Observer Money – Page 13 – Windhoek Observer

28 Oct

Civil Society Spells Out Budget Priorities

ObserverObserver Money

Graham Hopwood Civil society organisations (CSOs) believe the national budget is a powerful tool that can be used more effectively to address systemic poverty, improve living conditions, and promote social equity in Namibia. The Institute for Public Policy Research (IPPR) today released a new briefing paper, entitled Civil Society & The Budget: Perspectives on Priorities. The paper is being published ahead of the 2024-25 Mid-Year Budget Review to be tabled in the National Assembly by the Minister of Finance and Public Enterprises on 28 October 2024. The paper summarises civil society submissions and suggestions regarding budget priorities which have been…

28 Oct

MME rolls out survey to shape future policies

ObserverObserver MoneyMinistry of Mines and Energy

Erasmus Shalihaxwe The Ministry of Mines and Energy (MME) is conducting a comprehensive national energy survey and affordability study in collaboration with the World Bank. The survey started on 7 October and is expected to end on 11 November. The ministry’s Executive Director, Penda Ithindi, stated that the study, which will be carried out countrywide, aims to assess socio-economic conditions and identify development needs. He said the survey will also provide a robust evidence base for formulating policies and programmes aimed at poverty reduction and sustainable development by expanding universal access to energy. The exercise will encompass a range of…

28 Oct

BoN announce drought relief plan for struggling farmers

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Erasmus Shalihaxwe The Bank of Namibia (BoN) is set to provide credit-related drought relief policy measures to assist farmers and agricultural business owners who are experiencing financial difficulties as a result of drought. The bank’s director of strategic communications and international relations, Kazembire Zemburuka, announced the new measure on Monday. He explained that the decision was taken because the banking institutions are required to implement relief measures, including the restructuring of loans, granting of loan moratoriums, and emergency funding under preferential terms. According to Zemburuka, this will ease the financial burden on affected clients while helping to stabilise the agricultural…

27 Oct

CoW to generate electricity from waste

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Erasmus Shalihaxwe The City of Windhoek (CoW) is planning to build a waste-to-energy plant to generate bulk electricity and improve waste management. The municipality explained this in a statement issued over the weekend where it said that the initiative aims to diversify energy supply, enhance the security of electricity provision, and reduce carbon emissions. “The proposed facility is expected to process 250 tons of waste per day, equivalent to 8.5 MW of electricity and 17.5 MW of heat, with the possibility to increase capacity to 400 tons per day by incorporating waste from neighbouring urban centres,” reads the statement. According…

27 Oct

No permit for Air Botswana Windhoek and Durban route

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Allexer Namundjembo The anticipated launch of Air Botswana’s new flights to Windhoek and Durban, originally set for October 1, will not happen anytime soon as the airline is reported to yet to apply for operational permits in South Africa and Namibia. Media in Botswana reported last week that Air Botswana also lacks both the crew and aircraft needed to service these routes, with the newly acquired E175 aircraft still grounded. According to the Tuesday Grill newspaper, a source explained that the ERJ145 aircraft, planned for Namibia operations, will be registered with Namibian authorities and operated by FlyNamibia. Furthermore, FlyNamibia’s crew…

27 Oct

Otjimbele grape project aims to fill gaps in Namibia

ObserverObserver MoneyAsparagus Agro-Processing Project, Carlos Lertxundi Aretxaga

Martin Endjala The Otjimbele grape project in the Omusati region is planning on growing crops that are not readily available in the local market as part of its long-term strategy. The project will grow watermelon, maize, wheat, spanspek, sweet potato, and butternut to substitute imports and meet local market demands. The founder and chief executive officer of the project, Carlos Lertxundi Aretxaga, last week told the media that this is part of a N$120 million investment to revitalise the former Asparagus Agro-Processing Project. “Namibia is a net importer of some of these products. So what we want to do is…

27 Oct

Green hydrogen revolution driven by strong partnerships

ObserverEnergy, Observer MoneyGreen Industrialisation Blueprint

Niël Terblanché Namibia’s ambition to lead Africa’s energy transition, aligning with its Green Industrialisation Blueprint has taken another step forward with the visit by Lei Zhang, founder of Envision last week. Collaboration with Envision, a global leader in renewable energy established in China, will boost Namibia on its journey towards becoming a key player in green industrialisation. Zhang met with government officials to explore opportunities to position the country as a major hub for green hydrogen production. During his visit, Zhang engaged with key figures such as Obeth Kandjoze, chair of the Green Hydrogen Council, and Lucia Iipumbu, minister of…

24 Oct

Diamond production down 14%

ObserverObserver MoneyDebmarine Namibia, Namdeb, Namibia Trading Diamond Company

CHAMWE KAIRA Production in Namibia decreased by 14% to 500 000 carats, reflecting intentional action to lower production at Debmarine Namibia, partially offset by planned higher grade mining and better recoveries at Namdeb, the Anglo American production report for the third quarter ended 30 September revealed. Anglo American owns De Beers, which in turn is a 50-50 partner with the government in Debmarine Namibia, Namdeb Holdings and Namibia Trading Diamond Company (NDTC). De Beers said overall rough diamond production in Namibia, Botswana, South Africa and Canada decreased by 25% to 5.6 million carats, reflecting a production response to the prolonged…

24 Oct

Agra expects profit to drop 23%

ObserverObserver MoneyNamibia Stock Exchange, Namibian agricultural sector

CHAMWE KAIRA Agra Limited has advised shareholders that the company’s profit after tax, basic earnings per share and headline earnings per share for the year ended 31 July 2024 is expected to decrease by between 17% and 23% compared to the previous financial period. Agra said the results reflect a period that was challenging in unprecedented ways but also demonstrate the strength and resilience of both the company and the Namibian agricultural sector. “The severe and ongoing drought has tested Agra’s operations, stakeholders, and the very foundation of agriculture in Namibia. Yet, through these trials, Agra has emerged not just…

24 Oct

Economy will offer construction opportunities

ObserverObserver MoneyBank of Namibia, Simonis Storm

CHAMWE KAIRA Economic research firm Simonis Storm has said while it remains cautious about the overall recovery of the construction sector, it is excited about the opportunities ahead. The recent 25-basis point rate cut by the Bank of Namibia is a welcome step toward creating a more favorable environment for property financing, particularly in the residential sector, the firm said. “Although the current challenges in both corporate and household mortgage lending suggest that deeper structural issues persist, we expect that further rate cuts are on the horizon, offering additional relief and support for the sector,” the firm said. Simonis said…