info_e12wt4cs – Page 348

04 Jul

Stampriet Artesian Basin stakeholders divided

info_e12wt4csObserver Money

CHAMWE KAIRA Stampriet Aquifer Uranium Mining Association (SAUMA) has said the recent Stampriet Transboundary Aquifer System, meeting held in Mariental on 17 June was very divided into pros and cons. According SAUMA, Minister of Agriculture, Water and Land Reform, Calle Schlettwein was very concerned about the pollution of the drinking water aquifer by high-grade uranium-bearing solutions. The uranium orebody is in the drinking-water aquifer, according to SAUMA. Headspring Investments (HSI), which holds eight active Exclusive Exploration Licenses (EPLs) and eight active Environmental Clearance Certificates (ECCs) for the EPLs is planning to develop a uranium mine in the area. Responding to…

04 Jul

Uis Tin undergoes restructuring

info_e12wt4csObserver Money

CHAMWE KAIRA Andrada Mining Limited, the technology metals mining company with a portfolio of mining and exploration assets in Namibia has executed a legally binding agreement to restructure Uis Tin Mining Company (UTMC), the operational Namibian entity that holds the company's licences (ML133, ML134 and ML129) to ensure a more efficient corporate structure going forward, subject to certain conditions. The company is seeking to increase its ownership interest in UTMC, from 85% to 100% through the acquisition of the 15% interest currently held by the Small Miners of Uis (SMU). “We believe that this transaction reflects the strong and collaborative…

04 Jul

Nedbank to finance Tumas project

info_e12wt4csObserver Money

CHAMWE KAIRA Deep Yellow has appointed Nedbank Limited as mandated lead arranger and sole book runner to coordinate the project financing for the Tumas Project. Nedbank has a strong track record in uranium project financing and will form a banking syndicate and will oversee the due diligence and documentation process. “Nedbank has an extensive track record in financing mining projects across Africa, including uranium, and previously worked with the current Deep Yellow management team in leading project financings for a uranium project in Namibia and a second African project. It is this strong working relationship and Nedbank’s extensive experience which…

03 Jul

Zambia signs an agreement to amend SADC Treaty

info_e12wt4csAfrica / World, Featured

Moses Magadza Zambia has become the 11th SADC Member State to sign the agreement to amend the SADC Treaty establishing the SADC PF, bringing the region closer to having a SADC Parliament. The signing took place in Luanda, Angola, on Monday, shortly after the official opening of the 55th Plenary Assembly Session of the SADC Parliamentary Forum. The agreement was signed by Zambia's Minister of Justice, Princes Kasune, on behalf of Zambia's President, His Excellency Hakainde Hichilema. Established in 1997 as an institution of the Southern African Development Community (SADC) in accordance with Article 9(2) of the SADC Treaty, the…

03 Jul

75% of teachers not admitted to GIPF

info_e12wt4csLatest

The Government Institutions and Pension Fund (GIPF) has raised concerns about employees of the Ministry of Education, particularly teachers who are not admitted to the fund.According to GIPF general marketing and stakeholder engagement manager, Edwin Tjiramba, they found that a significant number of employees from participating employers are not admitted, despite the requirement for all permanent employees to be admitted to the Fund.He said the most affected employees are those working within the Ministry of Education, accounting for approximately 75% of members not admitted to the Fund or those who experience delays with their admission.Tjiramba stated that the delay or…

03 Jul

New police station will improve safety and security in Swakopmund

info_e12wt4csNational News

Niël Terblanché The Namibian government, with the financial support of Rössing Uranium, has commenced the construction of a new police station in the sprawling DRC informal settlement of Swakopmund. The groundbreaking ceremony, officiated by Dr Albert Kawana, the Minister of Home Affairs, Immigration, Safety, and Security, marks a critical step in enhancing public safety, and security while also improving the well-being of DRC residents. Kawana stressed the project's importance and said that the new police station is not just a building but a symbol of hope, security, and progress for the community. "This police station represents more than just a…

03 Jul

Etunda Green Scheme boosts production

info_e12wt4csNational News

Ester Mbathera The Etunda Green Scheme Irrigation Project has reported continuous production activities since the return of the Green Schemes to the Ministry of Agriculture, Water, and Land Reform (MAWLR) in 2022. The farm manager, Sacky Shilyomunhu, and his team last week started with the final harvest of 180 hectares of maize and are simultaneously planting 210 hectares of wheat. “We are currently busy with the harvesting of maize that we planted in the summer," said Shilyomunhu. He said that out of the 180 hectares planted at the beginning of the year, they have so far harvested 120 hectares. “We…

03 Jul

GRN steps up measures to combat environmental crimes

info_e12wt4csNational News

Niël Terblanché The government convened a stakeholder forum on wildlife protection and relevant law enforcement issues. This initiative comes in response to the increasing concerns highlighted by international financial institutions, which have listed environmental crimes, including wildlife crimes and money laundering, among the top threats in Namibia's national risk assessment. The forum is also partly aimed at preventing Namibia from being grey-listed by the Financial Action Task Force (FATF). Pohamba Shifeta, the Minister of Environment, Forestry, and Tourism, opened the special forum and pointed to Namibia's historical success in wildlife protection post-independence. "Since controlling a surge in poaching in the…

03 Jul

Electricity tariff hike on hold

info_e12wt4csEnergy, Main

Erasmus Shalihaxwe The Electricity Control Board (ECB) has put the implementation of the electricity tariff hike on hold. The electricity tariffs will remain unchanged until 30 June 2025. This was announced by the board's CEO, Robert Kahimise, on Wednesday. “This effectively means that the consumers will pay the same tariffs as per the schedule of approved tariffs for 2023/2024. The ECB Board will allow Licensees to deviate from the approved 2024/2025 Approved Schedule of Tariffs as per Section 27(3) of the Electricity Act,” Kahimise said. The new tariffs were supposed to come into effect on 1 July. Last week, the…

03 Jul

Consumers struggling to pay bills and loans

info_e12wt4csNational News

Martin Endjala Namibian consumers struggle to make ends meet, as the high cost of living continues to affect household finances. Lara Enslin, the chief executive officer at TransUnion Namibia, said on Wednesday that the latest Consumer Pulse Study by TransUnion shows that 49% of Namibian consumers are unable to pay at least one of their current bills and loans in full. Of those consumers, 25% plan to borrow from a friend or family member to help pay some of their current bills and loans. “As a result, many consumers shifted their spending behaviour in the past quarter, including cutting back…