Observer – Page 159 – Windhoek Observer

30 Oct

Close call leaves aircraft seriously damaged

ObserverNational News

Niël Terblanché A twin-engine Cessna 406 belonging to Westair, a Windhoek based aviation company, en route from Eros Airport to the B2Gold mining site north of Otjiwarongo, was involved in an emergency landing on Wednesday. The incident was confirmed by Hafeni Moshixwa, a senior aircraft accident investigator at the Directorate of Aircraft Accident and Incident Investigations. Moshixwa said the light aircraft had two pilots and a senior manager of the mining group onboard when the incident occurred. According to Moshixwa, the pilots declared an emergency when the aircraft’s elevator flaps became inoperable. At this stage, it is suspected that the…

30 Oct

Special courses strengthen military leadership

ObserverNational NewsSpecial courses strengthen military leadership

Niël Terblanché The Namibia Command and Staff College in Okahandja marked a significant milestone as it celebrated the graduation of the 17th Junior Staff Course (JSC). Hilma Nicanor graced the event at the end of last week, the Deputy Minister of Defence and Veterans Affairs, who had the honour of presenting the Military Science Diploma to 23 Namibian Defence Force Officers, including two graduates from the Zambia Defence Force. The Junior Staff Course (JSC) is a flagship program of the college, meticulously designed to cultivate officers with essential leadership, management, and staff officer skills. The comprehensive curriculum encompasses many subjects,…

30 Oct

Helao Nafidi traders struggle due to insufficient trading platforms

ObserverNational News

Hertta-Maria Amutenja The town of Helao Nafidi is currently facing a pressing issue that affects its local traders. The shortage of adequate trading platforms and open markets has compelled many traders to resort to selling their wares along the streets, a practice that is at odds with the town’s regulations. According to the Minister of Industrialisation and Trade Lucia Ipimbu, who spoke at the official opening of the 16th edition of the Helao Nafidi Business Expo 2023 last week, the situation has created numerous challenges for the local business community. Iipumbu acknowledged the struggles faced by traders and expressed the…

30 Oct

The second intake at Swapo School graduates

ObserverNational NewsThe second intake at Swapo School graduates

Stefanus Nashama The Swapo Party School celebrated the graduation of its second intake over the weekend in Windhoek, marking a significant milestone since its establishment. This event followed the first intake graduation, which took place in January 2019. Speaking at the graduation ceremony, Swapo President Hage Geingob stressed the party’s longstanding commitment to education for its cadres dating back to the country’s liberation struggle. He pointed to the importance of education, stating, “With the knowledge that the pen is mightier than the sword, Swapo administered a meticulous and well-coordinated program of education in exile. That is why today, you will…

27 Oct

Diamond production at 1.7m carats

ObserverObserver MoneyDiamond production at 1.7m carats

Chamwe Kaira Namibia has so far this year produced 1.7 million carats of rough diamonds compared to 1.5 million carats during the same period last year. The De Beers Group production report for the third Quarter of 2023 showed that the country showed production year to date at 1,761 000 compared to 1,547 000 during the same period last year, an increase of 14 percent. Debmarine Namibia has produced 1,424 000 carats compared to 1,286 000 carats during the same period last year, an increase of 11 percent. On the other hand, Namdeb (land operations) has produced 337 000 carats…

27 Oct

KPMG lists Namcor, Sonangol as top deal

ObserverObserver MoneyKPMG lists Namcor, Sonangol as top deal

Chamwe Kaira KPMG, the global professional services network, has identified the US$500 million agreement between Namcor and Sonangol E.P as one of the standout deals in Sub-Saharan Africa for the year 2022. According to a report by KPMG titled "Doing Deals in Sub-Saharan Africa: Key Insights from Dealmakers," this transaction secured its place among the top ten deals of the year. In this deal, the National Petroleum Corporation of Namibia and its joint partners, Sequa Petroleum NV, and Petrolog Group, acquired a 10 percent interest in Sonangol E. P’s Block 15/06, a 40% stake in Block 23, and a 35%…

27 Oct

December outlook remains outlook

ObserverObserver Money

The economic outlook for December 2023 remains uncertain, Simonis Storm said this week. “Our expectation is for interest rates to persist at elevated levels, with any potential rate cuts not materialising until the second half of 2024,” the firm said. This week, the Bank of Namibia kept its repo rate unchanged at 7.75 percent and the prime rate at 11.5 percent The South African Reserve Bank (SARB) and Federal Reserve Bank (Fed) recently maintained their current interest rates. Simonis said the decision to keep rates unchanged is primarily rooted in the preservation of the currency peg between the Namibian dollar…

27 Oct

CRAN talking to satellite services investors

ObserverObserver MoneyCRAN talking to satellite services investors

Communications Regulatory Authority of Namibia (CRAN)’s Executive for Communication and Consumer Relations, Katrina Sikeni, talks to Observer Money about SIM card, fixed internet connection, losing data by subscribers and postal services.Observer Money (OM): Does CRAN foresee active SIM cards continuing to decrease in the third quarter?Katrina Sikeni (KS): Kindly note that the Authority foresees active SIM cards to be relatively stable in the third quarter because, mandatory SIM card registration due date is on 31 December 2023, contributing to a sense of equilibrium within the market.Additionally, Mobile Network Operators (MNOs) have innovatively introduced a diverse range of prepaid offerings, enabling…

27 Oct

Bannerman expecting mining licence

ObserverObserver MoneyBannerman expecting mining licence

Chamwe Kaira Uranium prospector, Bannerman Energy Ltd has said it is expecting to be granted a mining licence by the Ministry of Mines and Energy very soon. The company is developing the Etango project in the Erongo region. The licence is expected to be granted in the last half of this year. This is contained in a report for the period ended 30 September. Bannerman said during the quarter, there was a sharp rise in the uranium oxide spot price and a positive flow-on effect into capital markets. “With this backdrop, the Company continued to advance the Front-End Engineering and…

27 Oct

Namdeb spent N$8.6m on E-bus project

ObserverObserver Money

Chamwe Kaira Diamond producer, Namdeb has invested approximately N$8.6 million on Namibia’s first ever battery-electric bus (E-bus) project that recently arrived in Namibia. “Namdeb invested approximately N$8.6 million on this project. This amount includes supporting infrastructure such as the charging stations, training and spares. The cost of a bus is roughly N$3.7 million which is 42% of the total project cost,” said corporate affairs manager, Shangelao Ndadi in response to a query by Observer Money. The company has said the arrival of the bus in Oranjemund aligns to Namdeb’s value of sustainability and the Company’s goal of becoming carbon neutral…