Windhoek Observer – Page 287 – Windhoek Observer

31 Oct

Namibia helps Famous Brands earn N$218m

Observer Money

CHAMWE KAIRA Famous Brands said SADC revenue increased by 3.8% to N$218 million (2023: N$210 million), with operations in Angola, Botswana, Eswatini, Lesotho, Namibia, Malawi, Mozambique, Zambia, and Zimbabwe. “Our biggest markets, Botswana and Zambia, experienced increases in system-wide sales of 4.5% and 31%, respectively, along with like-for-like sales growth of 7.2% for Botswana,” the company said. Famous Brands has said revenue decreased slightly by 1.3% to N$563 million (2023: N$570 million), the company said in financial results for the six months ended 31 August. Operating profit improved by 5.6% to N$232 million (2023: N$220 million), and operating profit margin…

31 Oct

Paladin on pathway to global uranium producer

Observer Money

CHAMWE KAIRA Paladin Energy says the return of the Langer Heinrich Mine (LHM) to production was a major milestone on Paladin’s pathway to becoming a globally significant independent uranium producer. The LHM Restart Project achieved an outstanding performance in safety, with over 2.5 million hours worked with no serious injuries or reportable environmental incidents. The ongoing operations of the LHM are in the hands of a full-time local workforce of over 460 people, with a combination of employees and locally sourced mining contractors. According to Paladin, mining operations should resume in 2026, ahead of a nameplate production goal of six…

31 Oct

Oceana expects earnings to decrease

Observer MoneyCommercial Cold Storage Logistics Group Limited

CHAMWE KAIRA Oceana Group Limited, which is listed on the Namibia Stock Exchange and Johannesburg Stock Exchange, has said basic earnings per share (EPS) and basic headline earnings per share (HEPS) are not expected to differ by 20% or more from the financial results for the year ended 30 September 2023. The group said it believes it is prudent to provide earnings guidance to shareholders, taking into consideration the non-recurring effect of the prior year profit on disposal of Commercial Cold Storage Logistics Group Limited (CCS) and the group’s strong first half performance. Oceana said the profit on disposal of…

30 Oct

Shiimi proposes budget adjustments to address national emergencies

Main

Allexer Namundjembo Finance Minister Iipumbu Shiimi has proposed expenditure adjustments to address the most pressing emergencies facing the nation. During his mid-term budget review address on Wednesday, Shiimi announced that these measures would be implemented by reallocating additional revenues and funds from projects with low execution rates. Shiimi emphasised that the proposed adjustments in the FY2024/25 Mid-Year Budget Review would help mitigate potential risks and maintain macroeconomic stability while supporting social sectors. “In the recently released World Economic Outlook, the International Monetary Fund (IMF) projects global economic activities to grow by 3.2 percent in both 2024 and 2025, a mild…

30 Oct

NSA accused of hiding unemployment crisis

National News

Ester Mbathera The Namibia Statistics Agency (NSA) is facing increasing scrutiny from economists and politicians after omitting the Labour Force Survey in its latest Census Main Report released on Wednesday. Economist, Roaland Brown took to the X platform, calling for the dismissal of the NSA board and executive for excluding the labour force survey. “The 2023 Census was released today, however the normal section on employment/unemployment was removed (see 2011 report example vs. 2023). After not producing socioeconomic data for six years, the NSA now hides vital information before elections. The board and executive should be held to account and…

30 Oct

Ballot printing an emergency or ECN misstep

National News

Ester Mbathera Political parties preparing for Namibia's National Assembly and Presidential elections in November are still seeking clarity over the Electoral Commission of Namibia's (ECN) decision to use emergency procurement for ballot paper printing. According to the ECN’s annual procurement plan for 2024/25, the bidding process for printing ballot papers should have started on 25 July 2024. However, the commission opted for an emergency process instead after cancelling the initial decision to use Open International Bidding for ballot paper procurement. The ECN chief electoral and referenda officer of the ECN, Peter Shaama, on Wednesday, explained the emergency procurement process after…

30 Oct

Traditional leaders call for cultural neutrality in Miss Namibia’s national costume

National News

Hertta-Maria Amutenja Traditional authorities have expressed discontent with the national costume recently unveiled for Miss Namibia, Prisca Anyolo, for the 73rd Miss Universe Pageant, questioning its representation of the country’s cultural diversity. The costume, made from Odelela fabric, which is traditionally associated with the Aawambo people, has ignited a debate on whether it adequately embodies Namibia’s cultural inclusivity. Maria Katjaita of the Maharero Traditional Authority, however, voiced her disappointment with the choice, arguing that a national costume should strive for cultural neutrality and inclusivity. She remarked on the costume’s ties to a specific cultural group, suggesting it could have incorporated…

30 Oct

Trust in GRN labour policies is fading

National News

Stefanus Nashama Workers are increasingly turning to social justice activists for help with labour-related issues, citing frustration with the policies of the Ministry of Labour, Industrial Relations and Employment Creation. Sakaria Johannes, a political analyst, said the government system has many flaws and is riddled with many loopholes that make resolving labour disputes ineffective. Johannes shared this with the Windhoek Observer this week. “Sometimes, those who are at the top are the cause of labour issues, which make it easy for them to manipulate the system,” he said. Johannes added that many workers are reluctant to report labour problems for…

30 Oct

SADC PF hearing spotlights women’s leadership in climate change

Africa / World

Moses Magadza The Regional Women’s Parliamentary Caucus (RWPC) of the SADC Parliamentary Forum recently held a virtual statutory meeting and public hearing, focusing on enhancing women’s leadership roles in climate change and disaster risk management. The meeting, chaired by Shally Josepha Raymond of Tanzania, also addressed key barriers to women’s political participation and discussed strategies for gender-responsive budgeting within national and regional development plans. Additionally, it addressed barriers to women’s political participation and strategies to strengthen regional cooperation in tackling gender inequality. The public hearing highlighted necessary policy reforms aimed at economically empowering women in rural and informal sectors, ensuring…

30 Oct

Adamastor diamond mining vessel launches new era for offshore mining

Observer MoneyKenzoll Capital, LK Mining

Staff Reporter Namibia’s offshore diamond mining industry has been augmented by the arrival of the Adamastor diamond mining vessel at Lüderitz harbour. Lazarus Jacobs, a representative of LK Mining, in a statement on Wednesday, said the arrival of the vessel in Namibia, marks a new era for Kenzoll Capital and its local partners in the offshore mining sector. “Acquired by Amsterdam-based private equity firm Kenzoll Capital, the vessel’s arrival heralds a transformative chapter in Namibia’s offshore mining capabilities, with operations set to begin in Hottentots Bay,” the statement reads. The Adamastor, equipped with cutting-edge marine mining technology, is designed for…