Blog – Page 791 – Windhoek Observer

07 Jul

Government to net a quarter billion in next two years in green hydrogen project

Observer Money

Martin Endjala Following some scepticism from the public on the government’s 24 percent stake in the Green Hydrogen project, it is projected that government will make a net profit of a quarter Billion Namibian Dollars in the next two years. This is unlike mining or oil where government traditionally receives next to nothing for leasing out the land, for mining exploration licences, for example. It is, however, not the case with green hydrogen, as the government is said to get paid in a region of N$10 000 per licence. This means the government is already being compensated for availing the…

07 Jul

Namibia projects to produce 350 000 tons of green hydrogen

Observer MoneyNamibia projects to produce 350 000 tons of green hydrogen

Martin Endjala As the world moves towards a green economy, Namibia’s green hydrogen project is projected to produce 350 000 tons of the gas once it is fully operational. Currently, 90 percent of the world has committed to achieving net zero carbon emissions with the use of solar and wind power as the main source of energy. Big market countries like Japan, China, the USA and Europe are seeking to reach lower carbon emissions but do not have enough land to build green energy plants which makes Namibia a very good prospect in this regard. In a recent media briefing,…

07 Jul

RMB arranged FNB Namibia’s green bond issuance

Observer MoneyRMB arranged FNB Namibia’s green bond issuance

RMB in Namibia and RMB’s SA debt capital markets and sustainable finance teams in September last year successfully arranged FNB Namibia’s first green bond issuance in the local debt capital markets. This marked the second issuance of green bonds in Namibia with FNB Namibia raising N$353 million across three- and five-year notes. The proceeds of the green bonds are allocated to eligible green loans applied towards Namibian green buildings and renewable energy generation projects. Sustainability is key to FNB Namibia’s vision of a globally competitive Namibia, and these green bonds mark a major milestone for the country and the bank.…

07 Jul

Rosh Pinah Solar Park comes on stream

Observer MoneyRosh Pinah Solar Park comes on stream

CHAMWE KAIRA Emesco’s Rosh Pinah Solar Park is operational with the plant supplying solar PV generated energy as embedded generator to Rosh Pinah Mine, Emesco executive Roger Avice Du Buisson told Observer Money. The first 5.7 MWp phase has been completed and will increase to 15 MWp in phase two to support the expansion of the mine, Du Buisson said. He said N$90 million has been invested in the project and was supported by the Development Bank of Namibia for the debt portion. The plant has 70% Namibian and 30% South African shareholding. “Projects like these are making use of…

07 Jul

SADC urged to strengthen climate finance expertise

Observer MoneySADC urged to strengthen climate finance expertise

CHAMWE KAIRA Southern African Development Community (SADC) has been urged to strengthen regulators’ and stock exchanges’ expertise on climate finance, as well as green bonds, so they can play leadership roles. “They have dual roles: implementing appropriate regulations, as well as to support market development,” a market report on the green bond market in the Southern Africa Development Committee (SADC) region prepared for FSD Africa and Committee of SADC Stock Exchanges (CoSSE). The study covered the identification of green bond opportunities in the region, the barriers that hinder their uptake, and recommendations to overcome these. The study informed the development…

07 Jul

Environment and making investment decisions

Observer MoneyEnvironment and making investment decisions

Bank Windhoek’s sustainable finance and environmental, social and Governance analyst, Joachim Komeheke says Namibia cannot deny the importance of protecting the environment as these are aspects that determine the modality and functionality of any economy across the globe. “The European Commission defines Sustainable Finance as the “process of taking Environmental, Social and Governance (ESG) considerations into account when making investment decisions in the financial sector, leading to more long-term investments in sustainable economic activities and projects”. Komeheke says for a greater part of human’s existence on earth, especially since the industrial revolution, humans have primarily focused on extraction and growth,…

07 Jul

Police confiscate drugs worth N$617 475 in June

Featured

Niël Terblanché Large quantities of illicit drugs such as crack cocaine, cannabis and mandrax have been confiscated by the Namibian police during focused operations in June. According to Deputy Commissioner Kauna Shikwambi, the head of the Namibian Police’s Public Relations Division, the combined value of the confiscated drugs is estimated at N$617 475. She said that officers managed to arrest 153 suspects in June. She said that 148 of the suspects were identified as Namibians, while one Angolan, one Congolese and three Zambian nationals were found to be in possession of illicit drugs. The suspects had cannabis worth N$555 455,…

07 Jul

//Hoebes defends Swapo

Main

Martin Endjala The Minister of Presidential Affairs in the Presidency, Christine //Hoebes has come to the defence of the ruling party Swapo, saying that it has ensured that corruption is non-endemic or non-systemic in Namibia. She said this in response to a motion tabled by the Popular Democratic Movement leader, McHenry Venaani last month on the investigation into the purported power struggle and impropriety at NAMCOR. //Hoebes now wants the PDM’s motion dismissed. She stated that Venaani made several assertions that can only be referred to as incendiary and misguided. “His claim that the inability of the Swapo Party government…

07 Jul

NSFAF management grilled over ‘wasted’ N$15 million

National NewsNSFAF management grilled over ‘wasted’ N$15 million

Stefanus Nashama The Namibia Students Financial Assistant Fund (NSFAF) said it paid a total N$15 million to Onecall Solutions, a company that failed to deliver services to the fund for a period of four years. Appearing before the Parliamentary Standing Committee on Public Accounts yesterday, NSFAF’s Acting Chief Executive Officer, Kennedy Kandume said upon investigating, it was found that OneCall Solutions was failing to deliver as per the agreement. Kandume who became the Acting CEO of NSFAF in April 2018 said they paid the company and had to terminate the contract with the company after it had failed to honour…

07 Jul

Calls for Amushelelo’s release increase

National News

Stefanus Nashama Calls for the immediate release of arrested activist and member of Namibia Economic Freedom Fighters (NEEF), Michael Amushelelo have gradually increased on social media, with many young people warning of another mass action at national level. Many young people expressed that they are uncomfortable with the way the Magistrate Court is handling and dealing with Amushelelos’ criminal cases. According to social media comments associated with the call for Amushelelo’s immediate release, the youth believe that Amushelelo’s continued incarceration is a ‘planned hidden agenda’ that prevents him from opening the public’s eyes to the many things he knows while…