Observer – Page 131 – Windhoek Observer

12 Dec

Nandi-Ndaitwah confident that Russia holds the key to industrialisation

ObserverNational NewsNamibia is keen to explore extended cooperation with the Russian Federation to finally lay the cornerstone for tangible industrialization.

Niël Terblanché Namibia is keen to explore extended cooperation with the Russian Federation to finally lay the cornerstone for tangible industrialization. Russian Prime Minister Yury Trutnev, who also chairs the Intergovernmental Commission on Trade and Economic Cooperation, recently held talks with Netumbo Nandi-Ndaitwah, Namibia’s Deputy Prime Minister and Minister of International Relations and Cooperation. During these discussions, both leaders reiterated that Russia will play a crucial role in Namibia’s industrialization agenda and various areas of trade, including agriculture, mining, and health. Addressing the gathering, Nandi-Ndaitwah expressed Namibia’s eagerness to enhance cooperation with the Russian Federation across multiple domains. She stressed…

12 Dec

Unregistered SIM cards to be suspended for three months

ObserverMainUnregistered SIM cards to be suspended for three months

Martin Endjala The Communication Regulatory Authority of Namibia (CRAN) has warned citizens whose SIM cards are not registered by 31 December 2023, that their cards will be suspended for three months. According to CRAN’s Chief Executive Officer, Emilia Nghikembua, the SIM card registration conditions mandate users to register their SIM cards with their mobile service provider. Nghikembua stated that after 31 December 2023, unregistered SIM cards will be suspended for three months, and if a customer attempts to use the service during the suspension period, they only receive a warning message. “During the three-month suspension period, the service may be…

08 Dec

ObserverObserver Money

Chamwe Kaira MTC delivered a good financial performance that is in line with the expectation for the financial year. Despite the challenging economic conditions, such as elevated inflation and the weaker local currency against the US dollar, the company adapted with a five percent total income growth compared to 3.7 percent in 2022, the company said in consolidated results for the year ended 30 September 2023. MTC said income growth was driven by the increase in demand for data, growth in prepaid products, resumption of roaming services and continued expansion of enterprise services. “The demand for fixed line services continued…

08 Dec

ANIREP targeting N$1.4 billion investments

ObserverObserver Money

Alpha Namibia Industries Renewable Power Limited (ANIREP) this week announced the results of the rights offer as approved by shareholders on 3 November and closed on 4 December 2023. ANIREP disclosed that a total of N$557,138,096.30 has been received, which is equivalent to a total of 70,523,809 rights offer shares being subscribed for out of the total 71,403,185 rights offer shares on offer. This translates to a subscription rate of 98.77 percent. Managing Director, Iyaloo Nangolo talked to Observer Money about the money that was raised through the offer and the company’s plans going forward. Observer Money (OM): Alpha Namibia…

08 Dec

Exports to Lesotho worth N$52m

ObserverObserver Money

Chamwe Kaira Namibia exported goods worth N$52.6 million to Lesotho during the period 2015 to 2022, while on the demand side, goods amounting to N$50.3 million were sourced from Lesotho. In October, Namibia sourced goods worth N$916 8111 from Lesotho. The export basket to Lesotho comprised solely of ‘Lime, cement, and fabricated construction materials’ whereas the import basket primarily comprised of clothing articles. During October, Namibia exported goods worth N$3.6 billion to African markets, whereas, on the demand side, the country sourced goods from Africa. In October, Namibia’s total exports stood at N$6.8 billion and imports at N$11.3 billion, resulting…

08 Dec

FNB identifying entrepreneurs for Harambeans Lab

ObserverObserver Money

FNB Namibia recently announced a one-year partnership agreement with the Harambe Entrepreneur Alliance, an alliance of African innovators known as Harambeans. This strategic partnership aims to unlock the entrepreneurial potential of Namibia and transform its entrepreneurial landscape. FNB’s SME clients will gain access to the Harambeans Lab, a comprehensive online learning platform that provides insights from Africa’s leading innovators on starting and scaling high-growth ventures across the continent. Observer Money asked Tomas Iindji, FNB Namibia Head of Business banking: SME and Mid touch about the progress made on the programme. (Observer Money (OM): Has FNB identified Namibian Entrepreneurs entrepreneurs for…

08 Dec

New US$300m US Embassy opens

ObserverObserver Money

Chamwe Kaira The ribbon cutting ceremony on one of the biggest construction projects in Windhoek, the new US Embassy will take place this week. The project pumped millions into the Namibian economy. The US Embassy said the project cost US$300 million will have local features like plants, solar, and recycled water. The new embassy compound features solar array that will power 50 percent of the chancery’s needs. Approximately 5000 native and drought-tolerant plants, and trees were replanted on the compound, reducing site irrigation needs. The US mission said the completion of the project has impacted the lives of 2000 Namibians.…

08 Dec

Beef stew cost N$93.03 per kg in Erongo

ObserverObserver Money

Chamwe Kaira Analysis of the average retail prices of selected products for November by the Namibia Statistics Agency revealed that consumers in Zone 3 ((//Kharas, Erongo, Hardap, Omaheke regions) paid the highest price for beef stew per kg at N$93.03 followed by Zone 2 at N$88.39 while consumers in Zone 1 paid the least price of N$87.49. Consumers in Zone 2 paid the highest price of N$14.77 for a loaf of white bread followed by Zone 3 at N$14.07, while Zone 1 paid the least price of N$13.87. At the zonal level for the month of November Zone 1 (Kavango…

08 Dec

Chamber backs new mining procedure

ObserverObserver Money

Chamwe Kaira The Chamber of Mines of Namibia believes that the new licencing procedure for mineral rights and petroleum upstream licences is a positive development that will assist in addressing the backlog of applications. It’s a positive development. We are ok with it if it will assist in addressing the backlog of applications,” said Chamber of Mines of Namibia CEO, Veston Malango. The Ministry of Mines and Energy is introducing a new approach to the application process for the different licenses within its mandate in pursuit of a more efficient and effective service delivery to the public. The Ministry throughout…

08 Dec

International reserves declines to N$51.4 billion

ObserverObserver Money

The Bank of Namibia’s stock of international reserves declined in October. The stock of international reserves declined by 4.4 percent month-month to N$51.4 billion at the end of October, relative to N$53.8 billion in September. “The decline is attributable to higher commercial bank outflows as a result of higher import bills. The foreign reserves translated into 5.3 months of import cover, continuing to remain above the international benchmark of three months and adequate to support the Namibia Dollar and the South African Rand currency peg,” the central bank said. Growth in private sector credit extension (PSCE) rose moderately at the…