Observer Money – Page 25 – Windhoek Observer

29 Aug

Uranium exploration gets positive feedback

ObserverObserver MoneyGIB Mining in EPL 10131, Namisun

CHAMWE KAIRA Namisun, the environment project company has said its opinion is that the environmental aspects and potential impacts relating to the proposed uranium exploration activities of GIB Mining in EPL 10131 in the Namib Naukluft National Park (NNNP), in the Erongo Region, have been successfully identified and assessed as part of this EIA Scoping process. Namisun said relevant management and mitigation measures have been provided to ensure significant environmental and social impacts are avoided or minimized and positive social impacts enhanced, where relevant. In consideration of the park management plan of NNNP, careful consideration from GIB Mining as well…

29 Aug

Demand for African airlines cargo grow by 6.2%

ObserverObserver MoneyInternational Air Transport Association (IATA)

The International Air Transport Association (IATA) has just released its July 2024 year- on -year analysis of the air cargo market and traffic. During the month in review, African airlines saw 6.2% year-on-year demand growth for air cargo in July, the lowest of all regions and their lowest recorded figure in 2024. Demand on the Africa–Asia market increased by 15.4% compared to July 2023 while July capacity increased by 10.5% year-on-year July’s figures reflect slower year-on-year demand and capacity compared with June when demand was up 11.8% year-on-year and capacity rose expanded by 23.8% year-on-year. By comparison, the global airline…

28 Aug

Namibia leads Africa’s Green Hydrogen revolution

ObserverEnergy, Observer MoneyCleanergy Solutions, Daures Hydrogen Village, Elof Hansson, HDF Energy, HyIron, Hyphen Hydrogen Energy, Hyrail, Zhero

Niël Terblanché Namibia is rapidly emerging as a leader in the green hydrogen industry, with eight active projects that are set to transform the nation's energy landscape and position it at the forefront of global green energy initiatives. These projects, which include Hyphen Hydrogen Energy, Elof Hansson, HDF Energy, HyIron, Zhero, Cleanergy Solutions, Daures Hydrogen Village, and Hyrail, are developing essential production infrastructure across the country, from wind and solar farms to electrolysis facilities and desalination plants. According to James Mnyupe, Namibia's Green Hydrogen Commissioner, the heart of this green revolution is the Hyphen Hydrogen Energy project, strategically located in…

27 Aug

Telecom faces challenges amid mobile and data network expansion

ObserverObserver Moneydata network expansion

Hertta- Maria Amutenja Telecom is grappling with challenges as it undertakes a substantial expansion of its mobile and data services across the country. The company has acknowledged difficulties in infrastructure investment, which have hampered efforts to modernise its network. Stanley Shanapinda, the chief executive officer of Telecom Namibia, addressed these issues during an update on the implementation of the company’s mobile and data turnaround strategy. He noted that the limited investment in infrastructure over the past decade has resulted in the company lagging behind in upgrading its mobile network to 3G and 4G standards. “For a certain period, Telecom found…

26 Aug

Trustco to provide deposit repayment plan on Tuesday

ObserverObserver MoneyBank of Namibia (BoN), Trustco Bank Namibia Limited (TBN)

Martin Endjala Trustco Group Holdings Ltd. (TGH), the parent company of Trustco Bank Namibia Limited (TBN), has until Tuesday to provide the Bank of Namibia (BoN) with a deposit plan. This follows TGH's decision to return TBN’d banking license to the BoN for cancellation with immediate effect. Quinton van Rooyen, Chairman of Trustco Group Holdings' Board Investment Committee, disclosed this information in a statement last week. "In light of recent developments, Trustco has decided to exit from investing in deposit-taking institutions in Namibia. Our focus is now shifting towards non-deposit-taking financial services, where we see tremendous growth potential,” he said.…

26 Aug

Namibia set to host strategic business forum in Beijing

ObserverObserver MoneyForum on China-Africa Cooperation (FOCAC)

Niël Terblanché Namibia is preparing to play a key role in this year's Forum on China-Africa Cooperation (FOCAC), as its delegation will host a business forum aimed at enhancing strategic economic partnerships with China. The forum, to be held during the event in Beijing from 4 to 6 September, will provide numerous opportunities for business collaborations and at the same time, strengthen bilateral ties between Namibia and China. At the end of last week, Jerobeam Shaanika, the Deputy Executive Director of Namibia’s Ministry of International Relations and Cooperation, reiterated the importance of the event, noting that it presents a unique…

22 Aug

NBL unveils N$337m wine packaging line

ObserverObserver MoneyNamibia Breweries Limited (NBL), Peter Simons

CHAMWE KAIRA Namibia Breweries Limited (NBL) has unveiled its N$337-million wine packaging line, a significant milestone in the company’s ongoing commitment to innovation and growth. The new facility was officially inaugurated by President Dr Nangolo Mbumba at NBL Head Office in Windhoek. In a strategic move to expand production capacity and diversify its brand portfolio, NBL has allocated an additional N$44 million to enhance its existing packaging lines. This upgrade will allow the brewery to produce and package popular ciders such as Savanna and Hunters locally for the first time. Additionally, the brewery’s extended warehouse, covering 4,400 square meters represents…

22 Aug

Curro seeking for more investments

ObserverObserver MoneyCurro Holdings Limited, Walvis Bay Gymnasium

CHAMWE KAIRA Curro Holdings Limited has said in the financial results for the six months ended 30 June that it is actively pursuing opportunities to offer quality education to more learners in Southern Africa. The group opened two new campuses in Walvis Bay and Oshana and also owns the Windhoek Gymnasium. The Walvis Bay Gymnasium opened with 350 pupils. Oshana Gymnasium opened with an initial intake of 200 to 250 learners. The two new schools were built at a total cost of N$240 million. Curro said the two new campuses in Namibia are part of a joint venture. “Much of…

22 Aug

Tsumeb Smelter must buy local goods

ObserverObserver MoneyDundee Precious Metals Inc, Namibian Competition Commission, Sinomine (Hong Kong) Rare Metals Resources Co Limited

CHAMWE KAIRA Sinomine (Hong Kong) Rare Metals Resources Co Limited, which has bought Tsumeb Smelter from Dundee Precious Metals Inc will be expected to buy goods and services below N$250 000 from local companies, under conditions imposed by the Namibian Competition Commission. The commission further said its decision is based on the grounds that the transaction is unlikely to prevent or lessen competition in Namibia. Sinomine and Dundee have promised that there will be specific retrenchments by the merged undertaking for a period of three years after the date of implementation. The company is also expected to comply with the…

22 Aug

Billion dollars for water infrastructure

ObserverObserver MoneyOhangwena II Wellfield Water Supply Schemes, Ondangwa-Omutsegwonime bulk water supply scheme, Outapi Water Treatment Works, Rundu Water Treatment Plant Extension

CHAMWE KAIRA Water utility, NamWater is developing plans to improve Namibia’s water infrastructure with the launch of four major projects valued at over N$1 billion. One of the projects is the Henties Bay reservoir pipeline upgrade that involves the replacement of a critical five-kilometre water pipeline, an essential conduit from the Omdel aquifer. With a project cost of N$15 million, this initiative ensures are liable water supply for the Henties Bay area, reflecting the government’s dedication to service delivery despite Namibia’s challenging geography. NamWater said this upgrade is crucial for maintaining water reliability in one of Namibia’s key coastal towns,…