Blog – Page 13 – News Stand

10 Apr

‘Enhanced digital security measures are needed in the face of rising cyber threats’ – Theofelus

info_e12wt4csNational News

Niël Terblanché Namibia is confronting an alarming surge in cyber threats, with over 1.1 million incidents recorded in 2024 alone. These attacks have targeted businesses, government entities, and individuals, leading to substantial financial losses and data breaches. Telecom Namibia suffered a major ransomware attack in December 2024, resulting in the exposure of sensitive customer data. The hackers, identified as the group Hunters International, leaked approximately 626 gigabytes of data after the company refused to pay the demanded ransom. In a related incident, scammers exploited the likeness of former First Lady Monica Geingos to perpetrate investment fraud. Using manipulated videos and…

10 Apr

Ballotti secures sponsorship from Pstbet for all newspaper cup teams

info_e12wt4csSports

Erasmus Shalihaxwe Deputy Minister of Education, Innovation, Sport, Arts and Culture, Dino Ballotti, has secured sponsorship for all 14 regional teams set to compete in the 2025 Nedbank Newspaper Cup. Ballotti announced on Thursday that betting company Pstbet will provide N$10 000 to each regional team to cover expenses for the Easter Youth Tournament, which will be hosted in Outjo during the Easter weekend. The announcement follows reports that the Ohangwena regional team was stranded without funds for accommodation, playing kits, and extra tracksuits. The team’s old gear was reportedly taken by previous officials who had managed the squad in…

10 Apr

Thesis, anti-thesis & synthesis on the role of the leader of the official opposition in Namibia

info_e12wt4csOpinions

PAUL T. SHIPALE (with inputs by Folito Nghitongovali Diawara Gaspar) Abstract This article critically examines the constitutional status of Namibia’s Leader of the Official Opposition, a position declared unconstitutional by Panduleni Itula of the Independent Patriots for Change (IPC). Employing a dialectical analysis (thesis-antithesis-synthesis), the study explores the tension between statutory deficiencies and parliamentary conventions that underpin the office. By situating Namibia’s semi-presidential hybrid system within a global comparative framework, including France and Zambia, the article argues that, while the role lacks constitutional grounding, its functional necessity in a democratic system warrants formal legislative codification. It concludes with recommendations for…

10 Apr

BoN mobilised N$15 billion domestic funding for 2024/25

info_e12wt4csObserver Money

CHAMWE KAIRA The Bank of Namibia mobilised just over N$15 billion in alignment with the government’s domestic funding needs for the 2024/25 fiscal year, governor Johannes !Gawaxab told an investors conference this week. “This funding was secured at favourable pricing. Funding was strategically secured across nominal bonds, inflation-linked bonds, and treasury bills, the governor said. He pointed out that investor appetite remained strong, with auctions recording healthy bid-to-cover ratios of approximately two times. Furthermore, he said the government reaffirmed its commitment to redeem the Eurobond maturing in October this year through a disciplined and transparent strategy. The government will also…

10 Apr

TotalEnergies eye 160 000 barrels of oil per day

info_e12wt4csObserver Money

CHAMWE KAIRA TotalEnergies EP Namibia and its partners are planning to produce 160 000 barrels of oil per day at their proposed project situated offshore, which will have a storage capacity of around two million barrels of oil and a gas separation capacity of 550 000 million standard cubic feet per day (MMscfd). ThiIt is contained in documents, which form part of its application for environmental clearance of the project. TotalEnergies EP Namibia B.V., Namcor and Qatar Energy have announced plans to conduct an Environmental and Social Impact Assessment (ESIA) for the proposed development of the offshore Venus Field in…

10 Apr

‘Tariff on the US is 7.5%, not the 42% Trump claims’

info_e12wt4csObserver Money

Kevin Lings, Stanlib Asset Management senior economist, talks to Observer Money about the impact of the 21% tariffs imposed on Namibia by US President, Donald Trump. Observer Money (OM): What do you make of the US government’s recent reciprocal tariff imposed on African countries which includes 21% tariffs on Namibia? Kevin Lings (KL): In general, the level of reciprocal tariffs introduced by the US are significantly higher than expected. It can be argued that the focus on the excessive tariff levels are focused on Asia, Cambodia, Vietnam, Indonesia, Thailand, although sub-Saharan Africa was also an area of focus including Angola,…

10 Apr

US tariffs threaten inflation trajectory

info_e12wt4csObserver Money

CHAMWE KAIRA The imposition of a 21% tariff on Namibian exports by the United States, as part of a broader protectionist trade agenda, could exert notable pressure on Namibia’s inflation trajectory, Simonis Storm has said. The policy forms part of a sweeping tariff strategy that includes a 10% baseline tariff on all US imports, with elevated rates for specific trading partners, including Namibia. “Namibia’s key exports to the US, notably diamonds, uranium, and fish, are directly in the crosshairs of these tariffs. A decline in competitiveness in the US market may lead to reduced export volumes, lower foreign exchange earnings,…

10 Apr

Rangel plans office at Nakop border

info_e12wt4csObserver Money

CHAMWE KAIRA Rangel, the logistics company, will also open a new office in Nakop, on the Namibian border, which will augment its current presence in Zambia and Tanzania. The logistics company entered the South African market in 2020 and has reaffirmed its commitment to helping Africa realise the potential of the African Continental Free Trade Area (AfCFTA) agreement through the additional investment of €6 million (N125.6 million) in a warehouse in South Africa. Covering an area of 10,000 m² near OR Tambo International Airport, the new warehouse will serve as a central hub for Rangel's expanding Contract Logistics offering, as…

10 Apr

NSX’s market capitalization grew to N$46.4 billion

info_e12wt4csObserver Money

CHAMWE KAIRA The Namibia Stock Exchange (NSX) had 12 primary listed companies as at 31 December 2024. The local market capitalisation, representing the total value of locally listed stocks, grew by 1.8% quarter-on-quarter and by 5.2% year-on-year to N$46.4 billion. The Namibia Financial Institutions Supervisory Authority, said in the 2024 Fourth Quarter report that on a quarter-on-quarter basis, the local index rose by 1.3%, and by 2.9% year-on-year to 691 index points as at 31 December 2024. The value of securities traded declined by 93.1% quarter-on-quarter, and by 155.9% year-on year to N$123.9 million as at 31 December 2024. As…

10 Apr

Imports of commercial vehicles from SA increase

info_e12wt4csObserver Money

CHAMWE KAIRA The Southern African Customs Union (SACU) emerged as the biggest export destination for Namibian goods in February with a share of 30.7% of total exports, the Namibia International Merchandise Trade Statistics Bulletin revealed. BRICS and the OECD followed in second and third positions, contributing 23.7% and 23.3% to Namibia’s total exports, respectively. The Southern African Development Community (SADC), excluding SACU, and the European Union (EU) respectively occupied the fourth and fifth positions, accounting for 18.8% and 17.8% of total exports. Exports to SACU consisted mainly of non-monetary gold, while the export basket to the BRICS market was dominated…