Observer Money – Page 28

03 Oct

Bank Windhoek gets stable outlook rating

info_e12wt4csObserver MoneyBank Windhoek Limited, Capricorn Group Limited, GCR Ratings

CHAMWE KAIRA GCR Ratings (GCR) has affirmed Bank Windhoek Limited’s Namibian long and short-term national scale issuer ratings AA(NA)/ A1+(NA) respectively, GCR has announced. At the same time, the South African long-term issuer rating has been affirmed at A(ZA). The rating outlooks remain stable. GCR has also confirmed Capricorn Group Limited's Namibian long- and short-term national scale issuer ratings AA-(NA)/A1+(NA), respectively, with a stable outlook. The ratings of Bank Windhoek Limited reflect the strengths and weaknesses of Capricorn Group Limited. The group views the bank as its core operating subsidiary, accounting for a larger portion of its total assets and…

03 Oct

Oryx property portfolio valued at N$4.1 billion

info_e12wt4csObserver MoneyDebenture Trust Deed, Namibian Stock Exchange, TPF International Limited

CHAMWE KAIRA Oryx Properties has stated in its 2024 integrated report that its diverse and growing property portfolio is valued at N$4.167 billion. This includes all primary real estate sectors and continues to expand geographically, strengthening the group’s resilience to economic fluctuations. Moreover, the company said investors enjoy international exposure to the Croatian property sector through our substantial 26% shareholding in TIL. “Our primary listing on the NSX offers investors a transparent view of our performance. To safeguard long-term value for our unitholders, the policy is to pay out a minimum of 75% of total distributable income until 2027, after…

03 Oct

Inflation expected to stabilise at 4.7%

info_e12wt4csObserver MoneyBank of Namibia, Monetary Policy Committee (MPC)

CHAMWE KAIRA Simonis Storm stockbroker and wealth management has projected that inflation will stabilise at approximately 4.7% year on year by the end of this year. Furthermore, Simonis expects an additional 25 basis point rate cut at the December Monetary Policy Committee (MPC) meeting, bringing the year-end repo rate to 7.25%. The central bank is likely to adopt a cautious stance, closely monitoring the effects of this monetary easing before considering further policy adjustments, the firm noted. The current repo rate in Namibia stands at 7.50%, with the prime lending rate at 11.25%. Simonis said that although these rates remain…

03 Oct

Namdeb announces new corporate affairs manager

info_e12wt4csObserver MoneyGrace Luvindao

Namdeb this week announced the appointment of Grace Luvindao as its new corporate affairs manager. Namdeb said Luvindao brings over a decade of experience in communications, public relations and marketing. She holds a degree in media studies: public relations and advertising, from the University of Namibia, a master’s degree in media and international development from the University of East Anglia, and is currently undertaking a Post-Graduate Diploma in Business Administration from the Namibia Business School. In her previous role as group communications and stakeholder engagement manager at Capricorn Group, she was responsible for developing and implementing Capricorn Group’s stakeholder engagement…

03 Oct

Deep Yellow appoints Jim Morgan to head projects

info_e12wt4csObserver MoneyMulga Rock Project, Paladin Energy, Tumas Project in Namibia

CHAMWE KAIRA Deep Yellow Limited has appointed Jim Morgan as head of project delivery, the company announced this week. Morgan is a seasoned mining executive with over 35 years of experience on high-value uranium and resource sector projects. Morgan is well known to the Deep Yellow team, as he was previously executive general manager-project development for Paladin Energy from 2005–2012, during the period when John Borshoff was Paladin CEO. Morgan played a critical role in Paladin’s successful construction of the Langer Heinrich uranium mine in Namibia and the Kayelekera uranium mine in Malawi. Following his time at Paladin, Morgan was…

02 Oct

Namibia gears up for World Clean-Up and Arbour Days

info_e12wt4csObserver MoneyRomeo Muyunda, World Clean-Up Day and Arbour Day

Niël Terblanché By participating in the commemoration of both World Clean-Up Day and Arbour Day, Namibians will have the opportunity to be part of global efforts to protect the environment and enhance sustainable living. The Ministry of Environment, Forestry, and Tourism has announced that Namibia will be commemorating these important global events. The ministry's spokesperson, Romeo Muyunda, said that the country will raise awareness about environmental health and sustainability on both World Clean-Up Day and Arbour Day. World Clean-Up Day, celebrated internationally on 20 September, has been postponed to 12 October 2024 in Namibia. “The ministry is calling on Namibians…

02 Oct

!Gawaxab calls for innovation with stability in financial transformation

info_e12wt4csObserver MoneyBank of Namibia, Johannes !Gawaxab, Modernising Namibia’s Financial Landscape for a Prosperous Future

Martin Endjala The governor of the Bank of Namibia (BoN), Johannes !Gawaxab has called for adaptability and innovation in Namibia’s financial sector, urging the country to embrace technological advancements while maintaining stability. !Gawaxab made this statement on Tuesday during a lecture at the University of Namibia (UNAM) titled "Modernising Namibia’s Financial Landscape for a Prosperous Future." The lecture provided a platform to outline the bank’s strategic transformations to foster a financial system that promotes inclusivity, resilience, and sustained growth. "Success will depend on our ability to stay ahead of the curve, be adaptable, and foster innovation without compromising stability,” he…

02 Oct

Namfisa leads consumer protection drive

info_e12wt4csObserver MoneyConsumer Protection Bill, Consumer Protection Month, Elijah Mukobonda, Kenneth Matomola

Martin Endjala The Namibia Financial Institutions Supervisory Authority (Namfisa) has dedicated October to consumer protection to raise public awareness about financial rights and obligations. Namfisa's chief executive officer, Kenneth Matomola, on Wednesday, emphasised the importance of educating consumers on protecting themselves from market misconduct and making informed financial decisions. “This initiative provides a valuable platform to highlight the critical importance of protecting and upholding consumer rights, shielding them from market misconduct, and ensuring they are informed about their responsibilities when engaging with financial institutions,” explained Matomola. Despite the country lacking a formal Consumer Protection Bill, consultations are ongoing, led by…

02 Oct

Alpha Petroleum denies ties with Nigerian firm

info_e12wt4csEnergy, Observer MoneyAlpha Energy Nigeria, Alpha Petroleum (Pty) Ltd.

Erasmus Shalihaxwe Alpha Petroleum (Pty) Ltd., a Namibian company in the oil and gas business, as well as offshore diamond mining, has refuted claims of having a connection with Alpha Energy Nigeria. This is in response to an article that was published in NewsGuide Africa and Business Express Namibia claiming that Alpha Petroleum has engaged Alpha Energy Nigeria and their representative to initiate offshore diamond mining operations under contract with Namdeb. Ashley Brendell, representing Alpha Petroleum, said in a statement that these claims are false and misleading. “These articles contain significant inaccuracies and misrepresentations, which are both damaging and completely…

02 Oct

Manica Group marks century of logistics excellence

info_e12wt4csObserver MoneyNamibia’s economic growth, Ralph Ruiters

Niël Terblanché Manica Group Namibia marked its centennial anniversary with a vibrant and energetic street carnival in Walvis Bay on Tuesday. The company, founded in 1924, reached an extraordinary milestone this year, commemorating 100 years of logistics expertise in Namibia. Ralph Ruiters, Managing Director of Manica Group Namibia, reflected on the company’s incredible journey. "It’s not every day that a company turns 100 years old, but here we are," he said, acknowledging the support of Manica’s customers and suppliers. He also stressed the critical role Manica plays in Namibia’s economic growth. “In the last two years, Walvis Bay has exploded…