Observer Money – Page 164 – Windhoek Observer

25 Aug

Namibia, Zambia 24-hour border will help Walvis Bay

Observer Money

The introduction of a 24-hour border operation between Namibia and Zambia is anticipated to provide a boost to the operations of the Walvis Bay Port. Officials from both Namibia and Zambia are of the opinion that this initiative, launched at the Katima Mulilo border post this week, will be advantageous due to the increasing trade of imports and exports between the Port of Walvis and Zambia as well as the Democratic Republic of the Congo. The Zambian Minister of Home Affairs and Internal Security, Jack Mwiimbu emphasized the timely and strategic nature of the 24-hour operation’s inauguration at the border.…

25 Aug

AFRAA to join Focus Africa Initiative

Observer Money

The International Air Transport Association (IATA) and the African Airlines Association (AFRAA) has announced that AFRAA is joining the Focus Africa initiative. Focus Africa aims to maximize the contribution of aviation to development across the African Continent by better serving passengers and shippers. Under Focus Africa, private and public stakeholders are committed to delivering measurable improvements in six critical areas - safety, infrastructure, connectivity, finance and distribution, sustainability, and skills development. “AFRAA strengthens the Focus Africa coalition as we work to increase aviation’s role in Africa’s development. This has enormous promise. The continent is home to the world’s most rapidly…

24 Aug

ICT program geared toward skills development

Observer MoneyICT program geared toward skills development, Namibia Seeds for the Future 2023 program

Martin Endjala Namibia and Huawei Telecommunication Technologies last week Friday, launched the Namibia Seeds for the Future 2023 program, an innovative initiative by Huawei to identify and develop talent in the Information Communications Technology (ICT) sector. The Seeds for the Future program is a global flagship corporate social responsibility program whose main aim is to cultivate local ICT professionals in the countries where it is operating. This is done by offering undergraduate students training on ICT technologies and solutions and a first-hand working experience of the operations of the dynamic telecommunications company and Chinese culture. The program is said to…

23 Aug

RFIN launches 16th annual conference edition

Observer MoneyRetirement Funds Institute of Namibia (RFIN), Sabrina Jacobs

Stefanus Nashama The Retirement Funds Institute of Namibia (RFIN) yesterday launched its 16th annual conference edition under the theme "Towards a Relevant, Resilient and Resourced Future – Putting the 'R' Back into Savings". Speaking during the launch, the company Vice-Chairperson Sabrina Jacobs, said this year's conference holds a special significance as RFIN delves into a theme that resonates deeply with the challenges and opportunities of its time. According to Jacobs, the conference will take place on the 21 and 22 September 2023, at Droombos in the capital. She indicated that the conference will be attended by registered delegates and delegates…

21 Aug

Keeping repo rate unchanged a positive sign: analyst

Observer MoneyKeeping repo rate unchanged a positive sign: analyst, Sheehama

Martin Endjala Economic analyst Joseph Sheehama has praised the Bank of Namibia for keeping the repo rate unchanged, saying it will benefit those with bank loans, especially home mortgages. In an interview with Windhoek Observer last week, Sheehama said, that the Bank of Namibia's decision to keep the repo rate unchanged at 7.75 per cent was unexpected, but maintaining the status quo is a positive sign and will provide moderately needed support to the homeowners, especially those with mortgage loans. A further reduction in interest rates would have been the preferred course of action to bolster overall market confidence, and…

21 Aug

Butchery will improve value addition for Outapi farmers

Observer MoneyAmarika Farmers’ Cooperative near Outapi in the Omusati Region, Butchery will improve value addition for Outapi farmers

Niël Terblanché A new butchery at the Amarika Farmers’ Cooperative near Outapi in the Omusati Region will focus on adding value to the produce of rural farmers. The butchery was officially opened by the Minister of Agriculture, Water and Land Reform Calle Schlettwein last week. During the official opening of the new facility, the agriculture minister called on all the local farmers and residents in the region to support the efforts of the Amarika Farmers’ Cooperative in their quest to increase livestock production and in maximizing their profits. Schlettwien also called on the Amarika Farmers’ Cooperative to gain better knowledge…

18 Aug

Namibia to receive N$5.5 Billion in oil exploration

Observer Money

Chamwe Kaira In the realm of deep-water exploration expenditures by continent, Namibia is poised to secure the largest allocation of exploration funds in Africa from Total Energies. The company is set to invest US$300 million (equivalent to N$5.5 billion) for the assessment of the Venus oil well situated offshore Namibia. This disclosure emerged during the Namibia Oil and Gas Conference held in Windhoek, presented by Namcor executive Shiwana Ndeunyema. Ndeunyema highlighted that the initial investment might escalate due to the potential for discovering additional resources. Preliminary estimations indicate that Graff and Venus fields possess the capacity to nearly double Namibia’s…

18 Aug

Inflation hits alcohol, tobacco

Featured, Observer MoneyInflation hits alcohol, tobacco

The inflation rate for alcoholic beverages and tobacco stood at 6.9% in July 2023 compared to 5.4% registered in July of the preceding year The increase in the annual inflation rate for this category resulted from an increase witnessed in the subcategory of alcoholic beverages which increased by 7.7% in July 2023 compared to 5.4% recorded in July 2022, figures by the Namibia Statistics Agency revealed. The main products which pushed up the inflation rate for this subcomponent in July 2023 were sparkling wines/champagnes (from 1.2% to 10.6%); Wines (from 0.9% to 8.6%) and liqueurs (from -3.0% to 1.1%). Annual…

18 Aug

United Africa selling multi-million properties

Observer MoneyUnited Africa selling multi-million properties

Chamwe Kaira United Africa Group is in the process of selling its multi- million Namibia dollars property portfolio. The group has a vast property profile which includes hotels, commercial office blocks, retail space, industrial, residential, student accommodation and parking. Information gathered by Observer Money shows that the property portfolio currently consists of over 32 000 square meters of property in Windhoek and surrounds and includes hotels in Walvis Bay, Lüderitz, the Caprivi Strip, Ondangwa and Oshakati. WH Auctioneers Properties, in association with Solution Strategists, have been instructed, on a sole and exclusive basis, to dispose of a property portfolio, owned…

18 Aug

Government, Peugeot Opel to decide plant future

Featured, Observer MoneyGovernment

Chamwe Kaira With the future of the Peugeot Opel Assembly plant hanging in the balance, the government and PSA Automobiles, the two shareholders on the plant are expected to hold crucial talks that will determine the future of the plant. “The two shareholders have to meet and agree on the way forward. That is all, I am allowed to say at the moment,” Michael Humavindu, deputy executive director of industrialisation and enterprise development at the Ministry of Industrialisation and Trade said this week. Humavindu is also a board member of the company. It is not clear when the shareholders will…