Blog – Page 234 – News Stand

26 Sep

Accessible legal aid is vital for the administration of justice

info_e12wt4csNational News

Niël Terblanché Namibia’s Minister of Justice, Yvonne Dausab, stressed the essential role of legal representation in the justice system during a regional workshop on legal aid services in Windhoek. At the official opening of the workshop on Wednesday, Dausab stated that access to legal representation is not only a constitutional right but a reflection of society's moral values. The event, co-hosted by the Ministry of Justice and the United Nations Office on Drugs and Crime (UNODC), brought together legal experts, policymakers, and civil society representatives from across Southern Africa to discuss challenges in ensuring equal access to justice. Dausab revealed…

26 Sep

Lüderitz secures N$65 000 for greenhouse projects

info_e12wt4csNational NewsDutch Project Quality Consulting Services

Martin Endjala On Thursday, the Lüderitz Town Council secured N$65 000 from the Dutch Project Quality Consulting Services company to continue the greenhouse projects at the Lüderitz Senior Secondary and Angra Pequena Senior Secondary School. In an interview with the Windhoek Observer on Thursday, the mayor, Phillippus Balhao, said the project was started last year by the previous mayor. The project kicked off with funds from the First National Bank (FNB). “I am very excited to see these projects finally going ahead. Thanks to the support we received this morning from a company, we will now carry on the work…

26 Sep

NAMFISA records income of N$279 million for 2024

info_e12wt4csObserver Money

Martin Endjala For the year ended 31 March 2024, the Namibia Financial Institutions Supervisory Authority’s (NAMFISA) total income stood at N$279.5 million while the agency’s total expenditures were N$254.7 million. Other comprehensive income amounted to N$12.8 million, resulting in a total surplus of N$37.7 million, compared with a budgeted deficit of N$16.6 million. Kenneth Matomola, the agency's chief executive officer, announced these figures while he launched its 2024 Annual Report on Thursday in Windhoek. “As of 31 March 2024, the Group’s total assets increased by N$34.4 million (11.3%) to N$339 million. This increase is attributable to an increase of N$25.1…

26 Sep

It is incumbent on youth to bring revolution back on track

info_e12wt4csOpinions

Kae Matundu-Tjiparuro YOURS Truly Ideologically has not been closely observing the happenings on the local political front just and only lately but has been fond, patriotically so been doing over the years . Going back to the pre-revolution era. Till this day. At a loss how to term and define this era. Is it post-revolution, or are we still on the revolutionary journey and what revolution can we be talking about? With elections due in exactly two months today, this question becomes all not only all the more important and relevant but crucial. Especially in view of the fact that…

26 Sep

Choppies revenue reach N$805m

info_e12wt4csFeatured, Observer MoneyChoppies Supermarkets Namibia (Pty) Limited

CHAMWE KAIRA Choppies Supermarkets Namibia (Pty) Limited recorded revenue of Botswana Pula (BWP) 613 million (N$805 million) in the financial year ended 30 June 2024, the company announced. The company is a retailer of fast-moving consumer goods, operating shops around Namibia, Botswana, Zambia and Zimbabwe. Retail sales totaled BWP 612 million, while gross profit totaled BWP 100 million, according to Choppies. In Namibia, the company has assets worth BWP 271 million and liabilities worth BWP 220 million. The company disclosed that Choppies Enterprises Limited has issued guarantees for Choppies Supermarkets Namibia (Pty) Limited valued at BWP 36 million. Choppies Enterprises…

26 Sep

Capricorn bosses benefit from shares

info_e12wt4csObserver MoneyCapricorn Group Limited

CHAMWE KAIRA The Capricorn Group has announced several dealings in securities by several of its directors in a statement issued on the Namibian Stock Exchange (NSX). The announcement marked the culmination of a two-year journey for the directors, as their share awards under the conditional share plan finally vested. According to the NSX notice, Marthinus Johannes Prinsloo, a director of Capricorn Group Limited, exercised his vested shares awarded under the conditional share plan. On 2 September 2022, he had been granted 48 967 shares. Now, with the passing of two years, those shares were ready to be exercised. With the…

26 Sep

‘Laughing and crying eyes’……Osino founder sheds light on selling the company

info_e12wt4csObserver Money

CHAMWE KAIRA Outgoing President and CEO of Osino Resources, Heye Daun has said as a small exploration company with no income, the company was dependent on shareholder funding and equity that came from investors. The company’s flagship is the Twin Hills Gold Project in the Erongo Region. Daun became an entrepreneur in 2010, when he acquired the Otjikoto project. This led to being introduced to Canadian capital markets. He raised money on the Canadian markets and later sold the Otjikoto project to B2Gold of Canada. This proved to Daun that gold mining in Namibia could be successful and contribute to…

26 Sep

Osino created 20 local millionaires

info_e12wt4csObserver MoneyShanjin International of China.

CHAMWE KAIRA Gold mining company, Osino Resources, which had listed on the Namibia Stock Exchange (NSX) in September created about 20 Namibian millionaires. Osino has since delisted on the NSX after it was bought by Shanjin International of China. Osino’s founder, Heye Daun said the company had a lot of Namibian shareholders and that it had raised N$45 million during its listing on the NSX. “We have created a lot of wealthy people, some of them were our own staff members, they took risks, worked hard and made their money,” explained Daun. He said in terms of value addition, company…

26 Sep

Bannerman’s financial remain solid

info_e12wt4csObserver MoneyEtango Mining Licence

CHAMWE KAIRA Bannerman Energy Ltd’s financial position remained solid in the financial year ended 30 June 2024. As of 30 June 2024, its cash balance stood at 24 million Australian dollars (A$), bolstered by the successful raising of A$85 million through a two-tranche placement to institutional and sophisticated investors. The first tranche of A$75.7 million was received in early July, and the second tranche of A$9.3 million was received in mid-August 2024. Executive chairman Brandon Munro said this in the 2024 annual report, which highlighted a year of disciplined execution of its strategy. Munro said Bannerman made significant strides in…

26 Sep

Paratus invested N$204m in infrastructure

info_e12wt4csObserver MoneyCable Landing Station, Equiano subsea cable, Telecommunication Equipment

CHAMWE KAIRA For the year ended 30 June 2024, Paratus Namibia invested N$204.7 million in infrastructure compared to N$450.6 million in 2023, the company said in financial results. The number of new sites and fibre in new areas were limited to focus on the sign-up of new customers on the existing infrastructure. During this financial year, N$111m was invested towards capacity expansion, customer access of the current network and the expansion of the LTE network. During the 2023 and 2024 financial years, N$42.2 million was invested by the company, in conjunction with Paratus Botswana, for the construction of the fibre…