info_e12wt4cs – Page 254

12 Sep

Capricorn delivers strong performance

info_e12wt4csObserver MoneyCapricorn Asset Management, Return on equity

CHAMWE KAIRA Capricorn Group delivered a strong financial performance for the year ended 30 June 2024 with a growth of 17.7% in profit after tax to N$1.74 billion over the N$1.48 billion previously reported in 2023. The group said Return on equity (ROE) increased to 17.9% from the 17.6% reported in the previous financial year. “This can be attributed to excellent results and solid all-round performances across our portfolio of businesses, which includes the banking subsidiaries, Bank Windhoek and Bank Gaborone, as well as Capricorn Asset Management, Entrepo Group, Peo Finance and our associates,” the group said. The group implemented…

12 Sep

Food prices continue to increase

info_e12wt4csObserver MoneyFirst Capital Namibia

CHAMWE KAIRA The average cost of the First Capital Namibia food basket consistently rose from N$2,029.21 in the first quarter of 2022 to N$2,390.88 in the third quarter of 2022, with the third quarter of 2022 having the highest cost and a significant increase of 10.05%. In 2023, the cost fluctuated, reaching its peak at N$2, 302.71 in the second quarter before slightly decreasing and then rising again to N$ 2,380.90 in the third quarter. The percentage change in 2022 showed moderate increases in the first and second quarter, while 2023 experienced more volatility, with a notable decrease of 7.25%…

12 Sep

Females trade most cross borders

info_e12wt4csObserver MoneyInformal Cross Border Trade Survey, Namibian Statistics Agency

CHAMWE KAIRA The age group 27 to 36 was the most active among females in both exports and imports, among cross border informal traders between Namibia and Angola and Zambia, a recent survey has shown. This age group among females accounted for a substantial share of 16.8% in exports and a leading 23.1% in imports. The Informal Cross Border Trade Survey conducted by the Namibian Statistics Agency conducted in November 2023 revealed that women in this age group are the primary drivers of trade among females, engaging heavily in both exporting goods and importing products. Females aged 17-26 are significantly…

12 Sep

Tumas getting ready for financing

info_e12wt4csObserver MoneyDeep Yellow Limited, Mineral Resource Estimate

CHAMWE KAIRA Deep Yellow Limited has announced an updated Mineral Resource Estimate (MRE) for the Tumas 1, 1 East, 2 and 3 Deposits located in the Erongo Region of Namibia. The deposit is held by Deep Yellow through its wholly owned subsidiary Reptile Uranium Namibia (Pty) Ltd. The mineral resource status upgrade is required to enable the definition of sufficient proven mineral reserves for the first six years of operation and to support project financing. The company said the three deposits have mineral resources of 102.1 million pounds, 16.1 million pounds and 118.2 million pounds of uranium oxide. “A reserve…

12 Sep

Nictus projects higher earnings

info_e12wt4csObserver MoneyEarnings Per Share

CHAMWE KAIRA Nictus Holdings Limited has advised shareholders that for the year ended 30 June 2024, the group expects to report Earnings Per Share (EPS) of between 99.54 cents and 114.04 cents. This result will be an increase of between 37.26% and 57.26% compared to the EPS for the year ended 30 June 2023, (Previous Corresponding Period) of 72.52 cents and Headline Earnings Per Share (HEPS) of between 94.42 cents and 108.96 cents, being an increase of between 29.88% and 49.88% compared to the HEPS for the previous corresponding period of 72.70 cents. Nictus said the group has restated the…

12 Sep

Oryx profit expected to be 30% higher

info_e12wt4csObserver MoneyOryx Properties Limited

CHAMWE KAIRA Oryx Properties Limited anticipates profit for the year ended 30 June 2024 and earnings per share to be substantially higher (more than 30%) than the corresponding period, whilst headline earnings and distributable income is expected to be materially higher (between 10% and 30%) than the corresponding period. The company’s premium retail properties include the regional centre Maerual Mall Retail and Gustav Voigts Retail Centre. The company aims to attract and retain quality tenants with a vacancy rate of 5.91% across commercial properties and 11.19% for residential complexes. In a trading statement, Oryx said distribution per linked unit is…

12 Sep

Microfinance can shape financial landscape

info_e12wt4csObserver MoneyLara Enslin, TransUnion Namibia

CHAMWE KAIRA Microfinance credit providers have a critical role to play in shaping the financial landscape of Namibia, Lara Enslin, CEO of TransUnion Namibia has said. She said Namibians are navigating an economic environment that is both challenging and filled with opportunities. Enslin said TransUnion works with lenders and regulators around the world to help increase financial inclusion and benefit individuals and their families, while acting as a catalyst for increased economic growth. The recent Namibian census has revealed that the population has surged to 3.02 million. A significant 71% of the citizens of the country are younger than 35.…

12 Sep

Green hydrogen energy shall not benefit ordinary Namibians ever!

info_e12wt4csOpinionsindustrialisation

Kae Matundu-Tjiparuro IT is not a matter of pessimism but the hard and harsh facts and reality that industrialisation as trumpeted by the current political leadership is nothing but a pipedream that shall never be realised, soonest or ever in Namibia. Going by the experience of many African countries who 60 years or so after independence, are nowhere closer to industrialisation. A typical example being oil rich African nations, like Nigeria in West Africa, and closer to home, Namibia’s northern neighbour of Angola, that is not refining its own oil. Because simply it is not in the interest of world…

12 Sep

Swapo ‘POT’ cooked a generational mix list

info_e12wt4csOpinionsElectoral College, Netumbo clique eyes dominance

Paul Shipale Despite conspicuous rumours and glaring headlines in the daily newspapers yelling ‘Netumbo clique eyes dominance’ and talks of ‘underground machinations to ensure that those who supported the party’s vice-president Netumbo Nandi-Ndaitwah at the 2022 congress dominate the upper half of the party’s parliamentary list’, the Swapo Party leadership has done its homework and listened to the cry of the nation clamouring for help, as some say, “the ‘pot’, which has been cooking and simmering for over 72 hours, burned many of the old guard and delivered a fresh meal of a mixed stew, one Swapo had yearn for…

11 Sep

Aranos mayor faces recall following GBV accusation

info_e12wt4csMainHans Bafrath

Martin Endjala The mayor of Aranos, Hans Bafrath faces a possible recall following a gender-based violence incident. According to reports, Bafrath, a member of the Landless People's Movement (LPM), assaulted his girlfriend last weekend. Johannes Kooper, the chairperson of the town council, confirmed this, saying that given the gravity of the situation, he is currently discussing with the council whether to recall the mayor. The Windhoek Observer understands that this is the second time the mayor assaulted his girlfriend. “We cannot have a party member who continues to be conducting himself in this manner and whose actions are not dealt…