Windhoek Observer – Page 9 – Windhoek Observer

19 Nov

OBSERVER DAILY | GIPF: It’s déjà vu all over again

Editorial, Featured, Opinions

Once again, Namibia finds itself staring into a familiar abyss, an abyss carved by misjudged investments, blurred oversight, and a dangerous institutional culture of “explanations without consequences”. The revelation that the Government Institutions Pension Fund (GIPF) has impaired a staggering N$815 million through its exposure to the South African-based Signal Structured Finance Fund (SSFF) is not just another line item in an audit report. It is a reminder of past failures, a warning of present vulnerabilities, and a test of our collective commitment to accountability. For many Namibians, particularly pensioners whose livelihoods depend on the prudent stewardship of their savings,…

19 Nov

New SA inflation target expected to lower prices in Namibia

Uncategorised

Chamwe Kaira The Bank of Namibia (BoN) has welcomed South Africa’s new inflation target, announced on 12 November, which lowers the previous 3 to 6% range to 3% with a 1% tolerance band. Director of strategic communications and international relations, Kazembire Zemburuka, said the decision will affect Namibia as a member of the common monetary area (CMA). He said the lower target is expected to lead to lower inflation and a reduction in interest rates in South Africa over the medium to long term. He said BoN's analysis shows that a 3% target in South Africa will result in low…

19 Nov

Nedbank names new energy leader to its board

Energy, Observer Money

Staff Writer Nedbank Group has appointed energy executive George Njenga to the boards of Nedbank Group and Nedbank Limited as an independent non-executive director, effective 1 December 2025. He will also join the bank’s Sustainability and Climate Resilience Committee. Njenga has more than 30 years of experience in renewable energy, power generation, and large infrastructure projects across Africa, the Middle East, and Asia. He is the executive chairman of Lake Turkana Wind Power, Sub-Saharan Africa’s largest wind energy project. He has also served as CEO of A.P. Moller Capital’s East Africa platform and led GE Renewable Energy’s Grid and Hydro…

19 Nov

Rising nuclear investments to accelerate industry growth

Energy, Observer Money

Chamwe Kaira Paladin Energy chairman Cliff Lawrenson says the expansion of nuclear capacity in many countries will drive industry growth, especially in the 2030s. He said a new uranium supply takes more than a decade to reach the global market because of strict approval systems, and in some countries with large resources, such as Australia, restrictive public policies also limit development. Lawrenson said more nations are investing in new or expanded nuclear power to meet decarbonisation and energy security goals. He noted that while European countries are focused on transforming their energy mix, the United States is prioritising nuclear energy…

19 Nov

New Old Mutual CEO gets R300m incentive

Observer Money

Jurie Strydom, the new CEO of Old Mutual, could earn as much as R300 million under a new outperformance plan designed to “unlock significant and sustained shareholder value”. The board admits that “since 2018, the company’s share price has not met expectations and continues to trade at a discount to group equity value.” This new incentive is “structured to align executive performance directly with the long-term interests of shareholders”. Strydom, who joined as CEO earlier this year after Iain Williamson indicated his decision to retire, was previously CEO of Alexforbes Life, Regent Insurance, and Sanlam Life and Savings. He was…

19 Nov

MTC opens fifth mobile home of the year in Divundu

Observer Money

Staff Writer Telecommunication giant MTC has opened its first mobile home in Divundu, bringing its national footprint to 39 outlets. The shop was officially opened by information and communications technology minister Emma Theofelus. Speaking at the event, Theofelus said access to information and communication services depends on deliberate investment in infrastructure. “Inclusivity can only be achieved when we intentionally invest and make information and communication infrastructure easily and affordably accessible,” she said. She noted progress in network coverage and digital transformation and urged MTC to continue expanding services. This year, MTC opened five new mobile homes. Omuthiya and Divundu received…

19 Nov

From discovery to delivery: Strategic readiness for Namibia’s first oil

Energy, Observer Money, Opinions

Nelson Lucas Namibia stands on the cusp of a transformative era. With recent oil and gas discoveries positioning us as a potential energy powerhouse in sub-Saharan Africa, the path to first oil is no longer a distant vision; it is a fast-approaching reality. But the journey from discovery to production is not automatic. It demands readiness, collaboration, and strategic decision-making at every level of our economy and society. Our trajectory can draw valuable lessons from countries like Guyana, which moved from discovery to first oil in just four years, a world record in the oil and gas sector. Their success…

18 Nov

UK to strip Namibian VIPs and diplomats of fast-track visa access …immigration reforms used to win votes, analyst warns

Main

Justicia Shipena The United Kingdom (UK) plans to remove fast-track visa services for Namibian diplomats and VIPs as part of a penalty system aimed at countries that do not take back people the UK classifies as illegal migrants and foreign criminals. Angola and the Democratic Republic of Congo (DRC) are also listed under the planned measures. The UK says the three countries have refused to repatriate more than 4 000 unauthorised immigrants and offenders. If cooperation does not improve within a month, the restrictions will escalate to a full visa ban on all citizens. UK home secretary Shabana Mahmood announced…

18 Nov

High Court judge withdraws from Entrepo case over friendship link

National News

Renthia Kaimbi Acting High Court judge Reinhard Tötemeyer has stepped down from hearing the government’s urgent case against Entrepo Finance. He withdrew after revealing a longstanding friendship with the company’s chief executive officer. Tötemeyer's recusal has now paused the matter until a new judge can be appointed. The revelation came as a surprise to legal teams, who expected any personal connections to be disclosed at the start of proceedings. Judicial ethics mandate the early declaration of potential conflicts, enabling all parties to evaluate the judge's impartiality. The Ministry of Finance and the Prime Minister applied for his recusal. They argued…

18 Nov

Former Ongopolo MD says asset sales were legal

National News

Renthia Kaimbi Former Ongopolo Mining managing director Andre Neethling has defended the sale of company properties. He said the transactions were lawful, approved by the board and intended to keep the business afloat. His comments follow a Windhoek Observer report detailing allegations that former executives sold multi-million-dollar assets for “pennies” during liquidation, leaving the Government Institutions Pension Fund (GIPF) and the Tsumeb community without recovery. Neethling said the criticism ignores the facts. He provided a timeline, stating that Tsumeb Corporation Limited was in liquidation from 29 April 1998 to 13 March 2000. Ongopolo later operated with its own capital and…