Windhoek Observer – Page 225 – Windhoek Observer

01 Sep

Haib Copper study to be released this month

Observer Money

Chamwe Kaira Koryx Copper Incorporated has released assay results from seven drill holes, covering 2 986 metres, as part of its phase 2, 3 and 4 drill programme at the Haib Copper Project in southern Namibia. The programme forms part of the company’s 2025 exploration and project development strategy. Heye Daun, Koryx Copper’s President and CEO, said the results confirm the company’s drilling strategy. “We continue to be highly encouraged by the results of our ongoing drill programme. Our strategy of drilling close spaced and deeper holes is paying dividends as we are seeing mineralisation extending down dip and along…

01 Sep

Local currency strength helps reduce fuel cost pressure

Observer Money

Chamwe Kaira The appreciation of the Namibian dollar against the US dollar helped reduce the impact of rising freight costs. From 1 to 25 August, the average exchange rate stood at N$17.70 per US dollar, reflecting a 0.34% appreciation compared to the July average of N$17.76. “This appreciation helped cushion the impact of rising freight costs by slightly lowering the cost of imports in local currency terms, thereby reducing the extent of under-recoveries,” the ministry of industries, mines and energy said. On Friday, the ministry announced that the prices of petrol and both diesel grades will remain unchanged for September. …

01 Sep

Overall index declined by 0.30%

Observer Money

The JSE All Share Index closed at 101,836.00 points for the week of 25 to 29 August, down 0.86% from 102 724.00 points the previous week. Despite the weekly decline, the index has gained 21.10% since December 2024. Namibia’s Overall Index (N098) fell by 0.30% to 1,829.85 points. The Local Index (N099) inched up 0.04% to 754.49 points, marking a 9.14% increase since the end of 2024. Telecommunications (N15) remained unchanged at 282.92 points, while utilities (N65) also stayed flat at 1 107.49 points. Financials (N30) dropped 2.45% to 617.87 points and real estate (N35) declined 2.12% to 2,334.44 points,…

01 Sep

LOCAL AUTHORITIES’ GOVERNANCE & THE SUSPENSION OF KATIMA MULILO TOWN COUNCILLORS

Featured, Opinions

Lazarus Kwedhi In Namibia, state powers are entrusted to administrative bodies and officials, with decisions required to be made in line with the rule of law and every right protected. Within this framework, Hon. Sankwasa, the Minister of Urban and Rural Development, exercised his powers under Section 92 of the Local Authorities Act, 1992 (Act No. 23 of 1992, as amended), by dissolving the Katima Mulilo Town Council and placing its powers under his office. This decision followed the minister’s announcement on Namibia Broadcasting Corporation (NBC) news that the Katima Mulilo Town Council had engaged in a bartering arrangement for…

01 Sep

OBSERVER DAILY | Namibia and the AfCFTA

Editorial, Featured, Opinions

When the vice president Lucia Witbooi, travels to Algiers in September to represent President Netumbo Nandi-Ndaitwah at the Intra-Africa Trade Fair (IATF2025), she carries more than a delegation badge. She carries Namibia’s opportunity to shape its place in a continental market of 1.4 billion people, underpinned by the African Continental Free Trade Area (AfCFTA). The fair, themed “A Gateway to New Opportunities”, is not just a showcase of trade. It is a laboratory for Africa’s economic future. The AfCFTA, established in 2018 and operational since 2021, is the largest free trade agreement since the formation of the World Trade Organisation.…

30 Aug

OBSERVER DAILY | Diplomacy or Trade: Where is the Centre of Gravity?

Editorial, Featured, Opinions

Namibia’s diplomatic service has historically been framed around political solidarity, liberation credentials, and the maintenance of good neighbourly relations. These have been important foundations. But the times have changed. The 21st century demands that diplomacy be primarily economic. Today’s ambassadors should not only attend receptions and negotiate communiqués; they should be Namibia’s chief salespeople in foreign capitals. If the Ministry of International Relations and Trade is serious about trade, then returning diplomats should be evaluated not only on how many bilateral agreements were signed, but on whether they facilitated investment, opened markets for Namibian products, or created opportunities for Namibian…

29 Aug

Deputy sheriffs to block bidders without deposits

Main

Allexer Namundjembo The High Court has introduced a rule that allows deputy sheriffs to stop a person from bidding at a property auction if they do not pay a deposit upfront. This means anyone who wants to bid on property at a sale in execution must first put down a deposit, or they will not be allowed to take part. The rule is aimed at keeping auctions fair and preventing bidders who are not serious. The change is part of new High Court amendments published in a government gazette of 22 August 2025. The rules, which came into effect immediately,…

29 Aug

Windhoek, Swakopmund attracting foreign millionaires

National News

Chamwe Kaira Windhoek and Swakopmund are expected to see a rise in high-net-worth residents over the next decade, alongside Mombasa in Kenya, according to Henley & Partners’ Africa Wealth Report 2025. The report highlighted Namibia’s lack of capital gains tax and estate duty, which makes it especially attractive to wealthy retirees. “Its capital gains exemption places it in an exclusive group alongside Mauritius, the UAE, Singapore, Bermuda, and the Cayman Islands. Namibia also has a well-developed banking system, low population density, and a comparatively high level of safety when compared to most other African countries. With over 40% of its…

29 Aug

Delayed Ndoro hostel finally inaugurated

National News

Allexer Namundjembo The Ndoro Memorial Combined School hostel in Omega 3, Kongola Constituency, Zambezi region, has officially opened after nearly eight years of construction delays. The school serves learners from pre-primary to Grade 11 from Omega 3 and nearby villages in Bwabwata National Park. Since 2016, learners, especially those in Grades 9 and 11, were forced to camp outdoors while preparing for exams because the hostel remained incomplete. The school had no electricity, clean water, or fencing, leaving students exposed to wildlife such as lions and wild dogs. Students repeatedly raised safety concerns, saying, “We will not rest until our…

29 Aug

Govt promises power for all Kavango West houses

National News

Erasmus Shalihaxwe The government has pledged to electrify every household in Kavango West within 14 years. This means by 2039 houses in the region would be connected to the grid. Deputy Prime Minister and Minister of Industries, Mines, and Energy Natangue Ithete made the commitment on Thursday at Nkurenkuru during the commissioning of joint electrification projects in the region. In April, the Ministry of Industries, Mines, and Energy announced plans to electrify more than 400,000 homes by 2040. For the 2025/26 financial year, the government allocated N$281 million to this goal, with N$251 million from the national treasury and N$30…