Blog – Page 74 – News Stand

12 Dec

Shaping the future with synthetic diamonds

info_e12wt4csObserver Money

Element Six, part of De Beers Group, is establishing a transformational technology solutions business, leveraging synthetic diamonds to unlock new opportunities in high value industries such as quantum technologies, semiconductors and water purification. The De Beers Group has diamond mining operations in Botswana, Canada, Namibia and South Africa. Last month, Element Six, a world-leading synthetic diamond company and part of the De Beers Group, announced an investment in Lightsynq, a new quantum interconnect startup founded by Harvard PhDs and former research leads at the AWS Center for Quantum Networking. This is just one example of how Element Six is shaping…

12 Dec

US, China tensions, a threat to Namibia

info_e12wt4csObserver Money

CHAMWE KAIRA Heightened trade tensions between the US and China, exacerbated by the Trump presidency, present significant risks to Namibia, whose economy is closely tied to its two largest trading partners, China and South Africa. Namibia's reliance on these economies for trade, investment, and macroeconomic stability creates vulnerabilities to global disruptions. Namibia exports key commodities such as uranium, diamonds, and gold to China, and any slowdown in Chinese export momentum due to US tariffs could dampen demand for these materials. This would likely lead to reduced export revenues and increased commodity price volatility, according to a report by Simonis Storm…

12 Dec

Nictus profit up to N$13,8m

info_e12wt4csObserver Money

CHAMWE KAIRA Nictus Limited, which has operations in Namibia, has said in condensed consolidated interim financial statements for the six months ended 30 September that profit for the period increased to N$13,8 million (2023: N$3,7 million). The firm said basic earnings per share of 25.79 cents (2023: basic earnings per share of 6,93 cents) and headline earnings per share of 26,51 cents (2023: headline earnings per share of 6.94 cents). “No interim dividend was declared for the current nor comparative prior period. The board declared a final gross cash dividend of 6 cents per ordinary share for the year ended…

12 Dec

Airline funds worth US$1,8 billion blocked

info_e12wt4csObserver Money

The International Air Transport Association (IATA) reported that US$1,7 billion in airline funds are blocked from repatriation by governments as of the end of October 2024. This is a small improvement compared to the US$1,8 billion reported at the end of April. “Over the last six months, we have seen significant reductions in blocked funds in Pakistan, Bangladesh, Algeria and Ethiopia. At the same time, amounts are rising in the XAF /XOF zones and Mozambique. Bolivia has also emerged as a problem, where repatriating sales revenues is becoming increasingly difficult and unsustainable for airlines. This unfortunate game of ‘whack-a-mole’ is…

12 Dec

A trustworthy way to secure your future

info_e12wt4csObserver Money

ANDREAS SHIPANGA Many of us envision having enough money to live well in retirement without worry. A life annuity is one type of financial product made to offer that financial benefit and peace of mind. To sufficiently plan and prepare, you should plan for your retirement as early as possible by ensuring you contribute sufficiently to your retirement savings or supplement this by investing in a retirement annuity. Try to decide what you will do with your retirement benefit at least three to five years prior to your retirement date to allow you to source more information about the retirement…

11 Dec

Olivia’s Kitchen staff claim threats over election participation

info_e12wt4csMain

Hertta-Maria Amutenja When the rest of the country went out to participate in the National Assembly and Presidential elections on 27 November, the employees of Olivia’s Kitchen in Windhoek were told to report for duty. This is despite the day being declared a public holiday. “Dear Team, as election day approaches, we want to remind everyone of the importance of participating in the democratic process. Voting is not only a civic duty but also an opportunity to make your voice heard. If you plan to vote tomorrow and it might affect your work schedule, please let your manager know as…

11 Dec

IPC demands answers over alleged reopening of ballot boxes

info_e12wt4csNational News

Stefanus Nashama The Independent Patriots for Change (IPC) has called on the Electoral Commission of Namibia (ECN) to clarify allegations surrounding the reopening of ballot boxes at ECN warehouses across the country. IPC polling agents reported such activities in the Khomas and Erongo regions, which prompted concerns from the party. Christine !Aochamus, the IPC's national general secretary, raised the issue in a letter to Peter Shaama, the chief electoral and referenda officer of the ECN, on Tuesday. “We have received reports from IPC polling agents from various regions across the country that they are being called by ECN presiding officers…

11 Dec

Unemployed people push back on Swapo’s job talk

info_e12wt4csNational News

Mallex Shipanga Following President-elect Netumbo Nandi-Ndaitwah’s electoral victory on 3 December, it is still unknown whether Swapo’s job creation promises will come to fruition during her presidency. An economist, Helana Mboti explained the economic implications of the job creation promises that are not kept. “I will not comment on Swapo’s ability, but on the economic need as a whole,” she said. Mboti emphasized quality over quantity. “While ambitious job creation targets are possible, it's crucial to prioritize quality over quantity. We need to consider the sustainability of these jobs and their impact on people's lives,” she said. Mboti also explained…

11 Dec

Media institutions raise awareness for human rights

info_e12wt4csNational News

Mallex Shipanga The Namibia Media Professionals Union (Nampu), Namibia Media Trust (NMT), and Friedrich-Ebert-Stiftung Africa (FesMedia) hosted a Human Rights Day event on December 11, themed “Our Rights, Our Future, Right Now.” The gathering held on Wednesday, brought together human rights activists, journalists, and policymakers to reflect on Namibia's human rights challenges, focusing on media freedom and freedom of expression. The chief advocate of the office of the Ombudsman, Ingrid Husselmann, addressed attendees and focussed on the intersection of human rights and social justice. “Our constitution enshrines these principles of equality, non-discrimination, and freedom. But is that a reality? Inequality…

11 Dec

IPC & LPM seek court order to inspect election materials

info_e12wt4csNational News

Allexer Namundjebo The Landless People’s Movement (LPM) has emulated the Independent Patriots for Change (IPC) in filing legal action to gain access to election materials following the recently concluded elections. The IPC submitted a court application on Monday, requesting permission to inspect the contents of electoral materials related to the elections. While the IPC has announced alliances with various political entities such as the Popular Democratic Movement (PDM), the Body of Christ, the Republican Party (RP), and the Rally for Democracy and Progress (RDP) to challenge the election outcome, the court documents indicate that IPC is the sole applicant in…