info_e12wt4cs – Page 182

03 Oct

Oryx property portfolio valued at N$4.1 billion

info_e12wt4csObserver MoneyDebenture Trust Deed, Namibian Stock Exchange, TPF International Limited

CHAMWE KAIRA Oryx Properties has stated in its 2024 integrated report that its diverse and growing property portfolio is valued at N$4.167 billion. This includes all primary real estate sectors and continues to expand geographically, strengthening the group’s resilience to economic fluctuations. Moreover, the company said investors enjoy international exposure to the Croatian property sector through our substantial 26% shareholding in TIL. “Our primary listing on the NSX offers investors a transparent view of our performance. To safeguard long-term value for our unitholders, the policy is to pay out a minimum of 75% of total distributable income until 2027, after…

03 Oct

Inflation expected to stabilise at 4.7%

info_e12wt4csObserver MoneyBank of Namibia, Monetary Policy Committee (MPC)

CHAMWE KAIRA Simonis Storm stockbroker and wealth management has projected that inflation will stabilise at approximately 4.7% year on year by the end of this year. Furthermore, Simonis expects an additional 25 basis point rate cut at the December Monetary Policy Committee (MPC) meeting, bringing the year-end repo rate to 7.25%. The central bank is likely to adopt a cautious stance, closely monitoring the effects of this monetary easing before considering further policy adjustments, the firm noted. The current repo rate in Namibia stands at 7.50%, with the prime lending rate at 11.25%. Simonis said that although these rates remain…

03 Oct

Namdeb announces new corporate affairs manager

info_e12wt4csObserver MoneyGrace Luvindao

Namdeb this week announced the appointment of Grace Luvindao as its new corporate affairs manager. Namdeb said Luvindao brings over a decade of experience in communications, public relations and marketing. She holds a degree in media studies: public relations and advertising, from the University of Namibia, a master’s degree in media and international development from the University of East Anglia, and is currently undertaking a Post-Graduate Diploma in Business Administration from the Namibia Business School. In her previous role as group communications and stakeholder engagement manager at Capricorn Group, she was responsible for developing and implementing Capricorn Group’s stakeholder engagement…

03 Oct

Deep Yellow appoints Jim Morgan to head projects

info_e12wt4csObserver MoneyMulga Rock Project, Paladin Energy, Tumas Project in Namibia

CHAMWE KAIRA Deep Yellow Limited has appointed Jim Morgan as head of project delivery, the company announced this week. Morgan is a seasoned mining executive with over 35 years of experience on high-value uranium and resource sector projects. Morgan is well known to the Deep Yellow team, as he was previously executive general manager-project development for Paladin Energy from 2005–2012, during the period when John Borshoff was Paladin CEO. Morgan played a critical role in Paladin’s successful construction of the Langer Heinrich uranium mine in Namibia and the Kayelekera uranium mine in Malawi. Following his time at Paladin, Morgan was…

02 Oct

Amupanda, Swartbooi accuses ECN of ignoring procurement rules in ballot tender

info_e12wt4csMain

Stefanus Nashama The Electoral Commission of Namibia (ECN) faces criticism over claims that it bypassed the public procurement process for the printing of ballot papers for the November 2024 elections. The Affirmative Repositioning movement’s (AR) leader, Job Amupanda and the Landless People's Movement’s (LPM) leader, Bernadus Swartbooi questioned the transparency of the tendering process while at the same time, accusing the ECN of secretly favouring Swapo-affiliated companies. On Tuesday and Wednesday, the Commission met with the members of the Political Party Liaison Committee to provide an update on the procurement process for the printing of ballot papers for the 2024…

02 Oct

Samherji subsidiary rejects Heinaste fishing crew’s wage claims

info_e12wt4csNational NewsArcticNam Fishing, Icelandic fishing company, MV Heinaste

Ester Mbathera The directors of the subsidiaries of the Icelandic fishing company Samherji in Namibia have rejected demands from former crew members of the MV Heinaste for unpaid wages and severance packages. This is according to the latest annual report from Samherji Ltd., the parent company in Iceland. “The directors of the subsidiary are of the opinion that these claims have no basis and consider that a final settlement was made with the affected parties in 2018 and early 2019,” reads the report. However, in 2019, 23 former fishermen, who worked on the Heinaste horse mackerel freezer vessel took Samherji’s…

02 Oct

IPC calls for transparency in November elections

info_e12wt4csNational NewsImmanuel Nashinge

Stefanus Nashama The Independent Patriots for Change (IPC) has urged the Electoral Commission of Namibia (ECN) to ensure complete transparency in the upcoming presidential and national assembly elections. In a statement on Wednesday, IPC spokesperson, Immanuel Nashinge emphasised the need for independent local and international observers to oversee the process, free from conflicts of interest. “We demand that the ECN ensure complete transparency in all electoral preparations and processes. This includes allowing access to independent local and international observers with no conflicts of interest. We call on the Namibian government and Swapo to affirm their commitment to national sovereignty by…

02 Oct

MJA deeply concerned about safety at courts

info_e12wt4csNational News

Niël Terblanché The Magistrates and Judges Association of Namibia (MJA) expressed deep concern over an arson attack on the Gobabis Magistrate Court on 1 October 2024 noting that it exposes a troubling gap in the security of court premises across Namibia. The association successfully concluded its Annual General Meeting (AGM) on 25 September 2024 in Swakopmund, announcing the appointment of a new Executive Committee tasked with advancing the association’s mission. One of the primary concerns raised during the AGM was the critical issue of judicial safety, which has come to the fore after a concerning arson attack at the Gobabis…

02 Oct

Omaruru implements water restrictions due to power outages and pipe burst

info_e12wt4csNational News

Martin Endjala The Omaruru Municipality has implemented a three-day restriction on the use of water due to power outages and a burst supply pipeline. According to the notice seen by the Windhoek Observer, these disruptions have prevented reservoirs from meeting the town's water demand. “The restrictions will be implemented from 2 to 4 October from 09h00 to 17h00. The purpose for this is to allow the reservoirs to be refilled to full capacity,” read the notice. The municipality urged all stakeholders to use water wisely until the reservoirs are refilled to full capacity. The town's chief executive officer, Sindongo Valentinus,…

02 Oct

Agriculture ministry responds to Gam farmers’ pleas

info_e12wt4csNational NewsGam settlement

Hertta-Maria Amutenja Farmers in the Gam settlement in the Otjozondjupa region are grappling with huge challenges in accessing drought relief subsidies, with some forced to travel over 400 kilometres to make bank deposits required for receiving animal feed. This has placed a severe financial strain on the farming community, prompting frustration and calls for change. The Ministry of Agriculture, Water and Land Reform (MAWLR) has acknowledged these concerns. The ministry’s spokesperson, Jona Musheko, said this issue arises from the limited availability of revenue collection points at the ministry's offices near these farming communities. “The ministry acknowledges the challenges that some…