Observer Money – Page 157 – Windhoek Observer

20 Oct

Momentum paid N$300 million in Covid claims

Observer Money

CEO of Momentum Metropolitan Namibia, Sakaria Nghikembua, talks about joining the company in the middle of the Covid-19 pandemic and the lessons the company learnt from the pandemic. He tells Observer Money about the new products launched by his company and the current status of the insurance industry in the country. Observer Money (OM): You were appointed as CEO of Momentum Metropolitan Namibia, just over two years ago, how has the journey been so far? Sakaria Nghikembua (SN): Enlightening, challenging and rewarding. I came in right in the middle of the Covid-19 pandemic. As a business, we learned many new…

20 Oct

Nasria readies weather based livestock insurance

Observer Money

Chamwe Kaira The Namibia Special Risks Insurance Association (Nasria) is getting ready to introduce the innovative Weather Index Based Livestock Insurance (WIBLI). Johannes Alugodhi, the agriculture manager at Nasria said in an interview that Nasria is committed to launch the innovative WIBLI product to the market (Agriculture sector) before the down of 2023. Alugodhi said WIBLI will provide a solution by insuring livestock farmers against droughts and excessive rainfall and floods, which are the most significant climatic change risks challenges facing the agriculture sector. He said with WIBLI, there is no field, farm, grazing ground level assessment required to confirm…

20 Oct

Paladin spends US$66m in Namibia

Observer Money

Chamwe Kaira Paladin Energy, which is in the process of reopening its Langer Heinrich Mine in the Erongo Region has spent US$66.2 million on various services in the country in the current financial year. The company said in the sustainability report that during the 2023 financial year, there was no direct economic value generated from revenues, however economic value distributed and retained, which included operating costs, employee wages and benefits, payments to providers of capital, payments to government by country, and community investments totaled US$66.2 million. Langer Heinrich already produced over 43 million pounds of uranium oxide over ten years…

20 Oct

Grants offered for small businesses

Observer Money

The US African Development Foundation (USADF) and the Ministry of Industrialisation and Trade is inviting proposals from Namibian cooperatives, producer groups, and micro, small, and medium-sized enterprises (MSMEs) for grant financing and local support to develop innovative solutions that enhance their capabilities. These solutions aim to increase food security, add value to local products, boost revenues, create jobs, improve incomes, and foster sustainable market-based growth. The USADF and the trade ministry said they are welcoming proposals from registered cooperatives, producer groups, processors, distributors, and service providers in Namibia who are actively engaged in the following value chain sectors: grain, livestock,…

20 Oct

Schlumberger plans plant for oil rigs

Observer Money

Chamwe Kaira Services Pétroliers Schlumberger (SLB), a globally recognised oilfield services giant listed on the stock exchanges in New York, Paris, and London, is in the early stages of proposing the construction and operation of a Liquid Mud Plant (LMP) at Berth 8, situated within the Port of Walvis Bay, managed by the Namibian Ports Authority (Namport). SLB's extensive operations span across 120 countries, as indicated on its official website. The Liquid Mud Plant is a pivotal component in the management of various drilling fluids utilised in offshore oil rig operations. SLB envisions the LMP as a facility designed to…

20 Oct

Frederick Muller, new driver at Alexforbes

Observer Money

Frederick Muller was recently appointed as the Managing Director of Alexforbes Investments. With two decades of experience within Alexforbes, Muller says he would like to inspire the people working with him, foster close relationships with existing clients and bring innovative solutions and products to the market. Muller talks to Observer Money about his new role and how he hopes to take the company forward. Observer Money (OM): You have assumed the new role as MD at Alexforbes, how would you describe the current business environment in which you operate in? Frederick Muller (FM): I have assumed the role of MD…

20 Oct

EU-Namibia business forum to focus on GH2 and critical raw materials

Observer Money

Martin Endjala The upcoming European Union (EU) -Namibia business forum set to take place on the 24-25 October 2023 in Brussels, Belgium will focus on the Green Hydrogen and Sustainable Critical Raw Materials value chains. Hosted under the theme “Mobilising Quality Investment and Value Addition for Green Growth in the EU-Namibia Partnership”. The highly anticipated two-day forum aims to foster dialogue and collaboration as well as to strengthen the partnership between the EU and the Namibian Government, businesses and organisations. The forum is jointly organised by the Namibia Investment Promotion and Development Board (NIPDB) and the EU. According to Gosia…

17 Oct

Economist calls for caution in implementing government handouts

Observer MoneyEconomist calls for caution in implementing government handouts

Martin Endjala Local economist and independent researcher, Joseph Sheehama, has strongly opposed the government's plans to introduce a Condition of Basic Income Grant (CBIG) for every unemployed Namibian between the ages of 18 and 59. He believes that while the initiative is commendable, it represents a temporary solution that can promote complacency in terms of innovation and creativity, hindering economic growth. Sheehama pointed out that Namibia faces a critical challenge in the form of high unemployment, which perpetuates the cycle of widespread poverty. He argued that what the country needs is entrepreneurship, not handouts. "Instead of handouts, provide a scheme…

16 Oct

Unhygienic conditions at trade markets worrisome: Upingene

Observer MoneyUnhygienic conditions at trade markets worrisome: Upingene

Martin Endjala The Mayor of Windhoek, Joseph Uapingene, has expressed concerns about the unhygienic environmental conditions observed at trading markets and inadequate infrastructures across the city as worrisome and pose serious health risks. He said this can undermine traders’ sales and equally pose serious health risks to customers and the traders themselves. It is for this reason, in 2018 CoW intensified its health and hygiene promotion efforts at informal food markets and ran a competition at all food handling markets, to encourage traders to keep the markets clean at all times and practice good hygiene, in the interest of public…

16 Oct

NSX’s bond trading system goes live

Observer MoneyNSX’s bond trading system goes live

Chamwe Kaira The Namibian Stock Exchange (NSX) celebrated a momentous and long-awaited project with the go-live of the bond trading system on 13 October. The CEO of the NSX, Tiaan Bazuin, stated that the NSX is very pleased with the addition of our own bond trading system, to enhance the capabilities of the exchange to facilitate safe and regulated trading in the bond space in Namibia. This is also an expansion of its market participants as some of the banks in Namibia are now also capable of on-market trading together with some of the Stockbroking community. “Increasing on-market trading of…