Windhoek Observer – Page 253 – Windhoek Observer

25 Aug

Government seeks N$2 billion from bond market

Observer Money

Chamwe Kaira The Bank of Namibia (BoN) will conduct a bond auction on Wednesday to raise N$2 billion. The issuance includes N$1.5 billion in nominal fixed-rate bonds and N$500 million in inflation-linked instruments. This comes after BoN announced that an additional N$2 billion will be raised through the domestic market because of delays in external sourcing. Overall banking industry liquidity currently stands at N$7.4 billion, with the Namibian position at N$1.67 billion. Kara van den Heever of Simonis Storm Securities said the previous bond auction drew strong interest, with bids of nearly N$1.7 billion against an initial offer of N$487…

25 Aug

Mining Chamber warns rare earth, lithium policies will stifle investment

Observer Money

Chamwe Kaira The Chamber of Mines of Namibia has warned that the government’s requirement to process rare earth elements and lithium locally could deter investment. The chamber said the deposits are often small, and the policy creates uncertainty, limiting their development. It also raised concerns about the requirement for farmland transfer when acquiring a mine or mining license, saying the process is slow and creates unnecessary delays. On the Fraser Institute Survey, Namibia’s ratings improved, with its Investment Attractiveness Index rising from 56 in 2023 to 66 in 2024. The country’s global ranking climbed to 35th out of 82 jurisdictions,…

25 Aug

MTC focuses on innovation amid rising competition

Observer Money

Chamwe Kaira Mobile Telecommunications Company (MTC) says it will continue focusing on customer value and innovation as competition in the mobile market grows. “The Namibian market, particularly the space of data service consumption, is continuing to grow and becoming more attractive,” said Erasmus Nekundi, corporate communications practitioner at MTC. “As an institution that has now existed for 30 years, built from the ashes by the Namibian people, sustained by the Namibian people, working for the Namibian people, and proudly connecting Namibia will continue to be at the forefront of technology and innovation as the market evolves.” His comments follow confirmation…

25 Aug

FirstRand Namibia earnings expected to increase by 15%

Observer Money

Chamwe Kaira FirstRand Namibia Limited expects earnings and headline earnings for the year ended 30 June 2025 to rise by 10% to 15% compared to the previous year. “The main drivers of the increase in headline earnings are growth in customers, increased customer activity and effective cost containment. The group’s audited financial results will be released on or about 11 September,” the Namibian Stock Exchange, listed company said in a trading statement. For the year ended 30 June 2024, the group, which includes FNB Namibia, recorded a net profit after tax of N$1.704 billion, up from N$1.561 billion in the…

25 Aug

Usakos allocates N$8 million for sports

Featured, Sports

Erasmus Shalihaxwe The Usakos Town Council has allocated N$8 million for the upgrading of two sports facilities. The projects form part of the national sport facilities development plan, which aims to ensure that all 14 regions and 121 constituencies have standard facilities for sport development. According to the council, the projects are being carried out in consultation with the ministry of education, innovation, youth, sports, arts and culture. “After an interactive and impactful meeting with the ministry, we are especially proud to announce that the Usakos Sports Field will be upgraded at an estimated cost of N$8 million,” the council…

25 Aug

DAILY OBSERVER | Steering Namibia’s Oil with an Unusual Crew

Editorial, Featured, Opinions

Namibia’s oil and gas sector is standing on the edge of history. For decades, we dreamed of “the big find,” and now that dream is reality. Oil is no longer a rumour off our shores, it’s here, commercially viable, and promising to change the face of our economy forever. But here’s the catch: how we manage this industry from day one will determine whether Namibia becomes a success story or just another African country that struck oil and ended up poorer for it. That’s why leadership matters. The people at the top set the tone, negotiate the deals, and decide…

22 Aug

Katima dissolution forces fresh Swapo candidate list

Main

Renthia Kaimbi Swapo leaders assigned to the Zambezi region will meet in Katima Mulilo this weekend to reset candidate nominations for the local authority elections. The meeting follows the recent dissolution of the Katima Mulilo Town Council by minister of urban and rural development James Sankwasa. The dissolution, announced this week, nullified the participation of former councillors on the party’s established candidate list. Under party rules, sitting councillors who have not been recalled usually receive automatic entry onto the candidate list. “The dissolution breaks the chain of continuity. The council no longer exists in its previous form, so the mechanism…

22 Aug

No case filed at ACC on Nust corruption claims

National News

Allexer Namundjembo The Anti-Corruption Commission (ACC) says it has not received a formal complaint regarding allegations of corruption at the Namibia University of Science and Technology (Nust). This follows claims of corruption, nepotism, and financial mismanagement at the university. A 40-page dossier allegedly addressed to ACC director general Paulus Noa, accuses Nust vice-chancellor Erold Naomab and several senior officials of orchestrating schemes that syphoned millions of dollars from the institution through irregular procurement, abuse of authority, and reckless spending. According to the document, Naomab surrounded himself with allies strategically placed in key positions, including Klemens /Awarab, special adviser; Browny Mutrifa,…

22 Aug

Sankwasa cites land-for-vehicles deal in dissolution of Katima Council

National News

Hertta-Maria Amutenja Urban and rural development minister James Sankwasa has defended his decision to dissolve the Katima Mulilo Town Council, saying councillors failed to carry out their functions and engaged in an unlawful land-for-vehicles transaction. Speaking in Katima Mulilo on Wednesday, Sankwasa said the deal was invalid because land gains value while vehicles lose value. In May, Sankwasa accused councillors of selling land without approval and ordered the return of vehicles acquired in the land-for-vehicles deal. Councillors, including mayor John Ntemwa, denied wrongdoing and accused the minister of tribalism and interference. Last month, more than 1 000 residents protested against…

22 Aug

Theofelus encourages youth to innovate through connectivity

National News

Erasmus Shalihaxwe The minister of information and communication technology Emma Theofelus, has urged the youth of Etayi Constituency in the Omusati region to see network connectivity as a gateway to the world. Speaking at Oikoka village on Thursday during the launch of 25 new network towers by PowerCom, Theofelus told the young people to use connectivity to innovate, learn, create, and engage globally. “The future of Namibia rests in your ability to take the tools and transform them into opportunities,” she said. She stressed that connectivity should also serve farmers and traders. "To every resident of Oikokola, Omusati Region, and…