Windhoek Observer – Page 445 – Windhoek Observer

30 May

ANIREP records lower revenue

Observer Money

Alpha Namibia Industries Renewable Power Limited (ANIREP) said in financial results for the year ended 29 February that revenue for the year of N$74 million was 6% lower due to lower revenue caused by the delay in starting the Khan project. The company said the key focus during the period was closing the equity rights issue and starting construction on the 25MWp Khan project. ANIREP said it grew its equity capital base by 260%, successfully closing the rights issue for N$437 million in December 2023. The proceeds are being utilised to increase generation capacity by over 426% from 13MWp Solar…

30 May

Stimulus to pay N$18m to shareholders

Observer Money

Stimulus Investment Limited, directors have resolved that an amount of N$18 million (2023: N$3,5 million) be declared as a final dividend to the preference shareholders, which translates into a dividend of N$4.02 (2023: N$0.76) per preference share based on 4,6 million preference shares in issue. The company said the preference dividend amount represents the total realised cash returns of Stimulus, after adjusting for fair value gains, for the financial year ended 29 February. Stimulus said portfolio of investments in subsidiaries and associates was valued by an independent valuator and the resulting fair value gain for 2024 amounting to N$60.5 million…

30 May

Government to auction, monk, horse mackerel

Observer Money

The government has continued with its objective of auctioning fish to the highest bidders. In a joint announcement, the Ministry of Finance and Public Enterprises and Ministry of Fisheries and Marine Resources said they jointly plan to auction 13 584 metric ton (MT) of horse mackerel and 1000 Metric tons of monk to the highest bidders. The Marine Resources Act makes provision for the state to utilise or harvest marine resources to advance any social-economic, cultural or other governmental objectives in the public interest. The bids will close on 14 June. The tender conditions include that bids must be in…

30 May

PSG confident on business resilience

Observer Money

PSG Financial Services, the financial services group that predominantly services individuals and enterprises in South Africa and Namibia has said despite the difficult macroeconomic environment and negative global sentiment, it remains confident in its overall business resilience. It said in a difficult environment, maximising every opportunity in a disciplined manner is crucial to attaining success. “We value initiatives that help us focus on consistent delivery and enable us to unlock value across the group,” the group said. CEO Francois Gouws CEO said PSG will continue to monitor local and global events and the associated impact on the group’s clients and…

30 May

BREAKING

LatestLesetja Kganyago

The South African Reserve Bank Governor Lesetja Kganyago announced that the country’s repo rate remains unchanged at 8.25%. The Sarb’s benchmark repo rate has been at 8.25% for the last year, with inflation still at the upper end of the bank’s inflation target, albeit cooling from the spiralling levels of 2022 and 2023. For April, inflation slowed to 5.2%.

30 May

RED TIDE

LatestFisheries and Marine Resources

Crowds of people have gathered on the beaches in and around Swakopmund in order to collect masses of dead fish and crustaceans that have washed up on the shore. Scientists of the Ministry of Fisheries and Marine Resources confirmed the phenomenon and said it is the result of an upwelling of an algal bloom or what is more commonly known among locals as a red tide that is causing the death of sea life. According to the scientists, the upwelling of algae was preceded by calm sea conditions brought on by east wind weather conditions of the past ten days…

30 May

SHUUMBWA SUSPENDED

LatestAll People’s Party (APP)

The central coordinating committee of the All People's Party (APP), has suspended Erastus Shuumbwa, its interim president, with immediate effect. The suspension allows the committee time to investigate allegations of contravening the party’s constitution levelled against Shuumbwa. He is also accused of contravening the party’s code of conduct and set of ethics. Daniel Balthezar Djami, the APP’s secretary for information confirmed the suspension on Tuesday. Report by Martin Endjala.

29 May

Angola convenes workshop to review HIV and AIDS law

National News

Moses Magadza The Republic of Angola through its National Assembly on Wednesday convened a workshop to review the country's HIV and AIDS law which was enacted in 2004. The workshop is part of ongoing efforts by the National Assembly of Angola to ensure that laws are fit for purpose and serve all citizens without discrimination. Law no. 8/04, of 1 November, also known as the Law on the Human Immunodeficiency Virus - HIV and Acquired Immunodeficiency Syndrome – AIDS, sought to protect the integrity and health of people living with HIV, control and prevent HIV and AIDS as well as…

29 May

Africa Hospitality Investment Forum set to stimulate economic growth

National News

Niël Terblanché Windhoek is set to become the epicentre of the African hospitality industry as it welcomes more than 300 investors, business leaders, government officials, and expert advisors for the Africa Hospitality Investment Forum (AHIF) 2024. The event, which will be held from 25 to 27 June, marks the first time AHIF is hosted in southern Africa, following Namibia’s successful bid facilitated by the Namibia Investment Promotion and Development Board (NIPDB). The NIPDB, serving as the host partner, has already secured N$1 million in corporate sponsorship, underscoring the significance of this event. Sven Thieme, the executive chairman and managing director…

29 May

Headspring Investment donates kitchen to Leonardville school

National News

Niël Terblanché In a gesture of community support, prospective uranium miner Headspring Investment, a subsidiary of the Uranium One Group, has constructed a state-of-the-art kitchen at Noasanabis Primary School in Leonardville. This facility, developed under Headspring’s corporate social responsibility programme, aims to provide daily meals to more than 600 learners who attend the school every day. Pijoo Nganate, the Omaheke Regional Governor, lauded the project, noting the importance of stakeholders in local development. "Uranium One has done tremendous work in assisting the local school with this much-needed kitchen project," Nganate said. Headspring’s Executive Director, Kirill Egorov-Kirillov, emphasised the company's commitment…