Blog – Page 670 – Windhoek Observer

15 Dec

Walvis Bay mayor calls for a peaceful festive season

National News

Niël Terblanché As the festive season fills the air with joy and anticipation in Walvis Bay, Mayor Trevino Forbes has taken a moment to reflect on the accomplishments of the past year and extend warm wishes for a peaceful and enjoyable holiday season. “The end of the year is a time for reflection and setting new goals for the future,” he said in his special message. Despite the challenges that 2023 brought, Mayor Trevino Forbes expressed pride in the significant steps and milestones achieved in the coastal town. Some of the notable highlights include the successful relocation of the first…

15 Dec

SITA explores the shifting trends

Observer Money

With the arrival of Generative AI in 2023, the technology has surged to the top of airport and airline agendas, with 97 percent of airlines planning a program to develop the technology. This has taken the limelight away from Metaverse, which was the focus for 2022. Similarly, Urban Air Mobility has seen surging interest from airlines and airports, with the first flights due to take off in 2024. As a result, investment in the space across all stakeholders (including OEM, infrastructure, and systems) is projected to accelerate from US$5 billion in 2022 to US$28 billion in 2030. These were some…

15 Dec

Africa has US$250 billion green investment potential

Observer Money

KPMG has released a new report highlighting Africa’s significant investment opportunity in renewable energy, detailing nearly US$250 billion untapped green investment opportunities in areas such as solar, wind and hydrogen. As it stands, Africa will need US$277 billion annually between 2020 and 2030 to reach its Paris Agreement targets and implement its nationally determined contributions, to contribute to limiting global warming to 1.5°C, according to the Climate Policy Initiative. Despite this, it currently only receives US$29.5 billion in annual climate finance, revealing the significant inflows of both public and private finances required from domestic and international sources. The report ‘Climate…

15 Dec

NSA records third quarter GDP growth of N$6.8 billion

National NewsNSA records third quarter GDP growth of N$6.8 billion

Stefanus Nashama The Namibia Statistics Agency (NSA) has recorded the economic expansion of N$6.8 billion of the Gross Domestic Product (GDP) for the third quarter of 2023. NSA Statistician-General, Alex Shimuafeni, announced this yesterday and said the size of the Namibian economy, as quantified by the GDP at current prices, reached N$59.7 billion during the quarter under scrutiny. This, he said indicates an increase from the N$52.9 billion recorded in the corresponding quarter of 2022, which then consequently has experienced the expansion in the GDP size amounting to an increment of N$6.8 billion. In percentage, the GDP of the third…

15 Dec

Namra to disburse N$66.8 million in tax refunds

MainNamra to disburse N$66.8 million in tax refunds

Hertta-Maria Amutenja Namibia Revenue Agency (NamRA) is set to release tax refunds totalling N$66,805,594.15 to 63 150 individual salaried persons and pensioners. NamRa Chief Strategic Communications and Support Engagements, Yarukeekuro Ndorokaze, announced this yesterday and said that the agency is set to make the payments this week; however, the refunds will only be available to the taxpayers a week after. He said NamRA’s strategic approach involves meticulous risk assessment, the establishment of acceptable risk thresholds, and the implementation of an automated refund process. This has resulted in the processing of 91,092 returns, contributing to the clearance of refunds dating back…

14 Dec

Namibia is thriving in the use of technology

Observer Money

Martin Endjala According to Jan Coetzee, Managing Director of Headway Consulting, Namibia is making significant strides in embracing technology, establishing best practices within organizations, and recognizing the advantages of adhering to international standards in enhancing service delivery and the bottom line. However, the country still faces certain challenges, and both organizations and the nation as a whole must take the need for streamlining processes, compliance, and digitalization more seriously. "Organizations can greatly benefit from Enterprise Resource Planning (ERP) tools and available software to facilitate this transformation," Coetzee said. He believes that by embracing and implementing such tools throughout an entire…

14 Dec

BoN and NamRA launch trade verification system

Observer MoneyBoN and NamRA launch trade verification system

Stefanus Nashama The Namibia Revenue Agency (NamRA) and the Bank of Namibia (BoN) have jointly unveiled a new Trade Verification System (TVS) to ensure that trade activities are conducted legitimately and in full compliance with Namibia's international trade obligations. The new system is designed to oversee the nation's trade relations with the rest of the world, ensuring alignment with national laws under the auspices of NamRA and BoN. Deputy Minister of Finance and Public Enterprises, Maureen Hinda-Mbuende, speaking at the launch, said that the TVS establishes a secure and efficient framework for international business transactions. She noted that the system…

14 Dec

Nuclear energy is integral to GRN’s long-term plans

MainNuclear energy is integral to GRN’s long-term plans

Martin Endjala Mines and Energy Minister Tom Alweendo has affirmed that nuclear energy remains a crucial component of the government’s long-term plans, as articulated in its National Integrated Resource Plan (NIRP) issued earlier this year. He made this statement during a Cabinet Committee Briefing held in Windhoek. Alweendo pointed out that the NIRP has detailed how the government intends to manage the supply of electricity within the country. While nuclear energy may not be an immediate priority, it is considered as part of the long-term strategy. However, Alweendo emphasized that the feasibility of nuclear energy depends on various factors, including…

14 Dec

Numerous potentially fraudulent Black Friday transactions uncovered

National NewsNumerous potentially fraudulent Black Friday transactions uncovered

Martin Endjala It has been revealed that 3.1 percent of Namibian transactions conducted during the Black Friday period, spanning from 23 to 27 November 2023, were potentially fraudulent. Globally, the figure stood at 3.6 percent for all e-commerce transactions according to findings from TransUnion regarding global e-commerce fraud trends for the start of the 2023 Christmas season. TransUnion also detected that the average number of suspected digital fraud attempts on any given day in Namibia during that period was 87.5 percent higher than during the same period in 2022 and 19.5 percent higher than the rest of 2023 (from January…

14 Dec

Nampower secures grant from KfW

National News

Martin Endjala The Namibia Power Corporation (NamPower) received a significant grant of N$400 million from the German Development Bank to embark on the construction of Namibia’s inaugural utility-scale Battery Storage Energy System (BESS). The grant was formalized on 7 December 2021, when the KfW Development Bank, in collaboration with the National Planning Commission and NamPower, signed an agreement for the grant to facilitate the implementation of the first utility-scale BESS not only in Namibia but also in the broader Southern African region. The funds provided by Germany are specifically allocated for the construction of a 54 MW / 54 MWh…