Observer Money

Standard Bank Namibia has informed shareholders that because of regulatory processes that must still be finalised in relation to the appointment of a new chairman for the organisation, the tenure of Herbert Maier as a director and chairman on the board of SBN Holdings Limited and Standard Bank Namibia is herewith extended until further notice. The firm had said in September that it had extended of tenure of the chairman of the board of directors of the organisation until 31 December 2023. Maier was appointed to the SBN board of directors on 1 October 2010 as an independent non-executive director…

Observer Money (OM): Describe the year 2023 in terms of the business environment? Riaan Burger, Namdeb CEO (RB): 2023 has been a challenging yet progressive year for Namdeb. Following the announcement of our Long-term plan (LTP) in 2021, it was important to drive an implementation strategy that would ensure delivery. As a result, we devised a ramp-up plan with a focus on the Southern Coastal Mine operation, which is Namdeb's mainstay and future. This ramp-up plan meant that we increased our mining capacity with a holistic view of the operations from mining, treatment as well as the machinery and equipment…

Observer Money (OM): Describe the year 2023 in terms of the business environment? Sakaria Nghikembua, CEO of Momentum Metropolitan Namibia (SN): Overall, the business environment remained challenging. Interest rates reached their all-time high in over 10 years. Inflation also remained relatively high. Both high interest and inflation rates, have had the effect of reducing disposable incomes, putting strain on consumers. On the other hand, the economy has started picking up, somewhat counterbalancing the interest- and inflationary effects, though economic growth rates remained fairly low. On the whole, though, the environment remained positive for business. OM: What was the biggest challenge…

Observer Money (OM): Describe the year 2023 in terms of the business environment? Sven Thieme, O&L Executive Chairman (ST): In 2023, Namibia's business environment showed remarkable resilience and growth despite global challenges. Projections indicated that Namibia's real GDP was expected to grow by approximately three percent, a positive outlook shared by organizations such as the African Development Bank and the World Bank. Key sectors such as agriculture, mining, and tourism played pivotal roles in driving this growth. Investments in irrigation and infrastructure projects injected new life into the agricultural sector, while strong demand for minerals like uranium, gold, and diamonds…

Observer Money (OM): Describe the year 2023 in terms of the business environment? Emilia Nghikembua, Chief Executive Officer of the Communications Regulatory Authority of Namibia (CRAN), (EN): Affordability: At the beginning of 2023, CRAN held a consultation with operators to reduce the cost of data. As a result of this consultations operators voluntarily reduced the cost of data resulting in our improved ranking both at regional and international level: Namibia holds the 20th position in Sub-Saharan Africa. This reflects an improvement from its 2020 ranking of 27th. On a global scale, Namibia holds the 169th position, showing progress from its…

Observer Money (OM): Describe the year 2023 in terms of the business environment? Andre Compion, Managing Director, FlyNamibia (AC): We saw an amazing recovery in passenger numbers due to the boom experienced in tourism. The year did however present major challenges due to astronomical increases in the price of jet fuel and the weakness of the Namibia dollar against the US dollar, due to our industry’s exposure to USD-linked costs. OM: What was the biggest challenge that FlyNamibia faced in 2023? AC: Achieving revenue that would sustain operations versus maintaining the lowest possible fares. OM: What is the company looking…