Observer Money

Chamwe Kaira The freight industry in Namibia, South Africa and Botswana must move with the times and introduce smart corridors and the use of smart containers embedded with sensors and tracking technology such as GPS and Radio Frequency Identification (RFID) chips, allowing manufacturers, carriers, and shippers to monitor their cargo more accurately. Leslie Mlungisi Mpofu, the Executive Director of the Trans Kalahari Corridor believes that a number of benefits may be realised by adopting new generation technologies and these include enabling various information systems to work together in the most effective way possible, promoting safe and secure borders, offering authorised…

Chamwe Kaira Namibia does not owe money to airlines that operate in the country, records released by the International Air Transport Association (IATA) showed this week. Kamil Alawadhi, Regional Vice-President Africa and Middle East of IATA disclosed that since 2018, a significant amount of blocked funds have been repatriated from Angola, Ethiopia, Ghana, Nigeria, and Zimbabwe through working with the respective governments. Currently US$1.68 billion in airline funds remain blocked across the continent. IATA records showed that Namibia is not among countries blocking money owed to airlines. Alawadhi, said achieving reasonable levels of taxes and charges by focusing governments on…

Chamwe Kaira Ministry of Finance and Public Enterprises and Ministry of Fisheries and Marine Resources plans to auction 5000 metric ton (MT) of Hake. The move is part of the government objective of selling fishing quotas to the highest bidder. Bids must be in multiples of 100 metric ton with a minimum price of N$9000 per MT of Freezer fish and N$7000 per MT of wet fish. Bids must be submitted by 8 December and full auction results will be announced by mid- January 2024. The government has continued to generate revenue through fish auctions with figures showing that more…

Synthetics diamonds prices are trading as low as 98 percent below the Rapaport Price List for natural diamonds. Rapaport said Walmart sells a 3 ct., Round, F-G, VS1-VS2, synthetic diamond solitaire ring for US$2,975, while Signet’s Blue Nile sells a similar 3.00 ct., Round, G, VS1 synthetic diamond solitaire ring for US$8,190. That’s a 275 percent difference for the same ring, it said. De Beers said in September that it had decided to call time on offering lab-grown diamonds for engagement rings even as the man-made alternatives continue to cannibalise demand in one of the company’s most important markets. Mines…

Chamwe Kaira World Intellectual Property Organization (WIPO), Director General Daren Tang has pledged the Organization’s continued support for the strengthening of Namibia’s innovation ecosystem. Tang who visited Namibia this week disclosed that Namibian officials expressed their commitment to strengthening the innovation ecosystem with intellectual property (IP) as a core part of policies to promote growth and development. Tang underlined WIPO’s vision of intellectual property as a powerful catalyst for jobs, investments, business growth and economic and social development in all parts of the world. He said WIPO is building a more inclusive IP ecosystem, focusing on startups and small and…

The majority of guests at hospitality establishments nationwide predominantly hail from Europe, with Germany, Switzerland, and Austria collectively constituting the largest share of international tourist arrivals at 42.3 percent, according to October tourism numbers. France follows closely behind, accounting for 7.4 percent of the total international tourist arrivals. At a regional level, South Africa is noteworthy, representing 4.4 percent of the aggregate guest composition in hospitality establishments throughout Namibia. Namibia's hospitality sector exhibited resilience in October, with national occupancy rates holding steady at 65.5 percent, consistent with the figures reported in September. This marked an improvement from the 54.6 percent…

Services Pétroliers Schlumberger (SLB), a globally recognised oilfield services giant listed on the stock exchanges in New York, Paris, and London, plans to employ 22 people on its planed Liquid Mud Plant (LMP) at Berth 8, situated within the Port of Walvis Bay. The company is in the early stages of proposing the construction and operation of the plant at Berth 8, situated within the Port of Walvis Bay, managed by the Namibian Ports Authority (Namport). According to a project update that was released this week currently eleven employees are in service of SLB at the Port of Walvis Bay.…

Chamwe Kaira Osino Resources Corporation remains focused on the financing and pre-construction activities at its Twin Hills, including de-risking the mineral resource estimate and the initial years of production. Osino is currently drilling to convert the first two years of mining from indicated to measured mineral resource category and to confirm and upgrade the Twin Hills Mineral Resource Estimate. “Osino remains focused on the financing and pre-construction activities at Twin Hills, including de-risking the mineral resource estimate and the initial years of production.” Heye Daun, Osino's President and CEO commented said the company is highly encouraged by these excellent assay…