Blog – Page 609 – Windhoek Observer

19 Dec

Loan boosts Namibian agriculture with N$400 million

National NewsLoan boosts Namibian agriculture with N$400 million

Niël Terblanché Namibia’s agricultural sector received a significant boost as the Agricultural Bank of Namibia (Agribank) and KfW Development Bank inked a historic agreement, securing a concessional loan of just over N$400 million. The collaboration, which aims to empower Namibian farmers and related food-producing businesses, promises to revolutionize access to financing for the communal and commercial farming sectors and Micro, Small, and Medium Enterprises (MSMEs) involved in agriculture and food processing. Agribank, as the recipient of the funds, plans to utilize the resources to provide expanded financing facilities to small-scale farmers and MSMEs engaged in primary agriculture and agro-processing. By…

19 Dec

ECB approves cost of unserved energy

National NewsECB approves cost of unserved energy

Martin Endjala Namibia’s Electricity Control Board last week announced that it has approved the Cost of Unserved Energy (COUE) study which is considered key economic and financial parameters of customer interruptions. The cost of unserved energy refers to the economic impact or cost of discomfort on households when there is a lack of available energy to meet their needs. The ECB’s Chief Executive Officer, Robert Kahimise said that the study provides an economic value to the cost of unplanned electricity interruptions, as well as the inability to meet electricity demand at a given time to electricity customers and the economy…

19 Dec

Scammers are stooping to a new low, targeting war veterans

National NewsScammers are stooping to a new low, targeting war veterans

Niël Terblanché In a disturbing turn of events, scammers have resorted to impersonating officials from the Ministry of Defence and Veterans Affairs (MODVA) in an attempt to extract personal bank account information from Veterans of the National Liberation Struggle. Colonel Petrus Shilumbu, the head of MODVA’s public relations division in a statement said this new and alarming trend has raised concerns among authorities, prompting him to issue a call to struggle veterans to be cautious. According to the colonel, the Ministry recently received credible information regarding individuals falsely representing themselves as MODVA officials. “These imposters approach war veterans, requesting their…

19 Dec

Erongo Region welcomes new Chief Regional Officer

National News

Niël Terblanché The Erongo Regional Council has welcomed a new leader to its ranks with the appointment of Mupenzeni Ntelamo as the Chief Regional Officer (CRO), effective from December 1st. Ntelamo’s appointment follows the resignation of the former CRO, Ludmilla Habate Doȅses, in September last year. In a statement, Benita Imbamba, Chairperson of the Erongo Regional Council, expressed the council’s enthusiasm for this new chapter. “The entire Erongo Regional Council, management, and staff, are honoured to welcome Mr Ntelamo as the new Chief Regional Officer,” she said. Imbamba conveyed her confidence in Ntelamo’s leadership abilities and vision for development, emphasizing…

19 Dec

Money supply growth is up by 7.9 percent

Observer Money

Martin Endjala The latest Bank of Namibia Quarterly Bulletin for December 2023 reported that annual growth in broad money supply has experienced a moderate increase of 7.9 percent. This growth has been primarily driven by a significant surge in Net Foreign Assets of the depository corporations. However, during the same period, Private Sector Credit Extension saw a slowdown of 1.6 percent in the third quarter of 2023. This rise in annual growth during the third quarter of 2023 was fueled by an increase in Net Foreign Assets of the depository corporations, attributed to diamond proceeds and revaluation gains. On the…

19 Dec

Vulnerable Namibians exploited by international smuggling syndicates

MainVulnerable Namibians exploited by international smuggling syndicates

Niël Terblanché A recent case involving the arrest of a Tanzanian national and three Namibians has shed light on a disturbing trend of international poaching syndicates exploiting local communities in Namibia for illegal harvesting of endangered plant and animal species. This illicit trade is not only threatening the nation’s unique plant species but also endangering the livelihoods of its people. Diana Mashiku (29) from Tanzania, believed to be a plant-trafficking kingpin, and her three Namibian accomplices, Veisiruaije Tjavara (25), Jennifer Simataa (37), and Tjivinda Unatavi (31), were apprehended while in possession of 46 Adenia pechuelii plants, commonly known as Elephant’s…

18 Dec

Acquisition of 350 tractors will aid more communal farmers

Observer MoneyAcquisition of 350 tractors will aid more communal farmers

Niël Terblanché To support communal farmers and enhance food production in Namibia, the Ministry of Agriculture, Water, and Land Reform has acquired a total of 350 brand-new tractors with varying agricultural applications. These tractors will be distributed across the country to benefit communal farmers during the upcoming ploughing season. The transaction is a substantial investment in the agricultural sector and the future food security of the people. According to Ndiyakupi Nghituwamata, the Executive Director of the agriculture ministry, 298 tractors have already been delivered to various regions of the country to improve agricultural practices and productivity. She added that the…

18 Dec

Significant improvement in vehicle sales during November

Observer MoneySignificant improvement in vehicle sales during November

Martin Endjala In November 2023, the automotive market experienced a notable upswing, with vehicle sales surging by 12.4 percent. This positive shift comes after four consecutive months of decline. In contrast to the previous month's downturn of -12.5 percent, the sales recorded a substantial increase of 27 percent. Economist Halleluya Ndimulunde reported that the total number of units sold in November reached 1,171. She emphasized the varying performances in different segments of the market. T The heavy commercial vehicles (HCV) sector faced a significant downturn, witnessing a steep 37.5 percent decrease in units sold. Conversely, the light commercial vehicles (LCV)…

18 Dec

China’s High-Quality Development Presents New Opportunities for Namibia’s Modernization

OpinionsChina’s High-Quality Development Presents New Opportunities for Namibia’s Modernization

Josef Kefas Sheehama As the world economy is facing a tough situation in 2023, with probably tougher prospects for 2024, China’s economic outlook carries global significance. China’s modernization stride will inject more certainty into the global economy. As Namibia’s projected economy to 3.9% expansion in 2023 and a 3.4% growth in 2024, according to the Bank of Namibia’s Economic Outlook, the smart partnership with China will elevate Namibia’s anticipation to exceed the desired economic growth. This will materialize through policy coordination, cultural exchanges, and targeted investments in infrastructure and many other fields as China has implemented various bankable projects in…

18 Dec

Genocide descendants must, should see 2024 as the year of serious recalibration and ACTION on genocide, apology and reparations

OpinionsGenocide descendants must, should see 2024 as the year of serious recalibration and ACTION on genocide

By Concerned descendants of the survivors of genocide Rikondja Ben Katjitundu Karamata, Vitura Kavizembua Kavari, Verikomba Mbahuurua and Kae Matundu-Tjiparuro Genocide descendants must, should see 2024 as the year of serious recalibration and ACTION on genocide, apology and reparations As 2023 draws to a close and with much anticipation we herald 2024, as descendants of the great warriors of the anti-colonial resistances against German penetration and occupation of our ancestral, then known by the imperialists and their accomplices and allies as German South West Africa, we cannot but pause and seriously reflect on the year that has been. Such reflection…