Blog – Page 718 – Windhoek Observer

02 Feb

SADC training aimed at enhancing knowledge of programs

Uncategorised

Niël Terblanché In a decisive move to amplify the Southern African Development Community’s (SADC) presence on a global scale, officials tasked with Information, Communication, and Public Relations across Member States received focused training during a workshop in Swakopmund. The initiative, spearheaded by the SADC Secretariat, aims to elevate the communication, awareness, and visibility of the organization’s programmes, activities and impacts both within the region and internationally. Ambassador António Nascimento, the Director of Institutional Communications and Press at the Ministry of External Relations of Angola (MIREX), during his welcoming address, stressed the necessity for member states to work together and share…

02 Feb

Ghost companies drain more than N$100 Million from Namibia

MainGhost companies drain more than N$100 Million from Namibia

Hertta-Maria Amutenja In a groundbreaking revelation, Namibia’s Revenue Agency (Namra) Commissioner, Sam Shivute, exposed a syndicate of ‘ghost companies’ orchestrating the illicit transfer of more than N$100 million out of the country. “Last year, our investigation team picked out a syndicate that we call ghost companies. You find people who would register a business with Bipa, but before they register the business, they would go to disadvantaged people in villages and informal settlements and get people’s identification documents, promising those people social grants,” Shivute. He revealed the depth of the illicit activities, citing an example of ghost companies exploiting unsuspecting…

02 Feb

Namport, Terminal finalising deal

Observer Money

CHAMWE KAIRA Namport and Terminal Investment Limited (TIL) remain seized with finalizing the terms, conditions and all attendant schedules to the proposed concession of the port of Walvis Bay. Terminal Investment Limited was founded in 2000 by the Aponte Family to secure container terminal capacity in the major ports called by our majority owner and main client, MSC Mediterranean Shipping Company. Securing increasingly restricted terminal capacity is critical to the development of MSC’s core container shipping business. “We will therefore, in due course, make the appropriate and necessary public pronouncements once the process has been completed,” Taná Pesat, Manager of…

02 Feb

Stampriest Basin economic study underway

Observer Money

CHAMWE KAIRA The Stampriet Aquifer Uranium Mining Association (SAUMA) is currently conducting a study to provide the economic value of the Stampriest Artesian Basin to Namibia. “We have instructed professionals to provide this information independently,” SAUMA said in a response to questions by Observer Money. SAUMA noted that in terms of agriculture activities contribution to the Namibian economy, SAUMA noted that agriculture provides a livelihood to roughly 70% of all Namibians and said various sectors are involved and depend on the outcomes of agriculture. The Stampriest Artesian Basin strides between Namibia, Botswana and South Africa. The Stampriet Transboundary Aquifer System…

02 Feb

Uranium One says SAUMA declining dialogue

Observer Money

CHAMWE KAIRA Uranium One Group says it has taken note of Stampriet Aquifer Uranium Mining Association (SAUMA)’s open letter which was published in the media recently. The Uranium One Group which aims to invest up to N$8,5 billion in the Namibian economy through the uranium mine near Stampriest. Uranium One said it is of the opinion that SAUMA’s letter was one sided and did not take all factors into consideration. The company said Rosatom, the mother company of Uranium One Group, has a proven track record of over 50 years in In-Situ Leaching or In-Situ Recovery (ISR) mining. “Because Rosatom…

02 Feb

Foreign reserves increase to N$54.9 billion

National News

The stock of international reserves increased by 8.4% month to month to N$54.9 billion at the end of December, relative to N$50.6 billion in November, the Bank of Namibia revealed. The central bank said the increase was attributable to higher commercial bank inflows as a result diamond sales and customer foreign currency placements (CFC’s). The foreign reserves translated into 4.6 months of import cover. Growth in M2 (money supply) rose to 10.7% at the end of December relative to a growth of 10.3% in November. The rise in M2 growth stemmed from an increase in domestic claims, during the period…

02 Feb

Walvis Bay woos neighbouring countries

Observer Money

CHAMWE KAIRA The growing attractiveness of Walvis Bay as a preferred option for import and export activities among hinterland countries such as Botswana, Zambia, Zimbabwe, and the Democratic Republic of the Congo (DRC) can be attributed to several key factors including strategic location, efficient transport corridor, modern infrastructure, customs and trade facilitation, competitive costs, political stability, diversified cargo handling and being transshipment hub, Acting Executive: Commercial Services at NamPort, Trevor Ndjadila said this week. In terms of strategic location, he said Walvis Bay offers a strategic and geographically advantageous location along the southwestern coast of Africa. It provides these landlocked…

02 Feb

Nakale appointed Letshego chairperson

Observer Money

Letshego Holdings Namibia has appointed Mansueta-Maria Nakale as chairperson of the board of Letshego and its subsidiaries. Letshego shareholders were advised that Maryvonne Palanduz's tenure agreement with Letshego has come to an end and accordingly retired from the board, effective 31 January 2024. Letshego said Nakale holds a Masters in Corporate Financial Management (University of Cape Town), Bachelor of Commerce - Accounting and Economics(UNISA), Masters in Business Administration (Stellenbosch) and a Certificate in Project Management (University of Sellenbosch). Nakale has over 20 years of experience in the financial sector with a specialisation in investment management and financial sector supervision. She…

02 Feb

Driving positive change through financial solutions

Observer Money

In Namibia, making a real impact with financial solutions is a shared endeavour that requires collective action, innovative thinking, and a deep understanding of our people's needs. As a united force within the financial services industry, we bear a collective responsibility to lead the way toward a better future for everyone. At the forefront of our efforts is the imperative to ensure that our financial strategies are intricately aligned with Namibia's unique socio-economic landscape. This involves fostering collaboration and partnership with key stakeholders, including the government, businesses, and community groups, to identify priority areas where our combined resources can generate…

02 Feb

Brandon Munro appointed Bannerman chairman

Observer Money

Bannerman Energy Limited has announced changes to its board and key executive roles, effective from early March 2024, in further preparation for planned development of its flagship Etango Uranium Project in Namibia. After almost 15 years of dedicated service, Ronnie Beevor will be retiring from the Bannerman Board. Bannerman’s current Managing Director and CEO, Brandon Munro, will assume the role of Executive Chairman. Alison Terry will be appointed as Lead Independent Director and Gavin Chamberlain is to be promoted from Chief Operating Officer to the Company’s Chief Executive Officer. Bannerman Executive Chairman-elect, Brandon Munro said the changes are designed to…