Observer Money – Page 162 – Windhoek Observer

29 Jun

Oryx Properties offering new shares

Observer Money

CHAMWE KAIRA Oryx Properties says both existing and new investors have a new opportunity to invest in one of Namibia’s leading property companies. Oryx is embarking on a growth strategy for the next two years and is in the process of acquiring the Dunes Mall in Walvis Bay. As part of the funding strategy, Oryx has embarked on a renounceable rights issue. This will see current investors in Oryx being allocated letters of allocation, allowing them to purchase additional units in Oryx. Further, this means that new investors will be able to purchase rights to invest in Oryx on the…

29 Jun

B2Gold contributes N$19.5 billion to economy

Observer MoneyB2Gold contributes N$19.5 billion to economy

CHAMWE KAIRA B2Gold Namibia production records show that in the eight-year period since commercial production was declared (from March 2015 up to 31 December 2022), the company contributed N$19.5 billion to the Namibian economy. Since commercial production was achieved in 2015, the company has spent over N$ 12 billion on localprocurement. Of its total supplier spend, approximately 80% relates to spending on Namibian suppliers of goods and services. B2Gold has operating gold mines in Mali, the Philippines, and Namibia, and a portfolio of exploration and development projects in several countries, including Canada, Mali, Finland, Cote d’Ivoire, and Uzbekistan.B2Gold is a…

29 Jun

Savanna aims to raise N$200m

Observer MoneySavanna aims to raise N$200m, Savanna Beef Processors

Chamwe Kaira Savanna Beef Processors, which is in the process of setting up a meat processing plant in the country plans to achieve 100% producers shareholding of the N$200 million issued share capital. “Hence, we are offering producers an additional share capital of N$ 26,5 million shares. The procedures will be announced shortly. This will also strengthen our position with banks and other investors,” thecompany said. With the present N$173,5 million issued share capital from producers, the company is in the process to open the transaction of shares again for shareholders and producers in the near future to hopefully achieve…

29 Jun

Potentially N$13.3 billion lost in tolling deferment

Observer MoneyPotentially N$13.3 billion lost in tolling deferment

CHAMWE KAIRA The Road Fund Administration (RFA)’s feasibility study found that 21 roads can fund N$5.8 billion in capital and maintenance expenditure over five years, possibly generating N$7.5 billion in additional revenue to subsidise roadworks across the entire network. This adds up to N$13.3 billion. The RFA has looked at tolling as an additional revenue stream to maintain the N$101 billion national road network. Empirical research shows that tolled roads are better maintained, resulting in more jobs, economic opportunities and lower vehicle operating costs, according to the RFA. According to additional econometric analysis, tolling would add N$1.7 billion to the…

29 Jun

Kunene region spends N$ 33m on infrastructure development

Featured, Observer MoneyKunene region spends N$ 33m on infrastructure development

Martin Endjala The Kunene Region has spent over N$33 million from its initial allocated N$200 million for the 2022/23 financial year, due to funds that were virement on given projects such as N$175 million towards the construction of the new 412 kilometre-long Swakopmund-Henties Bay-Kamanjab road. Kunene Regional Governor, Marius Sheya said in his State of the Region address yesterday in Opuwo that it is no secret that public infrastructure development stimulates prosperity and promotes economic inclusion through the provision of accessibility, inclusion, and safety. Infrastructure development shapes social and economic outcomes that promote a socially fair and cohesive society, he…

28 Jun

Tabled Banking Bill to empower BoN in holding banks accountable

Featured, Observer MoneyTabled Banking bill to empower BoN in holding banks accountable

Martin Endjala The Bank of Namibia will soon have the authority to deal with commercial banks that are contravening the Banking Institutions ACT following the introduction of the Banking Institutions Bill tabled in parliament which is intended to repeal the Banking Institutions Act, Act No. 2 of 1998 as amended. During the tabling of the Bill, the Minister of Finance and Public Enterprises, Iipimbu Shiimi said that the banking regulatory framework should be effective and responsive to the needs of the people and when promulgated, it will enhance the regulatory and supervisory framework for banking institutions and contribute to the…

28 Jun

SMEs actively contribute to the national economy

Featured, Observer MoneySMEs actively contribute to the national economy

Martin Endjala Namibia should embrace the fact that it is well-positioned to capitalise on the strengths of its Small and Medium Enterprise sector, given the immense contributions of SMEs to economies and societies worldwide. The importance of such enterprises emphasises the power of Micro, Small and Medium-sized (MSMEs) and their transformational potential and the need for inclusive, sustainable support systems. Bank Windhoek’s Head of SME, Financial and Data Analytics, Bianca Janse Van Vuuren made these remarks during the commemoration of MSMEs Day, which is commemorated on the 27th of June worldwide. The United Nations General Assembly designated 27 June as…

26 Jun

Telecom Namibia signs contract to fast-track digital transformation

Observer Money

Niël Terblanché Providing access to reliable, speedy and affordable internet services will form a big portion of the new five-year Integrated Strategic Business Plan (ISBP) launched by Telecom Namibia. The launch on 22 June 2023 of the ISBP signalled the start of Telecom Namibia’s journey to replace obsolete technologies and fast-track its digital transformation initiatives. The ISBP is aimed at four overall goals: stabilising the business, business transformation, digitalisation, and digital transformation. The launch coincided with the ceremonial signing of a contract between Telecom Namibia and Sistemas Avanzados De Tecnologia S.A (SATEC), which will kickstart the digital transformation process with…

23 Jun

Namibian company scores US$150m Malawi fertilizer tender

Observer MoneyNamibian company scores US$150m Malawi fertilizer tender

Chamwe Kaira The Malawian government has awarded a Namibian oil company a US$150 million contract to supply fertilizer to that country, the Malawian media reported this week. The report by malawi24.com said Smallholder Farmers Fertiliser Revolving Fund of Malawi (SFFRFM) signed a contract with Namibian firm Nendongo Commercial Group (NCG) for the supply of the fertiliser. The contract SFFRFM signed with NGC indicates that government is procuring 200 000 metric tonnes (MT) of fertiliser from the Namibian company at the contract price of US$150 million. The contract is split into two consignments of 100 000 MT of NPK (worth US$85…

23 Jun

European ban threatens hunting industry

Observer MoneyEuropean ban threatens hunting industry

Chamwe Kaira The Namibia Professional Hunting Association (NAPHA) is worried that said a hunting ban as proposed in the United Kingdom can potentially have devastating effects on the hunting industry. Kristin Maritz, one of the executives of the Namibia Professional Hunting Association told Observer Money that although the United Kingdom is not a primary market for the Namibian hunting industry, should they decide to pass the ban, animal rights activists in other countries like Germany, Austria and even the USA who are the primary markets for Namibian trophy hunting, might use it as a template to validate their proposals for…