Observer Money – Page 30

26 Sep

Tourism registers steady growth

info_e12wt4csObserver Money

Namibia’s tourism sector exhibited resilience and steady growth in August, bolstered by a diverse mix of both regional and international visitors. European tourists, in particular, were a driving force, with their share of international arrivals increasing to 70.28%, up from 66.33% in July 2024. This upward trend underscores Namibia’s growing appeal as a leisure destination for European travellers, emphasising the importance of tailored marketing strategies aimed at this key demographic. The continued dominance of holiday and leisure travel presents opportunities for further infrastructure development to enhance the visitor experience and maintain positive momentum. However, as a significant portion of Namibia’s…

23 Sep

NAMPOA empowers journalists with in-depth insights into oil and gas industry

info_e12wt4csEnergy, Observer MoneyEnvironmental and Social Impact Assessments (ESIA)

Niël Terblanché As Namibia’s upstream petroleum industry continues to grow, driven by significant offshore discoveries, public interest has surged. Along with growing interest comes a pressing need for the media to provide accurate, well-informed coverage of the sector. In response, the Namibia Petroleum Operators Association (NAMPOA) is hosting a press seminar aimed at enhancing journalists’ understanding of the oil and gas industry, particularly its upstream operations. Scheduled for 24 September 2024, this seminar seeks to bridge the information gap between the oil and gas industry and the public by equipping media professionals with the tools necessary for informed reporting. The…

23 Sep

Residential development dominates August building statistics

info_e12wt4csObserver MoneyNational Housing Enterprise (NHE), Simonis Storm Securities

Martin Endjala Residential development in Windhoek and Swakopmund dominated building statistics during August, with construction activities in both cities continuing to show growth. According to a report by Simonis Storm Securities, construction activity remained modest in both Windhoek and Swakopmund, with continued development in both regions. Windhoek recorded an increase in approvals from 189 in July 2024 to 222 in August 2024, the highest on record for the year. Swakopmund also saw a rise in approvals, jumping from 39 to 64 during the same period. Despite this increase in construction activity, the overall value of completed projects experienced a sharp…

23 Sep

A 50MW solar power plant to be constructed near Ruacana

info_e12wt4csEnergy, Observer MoneyCathral Investment Seventy-Seven (Pty) Ltd

Martin Endjala A 50-megawatt photovoltaic (PV) power plant is set to be constructed near Ruacana if a proposal to build it is approved. Cathral Investment Seventy-Seven (Pty) Ltd. (CI77), plans to develop a 50 MW solar power plant on a site at the NamPower Kunene substation in the Omusati region. “The plant is not for local supply, but it's for international supply and central Namibia,” Enviro Dynamics’s environmental consultant, Norman Van Zyl said during a telephone interview with the Windhoek Observer on Monday. Enviro Dynamics has been instructed to apply for an Environmental Clearance Certificate (ECC) on behalf of CI77.…

19 Sep

Bank Windhoek invests N$400m in digital services

info_e12wt4csObserver MoneyCapricorn Private Wealth, Corporate Institutional Banking, James Chapman, Selekt Platinum

CHAMWE KAIRA The branch will remain an integral part of Bank Windhoek’s business, Bank Windhoek's Executive Officer of Retail Banking Services and Specialist Finance, James Chapman has said. The branches remain important for clients who come for financial advice and other commercial services. Over the last three years, Bank Windhoek has invested N$400m in digital platforms and Chapman said the bank will continue to invest in data and digital services in the future. He told Observer Money that when the bank embarked on the digital journey, its view was not that the branch will become obsolete. Chapman said transactions services…

19 Sep

Roaming deals eyed with SADC members

info_e12wt4csObserver MoneyBotswana Communications Regulatory Authority, Communications Regulatory Authority of Namibia

The Ministry of Information and Communication Technology has announced that Namibia and Botswana have agreed to reduce roaming charges, with cuts of up to over 60% starting in August 2024. The new rates will lower costs for calls, SMS and data, with reductions reaching up to 94% for data and 89% for calls. The Communications Regulatory Authority of Namibia (CRAN) and Botswana Communications Regulatory Authority (BOCRA) have told Telecom Namibia (TN Mobile) and Mobile Telecommunications Company (MTC) and Botswana Telecommunications Corporation Limited (BTC), Mascom Wireless Botswana (Mascom) and Orange Botswana (Orange) to slash roaming prices. Observer Money asked Shoki Kandjimi,…

19 Sep

Hyphen targeting to supply excess electricity to grid

info_e12wt4csEnergy, Observer MoneyENERTRAG SE, Hyphen Hydrogen Energy, Nicholas Holdings Limited

Hyphen Hydrogen Energy, the green hydrogen development company has been awarded the rights from the government following a competitive tender process, to develop Namibia’s first gigawatt scale green hydrogen project. Hyphen is a joint venture between controlling shareholder ENERTRAG SE and Nicholas Holdings Limited. This week, Hyphen Hydrogen Energy informed Windhoek Money that the Hyphen’s project is being developed as the first step in the implementation of the government’s strategy for the development of a large-scale green hydrogen industry in various regions in Namibia to support both economic growth in Namibia and assist the world in achieving its decarbonisation goals.…

19 Sep

NBL profit to drop by 90%

info_e12wt4csObserver MoneyHeineken South Africa, Namibian Stock Exchange

CHAMWE KAIRA Namibia Breweries Limited expects profit after tax and basic earnings per share are expected to decrease by more than 90% for the twelve months ended 30 June 2024. The company said in a trading statement that the decrease is attributable to the once-off extraordinary gains related to the profit realised on the sale of the shares held in Heineken South Africa (RF) Proprietary Limited in the comparative year. Namibia Breweries said headline earnings per share from continuing operations for the twelve months ended 30 June 2024 are expected to decrease by less than 5% compared to the comparative…

19 Sep

Namibia becoming major oil and gas player

info_e12wt4csObserver MoneyGalp, Graff and Jonker fields, Shell and TotalEnergies

Namibia’s upstream oil and gas sector has become a focus of intense interest in recent years. The Orange Basin, off the country’s west coast, captured the energy sector’s imagination in 2022, when Shell and TotalEnergies announced the discovery of light oil and natural gas there, in the Graff and Jonker fields. In 2023, Galp joined the party, announcing their Mopane discovery, and enthusiasm soared. Until now, the Namibian upstream has been focused on exploration, and the country has yet to achieve any commercial production. However, the giant discoveries made since 2022 have changed the game and made Namibia a global…

19 Sep

Oceana’s hit by lower horse mackerel sales

info_e12wt4csObserver MoneyCommercial Cold Storage Logistics Group Limited, Wild Caught Seafood

CHAMWE KAIRA Oceana Group Limited said in results for 11 months ended 25 August 2024 that horse mackerel performance in Namibia was negatively impacted by a combination of lower sales volumes, resulting from decreased catch rates, and weaker market prices. In addition, vessel operating costs rose by 19% due to the lower catch rates impacting cost recovery and higher fuel costs stemming from the use of higher priced intermediate fuel oil for the entire period. The group disposed of its interest in Commercial Cold Storage Logistics Group Limited (CCS) and realised a profit of N$477 million before taxation and N$381…