info_e12wt4cs – Page 13

05 Jun

EIF boosts green investment drive

info_e12wt4csNational News

Niël Terblanché As Namibia joined the global commemoration of World Environment Day, the Environmental Investment Fund (EIF) reaffirmed its commitment to advancing environmental protection through strategic financing and community-driven initiatives. The EIF has mobilised more than N$4 billion in environmental and climate funding to support resilience, clean technologies, and biodiversity conservation across the country. In a statement for the occasion, the EIF highlighted its role in introducing environmental levies under the Customs and Excise Act No. 20 of 1998, working with the Ministry of Environment, Forestry, and Tourism. These levies generate about N$90 million annually and are reinvested in sustainability…

05 Jun

Old Mutual sees increased US dollar inflows in Namibia

info_e12wt4csObserver Money

Chamwe Kaira Old Mutual says its Life APE sales were slightly lower in the quarter ending 31 March 2025. The drop was due to weaker guaranteed annuity sales in personal finance, which followed a market-wide decline caused by falling yields. The company also said it did not repeat the large savings sales it recorded in the same period last year under Old Mutual Corporate. These corporate deals tend to be irregular, with long and unpredictable lead times. “This was partially offset by good risk sales across all distribution channels in mass and foundation cluster as well as strong corporate sales…

05 Jun

Osino’s water project poses no threat to Kranzberg Aquifer – EIA

info_e12wt4csObserver Money

Chamwe Kaira SLR Environmental Consulting Namibia, commissioned by Osino Gold Exploration and Mining, has completed an Environmental Impact Assessment (EIA) for groundwater abstraction from the Kranzberg Aquifer near Usakos in the Erongo Region. The assessment found that with recommended mitigation measures, the residual impacts are low to very low. SLR said the mitigation plan follows a hierarchy: avoiding sensitive areas first, then reducing impacts, and finally rehabilitating disturbed sites. The firm considers the EIA and Environmental Management Plan (EMP) robust enough for MAFWLR and MEFT to make informed decisions. Osino is developing the Twin Hills Gold Project about 25 km…

05 Jun

Burger rallies support for Welwitschias

info_e12wt4csFeatured, Sports

Erasmus Shalihaxwe Namibia Rugby Union director Jacques Burger has called on all rugby fans to support the national team, the Welwitschias, as they gear up for a series of international matches. Burger said that next weekend will be packed with action as the team faces Uganda on 14 June in Walvis Bay. They will then play against South Africa’s Airlink Pumas on 21 June at the Hage Geingob Stadium in Windhoek, before hosting Italy on 27 June. “Please come and join us to support the rugby team in the build-up to the game against Uganda in Walvis Bay. Then on…

05 Jun

Rössing plans life of mine extension beyond 2027

info_e12wt4csObserver Money

Chamwe Kaira Rössing Uranium produced 2,600 metric tonnes of uranium oxide in 2024, down from 2,920 metric tonnes in 2023, according to the Sustainability and Performance report. The mine extracted 30,334,678 metric tonnes of material in 2024, compared to 16,683,199 metric tonnes the previous year. Ore milled decreased to 8,486,056 metric tonnes from 9,301,890 metric tonnes in 2023. Revenue fell by 9% due to a 20% drop in sales volume following a month-long major maintenance shutdown, a delayed restart, water-related challenges, and technical issues at the processing plant. Despite these setbacks, Rössing Uranium made a net profit after tax of…

05 Jun

Reserves rose to N$63.6 billion in April

info_e12wt4csObserver Money

Chamwe Kaira The Bank of Namibia’s stock of international reserves rose by 6.6% at the end of April to N$63.6 billion. The increase was mainly driven by Southern African Customs Union (SACU) receipts. This level of reserves covers 4.2 months of imports. When oil exploration and appraisal activities, mostly funded from abroad, are excluded, import cover stands at 5.1 months. Broad money (M2) grew by 11.6% in April, up from 10.1% in March. The growth in M2 came from an increase in domestic claims, which rose by 9.8%, compared to 9.2% the previous month. “The rise in domestic claims growth…

05 Jun

Honoring the Titan, Interrogating the Legacy: Nujoma and the Art of Brinkmanship

info_e12wt4csFeatured, Opinions

PAUL T. SHIPALE (with inputs by Folito Nghitongovali Diawara Gaspar) Windhoek recently witnessed a familiar ritual: the honoring of a giant. The launch of a lavish coffee table and Pictorial book celebrating Founding Father Sam Shafiishuna Nujoma served as a potent reminder of the liberation generation – those figures across our continent who stared into the abyss of colonial power and dared it to blink. Attended by Namibia’s political and business elite, the event pulsed with reverence for the man synonymous with the nation’s birth. Yet, beneath the veneer of celebratory unity, deeper, more unsettling questions stirred about legacy, leadership, and…

05 Jun

Allan Gray’s clients now own 10.34% of Oceana

info_e12wt4csObserver Money

Chamwe Kaira Oceana Group Limited has received formal notice that clients of Allan Gray have increased their stake in the company. The asset manager’s clients now hold 10.34% of Oceana’s total issued ordinary shares. The company shared this update in a statement issued to shareholders. “Shareholders are hereby advised that Oceana has received formal notification that clients of Allan Gray have, in aggregate, acquired an interest in the ordinary shares of the company, such that the total interest in the ordinary shares of the company held by Allan Gray’s clients now amounts to 10.34% of the total issued ordinary shares…

05 Jun

TotalEnergies to drill 40 development wells

info_e12wt4csObserver Money

Chamwe Kaira TotalEnergies EP Namibia B.V. and its joint venture partners Namcor and Qatar Energy plan to drill up to 40 development wells on Block 2913B off Namibia’s southern coast. The wells will include oil producer (OP) wells and gas injection (GI) wells. This information is from the final scoping report of the Environmental and Social Impact Assessment for the Venus Development, prepared for TotalEnergies by SLR Environmental Consulting (Namibia). Block 2913B covers 8,215 km² and lies offshore southern Namibia, about 300 km from Oranjemund, 320 km from Lüderitz, and 700 km from Walvis Bay. Water depths range from 2,600…

05 Jun

Altron HealthTech launches Elixir Live in Namibia

info_e12wt4csObserver Money

Altron HealthTech, a division of the Altron group and a leader in healthcare technology solutions, is expanding its reach in Namibia with the launch of Elixir Live. Elixir Live is a comprehensive, cloud-based healthcare practice management system designed to streamline clinical and operational processes while empowering healthcare practitioners with secure, data-driven tools to improve patient outcomes that will be hosted within the borders of Namibia, making it compliant with Namibian privacy laws and offering excellent data security. “The introduction of Elixir Live into Namibia is both a strategic and geographical move by Altron HealthTech to support the growing demand for…