Windhoek Observer – Page 309 – Windhoek Observer

12 Dec

Orchestrated assault video exposes extortion scheme

National News

Niël Terblanché The Namibian Police (NamPol) has revealed that a video, widely circulated on social media, depicting the assault of an inmate in the holding cells of the Okahandja Police Station, was an elaborate act intended to extort money from the family of one of the detainees. Deputy Commissioner Kauna Shikwambi, head of NamPol's Public Relations Division, described the incident as “an orchestrated act to solicit money,” following a thorough investigation. According to Shikwambi, the video in question showed a young man appearing to be assaulted by fellow detainees in one of the police station holding cells on 4 December.…

12 Dec

Harbours adjust schedules for festive season operations

National News

Niël Terblanché As the festive season approaches, Namibia’s key seaports and terminal facilities announced adjusted working hours to ensure continued service delivery while accommodating public holidays and employee leave schedules. Notifications from Namport and TIN Container Terminal outline plans to minimize disruptions during this busy period. The Namibian Ports Authority (Namport) detailed the working schedules for both the Port of Walvis Bay and the Port of Lüderitz. According to Trevor Ndjadila, Namport’s Manager of Business Development, all administrative departments, general cargo terminals, and Syncrolift operations will be closed on 25 and 26 December 2024, as well as 1 January 2025.…

12 Dec

Seven Namibian match officials make 2025 FIFA international referee list.

Sports

Erasmus Shalihaxwe The Namibia Football Association (NFA) has announced that seven Namibian match officials have made it to the 2025 Federation Internationale de Football Association (FIFA) international referee list. NFA Communications Director Isak Hamata expressed the association’s pride in the referees and assistant referees who will represent Namibia on the global stage in 2025. This milestone enables them to officiate FIFA-accredited matches at the international level, marking a significant step in their careers. “The NFA extends its heartfelt congratulations to these exceptional referees on this remarkable achievement. Their inclusion on the FIFA list marks a proud moment for Namibian football,”…

12 Dec

Festive Season Financial Planning Tips

Featured, Opinions

Mbo Luvindao As the festive season approaches, many people are getting ready to take time off, go on holiday and spend quality time with loved ones. Yet, while the Christmas holidays are meant to bring peace, joy, and goodwill to all, they can also strain one’s finances, especially with added Christmas expenses and the start of a new year just around the corner. When I started my professional career, I had a colleague, whom for the sake of anonymity, we will call John. John was a young professional who, like me, was excited about the holiday season. One year he…

12 Dec

FNB issues N$500m bond

Observer Money

CHAMWE KAIRA RMB Namibia acted as arranger to First National Bank of Namibia Ltd. (FNB Namibia) for the issuance of N$500 million Tier 2 Capital Notes off their NSX-listed Domestic Medium-Term Note (DMTN) Programme. This issuance represents the first Basel III-compliant notes to be placed in the Namibian market, and the successful outcome sets a precedent for future issuances, RMB said. Leading the process end to end, RMB said it provided advice with regards to the establishment of the underlying terms of the notes, the DMTN Programme, the arrangement, as well as the facilitation and listing of the bonds in…

12 Dec

MTC considering options on ﬁbre tripartite

Observer Money

CHAMWE KAIRA MTC is considering the options available, which include a review of the Communications Regulatory Authority of Namibia (CRAN’s) decision on the NamPower, MTC and Telecom that concluded a dark ﬁbre tripartite agreement in 2012. MTC submitted a dispute adjudication request to CRAN, citing exclusivity and non-competitive behaviour. “CRAN has declared certain sections of the Tripartite agreement void and unenforceable, rendering the agreement unenforceable. Should the CRAN decision stand, MTC would be liable for increased rates to continue leasing the dark ﬁbre. The value of this expected increase in rates is not yet determinable,” according to the 2024 Integrated…

12 Dec

Compensations increase spending in third quarter

Observer Money

CHAMWE KAIRA The final consumption expenditure in nominal terms stood at N$59 billion during the third quarter of this year, the Namibia Statistics Agency said in Gross Domestic Product (GDP) figures. Final consumption expenditure is made up of household final consumption expenditure, while government final consumption expenditure is made for collective consumption or for individual consumption in the form of social transfers in kind to households. In real terms it increased by 1,8 % from a growth of 0,6% witnessed in the third quarter of 2023. Private final consumption expenditure in nominal terms increased to N$45,1 billion during the third…

12 Dec

Air passenger traffic up in October

Observer Money

The International Air Transport Association (IATA) released data for October 2024 global passenger demand, which saw the total demand, measured in revenue passenger kilometers (RPK), going up 7,1% compared to October 2023. Total capacity, measured in available seat kilometers (ASK), was up 6,1% year-on-year. The October load factor was 83,9% (+0,8ppt compared to October 2023). International demand rose 9,5% compared to October 2023. Capacity was up 8,6% year-on-year and the load factor rose to 83,5% (+0,6ppt compared to October 2023). Domestic demand rose 3,5% compared to October 2023. Capacity was up 2% year-on-year and the load factor was 84,5% (+1.2ppt…

12 Dec

Shaping the future with synthetic diamonds

Observer Money

Element Six, part of De Beers Group, is establishing a transformational technology solutions business, leveraging synthetic diamonds to unlock new opportunities in high value industries such as quantum technologies, semiconductors and water purification. The De Beers Group has diamond mining operations in Botswana, Canada, Namibia and South Africa. Last month, Element Six, a world-leading synthetic diamond company and part of the De Beers Group, announced an investment in Lightsynq, a new quantum interconnect startup founded by Harvard PhDs and former research leads at the AWS Center for Quantum Networking. This is just one example of how Element Six is shaping…

12 Dec

US, China tensions, a threat to Namibia

Observer Money

CHAMWE KAIRA Heightened trade tensions between the US and China, exacerbated by the Trump presidency, present significant risks to Namibia, whose economy is closely tied to its two largest trading partners, China and South Africa. Namibia's reliance on these economies for trade, investment, and macroeconomic stability creates vulnerabilities to global disruptions. Namibia exports key commodities such as uranium, diamonds, and gold to China, and any slowdown in Chinese export momentum due to US tariffs could dampen demand for these materials. This would likely lead to reduced export revenues and increased commodity price volatility, according to a report by Simonis Storm…