info_e12wt4cs – Page 236

10 Oct

Namibia stole SA’s oil shine

info_e12wt4csMain

CHAMWE KAIRA South African Minister of Mineral Resources and Energy, Gwede Mantashe, has accused foreign funded groups of blocking development in South Africa and hiding behind protecting the environment. “Shell was harassed out of the seismic survey in the East Coast, and they left. They went to Namibia made huge discoveries of oil next door, and there was no demonstration there. That discovery is generating an income for Namibia. We can't touch our oil and gas,” he said. He was speaking at the ‘Investing in African Energy’ conference held in Cape Town. Namibia has become an oil exploration hotspot after…

10 Oct

Maize imports stood at 5 700 tonnes in September

info_e12wt4csObserver Money

CHAMWE KAIRA While South Africa’s maize production is down 22% from the last season because of the tough mid-summer drought to an expected harvest of 12,8 million metric tonnes, South Africa has continued to export maize to the Southern African region. The anticipated harvest and significant carryover stock from the previous season, according to Wandile Sihlobo, the chief economist of the Agricultural Business Chamber of South Africa, have given South Africa confidence in its maize supplies. Sihlobo said in the week of September 27, South Africa exported 38 000 tonnes of maize. Zimbabwe received 54% of this volume, Botswana received…

10 Oct

The digital landscape is ever evolving

info_e12wt4csObserver MoneyE-commerce

EMILIA EINO Namibia is experiencing is the rise of E-commerce. Over the past few years, E-commerce has become an integral part of our lives, providing us with a plethora of benefits. This article explores the largely unexplored general benefits of E-commerce in Namibia, which are set to redefine our nation's economic and consumer experiences and future expectations. One of the most significant advantages of E-commerce in Namibia is the accessibility it is likely to offers to citizens accessibility. Whether you reside in the busy city of Windhoek, the peaceful landscapes of the Kunene Region, or the charming towns of the…

10 Oct

Diamond prices decline in September

info_e12wt4csObserver MoneyJewellery & Gem World show, RapNet Diamond Index

CHAMWE KAIRA Diamond prices fell in September as the market continued to suffer from an oversupply, Rapaport Group said this week. Indian manufacturers reduced rough-buying and polished production to rebalance supply and demand. Polished inventories began to decline, but it will take a few weeks for them to fall to healthy levels. Shortages of in-demand items are likely. The RapNet Diamond Index dropped 4% for 0.30-carat stones, 4.2% for 0.50 carats, and 2.5% for 3 carats. Lower-quality stones saw a gentler decline, with prices of round, 1-carat, D to H, SI diamonds slipping 3.5% in September. Prices of fancy shapes…

10 Oct

How can the government secure private land when it can’t even manage its own?

info_e12wt4csOpinions

Kae Matundu-Tjiparuro Simply uncommitted, unwilling, incompetent, un- and non-ideological, if not totally anti-ideological and a-ideological. How else could one describe and define the inability of the current Swapo of Namibia government, which, despite being a government of the country, appears to be merely posturing, to facilitate and release land to the town of Usakos for necessary economic development? Land which is being held back wilfully and deliberately, with such withholding being an economic sabotage in effect. Not only that, but the town is essentially holding the much-needed development at ransom. Transnamib is retaining the land needed for a development park…

10 Oct

Only a developmental state can bring happiness to Namibia

info_e12wt4csOpinionsCommon Monetary Area

Sem B.David Imbodi In my recent studies, I thoroughly uncovered that the economy of Namibia is under threats of inflation and downfall due to a lot of public debt, inland revenue circulation, and our dependency on other states. It is really disappointing that our headlines in newspapers and reports speak the opposite of the based reality. If you keep taping or fetching water from the neighbor's house, you will always do that on good terms. The day good terms are withdrawn, thirst and hunger will strike your house. We are so dependent, even on little things, and have no means…

10 Oct

Petrol prices to help ease inflation

info_e12wt4csObserver Money

Looking ahead, Namibia's inflation is expected to continue easing, supported primarily by the Ministry of Mines and Energy’s recent decision to reduce fuel prices for October 2024. Petrol prices have been cut by N$1 per litre, bringing the price down to N$20.25 per litre, while diesel 50ppm and diesel 10ppm now cost N$19.72 and N$19.82 per litre, respectively. This reduction should alleviate inflationary pressures, especially in the transport sector, which has been a key driver of inflation over the past few months. The annual inflation rate for September stood at 3.4%, marking the lowest level since August 2021. This represents…

10 Oct

Stand-alone off-grid solar solutions needed

info_e12wt4csEnergy, Observer Money

Off-grid solar energy is emerging as a game-changer for Southern Africa's power challenges. Patrick Tonui, Head of Policy and Regional Strategy at GOGLA, is at the forefront of this revolution. In a conversation with Observer Money, he discussed how off-grid solar is helping to close energy gaps in Namibia and South Africa, providing affordable and sustainable options for millions of people. Observer Money (OM): How will off-grid solar help with the power deficit in Southern Africa, including Namibia? Patrick Tonui (PT): Off-grid solar solutions can play a key role not just as the quickest, most efficient way to provide first-time…

10 Oct

Livestock industry battles drought, market challenges & rising theft

info_e12wt4csObserver MoneyJako van Wyk, Livestock Producers Organisation (LPO)

CHAMWE KAIRA Livestock Producers Organisation (LPO) chairman Jako van Wyk has said the past year was marked by challenges, including the current drought. The drought led to President Nangolo Mbumba declaring a state of emergency. According to Van Wyk, the drought was particularly severe because producers had not yet fully rebuilt their herds or recovered economically from the 2019 drought, and large parts of the country's pastures were already under stress. “The presidential declaration was met with gratitude by producers, as it initiated the necessary protocols to address the drought across all regions, unlocking the budgeted N$825 million for relief…

10 Oct

Basic commodity prices remain high in Khomas

info_e12wt4csObserver MoneyNamibia Statistics Agency

CHAMWE KAIRA The year-on-year inflation rate stood at 2.8% in Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi) during September, compared to 6.1% registered during September 2023. The Namibia Statistics Agency said the slowdown in the annual inflation rate emanated mainly from the slow increases observed in the price levels of ‘alcoholic beverages’ (from 10.9% to 4.6%); ‘food and nonalcoholic beverages’ (from 9.6% to 4.5%); and ‘education’ (from 4.5% to 0.6%). On a monthly basis, the inflation rate declined by 0.2% compared to a 0.3% increase recorded during the preceding month. In Zone 2…