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Youth get access to entrepreneurial starter packs

Youth get access to entrepreneurial starter packs

Niël Terblanché The United States government-funded Reach Namibia project has recently launched the Adolescent and Youth Livelihoods and Entrepreneurship Accelerator (ALIVE) Hub in Rundu, the capital of the Kavango East Region. This initiative aims to equip young Namibians with the entrepreneurial skills necessary to establish sustainable businesses, thereby addressing the high unemployment rates among the youth. In collaboration with the Ministry of Sport, Youth and National Services (MSYNS), regional and local governments, and private sector partners, an additional ALIVE Hub will be established in Nkurenkuru, Kavango West Region. These hubs will provide entrepreneurial starter packs and help youth ventures scale.…
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Ten cent coin under pressure

Ten cent coin under pressure

CHAMWE KAIRA Although several retailers have said there is a shortage of five cent and 10 cent coins in circulation, the Bank of Namibia maintained this week that there is not a shortage of 10 cents. “The bank however discontinued the minting and the issuance of five cents in 2019 which is placing undue pressure on the 10 cent coin denomination. The bank is considering long term strategies to alleviate this pressure,” said Kazembire Zemburuka, Director of Strategic Communications and International Relations at the Bank of Namibia. SBV Namibia, the company which collects banknotes and coins for distribution to shops,…
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Otjikoto to increase renewable consumption

Otjikoto to increase renewable consumption

CHAMWE KAIRA B2Gold Namibia is expecting to increase its consumption of renewable energy at its Otjikoto Mine to 30% to 35% when a 10MW renewable power plant is completed in December this year. The plant is being constructed by Sustainable Power Solutions, an Independent Power Producer and in turn B2Gold will buy all the power from the plant. The plant will cost N$200 million. B2Gold Namibia, Country Manager, John Roos said in an interview that the current solar capacity on the mine is a 6.8MW DC plant that delivers about 5.8MW AC to its power plant that contributes to about…
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MICC Properties valued at N$1bn

MICC Properties valued at N$1bn

CHAMWE KAIRA Vukile Property Fund, which has a 36% stake in MICC Properties in Namibia has said its property assets in MICC Properties Namibia is currently valued at N$1 billion. The company controls 269 Independence, Katutura Shopping Centre, and retail centres in Ondangwa, Oshakati and Oshikango. Vukile said in response to questions by Observer Money that over the past 20 years, the average annual value growth in the portfolio (MICC Properties Namibia) was 7.5% per annum. Commenting on Vukile’s future plans in Namibia, the company said given that Vukile’s remaining interest in the Namibian portfolio is considered to be non-core…
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AR appeals for financial support

The leader of the Affirmative Repositioning movement, Job Amupanda appealed to the Namibian nation for financial contributions to finance the newly registered political party campaign in the run-up to the November elections.He said the funds will be used to mobilise society.Amupanda made it clear that the AR does not receive funds from China or Britain like some other political parties.The AR only relies on little contributions from Good Samaritans and those who believe in the transformation of the political system.Amupanda shared this at a press conference in Windhoek on Thursday. Reporter: Stefanus Nashama
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Rössing given ‘new lease of life’

Rössing given ‘new lease of life’

CHAMWE KAIRA Rössing Uranium Limited Managing Director, Johan Coetzee has said Rössing received a new lease on its operational life with the ‘life of mine’ expansion that was approved in February 2023. He added that this strategic milestone grants the mine another 10 years in operation, moving mine closure from 2026 to 2036. “Key expansion projects have been identified and approved by the board of directors to unlock the extended operating life. These projects include the construction of a 18MW solar plant and some fundamental changes in the operating plant to cope with the changing composition of the ore under…
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MTC announces new non-executive directors

MTC announces new non-executive directors

Mobile Telecommunications Limited (MTC) has appointed Andrew Kanime, Trophimus Hiwilepo and Fabiam George as non-executive directors of MTC with immediate effect. The appointments will be ratified by shareholders at the next annual general meeting of the company. MTC has also announced the appointment of Octivius Kahiya as its new chief commercial officer. With over 20 years’ experience in the telecommunications industry, he has honed his skills through working in culturally diverse and challenging frontier markets. He has worked for top Tier-one global telecommunications companies, including Veon, Etisalat and Airtel, and has in seven countries across three continents, namely Nigeria, South…
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Tourism showing green shoots

Tourism showing green shoots

Namibia's tourism sector has shown remarkable resilience and growth, buoyed by a diverse blend of regional and international visitors, Simonis Storm Securities has said. Simonis said in a report that with a strong emphasis on holiday and leisure travel and a notable interest from older tourists, there are significant opportunities for targeted marketing and infrastructure improvements to enhance the visitor experience and continue this positive trend. The report said given that a significant portion of Namibia's top ten international tourists come from countries subject to new visa requirements, it is crucial for the industry and the Ministry of Tourism to…
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Okorusu to process rare earth elements

Okorusu to process rare earth elements

CHAMWE KAIRA Okorusu Fluorspar Pty Ltd, the holder of the mining licences ML90 and ML179, intends to apply for an amendment to the conditions of its current environmental clearance certificate, documents released this week showed. The company is applying to add a rare earth element (REE) processing plant and the cessation of graphite processing at the mine. The company said the other amendments include cessation of processing of graphite ore at the Okorusu mine site, cessation of graphite ore haulage from Okanjande mine site, the construction and operation of a new REE processing plant upon the site of the current…
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Maize supply a major challenge

Maize supply a major challenge

The Southern African region continues to face climate-related challenges that place its agricultural sector and food supply at risk. The mid-summer drought of 2024 has devastated the regional maize supplies, a staple food crop for the region. So far, the focus has been on the losses farmers are experiencing, but soon, consumer pressures will arise. At the end of February 2024, Zambian President, Hakainde Hichilema, declared a disaster after realising the country had lost over half of its maize harvest because of the drought. Zambia’s maize production in the 2023-24 season is down by over 50% to an estimated harvest…
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