Observer Money

Martin Endjala Mobile Telecommunication Company (MTC) and the Tour and Safari Association of Namibia (TASA) have joined forces to explore a strategic collaboration aimed at bringing innovative solutions to the travel and tourism sector. Due to the constant demand for innovation, the two organizations are working together to harness their resources for an improved user experience and sustainable tourism growth. Elton Katangolo, MTC's Acting Chief Commercial Officer, pointed out the importance of the tourism sector to Namibia’s economy while asserting MTC's commitment to incubate and implement digital service transformation. “Smart partnership is engraved in our makeup, and it excites me…

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…