Observer Money

NBL makes generous donations to promote road safety

NBL makes generous donations to promote road safety

Niël Terblanché Namibia Breweries Limited (NBL) has reiterated its commitment to road safety by pledging N$200,000 to support various initiatives aimed at promoting safe driving practices throughout the country. This generous contribution includes N$90,000 allocated for refreshments for members of the Namibian Police stationed at roadblocks, as well as contributions to the Motor Vehicle Accident Fund's (MVA) road safety awareness campaigns. NBL is not only dedicated to producing quality beer but also advocates for responsible drinking behaviour. Surihe Gaomas-Guchu, NBL's Corporate Affairs Manager, emphasized the importance of consuming alcohol responsibly and avoiding drunk driving during the holiday season when many…
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Trainees urged to uphold standards of NAMSIP initiative

Trainees urged to uphold standards of NAMSIP initiative

Hertta-Maria Amutenja The Executive Director of the Ministry of Agriculture, Water, and Land Reform, Ndiyakupi Nghituwamata, has implored 152 Farm Machinery Operator Graduates trainees to uphold the high standards set by the Namibia Agricultural Mechanisation and Seed Improvement Project (NAMSIP) initiative. Nghituwamata delivered this message during the official certificate handover ceremony held at the Mashare Agricultural Development Institute last week. She stressed the importance of adhering to the project's principles and maintaining the trust of both the ministry and the farmers they will serve. "No malpractices, and don't disappoint the ministry and our farmers you will be serving," Nghituwamata said.…
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Dundee to invest N$7 billion after acquiring Osino Resources

Dundee to invest N$7 billion after acquiring Osino Resources

Erasmus Shalihaxwe Dundee Precious Metals (DPM) is planning to invest between N$6 to N$7 billion after acquiring 100 percent shares in Osino Resources Corp. Osino Resources Corp owns the Twin Hills Gold Development project, a Mining site in the area of Karibib in the Erongo Region. DPM announced yesterday that the planned investment includes construction of the project, infrastructure and employment. With activities planned to take place between 2024 and 2026. The company is also estimated to pay N$700 million per year to the Namibia government for 13 years. While 75 percent of goods and services that will be sourced…
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Money supply growth is up by 7.9 percent

Money supply growth is up by 7.9 percent

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…
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Acquisition of 350 tractors will aid more communal farmers

Acquisition 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…
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Significant improvement in vehicle sales during November

Significant 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)…
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Electricity boosted by good Ruacana flow

Electricity boosted by good Ruacana flow

CHAMWE KAIRA The electricity and water sector is expected to maintain strong growth in 2023, before registering low growth in 2024, according to Bank of Namibia statistics. The electricity and water sector is estimated to grow by 9.5 percent and 4.2 percent in 2023 and 2024, respectively, a slowdown from 10.3 percent in 2022. The strong growth in 2023 is mainly attributed to the electricity sub-sector where local generation of electricity improved on the back of an increased water level at the Ruacana hydro-power plant during the latest rain season. The latest growth estimate for 2023 was revised upwards by…
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Low volumes delay Namcor/TransNamib deal

Low volumes delay Namcor/TransNamib deal

CHAMWE KAIRA The Memorandum of Understanding signed between Namcor and TransNamib on September 6, 2021 for the transportation of lubricants has not commenced yet because of the lower volumes. “Regarding the quantity of petroleum and lubricant products transported by Namcor since the agreement was signed, we have not yet commenced the transportation of lubricants with TransNamib. This is due to lower volumes, and our strong client relationships allow us to deliver lubricants directly to our customers,” said Paulo Coelho, Manager of Marketing, Communication and Public Relations at Namcor. However, Coelho, said in terms of ULP and Diesel, for the year…
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Paratus plans to invest N$137m in infrastructure

Paratus plans to invest N$137m in infrastructure

Chamwe Kaira Communications company, Paratus Namibia plans to invest N$137.8 million investment into infrastructure in 2024, the company said in the Integrated Annual Report 2023 released recently. Paratus said this investment will mainly be earmarked for capital expenditure projects. These projects include the completion of the fiber route running through Botswana to connect South Africa with the Equiano Submarine Cable, long-term evolution (LTE) expansion to the major towns of Namibia, which provides inter-alia Paratus with the ability to compete in the lower market segment. The capex will be funded with own cash resources only, the company said. Paratus Namibia Holdings…
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ANIREP plans to secure 30 percent market share

ANIREP plans to secure 30 percent market share

CHAMWE KAIRA Alpha Namibia Industries Renewable Power Limited (ANIREP) has vision to secure a 30 percent market share in the renewable energy sector. During the first half, the IPP Sale of Electricity through ANIREP Solar (Pty) Ltd consistently generated a steady income of N$17.2 million, aligning with the preceding period, attributable to Power Purchase Agreements (PPAs). The PPA with NamPower remains effective until 2040, while the PPA with CENORED was extended in December 2022 for an additional year, now spanning until 2042. This extension accommodates a 120 percent capacity increase and volumes, expanding the current capacity from 5MW to 11MW,…
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