Blog – Page 700 – Windhoek Observer

19 Dec

Dundee to invest N$7 billion after acquiring Osino Resources

Observer Money

Erasmus Shalihaxwe Dundee Precious Metals (DPM) is planning to invest between N$6 to N$7 billion after acquiring 100 percent shares in Osino Resources Corp. Osino Resources Corp owns the Twin Hills Gold Development project, a Mining site in the area of Karibib in the Erongo Region. DPM announced yesterday that the planned investment includes construction of the project, infrastructure and employment. With activities planned to take place between 2024 and 2026. The company is also estimated to pay N$700 million per year to the Namibia government for 13 years. While 75 percent of goods and services that will be sourced…

19 Dec

Pangolins under serious threat, Environment Ministry observes

National NewsEnvironment Ministry observes, Pangolins under serious threat

Stefanus Nashama The Ministry of Environment, Forestry, and Tourism has raised alarm over the serious threat facing pangolins in Namibia. According to Romeo Muyunda, the Ministry’s spokesperson, there has been a notable increase in pangolin trafficking cases from September to November this year, leading to a significant concern for the survival of this species. Muyunda disclosed that during this period, authorities have confiscated a total of 18 pangolin skins, 12 live pangolins, and 146 pangolin scales. This has resulted in 23 registered cases and the apprehension of 38 suspects. Remarkably, these figures surpass the combined number of cases related to…

19 Dec

SPYL pleads for an extension of SIM card registration period

National News

Stefanus Nashama Despite the official announcement of no extension for the SIM card registration period, the Swapo Party Youth League (SPYL) has made a heartfelt plea to the Ministry of Information and Communication Technology, urging them to reconsider its decision.SPYL is requesting that the Communications Regulatory Authority of Namibia (CRAN) halt the deactivation of unregistered SIM cards by the end of December 2023.CRAN initially set the registration period from 1 January to 31 December 2023.The SPYL’s Secretary, Ephraim Nekongo pointed out that service providers like the Mobile Telecommunications Company (MTC) have indicated that only 25 percent of their clientele has…

19 Dec

Loan boosts Namibian agriculture with N$400 million

National NewsLoan boosts Namibian agriculture with N$400 million

Niël Terblanché Namibia’s agricultural sector received a significant boost as the Agricultural Bank of Namibia (Agribank) and KfW Development Bank inked a historic agreement, securing a concessional loan of just over N$400 million. The collaboration, which aims to empower Namibian farmers and related food-producing businesses, promises to revolutionize access to financing for the communal and commercial farming sectors and Micro, Small, and Medium Enterprises (MSMEs) involved in agriculture and food processing. Agribank, as the recipient of the funds, plans to utilize the resources to provide expanded financing facilities to small-scale farmers and MSMEs engaged in primary agriculture and agro-processing. By…

19 Dec

ECB approves cost of unserved energy

National NewsECB approves cost of unserved energy

Martin Endjala Namibia’s Electricity Control Board last week announced that it has approved the Cost of Unserved Energy (COUE) study which is considered key economic and financial parameters of customer interruptions. The cost of unserved energy refers to the economic impact or cost of discomfort on households when there is a lack of available energy to meet their needs. The ECB’s Chief Executive Officer, Robert Kahimise said that the study provides an economic value to the cost of unplanned electricity interruptions, as well as the inability to meet electricity demand at a given time to electricity customers and the economy…

19 Dec

Scammers are stooping to a new low, targeting war veterans

National NewsScammers are stooping to a new low, targeting war veterans

Niël Terblanché In a disturbing turn of events, scammers have resorted to impersonating officials from the Ministry of Defence and Veterans Affairs (MODVA) in an attempt to extract personal bank account information from Veterans of the National Liberation Struggle. Colonel Petrus Shilumbu, the head of MODVA’s public relations division in a statement said this new and alarming trend has raised concerns among authorities, prompting him to issue a call to struggle veterans to be cautious. According to the colonel, the Ministry recently received credible information regarding individuals falsely representing themselves as MODVA officials. “These imposters approach war veterans, requesting their…

19 Dec

Erongo Region welcomes new Chief Regional Officer

National News

Niël Terblanché The Erongo Regional Council has welcomed a new leader to its ranks with the appointment of Mupenzeni Ntelamo as the Chief Regional Officer (CRO), effective from December 1st. Ntelamo’s appointment follows the resignation of the former CRO, Ludmilla Habate Doȅses, in September last year. In a statement, Benita Imbamba, Chairperson of the Erongo Regional Council, expressed the council’s enthusiasm for this new chapter. “The entire Erongo Regional Council, management, and staff, are honoured to welcome Mr Ntelamo as the new Chief Regional Officer,” she said. Imbamba conveyed her confidence in Ntelamo’s leadership abilities and vision for development, emphasizing…

19 Dec

Money supply growth is up by 7.9 percent

Observer Money

Martin Endjala The latest Bank of Namibia Quarterly Bulletin for December 2023 reported that annual growth in broad money supply has experienced a moderate increase of 7.9 percent. This growth has been primarily driven by a significant surge in Net Foreign Assets of the depository corporations. However, during the same period, Private Sector Credit Extension saw a slowdown of 1.6 percent in the third quarter of 2023. This rise in annual growth during the third quarter of 2023 was fueled by an increase in Net Foreign Assets of the depository corporations, attributed to diamond proceeds and revaluation gains. On the…

19 Dec

Vulnerable Namibians exploited by international smuggling syndicates

MainVulnerable Namibians exploited by international smuggling syndicates

Niël Terblanché A recent case involving the arrest of a Tanzanian national and three Namibians has shed light on a disturbing trend of international poaching syndicates exploiting local communities in Namibia for illegal harvesting of endangered plant and animal species. This illicit trade is not only threatening the nation’s unique plant species but also endangering the livelihoods of its people. Diana Mashiku (29) from Tanzania, believed to be a plant-trafficking kingpin, and her three Namibian accomplices, Veisiruaije Tjavara (25), Jennifer Simataa (37), and Tjivinda Unatavi (31), were apprehended while in possession of 46 Adenia pechuelii plants, commonly known as Elephant’s…

18 Dec

Acquisition of 350 tractors will aid more communal farmers

Observer MoneyAcquisition of 350 tractors will aid more communal farmers

Niël Terblanché To support communal farmers and enhance food production in Namibia, the Ministry of Agriculture, Water, and Land Reform has acquired a total of 350 brand-new tractors with varying agricultural applications. These tractors will be distributed across the country to benefit communal farmers during the upcoming ploughing season. The transaction is a substantial investment in the agricultural sector and the future food security of the people. According to Ndiyakupi Nghituwamata, the Executive Director of the agriculture ministry, 298 tractors have already been delivered to various regions of the country to improve agricultural practices and productivity. She added that the…