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Kavekotora takes aim at NIPDB’s global missions

Kavekotora takes aim at NIPDB’s global missions

Martin Endjala The Rally for Democracy Party’s (RDP) president and former small business consultant, Mike Kavekotora criticised the Namibia Investment Promotion and Development Board’s (NIPDB) international missions. Kavekotora argued that quantifying the benefits of these trips for Namibian businesses is challenging, particularly when considering the possibility of securing some opportunities through the private sector. “In general terms, however, the Namibian government is known for undertaking these NIPDB trips without mapping out the anticipated outcome,” he argued. The NIPDB this week invited business people to participate in upcoming investment attraction missions to Ghana, Russia, Cuba, Angola, Brazil and China. The trips…
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Unregulated driving schools blamed for road fatalities

Unregulated driving schools blamed for road fatalities

Hertta-Maria Amutenja The Ministry of Works and Transport has been criticised for not implementing regulations for driving schools in Namibia. Issues like unqualified instructors and inadequate training materials have highlighted concerns about the quality and standards of these schools. Road safety activist, Felix Tjozongoro criticised the Ministry's lack of control over driving schools, which he believes has led to an increase in road fatalities. He stated that the ministry has failed to enforce existing regulations, allowing poorly trained drivers on the roads. He referenced the Motor Vehicle Accident (MVA) Fund crash and claims report of 2023, which states that road…
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NamPol and NamRA intercept drug shipments

NamPol and NamRA intercept drug shipments

Niël Terblanché In a series of intelligence-led operations, the Namibian Police and the Namibia Revenue Agency (NamRA) intercepted two drug shipments in Windhoek and near the Ariamsvlei Border Post over the past three days. According to a joint statement, NamPol and NamRA officials, acting on credible intelligence, intercepted a truck driver from South Africa on Newcastle Street in the Northern Industrial Area of Windhoek on Tuesday. A thorough search of the truck revealed 120.62 kilogrammes of cannabis, valued at N$6 million. The incident led to the arrest of three Zimbabwean nationals, ages 54, 45, and 34. They are expected to…
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Telecom activates connection to Equiano subsea cable

Telecom activates connection to Equiano subsea cable

Niël Terblanché Telecom Namibia (TN) took another step in enhancing internet connectivity with the inauguration of its Equiano Cable Station and the activation of its segment of the Equiano subsea cable. The inauguration event in Swakopmund on Wednesday was attended by the Deputy Prime Minister and Minister of Works and Transport, John Mutorwa, who praised TN's commitment to infrastructure development. "This strategic investment in network modernization and the collaborative co-landing of the Equiano Cable alongside Paratus exemplifies a commendable initiative," Mutorwa said. Telecom Namibia's Chief Executive Officer, Stanley Shanapinda, highlighted the operational benefits of the new 100G link via Equiano…
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Reserves increase to N$57.6 billion

Reserves increase to N$57.6 billion

CHAMWE KAIRA The Bank of Namibia’s stock of international reserves increased by 3.7% month-on-month to N$57.6 billion at the end of June. The monthly increase in international reserves was on the back of higher net commercial bank inflows, supported by Customer Foreign Currency (CFC) placements, as well as revaluation gains due to price changes in the market. The foreign reserves translated into 3.8 months of import cover, exceeding the international benchmark of three months. “This level of reserves is considered adequate to support the Namibia Dollar and the South African Rand currency peg. Notably, the import cover excluding imports of…
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Dundee’s railway transportation up by 40 000 tons

Dundee’s railway transportation up by 40 000 tons

CHAMWE KAIRA Dundee Precious Metals Tsumeb has from June last year to June this year transported 198 068 tons of bulk copper complex concentrate, 34 839 tons of blister copper and 255 929 tons of sulfuric acid via TransNamib’s railway services. “We primarily transport bulk copper complex concentrates from the coast to the smelter. Once processed, the final product, blister copper, is transported from Tsumeb to the port for easy distribution to our clients worldwide,” the company said in response to questions. Additionally, the company utilises TransNamib to transport sulfuric acid, a byproduct of its smelting process, to its clients…
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Exports worth N$6.8 billion exported via sea

Exports worth N$6.8 billion exported via sea

CHAMWE KAIRA Goods worth of N$6.8 billion, representing 52.8% of total exports left the country by sea in June, the Namibia Statistics Agency said. The basket of exports via sea comprised mainly of uranium, fish and copper and articles of copper. Goods exported via air accounted for 26.7% of total exports, of which its export basket was mainly made up of diamonds and non-monetary gold. Lastly, Road transportation accounted for 20.5% with fish, petroleum oils and live animals being the highest valued commodities transported via the respective mode. In terms of volume, a total of 281 689 tons of goods…
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Baynes will interconnect Angola to SADC

Baynes will interconnect Angola to SADC

This week, Eng. Stephen Dihwa, Executive Director, Southern African Power Pool Coordination Centre (SAPP) talks about the impact that the proposed Baynes Hydropower project by Namibia and Angola will have on the southern African region. Observer Money (OM): The Namibian government has approved the signing of the agreement to develop the Baynes Hydropower project with Angola, what does the Baynes Hydropower project mean for SAPP? Stephen Dihwa (SD): Baynes Hydropower Power project will provide much needed additional clean power supply in the SADC Region starting with Namibia. As Angola will then be interconnected to the rest to the region, this…
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Banks have role in economic development

Banks have role in economic development

CHAMWE KAIRA Bankers Association of Namibia (BAN) has said the issue of interest rates and perceived high bank charges that props up from time to time was just one of the many issues that was discussed with President Nangolo Mbumba last week. “The meeting was a mere catch up with him on what we have been doing in our space to assist new industries, create employment and assist with economic development. This is an old issue coming from last year that he touched on, with many other constructive issues. So, it’s not a new issue that cropped up now. BAN…
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Ohorongo has no immediate expansion plans

Ohorongo has no immediate expansion plans

CHAMWE KAIRA Ohorongo Cement, which has a production capacity of more than one million tonnes of cement per year, has no immediate plans to expand its operations. “There are no immediate expansion plans. We can do more than one million tonnes of cement per year,” Rudolf Coetzee, general administration manager told Observer Money. Regarding some of the challenges that the company faces in transporting cement, the company said the challenges with railway transportation is linked to the challenges experienced by TransNamib. “We do have a good relationship with TransNamib, and the focus is on maintaining the relationship to the benefit…
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