Windhoek Observer – Page 50 – Windhoek Observer

29 Sep

Momentum opens revamped Walvis Bay branch

Observer Money

Staff Writer Momentum Metropolitan Namibia has opened its revamped branch in Walvis Bay. The occasion also marked the company’s 10th anniversary in Walvis Bay. The opening was attended by Walvis Bay mayor Trevino Forbes and Walvis Bay Chamber of Business and Entrepreneurship president Johnny Dauseb. “Today is more than just a branch opening; it is a celebration of 10 years of partnership with the people of Walvis Bay,” said Denille Roostee, marketing executive at Momentum Metropolitan Namibia. “We are proud to reaffirm our purpose: to protect and grow our clients’ financial dreams. With our brands, Metropolitan (Together We Can) and…

29 Sep

Deep Yellow warns of widening uranium supply gap

Observer Money

Chamwe Kaira The demand-supply gap for uranium continues to widen, Deep Yellow has said in its 2025 annual report. Deep Yellow chairman Chris Salisbury noted that 2025 saw a further increase in global demand for uranium and rapid growth in the nuclear ambitions of many countries. “There were also a number of production shortfalls on the mining supply side, indicating the challenges in creating a robust uranium supply regime. Higher prices will be needed to incentivise exploration, mine development, and maintaining mined supply,” Salisbury said. He added that Deep Yellow is well positioned to respond once uranium prices rise. Deep…

29 Sep

Namibia’s rising role in the global uranium market

Observer Money

Chamwe Kaira Namibia is emerging as one of the most important players in the global uranium market as demand for nuclear energy rises, a report by Simonis Storm Securities has found. Expanded uranium production could add between N$5 billion and N$8 billion annually to government revenue by the early 2030s, supporting debt sustainability and funding infrastructure and development. Namibia currently supplies between 10% and 11% of uranium mined globally. Husab, majority-owned by China General Nuclear, produces more than 5 000 tonnes a year, making it one of the largest single uranium mines in the world. Rössing, operating since the 1970s…

29 Sep

Zimbabwe to host headquarters of IATF’s new independent entity

Observer Money

Staff Writer Africa’s premier trade and investment event, the Intra-African Trade Fair (IATF), will now operate as an independent, permanent African institution with its headquarters in Harare, Zimbabwe. The new entity, the Intra-African Trade Fair Company (IATFCO), was unveiled during IATF2025 in Algiers to make the fair sustainable, scalable and aligned to the African Continental Free Trade Area (AfCFTA). The decision followed a rigorous selection process and approval by the IATF Advisory Council. IATF is held every two years and is co-convened by Afreximbank, the African Union Commission and the AfCFTA Secretariat. Zimbabwe was selected as the host country from…

29 Sep

Govt injects N$10m to rescue premiership league

Sports

Allexer Namundjembo The government has announced a N$10 million injection into the Namibian Premiership Football League (NPFL) after Debmarine Namibia confirmed it would not renew its sponsorship. The announcement was made in parliament on Thursday by the deputy minister of sports, Dino Balloti, delivering a ministerial statement on behalf of Minister Sanet Steenkamp. Debmarine has invested N$49 million in the premiership over the past three years, according to Balloti. He added that the company has put more than N$112 million into sport over the last seven years but is no longer in a financial position to continue its support. “This…

26 Sep

‘We don’t need ICC’

Main

Allexer Namundjembo Namibia does not need the International Criminal Court (ICC), political analyst Sackaria Johannes has said in support of a motion for the country to withdraw from the court. Johannes’ comments came after Affirmative Repositioning (AR) leader and member of parliament Job Amupanda tabled a motion in the National Assembly on Tuesday calling for Namibia’s withdrawal from the ICC. “Bearing in mind that, for me, the ICC is a biased institution. If you look at history, most of the people who were prosecuted there and found guilty are Africans. But we have some world leaders who have committed war…

26 Sep

Otjozondjupa governor accused of blocking Okahandja land allocations

National News

Allexer Namundjembo The Otjozondjupa governor, John Khamuseb, has been accused of interfering in Okahandja Municipality’s land allocation activities. The accusation was made by Okahandja deputy mayor Asser Aupindi in a letter to Khamuseb last week. In the letter seen by the Windhoek Observer, Aupindi alleged that Khamuseb personally contacted the municipality’s chief executive officer and instructed him to halt all land allocation activities within the town’s jurisdiction. “Such interference is not only unwarranted but also hampers the efforts to ensure service delivery to the residents,” the letter reads. “Taking into consideration that you were not elected.” The letter stressed that…

26 Sep

Sankwasa defends cost of government-built houses

Uncategorised

Justicia Shipena Urban and Rural Development minister Sankwasa James Sankwasa says government houses built on government-owned land should not be called expensive. He made the remark at the handover of 52 houses in Okakarara on Thursday under the National Housing Enterprise’s (NHE) national housing programme. The programme aims to deliver 10,000 housing units annually for the next five years as part of efforts to formalise informal settlements. “There is therefore no reason for anyone to say houses built by the government, on government land, are not affordable because the land is expensive,” he said. Sankwasa urged local authorities to lower…

26 Sep

Namibia presses UN to tackle land degradation

National News

Justicia Shipena Namibia has called for the implementation of the Namib Declaration on the United Nations (UN) Convention to combat desertification. The call was made by President Netumbo Nandi-Ndaitwah as she delivered her maiden speech at the 80th session of the UN General Assembly in New York on Wednesday. Nandi-Ndaitwah asserted that this is crucial for achieving a world free from land-degradation. The declaration aims to reverse land degradation and to mitigate the impacts of drought. Nandi-Ndaitwah said climate change continues to harm livelihoods and ecosystems. “Climate change is scorching our lands and drying up our rivers. Global instability is…

26 Sep

Non-banking sector now worth N$474 billion

National News

Allexer Namundjembo The chief executive officer of the Namibia Financial Institutions Supervisory Authority (Namfisa), Kenneth Matomola, says favourable market conditions, lower interest rates, and moderate inflation helped push the value of the non-banking financial sector to N$474.1 billion in the 2024/25 financial year. This figure represents growth of 14.3% compared to the previous year’s 4.2% decline. “Our regulated entities continue to demonstrate financial stability and resilience, underscoring the effectiveness of our oversight and operational efficiency initiatives,” Matomola said on Thursday at the launch of the 2025 annual report in Windhoek. The report shows that NAMFISA’s regulatory portfolio has expanded to…