Windhoek Observer – Page 283 – Windhoek Observer

25 Jul

State lottery to power N$100 million revenue boost

Observer Money

Chamwe Kaira The gaming industry generated about N$32 million in revenue during the 2024/25 period, up from N$9.3 million in 2022/23. It is projected to grow by 8.1% by 2030. In 2020/21, the industry recorded around 4,140 jobs. The State Lottery alone is expected to generate over N$100 million in revenue by 2030 and contribute meaningfully to the country's GDP. Growth in mobile gaming, augmented and virtual reality technologies, and the broader ramifications market are seen as key drivers. This is according to the Sixth National Development Plan (NDP6). The plan notes that the gaming industry is evolving and presents…

25 Jul

Tumas project set to begin mining in 2026

Observer Money

Chamwe Kaira Deep Yellow Limited is preparing to begin mining at its Tumas Project in the Erongo Region by late 2026. The company is finalising negotiations with prequalified mining contractors before awarding contracts and starting operations. The update follows progress on early infrastructure works and detailed engineering at Tumas, located within ML237. In April, Deep Yellow delayed its Final Investment Decision (FID), citing uranium prices that did not offer sufficient value to shareholders or justify new greenfield development. The company now says the rise in uranium prices since then has confirmed the logic behind that decision. Despite the FID delay,…

25 Jul

US tariffs represents major shock to automotive sector

Observer Money

The imposition of a 30% tariff by the United States on all South African exports including vehicles represents a major external shock to South Africa’s automotive sector, and by extension, to Namibia’s vehicle market, which is intricately linked to its southern neighbour through trade, supply chains, and dealership networks. Namibia imports the overwhelming majority of its new vehicles from South Africa, leveraging shared logistics routes, harmonised standards under the SACU arrangement, and the ease of rand-based trade due to the currency peg. As such, any disruption to South Africa’s vehicle production and export profile will inevitably ripple through to Namibia,…

24 Jul

Uranium output rises 33% at Langer Heinrich mine

Observer Money

Chamwe Kaira Paladin Energy says its Langer Heinrich Mine produced 993,843 pounds of uranium oxide during the quarter ending 30 June, a 33% increase from the previous quarter. This marks the highest quarterly output since the mine restarted operations, bringing total production for the financial year to 3 million pounds. During the same quarter, the mine sold 710,051 pounds of uranium oxide, with total sales for the year reaching 2,705,693 pounds. Paladin also signed one new uranium sales agreement in the quarter, bringing its total to 13 agreements with tier-one customers in the US, Europe, and Asia. The company achieved…

24 Jul

DBN sues Enercon over N$28.8m in unpaid loans

MainDevelopment Bank of Namibia (DBN)

Justicia Shipena The Development Bank of Namibia (DBN) is suing Enercon Namibia (Pty) Ltd and its associates for N$28.8 million over unpaid loans and breached suretyship agreements. The case involves allegations of breached suretyship agreements and missed repayments dating back more than a decade. DBN alleges that Enercon defaulted on two loans disbursed in 2011 and 2015, which were meant to finance petroleum product acquisitions and property development. The total loan amount exceeded N$25 million. Despite restructuring efforts and extended repayment terms, the bank says Enercon failed to keep up with payments. As of May 2025, DBN records show unpaid…

24 Jul

Fuelgate: ‘Fuel supply deal meant to benefit both parties’- Mulunga

National News

Hertta-Maria Amutenja Former Namcor managing director Immanuel Mulunga testified in the Windhoek Magistrate’s Court on Wednesday that the ten-year fuel supply agreement between Namcor Petroleum Trading and Distribution Pty Ltd and Enercon Namibia was a commercially motivated deal intended to generate profits for both companies. Mulunga, who is seeking bail following his arrest two weeks ago on charges related to corruption and money laundering, said the contract required Namcor Trading to supply Enercon Namibia PTY Ltd with a minimum of 700 000 litres of fuel per month. “The investment would be paid back in four years, and the next six…

24 Jul

Teacher suicides prompt ministry action

National Newsmental health and psychosocial well-being assessment

Erasmus Shalihaxwe The ministry of education, arts, and culture will conduct a mental health and psychosocial well-being assessment among teachers following the recent suicides of three educators in the Ohangwena region. Education minister Sanet Steenkamp on Wednesday confirmed that Titus Nuuyi from Enyana Combined School, Nestory Namhindo of Eenhana Secondary School, and Lukas Kalwenya of Ohehonge Combined School had died by suicide. She said their deaths have left a painful mark on both the education sector and the country. "The alleged reported suicides of these teachers reflect a heart-wrenching and urgent need for comprehensive mental health support and financial literacy…

24 Jul

When the Cost of Living Becomes the Cost of Life.

Editorial, Featured, Opinions

In recent months, Namibia has borne witness to a heartbreaking and deeply troubling trend: a spate of suicides among teachers — the very custodians of our children’s futures. These tragedies are not isolated incidents. They are echoes of a deeper national pain — one rooted in financial strain, psychological isolation, and a silent war waged every day in households across this country. The teaching profession has always demanded sacrifice: long hours, modest salaries, and an unwavering emotional investment in others. But when those giving so much to society find themselves drowning in debt, struggling to feed their families, and confronting…

24 Jul

Namibia must embrace its indigenous languages for unity, identity and justice

Featured, Opinions

Ndaindila Allexer Namundjembo In the heart of every nation lies its language. It shapes how people think, relate to one another, and understand the world around them.In Namibia, a land blessed with rich linguistic and cultural diversity, our languages are fading into silence, not because they are unworthy, but because our systems continue to elevate the colonial tongue above our own.It is time for Namibia to radically reimagine its language policy. We must embrace and institutionalise our indigenous languages, not just as national symbols, but as living and functional communication tools in governance, education and public life.Each region should be…

24 Jul

EIF secures access to N$370m for climate financing

National NewsEIF secures access to N$370m for climate financing

Justicia Shipena Namibia can now access up to US$20 million (approximately N$370 million) in international climate finance through the Environmental Investment Fund (EIF). This follows EIF's accreditation as a National Implementing Entity (NIE) of the Adaptation Fund, which was announced on Wednesday. The decision was made by the Adaptation Fund Board during the intersessional period between its 44th and 45th meetings. It recognises EIF's compliance with the fund's fiduciary standards, environmental and social safeguards, and ability to deliver impactful climate adaptation projects. "This accreditation is a testament to EIF's strong governance and commitment to impactful climate solutions," said EIF chief…