info_e12wt4cs – Page 406

25 Apr

Mining sector records turnover of more than N$51 billion

info_e12wt4csNational News

Martin Endjala According to the Namibian Chamber of Mines (CoM) 2023 annual review report released on Wednesday, the mining industry recorded a turnover of N$51.572 billion in 2023. The 2023 turnover represents a 36 percent increase compared to the N$37.976 billion recorded in 2022. The report highlighted that several factors contributed to this growth, including a weaker exchange rate, higher prices for gold and uranium, and increased production of gold, uranium and diamonds. The report further highlighted that the sector achieved an impressive improvement in overall profitability. In 2023, it recorded a collective profit of N$2.731 billion, a stark contrast…

25 Apr

Ombudsman halts Fishrot accused transfer to public cells

info_e12wt4csMain

Erasmus Shalihaxwe and Ester Mbathera Namibia’s Ombudsman, Basilius Dyakugha has ordered the Namibia Correctional Services (NCS) to put plans to transfer some of the Fishrot accused to other holding cells on hold. This is while his office is conducting investigations into allegations of unfair treatment of the accused persons by senior officials of the NCS. Dyakugha made the request in a letter which has been seen by this publication to NCS Commissioner-General Raphael Hamunyela on Monday. “I humbly request the Commissioner-General to put the transfer on hold and do a proper investigation as well as apply the audi alteram partem…

25 Apr

Local content, beneficiation, inclusivity all flipsides of ideology of capitalism

info_e12wt4csOpinions

The Namibian capitalist economic elite has just emerged from the Namibia Local Content Conference in Lüderitz. Yours Truly Ideologically cannot but muse about what “local content” means. Because typical of Namibia, actually the socio-economic elite, things have been done at their behest and their agenda, and indeed, more than anything else their socio-economic, and indeed political interest. Even the definition let alone interpretation of operative words in the socio-economic sphere has been conceptualised and invented by them. To use them as tools to maintain their stronghold and hegemony over the country all in the name of capitalism and all the…

25 Apr

Just Saying

info_e12wt4csOpinions

Am saying as we gaze into the future of our nation, it's crucial to recognize that the development of sporting infrastructure cannot solely rest on the shoulders of the central government. Am just saying, while government initiatives play a significant role, the responsibility should also extend to local authorities and private entities. All am saying it that we should all consider the vast potential and opportunities that proper sports facilities can unlock for our country. Beyond mere athletic endeavours, investing in sports infrastructure holds the promise of fostering community engagement, promoting healthy lifestyles, and nurturing talent from grassroots levels. Am…

25 Apr

Nedbank Running Club Athletes Set to Aim for Olympic Qualification

info_e12wt4csSports

This weekend, all eyes will be on the Durban International Marathon as athletes from across the continent gather to vie for Olympic qualification. Among them, Namibia's very own Rainhold Tomas and Simon Paulus, representing the Nedbank Running Club, are gearing up for the showdown. Organized by the Phantane Athletics Clubs, the marathon scheduled for Sunday, April 28, 2024, will feature grueling 42-kilometer and 10-kilometer races. This year's edition doubles up as the 2024 Athletics South Africa (ASA) National 42.2km Championships and serves as an official qualifier for events like the Comrades and Two Oceans marathons. Tomas, a seasoned long-distance runner,…

25 Apr

Small Stock Farming: The Imperatives

info_e12wt4csOpinions

Nichlas Mbingeneeko The previous article focused on genetic value creation in small stock farming, i.e. the significance of quality in small stock farming. Genetic value creation relates to the act of producing livestock that have some level of quality and usefulness for the commercial farmer or stud breeder and the entire farming fraternity. Genetic superiority is the pivot on which the success of genetic value creation hinges. Genotype and phenotype spell quality. Quality livestock must be the preoccupation of every farmer and breeder. This article will focus on phenotypical and other key considerations for the farmer or breeder when selecting…

25 Apr

TransNamib’s transformation won’t happen overnight

info_e12wt4csObserver Money

CHAMWE KAIRA New TransNamib Holdings CEO, Desmond van Jaarsveld believes that leading the stateowned enterprise presented a chance for him to contribute to the growth and development of Namibia's logistics sector. “I was particularly drawn to TransNamib's strategic vision and its potential for transformation. My goal is to build upon this vision by shaping and executing strategic initiatives that drive positive change and enhance operational efficiency,” he said in an interview. He added that serving as the CEO of such a key state-owned enterprise reflects his commitment to contributing to national development and infrastructure improvement in Namibia. “My primary motivation…

25 Apr

Potential exists to create 40 000 jobs

info_e12wt4csObserver Money

CHAMWE KAIRA The projects in the investment pipeline by Namibia Investment Promotion Development Board have the potential to generate 40 000 direct and indirect job opportunities in Namibia. The country saw a total of N$2,8 billion invested in 2023. In 2022, the Greenfield FDI Performance Index that assesses the FDI that countries have attracted in proportion to the size of their economy ranked Namibia as number in Africa and 13th globally, respectively. Chairperson and Chief Executive Officer of the Board, Nangula Uaandja said emerging from a challenging period of economic recession, exacerbated by the COVID-19 pandemic, the economy has shown…

25 Apr

Oil must have tangible benefits for all

info_e12wt4csObserver Money

CHAMWE KAIRA Namibia is set to become a major African player in the oil and gas industry and the country is drawing investments interests from around the world as witnessed at the oil and gas conference held in Windhoek this week. For the last six years, the country has hosted the Namibia International Energy Conference but this this year’s conference under the theme ‘Reimagine Resource-Rich Namibia: Turning Possibilities into Prosperity, ‘was special because it came at a time when Namibia has discovered huge oil reserves. Namibia has a potential of 11 billion barrels equivalent of crude oil reserves offshore. The…

25 Apr

ANIREP readies N$5 billion green bond

info_e12wt4csObserver Money

CHAMWE KAIRA The Namibia Stock Exchange listed renewable energy company, Alpha Namibia Industries Renewable Power Limited (ANIREP) is set to launch its green bond on the back of a favorable rating by S&P Global Ratings. The company's generation mix is currently 100% solar and most of the proceeds under the framework will be used to finance renewable energy, with a focus on solar. The company is in the process of registering a N$5 billion Domestic Medium Term Note Programme with the Namibia Stock Exchange The debut issue is expected to be launched in the second quarter of this year, with…