info_e12wt4cs – Page 559

27 Oct

December outlook remains outlook

info_e12wt4csObserver Money

The economic outlook for December 2023 remains uncertain, Simonis Storm said this week. “Our expectation is for interest rates to persist at elevated levels, with any potential rate cuts not materialising until the second half of 2024,” the firm said. This week, the Bank of Namibia kept its repo rate unchanged at 7.75 percent and the prime rate at 11.5 percent The South African Reserve Bank (SARB) and Federal Reserve Bank (Fed) recently maintained their current interest rates. Simonis said the decision to keep rates unchanged is primarily rooted in the preservation of the currency peg between the Namibian dollar…

27 Oct

CRAN talking to satellite services investors

info_e12wt4csObserver MoneyCRAN talking to satellite services investors

Communications Regulatory Authority of Namibia (CRAN)’s Executive for Communication and Consumer Relations, Katrina Sikeni, talks to Observer Money about SIM card, fixed internet connection, losing data by subscribers and postal services.Observer Money (OM): Does CRAN foresee active SIM cards continuing to decrease in the third quarter?Katrina Sikeni (KS): Kindly note that the Authority foresees active SIM cards to be relatively stable in the third quarter because, mandatory SIM card registration due date is on 31 December 2023, contributing to a sense of equilibrium within the market.Additionally, Mobile Network Operators (MNOs) have innovatively introduced a diverse range of prepaid offerings, enabling…

27 Oct

Bannerman expecting mining licence

info_e12wt4csObserver MoneyBannerman expecting mining licence

Chamwe Kaira Uranium prospector, Bannerman Energy Ltd has said it is expecting to be granted a mining licence by the Ministry of Mines and Energy very soon. The company is developing the Etango project in the Erongo region. The licence is expected to be granted in the last half of this year. This is contained in a report for the period ended 30 September. Bannerman said during the quarter, there was a sharp rise in the uranium oxide spot price and a positive flow-on effect into capital markets. “With this backdrop, the Company continued to advance the Front-End Engineering and…

27 Oct

Namdeb spent N$8.6m on E-bus project

info_e12wt4csObserver Money

Chamwe Kaira Diamond producer, Namdeb has invested approximately N$8.6 million on Namibia’s first ever battery-electric bus (E-bus) project that recently arrived in Namibia. “Namdeb invested approximately N$8.6 million on this project. This amount includes supporting infrastructure such as the charging stations, training and spares. The cost of a bus is roughly N$3.7 million which is 42% of the total project cost,” said corporate affairs manager, Shangelao Ndadi in response to a query by Observer Money. The company has said the arrival of the bus in Oranjemund aligns to Namdeb’s value of sustainability and the Company’s goal of becoming carbon neutral…

27 Oct

Northern regions have 400 000 cattle

info_e12wt4csObserver MoneyNorthern regions have 400 000 cattle

Chamwe Kaira The northern regions of the country have an estimated cattle population of 400 000 cattle; Meat Corporation of Namibia statistics in the 2022/2023 annual report have shown. The statistics further showed that areas south of the Veterinary Cordon Fence have a cattle population of 800 000, giving the country an estimated cattle population of 1.2 million cattle. Meatco states that cattle produced within the southern regions can be exported to international markets, supporting the Namibian Government’s development aims and policies, while maximising returns to the producers, all while building and maintaining credible premium brand status for Namibian beef.…

27 Oct

Exclusive Interview with Turky Tiisa Ndashiiva:Vice Chairperson of Namibia Sports Commission Former chairperson of Tigers Sport Club

info_e12wt4csSportsExclusive Interview with Turky Tiisa Ndashiiva:Vice Chairperson of Namibia Sports Commission Former chairperson of Tigers Sport Club

Name : Turky Tiisa NdashiivaDate of Birth : 9 OctoberPlace of Birth : WindhoekCurrent Position: Vice ChairpersonOrganization : Namibia Sports CommissionPosition : Former ChairpersonClub : Tigers Sport Club You currently sit on the Namibia Sports Commission as a Vice Chairperson, which means you have been involved in sports to get there. How did it all start?Well, I started my sport career at primary school. I went to Namutoni Primary school and started there as a netball player. I then went on to Shifidi Secondary School and AME Private School, where I continued to play. In 1994, I joined African Blizzards…

27 Oct

Katutura residents considering legal action against CoW over debt collection

info_e12wt4csNational News

Hertta-Maria Amutenja In an escalating standoff between Katutura residents and the City of Windhoek (CoW), residents are contemplating taking legal action as they demand immediate resolution to their grievances concerning the city’s engagement with Redforce Debt Management for debt collection.The Katutura Residents Committee, representing the disgruntled residents, which comprises mostly elderly people, has expressed their dissatisfaction with the city’s debt collection approach, which involves contracting a third party to collect debts on behalf of the city.“We are also exploring legal action and have already sought legal advice from senior counsel regarding various legal aspects we can explore,” said Shaun Gariseb,…

27 Oct

Economic growth requires a robust financial system, says Prime Minister

info_e12wt4csNational NewsEconomic growth requires a robust financial system, says Prime Minister

Prime Minister Saara Kuugongelwa-Amadhila highlighted the importance of a robust financial system to support and drive Namibia’s economic growth effectively. She made these remarks during her address at the Namibia Women in Finance and Insurance Summit, held in the capital city this week. Kuugongelwa-Amadhila stressed that the financial sector plays a critical role in facilitating the transformation of the country’s economy. It not only provides financial services to individuals and businesses but also creates employment opportunities. “With a well-positioned financial system, employment opportunities are generated by various financial institutions, including banks, insurance companies, investment houses, and other financial service providers,”…

27 Oct

Convicted prophet Babi returns to court for unpaid rent

info_e12wt4csNational NewsConvicted prophet Babi returns to court for unpaid rent

Hertta-Maria Amutenja Self-proclaimed prophet and founder of House of Joy Ministries, Jackson Babi, who made headlines last year after being sentenced to ten years imprisonment for his involvement in rhino poaching, has once again found himself entangled in a legal battle. This time, it’s not wildlife crimes that have brought him to court but rather a landlord-tenant dispute over unpaid rent. Babi and his wife, Maria Babi, are currently facing legal action for allegedly failing to pay their rent, as revealed in particulars of a claim filed at the Windhoek High Court earlier this year. They are accused of failing…

27 Oct

Erongo Business and Tourism Expo energizes economic prospects

info_e12wt4csNational News

Niël Terblanché The 15th edition of the Erongo Business and Tourism Expo, hosted by the Walvis Bay municipal council, is in full swing, promising to invigorate the local and national economies. Neville Andre, the Governor of the Erongo Region, during his opening address stressed the event’s significance in bringing together Small and Medium Enterprises (SMEs) to showcase their offerings, thereby reinforcing socio-economic development and creating employment opportunities. Positioned as one of Namibia’s economic epicentres, Walvis Bay recognizes the evolving landscape of business and the need for transformative changes in both the tourism and business sectors. This annual event also fosters…