Observer Money – Page 62 – Windhoek Observer

06 Aug

Interpack fixes salary glitch

Observer Money

Allexer Namundjembo Non-alcoholic beverage manufacturer and distributor Interpack says it has corrected salary discrepancies after several employees were underpaid due to a payroll miscalculation by the Human Resources department. The issue reportedly affected staff who said they received only partial salaries. “We were paid less. It seems like they calculated only the number of days we worked and ignored our basic salaries,” one employee told the Windhoek Observer on condition of anonymity. Former workers also alleged unfair dismissals, claiming some employees were terminated without undergoing formal disciplinary processes. “When I was there, we worked long hours, and some of us…

06 Aug

Protecting Your Data in the Digital Age

Observer Money, Opinions

Johannes Abraham Artificial Intelligence (AI) is transforming the financial industry, making banking more efficient and accessible. However, fraudsters are also leveraging AI to create sophisticated scams that target individuals and businesses. At Letshego Holdings, we are committed to ensuring your financial security and helping you stay informed about emerging threats. Understanding AI-driven fraud and taking proactive measures can help protect your finances and personal information. How AI Fraud Affects You Fraudsters are using AI to impersonate trusted financial institutions, to deceive customers into sharing sensitive information. One of the most concerning scams is AI-powered phishing, where scammers send highly convincing…

05 Aug

Resettled farmers receive commercial land in Omaheke

Featured, Observer Money

Allexer Namundjembo Twenty-two commercial farmers received their farming units during a handover ceremony held last week in the Omaheke Region. The event marked the 12th induction ceremony for resettled farmers under the national resettlement programme. Minister of agriculture, fisheries, water, and land reform, Inge Zaamwani, said the farmers had undergone training before taking ownership of the units. She explained that the 22 units were advertised during three periods: March to May 2023, July 2023, and October to December 2024. “The ministry has planned to provide a platform for the newly resettled commercial farmers, who have been allocated land on 13…

01 Aug

Nuclear energy could inject N$20 billion into economy

Observer Money

Chamwe Kaira The government sees potential in the nuclear fuel cycle chain, including uranium conversion and small modular reactors, with the ability to inject up to N$20 billion into the economy under favourable conditions. These include geopolitical dynamics, market trends, and Namibia’s financial and technical capacity. The sixth National Development Plan (NDP6) shows that one of the planned interventions is to assess the viability of uranium conversion. The plan also sets the stage for considering a nuclear power programme beyond the NDP6 period. The proposed activities include the establishment of a Nuclear Institute of Namibia and exploring flagship nuclear projects…

01 Aug

Talks advance on N$10 billion hydrogen loan

Observer Money

Chamwe Kaira The Namibia Green Hydrogen Programme (NGH2P) is in advanced talks with the European Investment Bank for a €500 million (approximately N$10 billion) facility. The proposed facility carries a 3.5% interest rate with a five-year grace period. Earlier this year, the programme, in partnership with the ministry of finance, submitted a funding proposal to the Climate Investment Funds’ Industry Decarbonisation Program under the Clean Technology Fund. The requested amount ranged from $50 million to $250 million, with a low-cost facility averaging 1% interest in USD. This funding has been awarded, and the NGH2P is now in the project pipeline…

01 Aug

Standard Bank expects profit to increase by 12%

Observer Money

Chamwe Kaira Standard Bank Namibia Holdings Limited expects its profit after tax for the six months ended 30 June 2025 to increase by between 8% and 12% compared to the same period last year. Earnings per share (EPS) and headline earnings per share (HEPS) are projected to rise to between 105 and 109 cents, up from 97 cents in 2024. This projection is based on a trading statement issued in line with the Namibia Stock Exchange Listings Requirements, which obliges companies to inform shareholders when results are likely to differ materially from the previous period. The company is expected to…

01 Aug

Govt to make bond interest payment

Observer Money

Chamwe Kaira The Namibian government will make an interest payment of N$17 million on 1 August 2025 on bond NAM04, listed under ISIN ZAG000138470. The bond carries a coupon rate of 10.51%, according to a notice issued on the Johannesburg Stock Exchange (JSE). “Since the scheduled payment date falls on a weekend or public holiday, the following business day rule will apply if necessary. FirstRand Bank Limited is the debt sponsor for this issuance,” the announcement said. On 3 February 2025, the government made a similar N$17 million payment on the same bond under the same terms. The government has…

01 Aug

Water supply capacity to increase by 2030

Observer Money

Chamwe Kaira The government plans to expand the country's bulk water infrastructure from 1,608 million cubic meters to 2,100 million cubic meters by 2030 to meet growing domestic, agricultural, and industrial needs. The expansion forms part of the sixth National Development Plan (NDP6), which outlines several interventions to improve and diversify water sources. These include building water purification plants, artificial recharge of inland aquifers, and developing pipelines to distribute raw water. “Seawater and brackish water will be desalinated and integrated into the supply system. These efforts will culminate in a resilient bulk water infrastructure network that meets current and future…

01 Aug

Kali appointed to Bank Windhoek board

Observer Money

Capricorn Group Limited, a Namibian financial services group listed on the Namibian Stock Exchange (NSX), has announced a keyboard appointment at its major subsidiary, Bank Windhoek Limited. The board has confirmed the appointment of Daniel Kali as an independent non-executive director, effective 25 July. This appointment follows the group’s established nomination policy and has received full regulatory approval. Kali’s addition to the board is expected to strengthen the company’s governance and oversight capabilities. The board has extended a warm welcome to Kali, expressing confidence in the value of his future contributions. Kali is a long-serving executive of the De Beers…

01 Aug

De Beers sale process making progress

Observer Money

Chamwe Kaira Anglo American chief executive officer Duncan Wanblad says the formal process to sell De Beers is advancing, despite current challenging market conditions. Anglo is the majority shareholder in De Beers. The update is included in the company’s production report for the second quarter ended 30 June. De Beers operates in partnership with the Namibian government through Namdeb Land operations, Debmarine Namibia, and the Namibia Diamond Trading Company. Rough diamond production in the quarter declined by 36% to 4.1 million carats due to a planned response to lower demand. The group reported that trading conditions remained difficult in the…