Windhoek Observer – Page 307 – Windhoek Observer

10 Oct

Diamond prices decline in September

Observer 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?

Opinions

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

OpinionsCommon 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 The day good terms are withdrawn, thirst and hunger will strike your house.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

Observer 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

Energy, 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

Observer 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

Observer 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…

10 Oct

Government debt reaches N$123 billion

Observer MoneyFixed-rate bonds, Simonis Storm, Treasury Bill

CHAMWE KAIRA Namibia’s total domestic government debt reached N$123.51 billion by the end of September, reflecting an increase of N$2.04 billion. Fixed-rate bonds (GCs) contributed significantly to this growth, accounting for 63% of the increase through the issuance of N$1.27 billion in GCs. In contrast, inflation-linked bonds contributed a modest 4%, totaling N$80 million. The Namibian government bond yields have experienced significant compressions, particularly within the 10 to 20-year tenors since the start of this year, according to a report by Simonis Storm research and wealth management company. The yield on the GC40 decreased by 139 basis points, while the…

10 Oct

Pioneer African historiography vs patriotic history & memory politics – Review: Footprints of Pohamba – Ondjila Ei Nda Enda – Part 2

Opinions

PAUL SHIPALE As I was looking for an answer to the question in the famous Ndilimani Cultural Troupe’s song ‘Hifikepunye Pohamba Ndhira Dhipi Wahenda’ and the titled of the autobiography “The footprints of Hifikepunye Pohamba – Ondjila Eyi A Enda,” or what I would rather title ‘The Arduous Life Journey Pohamba Traversed’ or ‘The Pathways Pohamba Walked in’ or even ‘Retracing Pohamba’s Footsteps,’ I realised that the answer to the above question is none other than what the son of former President Pohamba, Tulongeni Tutungeni Tudanaukeni Tuhafeni Pohamba, aptly put it that ‘The book shows that the path of integrity…

09 Oct

Investigative journalist not a member of PDM

Main

Hertta-Maria Amutenya Investigative journalist Sonja Smith, who made it to the list of National Assembly candidates of the Popular Democratic Movement (PDM) for 2025-2029, is not a card-carrying member of the party. Smith is one of PDM president McHenry Venaani's ten presidential nominees. The party secretary general, Manuel Ngaringombe, confirmed this to the Windhoek Observer on Wednesday. "Sonja is not a member of the party. She was a journalist and then she got a job through parliament to be the personal assistant to McHenry Venaani as a civil servant. She is on the parliament payroll. Working as a PA, she…