes, delivering the early access decline for the underground mine and…

12 Jan

South Africa argues genocide case at UN top court

National NewsSouth Africa argues genocide case at UN top court

Staff Reporter On the first of two days of legal arguments at the International Court of Justice, South Africa’s Justice Minister presented his country’s case against Israel whom they accuse of genocide in its war in Gaza. Justice Minister Ronald Lamola said on Thursday that Israel’s response to the 7th of October 2023 attack had crossed a line “and gives rise to the breaches of the convention.” South Africa launched its case at the United Nations’ top court in November and has asked the ICJ to order an immediate halt to Israel’s military campaign in Gaza. South African lawyer Adila…

12 Jan

Auto executives less confident

Observer Money

Auto executives around the world are entering 2024 with less confidence that the industry will achieve more profitable growth over the next five years, according to the latest KPMG Global Automotive Executive Survey. The survey of more than 1000 senior executives in thirty countries and territories reveals a dip in optimism as the sector deals with concerns over the global economy and rising costs. Overall, just 34% of executives said they are extremely confident versus 41% in the previous year. In Japan, the share of executives surveyed who are extremely confident dropped from 32% last year to 10% in the…

12 Jan

Air cargo markets stronger

Observer Money

The International Air Transport Association (IATA) has released data for November 2023 global air cargo markets indicating the strongest year-on-year growth in roughly two years. This is partly due to weakness in November 2022, but also reflects a fourth consecutive month of strengthening demand for air cargo. Global demand for air cargo, measured in cargo tonne-kilometres (CTKs), increased by 8.3% compared to November 2022. For international operations, demand growth was 8.1%. Capacity, measured in available cargo tonne-kilometres (ACTKs), was up 13.7% compared to November 2022 (+11.6% for international operations). Most of the capacity growth continues to be attributable to the…

12 Jan

FlyNamibia Cancels Flights Due to Safety Regulatory Concerns

National NewsFlyNamibia Cancels Flights Due to Safety Regulatory Concerns

Stefanus Nashama FlyNamibia was forced to cancel all flights to and from Lüderitz Airport due to regulatory safety issues that arose at the coastal town’s airport. The airline explained that the cancelled flights were originally scheduled for yesterday, but they had to be called off due to unforeseen mechanical problems. FlyNamibia maintained that passenger safety remains their top priority. The airline expressed regret for the inconvenience caused by the cancellations. They clarified that the issue was related to a mechanical problem with a fire-fighting vehicle operated by the Namibia Airports Company (NAC). This vehicle is crucial for ensuring passenger safety…

12 Jan

Namibia’s digital transformation journey gains momentum

National NewsNamibia’s digital transformation journey gains momentum

Niël Terblanché Namibia is gearing up for a profound digital transformation, with an unwavering commitment to leveraging digitalization for prosperity. Audrin Mathe, the Executive Director of the Ministry of Information and Communication Technology, stressed the crucial role of governance and strategic foresight in this digital evolution. Speaking at the official opening of a workshop earlier this week, Mathe reiterated that digitalization had moved beyond being a mere option; it was now an imperative for Namibia’s development. He stressed the significance of crafting a focused vision for the country’s digital future, laying the foundation for this transformative journey. One of the…

12 Jan

Mayor unveils ambitious plans for Swakopumnd in 2024

National NewsMayor unveils ambitious plans for Swakopumnd in 2024

Niël Terblanché The Mayor of Swakopmund Dina Namubes outlined the ambitious goals and plans that the Town Council has set in motion for the year 2024. The mayor called for unity, optimism, and a commitment to sustainable development in the coastal town. “As the mayor of our beautiful town of Swakopmund, I have the great pleasure of expressing our goals for 2024. I hope that we ring in the new year safely and with respect for everyone,” she said while the tone for a year of hope and progress. Namubes emphasized the importance of leaving the past behind and embracing…

12 Jan

Do not turn a blind eye to mismanagement of school funds – Steenkamp

MainDo not turn a blind eye to mismanagement of school funds - Steenkamp

Do not turn a blind eye to mismanagementof school funds - Steenkamp Martin Endjala Sanet Steenkamp, the Executive Director of the Ministry of Education, Arts, and Culture, has strongly criticized school leaders for their abuse of power and their failure to address issues of maladministration and mismanagement of school funds. She insisted on the need for school officials to take a stand against these issues rather than turning a blind eye to them. Steenkamp expressed her concerns about divisions within schools, which have escalated to a point where they demand the attention and expertise of educational authorities. She called on…