Windhoek Observer – Page 491 – Windhoek Observer

21 Nov

S&P gives SA stable outlook

Observer Money

CHAMWE KAIRA The South African government has noted and welcomed S&P’s decision to revise South Africa’s outlook to positive from stable and affirm the sovereign’s long-term foreign and local currency debt ratings at ‘BB-’ and ‘BB,’ respectively, the government said in a statement on the Johannesburg Stock Exchange. According to S&P, the positive outlook reflects the agency’s view that increased political stability following the May 2024 general elections and impetus for reform could boost private investment and GDP growth. S&P expects that South African GDP growth will increase to 1.4% over 2025–2027 from 1% in 2024 as electricity load-shedding has…

21 Nov

Companies announce executive, board changes

Observer Money

CHAMWE KAIRA Several companies listed on the Namibia Stock Exchange have announced a number of changes to their boards. Bannerman Energy Ltd announced the appointment of experienced mining executive Bruce McFadzean as a non-executive director, with immediate effect. McFadzean is a mining engineer with over 40 years of mining and process experience across a broad range of commodities and geographies. He has had extensive exposure to all levels of operations and corporate leadership throughout his career, including managing the construction, commissioning, and ramp-up of six new mining operations globally. Bannerman’s Managing Director and Chief Executive Officer, Brandon Munro, said: “We…

21 Nov

Sanlam, Ninety One, join forces

Observer Money

CHAMWE KAIRA Sanlam and Ninety One have entered into a binding framework agreement, the companies announced in a stock exchange notice. Under the terms of the agreement, the parties have agreed to establish a long-term relationship whereby Sanlam will appoint Ninety One as its primary active investment manager for single-managed local and global products. Both companies have operations in Namibia. Ninety One will acquire all the issued shares in Sanlam Investment Management Proprietary Limited, an active investment management business wholly owned by Sanlam Investment Holdings Limited, in which the Sanlam Group holds an effective 65.6%. SIM will become a wholly…

21 Nov

NSX to help African stock exchanges

Observer Money

Namibia Securities Exchange (NSX) has announced its initiative to provide Legal Entity Identifiers (LEIs) across Africa on pTools LEILex platform. pTools LEILex platform is an LEI affiliate solution launched by pTools Software, the leading provider of Market Information AI automation solutions for Exchanges. Namibia Securities Exchange is one of Africa’s largest exchanges and as a pTools LEILex partner-affiliate, will provide LEIs across the African continent. This is a significant development and represents a first in terms of a continent-wide agreement. pTools LEIlex platform will enable the Namibia Securities Exchange to extend service and provide LEIs in all 54 African countries.…

21 Nov

Agriculture remains top earner

Observer Money

CHAMWE KAIRA The Ministry of Agriculture, Water and Land Reform has released a report titled 'Strategy for the Transformation of the Agri-Food Sector, 2025/26–2030/31. Agriculture continues to be the primary source of food, employment, and income for the majority of Namibians. It is the biggest employer, responsible for 23% of the labour force, also on account of the labour intensive nature of agriculture. The report said a growing Namibian middle class, along with large-scale rural-to-urban migration and a projected 74% growth of the national population from 2.5 million in 2021 to 4.4 million in 2050, are expected to increase the…

20 Nov

Where’s Amupanda’s proof for N$8 Million spare part claim? – MODVA

Main

Martin Endjala The Ministry of Defence and Veteran Affairs (MODVA) executive director Wilhelmine Shivute has refuted Affirmative Repositioning (AR) leader Job Amupanda’s claims that the ministry spent N$8 million on a single spare part for the NDF's Wer'wolf armoured vehicle. The Wer'wolf MK2 is a Namibian-designed and -built military vehicle that offers protection against small arms fire and landmines. At a media conference on Wednesday, Shivute said that the ministry did not purchase a single spare part but rather over 14 different parts. “It is true that the invoice quantified quantity indicated one. However, one does not denote one spare…

20 Nov

Ongwediva sells plot for N$5 per square meter

National News

Allexer Namundjembo The Ongwediva Town Council has announced the sale of 19 erven, with some costing N$5 per square meter. Last Friday, the council announced in a local newspaper that it is selling 19 immovable properties in the form of plots. For instance, Erf number 1 000, a single residential plot belonging to the late Frieda Nefungo and measuring 421 square meters in Efidi Extension 3, is currently for sale at a cost of only N$2 315.50, which translates to N$5.50 per square meter. The notice further indicated that Erf number 450, a single residential erf in Extension One, measuring…

20 Nov

Public warned against bogus educational institutions

National News

Niël Terblanché The Namibia Qualifications Authority (NQA) called on the media to help raise awareness and protect the public in addressing the growing threat posed by bogus educational institutions. Namibia Qualifications Authority (NQA) Governing Council member Valerie Garises of the council chairperson Dr Romanus Shivoro, emphasised the need for increased public awareness. “Fraudulent institutions compromise the integrity of our education system. By disseminating accurate and timely information, you can equip Namibians with the knowledge to make informed decisions,” she said. She made the call during a media engagement dinner held in Windhoek on Tuesday. During the event, the NQA also…

20 Nov

Havana vendors hoping for open markets post-election

National News

Allexer Namundjembo Street vendors operating at the Havana Four-Way intersection in Windhoek have renewed calls for the construction of open markets, citing decades of trading in unsuitable conditions. The traders, many of whom have been working in the area for years, say they are battling dust and uncertainty about their future as road construction progresses. Hileni Namwandi, a vendor at the Havana Four-Way for three years, expressed frustration over the lack of proper trading facilities in the area. “We are just hoping that we will get open markets in Havana, as there is a huge population, and we have many…

20 Nov

SADC electoral observer mission launched

National News

Niël Terblanché The Southern African Development Community (SADC) officially launched its Electoral Observation Mission (SEOM) for Namibia’s Presidential and National Assembly elections in a week. Anne Semamba Makinda, the head of SEOM and former Speaker of Tanzania’s National Assembly officiated at the launch in Windhoek on Wednesday. Makinda lauded Namibia’s peaceful and tolerant election tradition and set the country as a regional example. The elections on 27 November, will mark the culmination of Namibia’s electoral calendar for the year. Advanced voting for eligible citizens took place on 13 November, both within Namibia and abroad, which is a demonstration of the…