Blog – Page 17 – Windhoek Observer

19 Nov

Mine workers to buy Namitvest shares through salary deductions

National News

Justicia Shipena Mine workers at Rosh Pinah Zinc Corporation will now be able to buy Namitvest shares through salary deductions. This follows the signing of a Payroll Deduction Agreement between the company and Namitvest this week. The deal allows Mine Workers Union of Namibia (MUN) members employed at the mine to purchase shares at a 50% discount and repay the cost through interest-free installments over 60 months. Workers will keep full ownership of the shares they have paid off even if they leave the mine. The agreement aims to enhance worker participation and expand access to investment opportunities in the…

19 Nov

High Court blocks bid to add Germany to genocide challenge

National News

Justicia Shipena The High Court ruled on Tuesday that Germany will not be joined as a respondent in the case challenging the 2021 joint declaration between Namibia and Germany on the 1904 to 1908 Ovaherero and Nama genocide. The court also rejected a request to serve Namibian court documents on Germany in Germany, saying it has no jurisdiction to do so. The Landless People's Movement (LPM) leader Bernadus Swartbooi, the Ovaherero Traditional Authority, ten Nama traditional authorities, and the LPM are challenging the case. They argue that the declaration violates the rights of genocide descendants and ignores a 2006 parliamentary…

19 Nov

New committee to oversee seal management and trade

National News

Renthia Kaimbi Namibia has launched the seals subsector technical committee to guide the development of an ethical and sustainable seal industry. The move follows a theft of seal genitals valued at N$1 million at a Henties Bay processing factory that exposed the strong demand for seal products. Thieves stole 696 pieces of bull seal genitals and 2 225 smaller pieces were taken. The new committee will operate for three years under the Ministry of Agriculture, Fisheries, Water and Land Reform. Its task is to build a responsible seal subsector that supports economic growth. The ministry's executive director, Teofilus Nghitila, said…

19 Nov

Africa bears brunt of rising conflict-driven hunger, FAO warns

National News

Justicia Shipena Africa is bearing the greatest burden of conflict-driven hunger, the United Nations (UN) Security Council heard at its high-level debate on food insecurity in New York on Monday. FAO chief economist Máximo Torero said the continent accounts for nearly half of the world’s undernourished population and is at the centre of a worsening hunger-conflict crisis. Torero said 307 million Africans lack sufficient food out of 673 million hungry people globally. He said these numbers represent children whose growth is stunted, families forced to leave their homes and countries under strain. He told the council that hunger has become…

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…