Windhoek Observer – Page 228 – Windhoek Observer

16 Jan

Nudo infighting threatens party stability ahead of regional and local authorities elections

National News

Martin Endjala Internal divisions within the National Democratic Unity Organisation (Nudo) are expected to escalate this year as the party prepares for local authority elections scheduled for November. The ongoing factional battles have already delayed key processes, including the party's congress and the selection of a presidential candidate in last year’s presidential elections. The party obtained one seat in the National Assembly. It currently has two seats occupied by the party president, Esther Muinjangue and secretary general, Joseph Kauandenge. Infighting prevented the party from holding its elective congress last year, leading to its postponement to May this year. A faction…

16 Jan

Nandi-Ndaitwah and Shanghala summoned in Red Line case

National News

Hertta-Maria Amutenja The Windhoek High Court has summoned Vice-President and President-elect Netumbo Nandi-Ndaitwah, along with former justice minister Sacky Shanghala, to testify in a constitutional case brought by activist Job Amupanda. The case challenges the constitutionality of the veterinary cordon fence, commonly known as the Red Line. The hearing is set to run from 20 January to 31 January. In the summons dated 16 January, Nandi-Ndaitwah, in her capacity as former minister of international relations, is expected to address the government's claims regarding international agreements that could be affected if the red line is removed. Shanghala, currently in jail awaiting…

16 Jan

Youth leaders advocate for increased TVET funding

National News

Allexer Namundjembo Students and youth leaders are urging the government to prioritise funding for technical and vocational education and training institutions (TVET) to attract more applicants and reduce the stigma associated with vocational training. The Landless People’s Movement (LPM) Youth Command leader, Duminga Ndala, in an interview with the Windhoek Observer on Thursday, said she would like to urge the government, through the education ministry, to encourage students to study at TVETs. She said students need to understand that TVETs are not only for those who did not meet university requirements but are also another form of higher learning, offering…

16 Jan

Namibia’s exports stand at N$12.2 billion

Observer Money

Stefanus Nashama The Namibia Statistics Agency (NSA) has announced that the country's export earnings for November 2024 reached N$12.2 billion, marking a 39.0 percent increase from N$8.8 billion recorded in October of the same year. In contrast, the country’s import bill for the month amounted to N$17.7 billion, a rise of 7.2 percent from N$16.5 billion in the previous month. These figures were released in the Namibia International Merchandise Trade Statistics Bulletin for the month under review, published on Thursday. The trade data reveals an improved trade deficit of N$5.5 billion in November 2024, an improvement from the N$7.7 billion…

16 Jan

B2Gold to spend N$131m on exploration at Otjikoto

Observer Money

CHAMWE KAIRA B2Gold plans to spend a total of US$7 million (N$131 million) for exploration at its Otjikoto mine in 2025. The focus of the exploration programme will be drilling to expand and refine the recently discovered Antelope deposit, located approximately 3 km south of phase 5 of the Otjikoto open pit, with a total of 44 000 meters of drilling planned, the company announced. Gold production at Otjikoto will be weighted towards the first half of 2025 due to the conclusion of open pit mining activities in the third quarter of 2025. For the full year 2025, Otjikoto is…

16 Jan

Global oil prices expected to exceed US$80 per barrel

Observer Money

CHAMWE KAIRA Global oil prices are expected to exceed US$80 per barrel this year. Furthermore, Simonis Storm Securities has said for 2025, it anticipates that Namibia’s headline Consumer Price Index (CPI) will average around 4%, with core inflation stabilising at approximately 4.5%. The firm said the outlook assumes relative stability in global markets and continued monetary easing domestically. However, an expected increase in global oil prices, currently at US$77 per barrel, is projected to exceed US$80 per barrel, driven by heightened geopolitical tensions under the Trump administration. “Such an increase may exert upward pressure on transport costs, with potential spillover…

16 Jan

Chevron fails to find commercial hydrocarbons

Main

CHAMWE KAIRA Namibia’s quest to become an oil producer has suffered another setback. Sintana Energy Inc. has announced that it has been notified by Chevron that while operations reached total depth 25% ahead of plan at its offshore Namibia exploration, the well did not find commercial hydrocarbons. This is the second setback suffered by Namibia in its quest to become an oil producer following the recent announcement by Shell that it will write down around US$400 million over an oil discovery offshore Namibia that it deemed commercially unviable. Shell said the oil and gas resources in offshore block PEL39 in…

16 Jan

Exports by sea reached N$5.8 billion in November

Observer Money

CHAMWE KAIRA During November 2024, goods worth N$5.8 billion, representing 47.6% of total exports, left the country by sea. The basket of exports via sea comprised mainly of uranium and ‘copper and articles of copper. Goods exported via air accounted for 28.9% of total exports and its export basket was mainly made up of precious stones (diamonds) and non-monetary gold, Namibia Statistics Agency trade figures have revealed. Road transportation accounted for 23.5%, with ‘fruits and nuts,’ petroleum oils and fish being the highest-valued commodities transported via the respective mode. In terms of volume, a total of 337 518 tons of…

16 Jan

FNB sees inflation at 4% in December

Observer Money

CHAMWE KAIRA FNB Namibia has projected that inflation will rise to 3.6% this month and reach 4% in December with a 12-month average of 4% for the year. “We anticipate inflation to tick up in January 2025 due to seasonal adjustments made by the Namibia Statistics Agency in key sub-sectors such as rental inflation. We also expect food inflation to remain stubborn, despite more favourable weather conditions recently, until supply increases during the upcoming harvest,” FNB said. The firm continues to believe that the risks to inflation are tilted to the upside. However, FNB expects inflation to remain below 4.0%…

16 Jan

The emotional side of money

Observer Money

HILENI AMADHILA Money is more than just the number in a bank account. It is deeply personal and influenced by experiences, beliefs, and emotions. Whether it’s the celebration of reaching a milestone in our finances or anxiety about debt, or even the excitement in planning for the future, this emotional relationship with money impacts more life choices than one could imagine. To many of us, this relationship started during our childhood. Maybe I grew up in a place where money was scarce and learned to connect it with security and survival. Or maybe you have seen a very carefree approach…