Blog – Page 273 – News Stand

27 Jun

Swapo lawyers demand N$2 million in security of costs

info_e12wt4csNational News

Ester Mbathera Lawyers representing Swapo in a legal dispute to invalidate the decision made by the party's central committee to postpone the extraordinary congress to 19 April 2025, have demanded security of costs from the applicants. The applicants, Joshua Vaino Martins, Petrus Ndeshipanda Shituula, Aina Kalimba Angula, Reinhold Nghihepavali Shipwikineni, and Erich Chrismann Shivute, filed a Notice of Motion with the High Court of Namibia on 13 June. Gilroy Kasper, representing MKK Incorporated law firm, expressed concern over the applicants' ability to satisfy potential cost orders issued by the High Court. “This is, amongst others, informed by past litigation involving…

27 Jun

ECN accused of excluding LGBTQI+ community

info_e12wt4csMain

Hertta-Maria Amutenja The Electoral Commission of Namibia (ECN) is facing criticism for its lack of gender sensitivity in the voter registration process. The current system only provides options for males and females, excluding non-binary and transgender individuals. This has raised concerns among activists and members of the lesbian, gay, bisexual, transgender, queer/questioning, intersex, and other (LGBTQI+) communities. Transgender woman, Deyonce !Naris said she has been vocal about the issue and has been emphasising the battle for recognition beyond the binary gender options. “It’s really problematic that ECN is not accommodating inclusivity. This whole male and female thing I have been…

27 Jun

ECB withholds NORED tariff approval

info_e12wt4csLatest

The Electricity Control Board has withheld NORED’s tariff approval of 6.6% for not submitting audited, up-to-date financial statements for the 2022 financial year.NORED had initially applied for a tariff of 7.7% before the end of May.This was announced by ECB chief executive officer Robert Kahimise today at the announcement of distribution tariffs.Earlier this month, in a push to pay its debt with NamPower, NORED announced that it would start cutting off electricity supply to customers whose accounts have been in arrears for 30 days or more."Non-compliance with regulatory directives shall not be tolerated,” warned Kahimise.The ECB also withheld the City…

27 Jun

Uninspiring leaders lacking ideology responsible for slow voter registration, likely voter turnout

info_e12wt4csOpinions

Electoral Commission of Namibia (ECN) chief electoral officer Peter Shaama said recently that the ECN during the ongoing voter registration exercise it had then registered 366 036 voters. Which by that time was 21 percent in two weeks. Representing an average of 29 918 registered voters per day during the period 10 to 15 June. With the Khomas region then leading the process with 77 098 registered voters, followed by Ohangwena with 40 122 registered voters. The Zambezi region had registered the least voters (11 381), followed by the regions of Omaheke, Kunene, Hardap and /Karas. This pace may have…

27 Jun

Manganese exports via Lüderitz to increase

info_e12wt4csObserver Money

CHAMWE KAIRA The Walvis Bay Corridor Group anticipates an increase in manganese exports via the Port of Lüderitz, commencing in the third quarter of 2024, CEO Mbahupu Tjivikua disclosed to Observer Money. He noted that indications are that there is a notable growth in cargo volumes, driven by an increasing demand for goods across key markets such as Angola, Botswana, the Democratic Republic of Congo (DRC), Malawi, South Africa, Zambia, and Zimbabwe. Expansion in mining activities, particularly in DRC, Botswana and Zambia, are contributing to the increased demand for transport and logistics services, he noted. The other growth factors are…

27 Jun

Railway project at procurement stage

info_e12wt4csObserver Money

CHAMWE KAIRA The proposed upgrades of railway infrastructure under funding from the African Development Bank and the Namibian government is at procurement stage with some activities on the ground. However, no implementation of any activity has yet started, except preparation and compilation of solicitation documents, Robert Kalomho director of railway infrastructure management said when asked about the progress on the project. The funding from both the AFDB and the government totals about N$7,6 billion. The project will see the upgrade of the section between Kranzberg to Otjiwarongo and Kalomho said this will take up to four years to complete. In…

27 Jun

Andrada Mining delivers first tantalum

info_e12wt4csObserver Money

CHAMWE KAIRA Andrada Mining CEO, Anthony Viljoen has said despite the plant outages in April the mine has successfully produced and delivered its first five-tonne consignment of tantalum from its Uis Tin Mine to during the quarter ended 31 May, with the second consignment produced and targeted for shipment in the second quarter. The company’s assets in Namibia include the Uis Tin Mine with significant by-product potential for lithium and tantalum. The other mine is the Lithium Ridge (Nai-Nais), which is a lithium, tin and tantalum operation. The other two assets are Spodumene Hill, a lithium, tin and tantalum mine…

27 Jun

NaCC seeks additional clarification on Osino deal

info_e12wt4csObserver Money

CHAMWE KAIRA Osino Resources Corp has provided an update on the expected conclusion of the regulatory process for the previously announced Yintai transaction in Namibia. Osino and the Namibian Competition Commission continue to engage in the ordinary course of the NCC’s merger review process as the NCC considers the application of the previously announced statutory plan of arrangement under which Yintai Gold will acquire all of the outstanding common shares of Osino for cash consideration of C$1.90 for each Osino Share, the company said. After receiving the third of three Chinese regulatory approvals on May 28, competition law clearance from…

27 Jun

Bannerman halts trading on ASX

info_e12wt4csObserver Money

CHAMWE KAIRA Bannerman Energy Ltd, which is developing the Etango uranium project in the Erongo Region has requested an immediate trading halt be granted by Australia Stock Exchange in respect of its ordinary shares. The trading halt is requested in connection with a proposed capital raising to be conducted by the company. Explaining the reason for trading halt, the company said trading halt is requested pending the release of an announcement regarding a capital raising. On the duration of the trading halt, the company said it anticipates that the trading halt will remain in place until the earlier of such…

27 Jun

FIC record N$24.8m surplus

info_e12wt4csObserver Money

CHAMWE KAIRA The Financial Intelligence Centre (FIC) said in its annual report for the financial year ending 31 March that surplus for the year increased by N$ 28.3 million from a N$ 3.5 million deficit in 2023 to a surplus of N$ 24.8 million in 2024. Total operating expenses increased by N$ 3.9 million from N$ 45.2 million in 2023 to 49.1 million in 2024. Total assets increased by N$ 25 million from N$ 26.9 million in 2023 to N$ 51.9 million in 2024. Total investments decreased by N$ 8.9 million from N$ 12.6 million in 2023 to N$ 3.7…