Blog – Page 8 – Windhoek Observer

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…

19 Nov

From discovery to delivery: Strategic readiness for Namibia’s first oil

Energy, Observer Money, Opinions

Nelson Lucas Namibia stands on the cusp of a transformative era. With recent oil and gas discoveries positioning us as a potential energy powerhouse in sub-Saharan Africa, the path to first oil is no longer a distant vision; it is a fast-approaching reality. But the journey from discovery to production is not automatic. It demands readiness, collaboration, and strategic decision-making at every level of our economy and society. Our trajectory can draw valuable lessons from countries like Guyana, which moved from discovery to first oil in just four years, a world record in the oil and gas sector. Their success…

18 Nov

UK to strip Namibian VIPs and diplomats of fast-track visa access …immigration reforms used to win votes, analyst warns

Main

Justicia Shipena The United Kingdom (UK) plans to remove fast-track visa services for Namibian diplomats and VIPs as part of a penalty system aimed at countries that do not take back people the UK classifies as illegal migrants and foreign criminals. Angola and the Democratic Republic of Congo (DRC) are also listed under the planned measures. The UK says the three countries have refused to repatriate more than 4 000 unauthorised immigrants and offenders. If cooperation does not improve within a month, the restrictions will escalate to a full visa ban on all citizens. UK home secretary Shabana Mahmood announced…

18 Nov

High Court judge withdraws from Entrepo case over friendship link

National News

Renthia Kaimbi Acting High Court judge Reinhard Tötemeyer has stepped down from hearing the government’s urgent case against Entrepo Finance. He withdrew after revealing a longstanding friendship with the company’s chief executive officer. Tötemeyer's recusal has now paused the matter until a new judge can be appointed. The revelation came as a surprise to legal teams, who expected any personal connections to be disclosed at the start of proceedings. Judicial ethics mandate the early declaration of potential conflicts, enabling all parties to evaluate the judge's impartiality. The Ministry of Finance and the Prime Minister applied for his recusal. They argued…

18 Nov

Former Ongopolo MD says asset sales were legal

National News

Renthia Kaimbi Former Ongopolo Mining managing director Andre Neethling has defended the sale of company properties. He said the transactions were lawful, approved by the board and intended to keep the business afloat. His comments follow a Windhoek Observer report detailing allegations that former executives sold multi-million-dollar assets for “pennies” during liquidation, leaving the Government Institutions Pension Fund (GIPF) and the Tsumeb community without recovery. Neethling said the criticism ignores the facts. He provided a timeline, stating that Tsumeb Corporation Limited was in liquidation from 29 April 1998 to 13 March 2000. Ongopolo later operated with its own capital and…

18 Nov

ECN ballot blunders trigger outcry ahead of elections

National News

Justicia Shipena The Electoral Commission of Namibia has revealed several discrepancies in ballot paper packs supplied for the 2025 regional councils and local authorities elections. Voting for the elections begins next week. Chief electoral and referenda officer Peter Shaama said the issues were found during the final verification and packing of ballot materials at the ECN Logistics Store in Windhoek. Political party representatives were present when the problems surfaced. Shaama said the discrepancies included under-allocation and over-allocation of ballot papers for some polling stations, as well as duplicate ballot papers in packs for both the regional council and local authority…

18 Nov

Namibia to send first AfCFTA leather containers to Kenya

National News

Allexer Namundjembo The Meat Corporation of Namibia (Meatco) will this week make its first leather export under the African Continental Free Trade Area. Meatco announced that it will dispatch two containers of wet-blue hides from its Okapuka Tannery to Mombasa, Kenya, through the port of Walvis Bay on Thursday. The hides will be processed into finished leather by a newly secured Kenyan client under a trial arrangement. The shipment will be traded under AfCFTA’s non-tariff provisions and certificate of origin requirements. Meatco’s interim chief executive officer, Albertus Aochamub, said the export marks an important step forward for both the company…

18 Nov

Rehoboth man turns cemetery work into income

National News

Allexer Namundjembo Rehoboth resident Roberto “Berto” Gowaseb has turned graveyard maintenance into his source of income, spending his days repainting and clearing burial sites across Rehoboth to make a living. Gowaseb says he started painting and cleaning graves because he wanted to survive through honest work. He told the Windhoek Observer on Monday that the decision came from a simple desire to build a life without turning to crime. “I don’t want to steal. I just want to earn the little I make so I can survive,” he said. Gowaseb lives alone and has no children. He said creating his…

18 Nov

Won’t someone listen to the regulators?

Featured, Opinions

Wendall Uiseb As an economics graduate observing Namibia’s financial policy debates, I have been fascinated by the clash between the Ministry of Finance and the country’s top regulators over the payroll deduction management system (PDMS). Recently, the Bank of Namibia (BoN) and the Namibia Financial Institutions Supervisory Authority (Namfisa) have confirmed their opposition to the Ministry’s directive to abolish PDMS. This revelation, contained in position papers filed in the Entrepo Finance v. Minister of Finance High Court case, highlights a troubling contradiction: the Ministry’s policy direction runs directly against the recommendations of its own regulators. NAMFISA’s position paper on payroll…