Blog – Page 71 – News Stand

24 Apr

SA announces reversal of VAT increase

info_e12wt4csObserver Money

The South African Minister of Finance will shortly introduce the Rates and Monetary Amounts and the Amendment of Revenue Laws Bill (Rates Bill), which proposes to maintain the Value-Added Tax (VAT) rate at 15% from 1 May 2025, instead of the proposed increase to VAT announced in the Budget in March. The decision to forgo the increase follows extensive consultations with political parties, and careful consideration of the recommendations of the parliamentary committees. By not increasing VAT, estimated revenue will fall short by around R75 billion over the medium term. As a result, the Minister of Finance has written to the…

24 Apr

ANIREP acquires 45% stake in Cerim for N$60m

info_e12wt4csOpinions

CHAMWE KAIRA Alpha Namibia Industries Renewable Power (ANIREP) has concluded a conditional binding offer, in terms of which ANIREP will acquire a 45% shareholding in Cerim Luderitz Energy (Pty) Ltd for a total consideration of N$60 million. The vendors are Allied Worldwide Trading Limited, for a 30% shareholding, and Riminii Investment (Proprietary) Limited, for a 15% shareholding. CERIM is an Independent Power Producer (IPP) currently developing a 50 MW (AC) wind power plant located 17km south of Lüderitz in the Karas Region. The project will include the development of 743 hectares of land into a power-generating facility and the construction…

24 Apr

PPS banks on new products, solutions

info_e12wt4csObserver Money

CHAMWE KAIRA The strategy of PPS Insurance Namibia continues to be the introduction of new products, services and solutions. “That is why our Namibian members benefitted from the introduction of a retirement annuity product in 2024,” said Izak Smit, PPS Group CEO. The company is the provider of financial solutions exclusively for graduate professionals. “We are pleased with our performance, which was supported by our robust strategy. Our priority as a company operating under the ethos of mutuality is to support our members by paying all valid claims. Thereafter, we share our success with our members by allocating operational and…

24 Apr

Langer Heinrich production increases by 17%

info_e12wt4csObserver Money

CHAMWE KAIRA The Langer Heinrich Mine produced 745 484 pounds of uranium oxide during the quarter ending 31 March, a 17% increase on the previous quarter’s production, totalling over two million pounds’ production for the financial year to date. The mine is owned by Paladin Energy. Paladin Energy CEO Ian Purdy said the one-in-fifty-year rainfall event at the mine and surrounding areas in March caused the suspension of operations, saturation of the stockpiles and impacts on the processing plant chemistry. Additionally, flooding in the pit identified for early commencement of mining, along with delays in the delivery and mobilisation of…

24 Apr

Namibia produces 631 584 rough diamonds in Q1

info_e12wt4csObserver Money

CHAMWE KAIRA Namibia produced 631 584 carats of rough diamonds in the first quarter ended 31 March 2025, Anglo American, which owns De Beers, said. De Beers jointly owns several diamond production and processing companies with the Namibian government. Production figures indicated that Debmarine Namibia produced 461 395 carats, while Namdeb (land operations) produced 170 189 carats. Namibia produced 584 000 rough diamonds in the fourth quarter of 2024. Rough diamond production in the third quarter of 2024 was 456 000 carats, while in the second quarter of 2024 it was 561 000 carats and 633 000 carats in the…

23 Apr

PDM seeks clarity on state’s policy for offices of ex-presidents

info_e12wt4csMain

Hertta-Maria Amutenja The death of Founding President Sam Nujoma has sparked renewed questions over the long-term use of state-funded offices allocated to former heads of state. The Popular Democratic Movement’s (PDM) leader, McHenry Venaani, on Wednesday submitted a series of questions to Prime Minister Elijah Ngurare, seeking clarification on the future use and policy governing these facilities. The office used by Nujoma since his retirement in 2005 is located in Klein Windhoek suburb at the corner of Schweringsburg Street and Robert Mugabe Avenue. With both Nujoma and Geingob now deceased, Venaani questioned whether the government plans to revisit policies on…

23 Apr

Land reform, corruption, jobs top SONA wish list

info_e12wt4csNational News

Allexer Namundjembo As President Netumbo Nandi-Ndaitwah prepares to deliver her first State of the Nation Address (SONA) in Parliament today, opposition political leaders are calling for a clear plan to address unemployment, land reform, corruption, and the rising cost of living.. Nandi-Ndaitwah’s maiden SONA comes at a time when many citizens are struggling to make ends meet, and opposition parties have made it clear that vague promises will not be enough. Political parties, especially those in opposition, are calling on the president to provide concrete strategies on key national issues, including food security, land reform, governance, education, and economic recovery.…

23 Apr

Brave Warriors, Gladiators get fresh look

info_e12wt4csSports

Erasmus Shalihaxwe The Brave Warriors and Brave Gladiators will now take to the field with a renewed sense of identity following the unveiling of brand-new kits for both national teams. The kits were sourced from local manufacturer 90 Minutes and unveiled at the Namibia Football Association’s (NFA) headquarters in Windhoek on Wednesday. The sponsorship, valued at around N$495 000, was mobilised by Tim Ekandjo, Isack Hamata, John Doeseb, and Amos Shiyuka. It includes full playing kits, training gear, stepping-out outfits, and sneakers for all players and technical staff. Ekandjo said the initiative was inspired by a request from the late…

23 Apr

CoW to resettle 644 households in Mix Resettlement formalisation project

info_e12wt4csNational News

Hertta-Maria Amutenja The City of Windhoek plans to relocate 644 households from the Mixed informal settlement to pave the way for formalisation efforts in a project estimated to cost over N$251 million. The decision was discussed during a quarterly meeting of the Council Advisory Committee on the Formalisation of Informal Settlements and Integration of Groot Aub held on 22 April. The new layout plan for the Mix informal settlement accommodates only 830 of the 1 474 households counted in March. This necessitates the relocation of nearly half of the community, either within the settlement or to alternative locations. The chairperson…

23 Apr

Shafudah defends budget priorities amid debt and development concerns

info_e12wt4csNational News

Niël Terblanché Finance minister, Erica Shafudah has defended the structure and priorities of the national budget for the 2025/26 financial year during her official response to parliamentary debate, acknowledging economic constraints on Wednesday. The minister assured Members of Parliament that the government is balancing development goals with fiscal responsibility. Responding during the second reading of the Appropriation Bill, Shafudah said the budget had been crafted under careful consideration of both global uncertainties and Namibia’s domestic challenges, including unemployment, poverty, housing and inequality. “We cannot do everything at the same time,” she told MPs while calling for a unified approach to…