Blog – Page 744 – Windhoek Observer

18 Aug

Namibia to receive N$5.5 Billion in oil exploration

Observer Money

Chamwe Kaira In the realm of deep-water exploration expenditures by continent, Namibia is poised to secure the largest allocation of exploration funds in Africa from Total Energies. The company is set to invest US$300 million (equivalent to N$5.5 billion) for the assessment of the Venus oil well situated offshore Namibia. This disclosure emerged during the Namibia Oil and Gas Conference held in Windhoek, presented by Namcor executive Shiwana Ndeunyema. Ndeunyema highlighted that the initial investment might escalate due to the potential for discovering additional resources. Preliminary estimations indicate that Graff and Venus fields possess the capacity to nearly double Namibia’s…

18 Aug

Inflation hits alcohol, tobacco

Featured, Observer MoneyInflation hits alcohol, tobacco

The inflation rate for alcoholic beverages and tobacco stood at 6.9% in July 2023 compared to 5.4% registered in July of the preceding year The increase in the annual inflation rate for this category resulted from an increase witnessed in the subcategory of alcoholic beverages which increased by 7.7% in July 2023 compared to 5.4% recorded in July 2022, figures by the Namibia Statistics Agency revealed. The main products which pushed up the inflation rate for this subcomponent in July 2023 were sparkling wines/champagnes (from 1.2% to 10.6%); Wines (from 0.9% to 8.6%) and liqueurs (from -3.0% to 1.1%). Annual…

18 Aug

United Africa selling multi-million properties

Observer MoneyUnited Africa selling multi-million properties

Chamwe Kaira United Africa Group is in the process of selling its multi- million Namibia dollars property portfolio. The group has a vast property profile which includes hotels, commercial office blocks, retail space, industrial, residential, student accommodation and parking. Information gathered by Observer Money shows that the property portfolio currently consists of over 32 000 square meters of property in Windhoek and surrounds and includes hotels in Walvis Bay, Lüderitz, the Caprivi Strip, Ondangwa and Oshakati. WH Auctioneers Properties, in association with Solution Strategists, have been instructed, on a sole and exclusive basis, to dispose of a property portfolio, owned…

18 Aug

Government, Peugeot Opel to decide plant future

Featured, Observer MoneyGovernment

Chamwe Kaira With the future of the Peugeot Opel Assembly plant hanging in the balance, the government and PSA Automobiles, the two shareholders on the plant are expected to hold crucial talks that will determine the future of the plant. “The two shareholders have to meet and agree on the way forward. That is all, I am allowed to say at the moment,” Michael Humavindu, deputy executive director of industrialisation and enterprise development at the Ministry of Industrialisation and Trade said this week. Humavindu is also a board member of the company. It is not clear when the shareholders will…

18 Aug

Competition Act facing overhaul

Observer Money

The Namibian Competition Commission (NaCC) CEO, Vitalis Ndalikokule talks to Observer Money about mergers, fulfilling its mandate and some of the challenges facing the Commission. He also discloses that the Draft Bill will overhaul the current Competition Act enacted in 2003. OBSERVER MONEY (OM): We see that the NaCC is announcing the approvals of many mergers in the country. Apart from mergers, what else has the NaCC been doing?VITALIS NDALIKOKULE (VN): Apart from the work done on mergers, the NaCC has also been carrying out investigations into anticompetitive practices in several sectors of the economy including the electricity, telecommunication, Poultry,…

18 Aug

Green hydrogen to transform workforce

Energy, Observer MoneyGreen hydrogen to transform workforce

Staff Writer Namibia’s groundbreaking green hydrogen project, a remarkable venture in sub-Saharan Africa, presents a transformative opportunity for the country’s workforce. As the Government of the Republic of Namibia (GRN) collaborates with the private sector to establish and operate this fully integrated project, there arises an urgent requirement for a comprehensive workforce solution. This is precisely where a Temporary Employment Services (TES) provider comes into play, offering a unified solution to address skills transfer, labour, and HR/IR needs, from start to operations. By partnering with a TES provider, Namibia can leverage their expertise, ensuring streamlined operations and unlocking the full…

18 Aug

TransNamib nears conclusion of N$2.6 Billion funding access

Observer MoneyDevelopment Bank of Southern Africa, TransNamib nears conclusion of N$2.6 Billion funding access

Chamwe Kaira TransNamib Holdings, the troubled state-owned railway company, is approaching the final stages of securing a loan agreement amounting to N$2.6 billion. This financial arrangement has been entered into with the Development Bank of Namibia and the Development Bank of Southern Africa. Abigail Raubenheimer, the spokesperson for TransNamib, conveyed that the company is currently in the last phases of planning and preparation. Several conditions need to be met by TransNamib in order to gain access to the funding, she explained to Observer Money this week. “Remaining committed to future objectives, TransNamib recognizes the pivotal role of rail transport in…

18 Aug

Beef industry stands at a crucial juncture

Observer MoneyBeef industry stands at a crucial juncture

Staff Writer The Namibian beef industry is at a crossroads, necessitating a proactive approach to tackle the challenges it confronts. To secure its future, the industry must undertake various strategic initiatives. These include investing in advanced infrastructure like efficient feedlots and cutting-edge equipment, as well as implementing drought-restocking plans to ensure long-term sustainability. Supporting small-scale beef processors through incentives is crucial for their operational stability. A pivotal focus should be on revitalising rangelands and enhancing grazing capacity for cattle. Initiatives encompassing the production and storage of animal feed to mitigate the impacts of drought are equally important, as suggested by…

18 Aug

Census to enhance economic planning

Observer MoneyAlex Shimuafeni, Census to enhance economic planning

Chamwe Kaira The 2023 Population and Housing Census holds significant importance for the Namibian economy due to its integral role in economic planning. Economic planning encompasses resource management and effective utilisation, making the data from this census crucial for informed decision-making in these areas. Scheduled to take place from September 18 to November 3, the 2023 Population and Housing Census is set to play a pivotal role in shaping Namibia’s future. Alex Shimuafeni, the Statistician-General and CEO of the Namibia Statistics Agency, emphasized that the census provides essential information for policy formulation, resource allocation, infrastructure development, and other key aspects.…

18 Aug

Just Saying with Matts Haikali

Sports

This past week I got a chance to attend various sporting activities where people of different ages and skills were taking part in sporting activities. It was very disheartening to see all these athlete performing to the best of their abilities in front of meagre crowd of people, who one could count on their one hand. There is a need to cultivate a culture of supporting those we love, when they go showcase their skills on the sports field, it does not matter whether it’s a soccer field, cricket field, race course or car track, we need to start providing…