info_e12wt4cs – Page 94

27 Mar

CoW gears up for AUSC Region 5 Youth Games

info_e12wt4csSports

Erasmus Shalihaxwe The City of Windhoek (CoW) is preparing to host the African Union Sports Council (AUSC) Region 5 Youth Games in July 2025, with organisers ensuring that all stadiums and training venues will be ready in time for the event. Ndeulipulua Hamutumwa, Chairperson of the AUSC Region 5 Youth Games Organising Committee, said on Wednesday that Namibia is on track with preparations to welcome more than 2,500 athletes and officials from 10 countries. The games will take place from 4 to 13 July 2025. Participating countries include Angola, Botswana, Eswatini, Lesotho, Malawi, Mozambique, Namibia, South Africa, Zambia, and Zimbabwe.…

27 Mar

GIPF addresses gaps in investment landscape

info_e12wt4csNational News

Niël Terblanché The Government Institutions Pension Fund (GIPF) convened a two-day Private Markets Investment Industry Workshop in Windhoek from 24 to 25 March 2025, aimed at strengthening the country’s unlisted investment landscape by addressing key gaps in capacity and execution. The event brought together participants from legal and audit firms, the Namibia Financial Institutions Supervisory Authority (NAMFISA), fund managers, board members from the GIPF and other pension funds, directors of Special Purpose Vehicles (SPVs), institutional investors, and representatives from the local investor community. Sara Mezui-Engo, the manager of alternative investments at the GIPF, said in a statement on Thursday that…

27 Mar

Like two phoenixes rising from the ashes, president Nandi-Ndaitwah And Prime Minister Ngurare’s new beginning and mantra of “It Will Not Be Business As Usual” and “To Make Namibia The Best Place For One To Live In”

info_e12wt4csOpinions

PAUL T. SHIPALE In one of my articles published online in the Windhoek Observer on Tuesday, 18 March 2025, I attempted to advise President Netumbo Nandi-Ndaitwah to adopt a three-pronged strategy in order to achieve economic transformation. In that article I said the key priorities should be: 1- Restructuring and reducing the Cabinet to enhance operational efficiency and accountability; 2-Prioritizing quality over quantity by selecting competent, results-driven individuals for leadership positions and 3- Eliminating bureaucratic inefficiencies to ensure that decision-making and implementation processes are streamlined. President Netumbo Nandi-Ndaitwah wasted no time in stamping her authority on the country’s Executive branch…

27 Mar

MPs need ideological self-reflection, introspection and re-interrogation!

info_e12wt4csOpinions

Kae Matundu-Tjiparuro As the ancient and recycled reunite and meet the not-so-very-old as well as complete freshmen and women in the National Assembly, Yours Truly Ideologically cannot but muse about this mixed bag the 8th Parliament of the Republic of Namibia is. As well as wondering what the input and output of this eclectic mix will be, for most, a political potpourri can and/or shall be Because ideologically the august house cannot be said to be so august, besides for the ideological grandstanding a few of the newcomers may put up. Other than that, little can be said about the…

27 Mar

GDP rose to N$157.4 billion in Q4

info_e12wt4csObserver Money

CHAMWE KAIRA The country’s gross domestic product rose from N$155 billion to N$157.4 billion in 2024, marking a 3.7% year-on-year increase. The result was slightly above Rand Merchant Bank’s (RMB) forecast of 3.5% for the fourth quarter. RMB, a division of FirstRand Bank Limited, said Namibia’s real GDP growth reached 3.7% by the end of 2024, higher than the 2.9% recorded in the third quarter. The growth was driven by better performance in the secondary sector due to higher manufacturing output and stronger demand for storage. The country’s economy exceeded expectations in 2024, with the Namibia Statistics Agency’s (NSA) annual…

27 Mar

Floods Disrupt Paladin’s Uranium Targets for 2025

info_e12wt4csObserver Money

CHAMWE KAIRA Paladin Energy expects production at its Langer Heinrich mine to improve in the second half of 2025 through blending ore from open-pit mines. However, floods in the Erongo Region have delayed the start of mining and damaged parts of the site. As a result, the company no longer expects to reach its target of six million pounds of uranium production by the end of 2025. “The acceleration of mining was a key initiative in offsetting the underperformance of stockpile ore and achieving nameplate production. The LHM team continues to drive operational improvements and progress in mining. Improved water…

27 Mar

Namibia, Botswana must harmonise border procedures

info_e12wt4csObserver Money

CHAMWE KAIRA The Trans-Kalahari Border Post between Namibia and Botswana must harmonise, standardise procedures, provide adequate and reliable information and come up with structural adjustments to adeduaretly cater for traffic. This is according to a recent study that was commissioned by the Namibia Revenue Agency and the Ministry of Industrialisation and Trade. The study comes at a time when the two countries are planning to develop the Trans-Kalahari Railway project, a 1500-kilometre railway line aimed at linking Botswana’s mineral resources with Namibia’s Atlantic port at Walvis Bay. The Namibian Ports Authority recently stated that the absence of rail connections to…

27 Mar

Legit, Swagga join Pepkor’s growing fashion empire

info_e12wt4csObserver Money

CHAMWE KAIRA Pepkor has signed a transaction agreement with Retailability Proprietary Limited to acquire the Legit, Swagga, Style, and Boardmans businesses. These businesses will be added to Pepkor’s Speciality business unit, which already includes Tekkie Town, Shoe City, Dunns, Refinery, CODE, SPCC, and Ayana. Pepkor Speciality operates 941 stores across South Africa, Botswana, Lesotho, Namibia, and Eswatini. Retailability is a privately owned retail group offering affordable apparel and lifestyle products. The acquired brands operate 462 stores in the same five countries. The Edgars, Edgars Beauty, Red Square, Kelso, and Keedo brands are not part of the deal and will remain…

27 Mar

Rising credit losses threaten FNB earnings

info_e12wt4csObserver Money

CHAMWE KAIRA Simonis Storm Securities said FirstRand Namibia’s earnings growth remains solid, but rising credit impairments and margin pressure are cause for caution. In a recent report, the firm said the second half of the year is likely to be weaker due to higher provisioning costs and a decline in base effects. Despite this, strong capital buffers and diverse revenue streams support the bank’s stability and position it well for a changing economic environment. FirstRand Namibia posted strong interim results, driven by loan book growth, disciplined cost control, and resilient non-interest income. “The economic backdrop remains favourable, with rate cuts…

27 Mar

NBL forecasts 110% increase in operating profit

info_e12wt4csObserver Money

Namibia Breweries Limited disclosed that according to paragraph 3.4 (b) of the Listing requirements of the Namibia Securities Exchange, shareholders were advised that the group’s operating profit for the eighteen months, ended 31 December 2024, is expected to increase by between 110% and 115% compared to the twelve-month comparative financial period. “This increase is driven by strong performance from the new portfolio. Over the eighteen-month period, growth was constrained by higher net financing costs and increased tax expenses, leading to a more moderate increase in headline earnings of between 91% and 96%,” the company said. The company said as a…