Observer Money – Page 26

13 Oct

Manufacturing sector boosted by brewing Lion Lager locally

info_e12wt4csObserver MoneyAnheuser Busch InBev (AB InBev), Lion Lager, Namibia’s green industrialisation

Martin Endjala Anheuser Busch InBev (AB InBev), situated in Okahandja, announced that Lion Lager will soon be brewed in Namibia. The Minister of Industrialisation and Trade, Lucia Iipumbu, shared this information last week during the launch of the local production of Lion Lager in Okahandja. “Initiatives like today’s launch will further bolster this sector, supporting the government’s goals of sustainable economic growth and industrialisation,” she said. Iipumbu said the country, like many worldwide, continues to face the challenges posed by global economic fluctuations, underscoring the importance of attracting sustainable investment into the local economy. According to her, AB InBev’s decision…

13 Oct

Air Botswana delays planned flights between Windhoek and Gaborone

info_e12wt4csFeatured, Observer MoneyAir Connect Namibia

Niël Terblanché Air Connect Namibia has announced that due to unforeseen circumstances, this route launch has been delayed, with a new commencement date that will be communicated at a later stage. In September Air Connect Namibia announced that Air Botswana would begin flights connecting Gaborone to Hosea Kutako International Airport, with continuing service to Durban’s King Shaka International Airport in South Africa as of 1 October. Bisey /Uirab, the chairperson of Air Connect Namibia and chief executive officer of the Namibia Airports Company, expressed the airline's regret for the postponement. Air Connect Namibia is a collaboration between NAC, Gondwana Collection,…

10 Oct

Namibian Navy celebrates cooperation with Brazilian counterpart

info_e12wt4csObserver MoneyBrazilian Navy

Niël Terblanché The Namibian Navy proudly commemorated 20 years since its inception its long-standing ally, the Brazilian Navy. In a congratulatory message, the Brazilian Navy expressed its pride in celebrating this important date with one of its "sister navies" in Africa. The Brazilian Navy also pointed to the significance of this year, as it also marks 30 years of the Brazil-Namibia Naval Cooperation Agreement, an unprecedented partnership that continues to strengthen ties between the two Atlantic navies. The celebrations kicked off on Thursday morning with a street procession through Walvis Bay. Led by the Namibian Navy Band, Marines and sailors…

10 Oct

Maize imports stood at 5 700 tonnes in September

info_e12wt4csObserver Money

CHAMWE KAIRA While South Africa’s maize production is down 22% from the last season because of the tough mid-summer drought to an expected harvest of 12,8 million metric tonnes, South Africa has continued to export maize to the Southern African region. The anticipated harvest and significant carryover stock from the previous season, according to Wandile Sihlobo, the chief economist of the Agricultural Business Chamber of South Africa, have given South Africa confidence in its maize supplies. Sihlobo said in the week of September 27, South Africa exported 38 000 tonnes of maize. Zimbabwe received 54% of this volume, Botswana received…

10 Oct

The digital landscape is ever evolving

info_e12wt4csObserver MoneyE-commerce

EMILIA EINO Namibia is experiencing is the rise of E-commerce. Over the past few years, E-commerce has become an integral part of our lives, providing us with a plethora of benefits. This article explores the largely unexplored general benefits of E-commerce in Namibia, which are set to redefine our nation's economic and consumer experiences and future expectations. One of the most significant advantages of E-commerce in Namibia is the accessibility it is likely to offers to citizens accessibility. Whether you reside in the busy city of Windhoek, the peaceful landscapes of the Kunene Region, or the charming towns of the…

10 Oct

Diamond prices decline in September

info_e12wt4csObserver MoneyJewellery & Gem World show, RapNet Diamond Index

CHAMWE KAIRA Diamond prices fell in September as the market continued to suffer from an oversupply, Rapaport Group said this week. Indian manufacturers reduced rough-buying and polished production to rebalance supply and demand. Polished inventories began to decline, but it will take a few weeks for them to fall to healthy levels. Shortages of in-demand items are likely. The RapNet Diamond Index dropped 4% for 0.30-carat stones, 4.2% for 0.50 carats, and 2.5% for 3 carats. Lower-quality stones saw a gentler decline, with prices of round, 1-carat, D to H, SI diamonds slipping 3.5% in September. Prices of fancy shapes…

10 Oct

Petrol prices to help ease inflation

info_e12wt4csObserver Money

Looking ahead, Namibia's inflation is expected to continue easing, supported primarily by the Ministry of Mines and Energy’s recent decision to reduce fuel prices for October 2024. Petrol prices have been cut by N$1 per litre, bringing the price down to N$20.25 per litre, while diesel 50ppm and diesel 10ppm now cost N$19.72 and N$19.82 per litre, respectively. This reduction should alleviate inflationary pressures, especially in the transport sector, which has been a key driver of inflation over the past few months. The annual inflation rate for September stood at 3.4%, marking the lowest level since August 2021. This represents…

10 Oct

Stand-alone off-grid solar solutions needed

info_e12wt4csEnergy, Observer Money

Off-grid solar energy is emerging as a game-changer for Southern Africa's power challenges. Patrick Tonui, Head of Policy and Regional Strategy at GOGLA, is at the forefront of this revolution. In a conversation with Observer Money, he discussed how off-grid solar is helping to close energy gaps in Namibia and South Africa, providing affordable and sustainable options for millions of people. Observer Money (OM): How will off-grid solar help with the power deficit in Southern Africa, including Namibia? Patrick Tonui (PT): Off-grid solar solutions can play a key role not just as the quickest, most efficient way to provide first-time…

10 Oct

Livestock industry battles drought, market challenges & rising theft

info_e12wt4csObserver MoneyJako van Wyk, Livestock Producers Organisation (LPO)

CHAMWE KAIRA Livestock Producers Organisation (LPO) chairman Jako van Wyk has said the past year was marked by challenges, including the current drought. The drought led to President Nangolo Mbumba declaring a state of emergency. According to Van Wyk, the drought was particularly severe because producers had not yet fully rebuilt their herds or recovered economically from the 2019 drought, and large parts of the country's pastures were already under stress. “The presidential declaration was met with gratitude by producers, as it initiated the necessary protocols to address the drought across all regions, unlocking the budgeted N$825 million for relief…

10 Oct

Basic commodity prices remain high in Khomas

info_e12wt4csObserver MoneyNamibia Statistics Agency

CHAMWE KAIRA The year-on-year inflation rate stood at 2.8% in Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi) during September, compared to 6.1% registered during September 2023. The Namibia Statistics Agency said the slowdown in the annual inflation rate emanated mainly from the slow increases observed in the price levels of ‘alcoholic beverages’ (from 10.9% to 4.6%); ‘food and nonalcoholic beverages’ (from 9.6% to 4.5%); and ‘education’ (from 4.5% to 0.6%). On a monthly basis, the inflation rate declined by 0.2% compared to a 0.3% increase recorded during the preceding month. In Zone 2…