Windhoek Observer – Page 698 – Windhoek Observer

08 Mar

Celebrating 40 Years of Volleyball Excellence with the DOC Tournament

Sports

In a celebration of four decades of volleyball, the Namibia Volleyball Federation (NVF) is gearing up to host the 40th anniversary of the esteemed DOC Tournament. Scheduled to take place at the MTC Dome in Swakopmund on March 30th and 31st, 2024, this event marks a pivotal milestone in Namibian volleyball history. Named in honor of Dr. Juergen Munz, affectionately known as Doc, a distinguished dentist and pioneer of Namibian volleyball during the 1970s and 1980s, the DOC Tournament holds a special place as a historical cornerstone in the country’s sporting landscape. Bank Windhoek, the principal sponsor for the past…

08 Mar

With capitalism shall there one day ever be no more hunger, shacks in Namibia?

Opinions

THERE are two unpalatable truths that must sooner rather than later dawn on the leaders of the South. As much as the world economic order is no longer based on and determined by the East and West polarity, the cold war as was then, the world is still very much based on the rich and poor, with the South, richly endowed naturally as it may be, still being poor and destined to given the status quo of the world economic order of so-called equality. While the North, that has been siphoning off the natural resources of the South, continuing to…

08 Mar

Namibia Dairies taking steps to conserve water

Observer Money

The City of Windhoek recently said the current estimates indicate that the Central Area of Namibia (CAN) will not have an adequate water supply to bridge the next two rainy seasons. Observer Money asked Namibia Dairies how it plans to cope with the situation. Observer Money (OM): What has Namibia Dairies done since the last drought to conserve water? Namibia Dairies (ND): Considering the challenges posed by recurrent drought conditions in our region, Namibia Dairies, a subsidiary of the Ohlthaver & List (O&L) group, has been unwavering in our commitment to water conservation. This dedication is not only a reflection…

08 Mar

Namibia had positive impact on Santam earnings

Observer Money

South Africa remains Santam Limited most significant contributor to Gross Written Premium (GWP) at 84% (2022: 85%), with GWP from this market increasing in line with inflation by 5% to R31.5 billion (2022: R30 billion). GWP from outside South Africa, written on the Santam Ltd and Santam Namibia Ltd licences, made up 16% (2022: 15%) of total GWP and grew by 7% to N$5.8 billion (2022: N$5.5 billion). Santam said growth in the proportion of business written outside of South Africa was hampered by the cancelled business at Santam Re. Santam said it once again demonstrated its resilience, achieving strong…

08 Mar

Guarantees to public enterprises reach N$9.3 billion

Observer Money

Government guarantees extended to public enterprises are expected to increase slightly to N$9.3 billion in the 2024/25 financial year compared to the revised estimate of N$9.1 billion in the 2023/24 financial year. Of these guarantees, N$2.2 billion was issued to domestic financial institutions while N$7.1 billion is issued to foreign lenders. For the subsequent years of the Medium Term Expenditure Framework (MTEF), total government guarantees are expected to rise to N$9.8 billion. The newly issued guarantees in the 2023/24 financial year were in support of entities such as Meatco and Namcor for business rescue and recapitalisation, and the Namibia Student…

08 Mar

Extra 110MW for power grid

Observer Money

CHAMWE KAIRA Namibia’s electricity’s supply is expected to have an additional 110MW locally generated supply by 2025. “This will be supported by more than three renewable energy power project expected to come-on stream by the end of 2025 with a combined power supply of around 110MW,” budget documents showed. The water and electricity sector is set to grow in 2024 and 2025. There are some developments around the solar powered storage-battery system pilot project to cater for the intensity of the UV rays in Namibia, as the current battery systems are not suitable to the Namibian climate as well as…

08 Mar

Oryx’s asset base increases to N$3.78 billion

Observer Money

Following the successful capital raise in July 2023 and the completion of the Dunes Mall acquisition, Oryx Properties’s total asset base has increased to N$3.78 billion. Despite the challenging micro- and macroeconomic conditions, Oryx Properties have maintained its optimism regarding Namibia’s future and are unwaveringly advancing toward fulfilling its strategy to expand the Oryx property portfolio. Ben Jooste, CEO of Oryx Properties Limited said that the group believes that the strategy and expansion of the Oryx portfolio will lead to increased shareholder value and distributions over the medium to long term. Profit for the period ending 31 December 2023 increased…

08 Mar

Fingerings tallying 1,2 million distributed

Observer Money

CHAMWE KAIRA The aquaculture sector produced about 1,253,807 in 2023 as compared to 1,355,000 target and distributed about 779,359 compared to 931,000 target of fingerlings of both distribution catfish and tilapia fish species at five aquaculture centres, according to the 24/25 – 2026/27 fiscal strategy for the medium term expenditure framework. The number of fish farmers and students supported was 257 fish farmers compared to the target of 100 target through training, advisory and extension services, provision of fish feed and fingerlings distribution. In terms of fingerling production and distribution, the programme met 94%, and 84% of the planned targets…

08 Mar

Gambling and gaming earns N$9.3 million

National News

Ministry of Environment and Tourism earned N$9.3 million in 2022/2023 in 2022/2023 financial year from gaming and gambling activities. The ministry plans in the 2024/2025-2026/2027 financial years to secure approval for staff structure and budget in order to operationalize the Gambling Board of Namibia and Lotteries Board of Namibia. Tourism contribution to national GDP is estimated to reach a total N$46.8 billion during 2024/2025 – 2026/2027 financial years, according to the ministry. A total number of 1600 of applications for Environmental Clearance Certificates were received, of which 946 Environmental Clearance Certificates were issued for various activities. 150 sites were inspected…

08 Mar

Labour disputes see 48% settlement rate

National News

The Ministry of Labour, Industrial relations and Employment Creation, achieved 48% of the targeted 67% of the prevention and settlement of industrial disputes, and workplace protection target in 2023. The ministry said a total of 4917 cases were handled through labour dispute resolution mechanism of which 2336 (48%) were resolved and 2 580 were still pending due to postponements. Conciliation remains the preferred method of resolving disputes, with 1 765 (76%) of the disputes resolved through conciliation, while 571 (24%) were resolved through arbitration, according to the ministry. The Employment Equity Commission received a total of 1 043 reports of…