Windhoek Observer – Page 129 – Windhoek Observer

18 Aug

SADC fund yet to win full ratification

National News

Allexer Namundjembo Only nine Southern African Development Community (SADC) member states have signed an agreement to establish and operationalise the SADC Development Fund, SADC executive secretary Elias Magosi has announced. This means about 44% of the countries have not signed the agreement. Speaking at the opening of the 45th SADC Summit in Antananarivo, Madagascar, Magosi said Angola and Zimbabwe remain the only countries to have deposited their ratification instruments, while Namibia is close to finalising the process. He stressed that the fund is key to reducing dependence on external aid and achieving economic self-sufficiency. “The SADC Development Fund continues to…

18 Aug

Namibia backs family-friendly work

National News

Erasmus Shalihaxwe Namibia has ratified the International Labour Organisation (ILO) convention 156 on workers with family responsibilities. The executive director in the ministry of justice and labour relations, Audrin Mathe, announced this over the weekend. He said Namibia’s permanent representative to the United Nations (UN) and ambassador to Switzerland, Julia Imene-Chanduru, deposited the instruments of ratification in Geneva last week with ILO director general Gilbert Houngbo. The convention aims to eradicate discrimination against workers with family responsibilities and foster a work-life balance. It ensures that men and women aren't disadvantaged at work due to their obligations to children or other…

18 Aug

Uranium safe from US tariffs

Observer Money

Chamwe Kaira Uranium is exempt from new US tariffs because of its strategic importance to the United States, Bank of Namibia (BoN) governor Johannes !Gawaxab has said. Speaking during a monetary policy dialogue in Windhoek, he explained that minimal impact is expected on uranium due to existing contractual obligations. He added that uranium will also benefit from the weaker exchange rate, which will improve revenue and profitability. He noted that no tariffs were previously applied to diamonds, which helped natural diamonds remain competitive against cheaper lab-grown diamonds. “The introduction of a 15% tariff will potentially negatively affect export volumes and…

18 Aug

AfDB-backed rail project picks up pace

Observer Money

Chamwe Kaira The upgrading of the railway line between Kranzberg and Otjiwarongo is gaining momentum, with sites already handed over to the contractor. Equipment for the project is expected to arrive soon, while other works, goods and services are still at documentation or procurement stage, according to Robert Kalomho, a senior official at the ministry of works and transport. The project is funded by the African Development Bank Group (AfDB). Kalomho said all 11 components under the transport infrastructure improvement project phase I, which involved upgrading the Walvis Bay to Kranzberg railway line, have been completed. In October 2023, the…

18 Aug

Letshego-MTC deal introduces avenue for diversification

Observer Money

Letshego has delivered another set of commendable interim results, reinforcing the consistent and stable growth we have observed over the past two years within the Namibian market. The group’s deduction-at-source lending model remains a unique differentiator, and its continued adoption by more Namibian employers underscores the strength of this proposition. That said, we believe it is prudent to question the long-term sustainability of this model, particularly around the potential for regulatory intervention on interest rate caps. The recent collaboration with MTC to launch Taamba Maris introduces an exciting new avenue for diversification. While the near-term earnings impact will be limited,…

18 Aug

The financial impact of climate change in Namibia

Observer Money, Opinions

Veruscka Gertze Namibia is already feeling the true cost effects of climate change. It's no longer theoretical. Unpredictable weather, increasing droughts, and unpredictable seasons are already changing how we farm, build, invest, and make plans for the future. Agriculture, energy, insurance, and infrastructure sectors are especially exposed. In the countryside of the developing world, agriculture provides the main source of income, but when rains do not come or heatwaves hit, harvests fall, livestock perish, and families lose earnings. It doesn't just hurt families; it hurts banks, insurers, and investors alike, as loans are not paid back and claims accumulate. For…

18 Aug

Okahandja FC keen to keep rising striker ‘Diamond’

Sports

Erasmus Shalihaxwe Okahandja Football Club ladies' head coach Richard April has cautioned rising star Tamara Renalda Hangula against moving too early to bigger teams showing interest in her. April made the remarks over the weekend while speaking about preparations for the upcoming 2025/26 Women's Super League season. Hangula (16) is already a regular in the national under-17 and under-20 teams. Known as 'diamond' in the football circles, she has scored six goals for Okahandja FC and has attracted interest from clubs such as Nust Babes, Windhoek City Ladies, Arrows Ladies, and African Stars Queens in Oshakati. April said he wants…

18 Aug

NFA rolls out buses to Botswana for Brave Warriors fans

Featured, Sports

Erasmus Shalihaxwe The Namibia Football Association (NFA), together with the ministry of education, youth, sports, innovation and arts and culture, will provide buses for fans travelling to Francistown, Botswana, to watch the Brave Warriors’ World Cup qualifying matches. The buses will depart from Ondangwa, Rundu, Katima Mulilo, Windhoek, Keetmanshoop, and Gobabis. A return ticket will cost N$200. NFA spokesperson Isack Hamata said the buses will leave Namibia on 4 September in the early morning, with the exact time to be confirmed. “The exact time will be communicated in the coming week. With regard to return dates, provision is being made…

18 Aug

Namibia’s Golden Move: Why the Bank of Namibia’s Gold Strategy Matters

Editorial, Featured, Opinions

When the Governor of the Bank of Namibia, Johannes !Gawaxab, announced that our central bank would begin buying gold from Navachab and B2Gold, it may have sounded like just another technical monetary policy decision. But beneath the surface, this is one of the most consequential financial moves Namibia has made in years. Done right, it can strengthen our financial sovereignty, reduce risks from external shocks, and even open up new opportunities for ordinary Namibians. Done wrong, it could become a costly gamble. Why Gold Matters For centuries, gold has been the ultimate symbol of value. In today’s world, central banks…

15 Aug

Conflict concerns cloud health minister as brother eyes pharma contracts

Main

Renthia Kaimbi A potential conflict of interest is facing health minister Esperance Luvindao after revelations that her brother recently sought details on the ministry’s pharmaceutical procurement plans while representing a registered government vendor. In May, Jonathan Luvindao, managing director of Atlantic Pharmaceutical, emailed the ministry requesting information on its medicine purchasing requirements. The company is owned by his wife, Ebba Uppindi, and has been listed as a vendor with the Central Medical Stores for more than two years, before Luvindao’s appointment as minister in March 2025. Although Atlantic Pharmaceutical has never won a contract with the ministry, Jonathan’s direct approach…