Windhoek Observer – Page 802 – Windhoek Observer

29 Jun

Northern hemisphere tourists prepare to travel

Observer Money

With the northern hemisphere summer rush around the corner, travel concerns around delayed flights, surging airfares, and congestion in the airport are not putting travelers off air travel. Preliminary findings from the 2023 SITA Passenger IT Insights released this week revealed that 32% of passengers cited anxiety around flight cancellations when booking their next flight. Nearly two out of 10 passengers surveyed cited concerns around congestion in the airport and pointed to high airfares. This was fueled by past experience, where 56% of respondents said they had experienced delays or cancellations and 48% long airport queues. Yet travelers intend to…

29 Jun

The power of long-term investing amidst challenges

Observer Money

STEPHEN BAARD The average person on the street has had a difficult year as central bankers continued to battle stubbornly high inflation. This has resulted in rising interest rates with no end in sight. Equally, we have had to deal with a weak currency that has provided no relief as oil prices rose as well. Additionally, the world still looms in the shadow of conflict as geopolitics has recently emerged as the top news story, and all of this is set against a backdrop of global macro uncertainty. One might be excused for wanting to hide their money under the…

29 Jun

AerCap announces lease placement of aircraft with Airlink

Observer Money

AerCap Holdings N.V. this week announced lease placements with Airlink, the largest regional airline in Southern Africa, for three used Embraer E195-E1 aircraft. The first aircraft was delivered in March, while the second and third aircraft are scheduled for delivery in July 2023. “We are very pleased to welcome Airlink as a new customer to AerCap with the lease of three E195 aircraft," said Peter Anderson, the Chief Commercial Officer of AerCap. “We wish all the team at Airlink every success and look forward to working with them for many years to come.” “Airlink is on a steady growth path,…

29 Jun

NamPost remains relevant and sustainable

Observer MoneyNamPost remains relevant and sustainable

CHAMWE KAIRA The 2022 NamPost financial results indicate that NamPost remains a relevant and sustainable service provider in the Namibian landscape and continues to play a critical role in social and financial inclusion for all citizens, according to board chairperson, Simeon Amunkete. Amunkete said the group proved its resilience despite a prolonged economic downturn and the Covid 19 pandemic. “These conditions tested NamPost’s business continuity plans, and it is encouraging that it emerged with the ability to remain standing, while planning for further future diversification possibilities,” said Amunkete. He said Namibia’s economy still faces substantial challenges, and 2022 was characterised…

29 Jun

Appian acquires stake in Rosh Pinah zinc mine

Observer Money

CHAMWE KAIRA Appian Capital Advisory LLP, the investment advisor to long-term value-focused private capital funds that invest in mining and mining-related companies, has acquired an 89.96% interest in the producing Rosh Pinah zinc mine, located in the south of the country from Trevali Mining Corporation. Rosh Pinah is an operating underground zinc-lead mine with a 2000 tonnes per day milling operation and Appian plans to restart the Rosh Pinah mine expansion project which will nearly double the mine’s annual ore throughput to 1.3 million tonnes and improve safety and environmental performance. Appian will retain the existing site management team and…

29 Jun

Oryx Properties offering new shares

Observer Money

CHAMWE KAIRA Oryx Properties says both existing and new investors have a new opportunity to invest in one of Namibia’s leading property companies. Oryx is embarking on a growth strategy for the next two years and is in the process of acquiring the Dunes Mall in Walvis Bay. As part of the funding strategy, Oryx has embarked on a renounceable rights issue. This will see current investors in Oryx being allocated letters of allocation, allowing them to purchase additional units in Oryx. Further, this means that new investors will be able to purchase rights to invest in Oryx on the…

29 Jun

B2Gold contributes N$19.5 billion to economy

Observer MoneyB2Gold contributes N$19.5 billion to economy

CHAMWE KAIRA B2Gold Namibia production records show that in the eight-year period since commercial production was declared (from March 2015 up to 31 December 2022), the company contributed N$19.5 billion to the Namibian economy. Since commercial production was achieved in 2015, the company has spent over N$ 12 billion on localprocurement. Of its total supplier spend, approximately 80% relates to spending on Namibian suppliers of goods and services. B2Gold has operating gold mines in Mali, the Philippines, and Namibia, and a portfolio of exploration and development projects in several countries, including Canada, Mali, Finland, Cote d’Ivoire, and Uzbekistan.B2Gold is a…

29 Jun

Savanna aims to raise N$200m

Observer MoneySavanna aims to raise N$200m, Savanna Beef Processors

Chamwe Kaira Savanna Beef Processors, which is in the process of setting up a meat processing plant in the country plans to achieve 100% producers shareholding of the N$200 million issued share capital. “Hence, we are offering producers an additional share capital of N$ 26,5 million shares. The procedures will be announced shortly. This will also strengthen our position with banks and other investors,” thecompany said. With the present N$173,5 million issued share capital from producers, the company is in the process to open the transaction of shares again for shareholders and producers in the near future to hopefully achieve…

29 Jun

Potentially N$13.3 billion lost in tolling deferment

Observer MoneyPotentially N$13.3 billion lost in tolling deferment

CHAMWE KAIRA The Road Fund Administration (RFA)’s feasibility study found that 21 roads can fund N$5.8 billion in capital and maintenance expenditure over five years, possibly generating N$7.5 billion in additional revenue to subsidise roadworks across the entire network. This adds up to N$13.3 billion. The RFA has looked at tolling as an additional revenue stream to maintain the N$101 billion national road network. Empirical research shows that tolled roads are better maintained, resulting in more jobs, economic opportunities and lower vehicle operating costs, according to the RFA. According to additional econometric analysis, tolling would add N$1.7 billion to the…

29 Jun

Kunene region spends N$ 33m on infrastructure development

Featured, Observer MoneyKunene region spends N$ 33m on infrastructure development

Martin Endjala The Kunene Region has spent over N$33 million from its initial allocated N$200 million for the 2022/23 financial year, due to funds that were virement on given projects such as N$175 million towards the construction of the new 412 kilometre-long Swakopmund-Henties Bay-Kamanjab road. Kunene Regional Governor, Marius Sheya said in his State of the Region address yesterday in Opuwo that it is no secret that public infrastructure development stimulates prosperity and promotes economic inclusion through the provision of accessibility, inclusion, and safety. Infrastructure development shapes social and economic outcomes that promote a socially fair and cohesive society, he…