Blog – Page 369 – News Stand

11 Jul

ANIREP achieves requirements for solar plant

info_e12wt4csEnergy, Observer Money

CHAMWE KAIRA Alpha Namibia Industries Renewable Power Limited (ANIREP) informed shareholders this week that it has successfully fulfilled its Engineering, Procurement, and Construction (EPC) obligations for the Omburu 26.134MWp Solar PV Project and the issuance of the performance certificate by NamPower. The company said this significant achievement reflects ANIREP's Group commitment to delivering high-quality renewable energy solutions. ANIREP said as part of obligations outlined in the contract signed on 16th December 2020, between the HopSol Africa Pty Ltd / Tulive Private Equity Pty Joint Venture and NamPower and the Central Procurement Board of Namibia, shareholders were notified that the contractor…

11 Jul

Rates cuts expected at year end

info_e12wt4csObserver Money

CHAMWE KAIRA Simonis Storm Securities expect the South African Reserve Bank to implement its first rate cut in September. The firm believes that the political landscape in South Africa shows positive signs moving forward, but economic growth remains subdued, and further evidence is needed to confirm sustained improvement. In contrast, for Namibia, the firm project the Bank of Namibia to implement a 25 basis points cut by the end of 2024. The South African Reserve Bank decided to keep its key repo rate at 8.25% on 30 May marking the sixth consecutive meeting at 2009-highs, as widely expected. While the…

11 Jul

Namfisa urges customers to ensure fair resolution

info_e12wt4csObserver Money

CHAMWE KAIRA Namibia Financial Institutions Supervisory Authority (Namfisa), Chief Executive Officer, Kenneth Matomola has encouraged Namibians to lodge their complaints with Namfisa to ensure a fair resolution when they have disputes with non-banking financial institutions. He explained that a complaint must first be lodged with the financial institution concerned and the clients must ensure that they receive a response in writing. If not satisfied with the response received from the financial institution, a complaint must be lodged with Namfisa. He said the complaints can be emailed, or submitted in person at the Namfisa head office, faxed or sent by post.…

11 Jul

Khomas, northern regions inflation at 4.8%

info_e12wt4csObserver Money

CHAMWE KAIRA The year-on-year inflation rate stood at 4.8% in Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi) in June this year compared to 5.2% registered during June 2023. The Namibia Statistics Agency said the slowdown in the annual inflation rate emanated mainly from the slow increases registered in the price levels of ‘food and non-alcoholic beverages’ (from 11% to 4.1%); ‘education’ (from 4.5% to 0.6%); ‘miscellaneous goods and services’ (from 6.8% to 1.4%); ‘clothing and footwear’ (from 3.7% to 1.9%); and ‘furnishing, household equipment and routine maintenance of the house’ (from 6.4% to…

11 Jul

Dairy farmers get extra winter levy

info_e12wt4csObserver Money

CHAMWE KAIRA Namibia Dairies has announced the implementation of a supplementary winter levy to support its dairy farming partners during the challenging winter season. The company said recognising the current trading environment and the considerable strain posed by the ongoing drought, Namibia Dairies is committed to supporting its partners in the dairy industry to the best of their ability. The company announced that subject to all quality specifications being met, the winter levy of 75 cents per litre will be paid for all raw milk delivered by standing dairy farming partners between 1 June and 31 August. The initiative aims…

11 Jul

Russia’s diamond surpasses Botswana

info_e12wt4csObserver Money

The value of Russia’s rough-diamond production surpassed Botswana’s for the first time in 2023 even as sanctions and a weak market hindered the country’s diamond sales. The growth comes despite increased sanctions, including the addition of the European Union to the list of those banning Russian diamonds and harsher rules by the US regarding goods substantially changed in a third-party country, such as India. Last year, Russia produced 37.3 million carats of rough, with a total value of US$3.61 billion, at an average price of US$97 per carat, according to statistics the Kimberley Process (KP) in its production report. That…

11 Jul

A youth with conscience and willingness to effect change: a dispensation must take place

info_e12wt4csOpinions

Sem David What a Namibian youth should do to effect changes in the country? As an advocate of youth empowerment and community development, I often ask myself where we are headed in this current state. It is concerning to observe the lack of understanding and limited participation among youth in the revolutionary process of change. We sit down and complain and attack each other on social media, ignoring the fact of what we are supposed to do to bring about the changes we claim to have. We are in a state of chaos and disarray, and it is only when…

11 Jul

For mediocrity let’s get a landslide in November!

info_e12wt4csOpinions

Are some of the political parties and formation and/or would be politicians what the Namibian voters deserve, and therefore they must accept and leave with them and the mediocrity presented to them? Yours Truly Ideologically cannot but pose this question. Since sooner in November the country is going to the polls when voters must make that important and crucial choice. A choice that every voter only makes every five years or so. Meaning, unless she/he makes that choice this November, for the next five years in one way or another she/he is doomed. Because given the nascent nature of Namibian…

11 Jul

MTC gives update on service outage

info_e12wt4csLatest

Following the power outage that affected large parts of Windhoek last night people from all over Namibia were left without cell service.In a statement, MTC explained that the power outage in Windhoek occurred in an area where most of its core systems are located. The systems provide service to the rest of the country.The statement said the power outage was followed by continued electrical surges that negatively affected the equipment’s automatic service restoration which resulted in service failure in some parts of the country.As a result, MTC initiated its backup systems and contingency plans to minimise service interruption, whilst its…

11 Jul

Corruption getting worse

info_e12wt4csLatest

Two-thirds of Namibians believe that corruption in the country is getting worse.This is according to the Afrobarometer survey released earlier this month.The survey shows that a large majority of people believe that at least some representatives and officials in government, civil society, and business are involved in corruption.According to the survey, most citizens say the government is doing a poor job of fighting corruption and that ordinary people risk retaliation if they speak out. Report: Martin Endjala