Observer Money

This week, Eng. Stephen Dihwa, Executive Director, Southern African Power Pool Coordination Centre (SAPP) talks about the impact that the proposed Baynes Hydropower project by Namibia and Angola will have on the southern African region. Observer Money (OM): The Namibian government has approved the signing of the agreement to develop the Baynes Hydropower project with Angola, what does the Baynes Hydropower project mean for SAPP? Stephen Dihwa (SD): Baynes Hydropower Power project will provide much needed additional clean power supply in the SADC Region starting with Namibia. As Angola will then be interconnected to the rest to the region, this…

CHAMWE KAIRA Bankers Association of Namibia (BAN) has said the issue of interest rates and perceived high bank charges that props up from time to time was just one of the many issues that was discussed with President Nangolo Mbumba last week. “The meeting was a mere catch up with him on what we have been doing in our space to assist new industries, create employment and assist with economic development. This is an old issue coming from last year that he touched on, with many other constructive issues. So, it’s not a new issue that cropped up now. BAN…

CHAMWE KAIRA Ohorongo Cement, which has a production capacity of more than one million tonnes of cement per year, has no immediate plans to expand its operations. “There are no immediate expansion plans. We can do more than one million tonnes of cement per year,” Rudolf Coetzee, general administration manager told Observer Money. Regarding some of the challenges that the company faces in transporting cement, the company said the challenges with railway transportation is linked to the challenges experienced by TransNamib. “We do have a good relationship with TransNamib, and the focus is on maintaining the relationship to the benefit…

The International Air Transport Association (IATA)’s year on year analysis of the African air cargo market in June saw an increase of 11.8% in demand for air cargo by African airlines. IATA said demand on the Africa–Asia market increased by 37.5% compared to June 2023, the strongest performance of all trade lanes. Capacity increased by 23.8% year-on-year. By comparison, the global airline industry reported a 14.1% surge in demand for air cargo transport compared to June 2023 levels boosting first half performance and beating the 2021 all-time record levels of air cargo traffic. June also marked the 7th consecutive month…

JULIE HAUWANGA Our country looks to be going through a ‘glow-up,’ and the world is noticing. Oil and gas exploration, the Green Hydrogen projects that are being developed, and a resurgent tourism sector all bode well for Namibia’s socio-economic future. As a young Namibian, this fills me with joy, but there is also some apprehension. Every day, we hear of an imminent economic boom and the amazing opportunities it will bring our nation. My apprehension stems from my worry about this growth. How can Namibians benefit and prosper from the oil and gas boom and the various green Hydrogen projects?…

New York diamond dealer Manashe Sezanayev has been charged with stealing from diamond merchants by replacing US$460 000 worth of natural diamonds with synthetic stones. Sezanayev, who operates Rachel’s Diamonds in New York’s diamond district, pleaded not guilty to the charges, which included stealing and fraud, according to a recent release from the Manhattan District Attorney’s Office. In February, Sezanayev made an appointment with a diamond merchant to view two stones he claimed to be interested in buying. During the visit, he allegedly swapped the two natural gems with synthetics he had previously cut to match, while inspecting them. The…

Niël Terblanché TransNamib Holdings Ltd and the International University of Management (IUM) signed a Memorandum of Agreement (MoA) to drive innovation and development in the Namibian transport sector. Desmond van Jaarsveld, chief executive officer of TransNamib during the signing of the agreement, said the collaboration is set to pave the way for unparalleled growth in human resource development, knowledge sharing, and research, all in support of Namibia's National Development Plans and Vision 2030. The agreement introduces cutting-edge programmes, workshops, and courses designed to enhance the skills and capacity of TransNamib’s workforce. “These initiatives aim to ensure that employees are well-equipped…

CHAMWE KAIRA Although several retailers have said there is a shortage of five cent and 10 cent coins in circulation, the Bank of Namibia maintained this week that there is not a shortage of 10 cents. “The bank however discontinued the minting and the issuance of five cents in 2019 which is placing undue pressure on the 10 cent coin denomination. The bank is considering long term strategies to alleviate this pressure,” said Kazembire Zemburuka, Director of Strategic Communications and International Relations at the Bank of Namibia. SBV Namibia, the company which collects banknotes and coins for distribution to shops,…

CHAMWE KAIRA B2Gold Namibia is expecting to increase its consumption of renewable energy at its Otjikoto Mine to 30% to 35% when a 10MW renewable power plant is completed in December this year. The plant is being constructed by Sustainable Power Solutions, an Independent Power Producer and in turn B2Gold will buy all the power from the plant. The plant will cost N$200 million. B2Gold Namibia, Country Manager, John Roos said in an interview that the current solar capacity on the mine is a 6.8MW DC plant that delivers about 5.8MW AC to its power plant that contributes to about…