Observer Money – Page 117

23 Jun

Losing AGOA status could see SA losing N$44b

info_e12wt4csObserver MoneyLosing AGOA status could see SA losing N$44b

Chamwe Kaira …. Impact on Namibia to be minimal …. Weakened rand would affect Namibian dollar …. Weak rand could pressure interest rates The biggest risk that South Africa faces with over its neutral stance regarding the Russia/Ukaraine conflict is possibly being kicked out of the AGOA pact and having its exporters lose preferential access to the US market. “This would affect around N$44 billion of our export revenue, making up almost 25% of the total exports to the US,” economist at Stanlib South Africa, Ndivhuho Netshitenzhe told Observer Money. Netshitenzhe said while this doesn’t mean that South Africa won’t…

23 Jun

IATA to improve aviation safety in Africa

info_e12wt4csObserver MoneyIATA to improve aviation safety in Africa

The International Air Transport Association (IATA) is launching the Collaborative Aviation Safety Improvement Program (CASIP) to reduce the accident and serious incident rate across Africa as part of the Focus Africa initiative. Launch partners in the program are: The International Civil Aviation Organization (ICAO), The African Civil Aviation Commission (AFCAC), The US Federal Aviation Administration (FAA), Boeing, The Airlines Association of Southern Africa (AASA). Together, the CASIP partners will prioritise the most pressing safety concerns on the continent and rally the resources needed to address them. The benefits of improving aviation safety in Africa will be spread across the economies…

21 Jun

MoU signifies another milestone in Namibia’s hydrogen future

info_e12wt4csFeatured, Observer Money

Niël Terblanché By becoming signatories to a Memorandum of Understanding (MoU) between the Namibian Government and Dutch partners the country has taken another significant step towards realising the potential of the transformative green hydrogen sector for the benefit of all Namibians as envisaged in the Harambee Prosperity Plan II (HPPll). The Ministry of Finance and Public Enterprises announced the conclusion of agreements for the establishment and management of a special vessel, NH2 Fund Managers, which will expedite the government’s option to take up a 24 percent interest in the first awarded project under development by Hyphen Hydrogen Energy. The signing…

21 Jun

Bank Windhoek collaborates with Pupkewitz Haval brand

info_e12wt4csObserver Money

Martin Endjala Namibia’s 2023 vehicle sales reports indicate that passenger and commercial vehicle segments have been recording positive year-on-year growth for ten consecutive months, with rising interest rates seemingly doing little to dampen demand. To further assist the motoring industry’s drive to bring vehicles to customers, Bank Windhoek’s Vehicle and Asset Finance (VAF) Branch, in collaboration with Pupkewitz Haval, recently hosted a mini outdoor motor show in Windhoek. VAF’s Manager of Corporate and Commercial Business, Riaan Gouws, said the initiative is aimed at creating awareness and strengthening relationships with the Pupkewitz Haval brand in bringing services out of the motor…

20 Jun

BoN declares QZ Asset Management a pyramid scheme

info_e12wt4csFeatured, Observer Money

Hertta-Maria Amutenja Following complaints by members of the public, the Bank of Namibia (BoN) has warned the public about investing their hard-earned money in an illegal scheme of QZ Asset Management. In a statement, the central bank, cautions the public to refrain from promoting or participating in the business activities of QZ Asset Management or any other unauthorised financial schemes, as such activities are against the law and may result in financial losses to those that partake in it. According to Kazembire Zemburuka, the Director of Strategic Communications and International Relations at the central bank, QZ Asset Management is marketed…

20 Jun

Namibians urged to support local products

info_e12wt4csObserver Money

Martin Endjala Namibians have been urged to buy local products to stimulate the domestic economy of the country which is in dire need of revival and only by buying local products will it be rescued. The Founder of SureFire Marketing Solutions, Lazarus Hishekwa said they saw the need to not only promote local products but also to bring interaction between the product and the consumers. He says he believes that the better people are acquainted with a product, there more they are likely to buy it. Hishekwa spoke to the Windhoek Observer yesterday about the upcoming event in July, that…

16 Jun

Peugeot Opel must scale up production

info_e12wt4csObserver Money

Chamwe Kaira Stakeholders in the Peugeot Opel Assembly Namibia at Walvis Bay hope that the government and French company, PSA Automobiles reach a mutual consensus and iron out their differences by ensuring a viable outcome to ensure the continuation of the operations at the plant. This follows a High Court ruling that the matter be removed from the roll because the joint venture agreement concluded between the parties in clause 20 of the agreement makes provision for the parties to amicably resolve their disputes and if they fail to so resolve their dispute, refer the matter to arbitration. “The parties…

16 Jun

Financing can boost low-income Countries’ resilience

info_e12wt4csObserver MoneyFinancing can boost low-income Countries’ resilience

Low-income countries face multiple economic challenges, including rapid inflation, food insecurity, costly borrowing, and mounting debt, heightened by shocks from the pandemic and Russia’s war in Ukraine. As a result, the IMF has revised down its growth projections for low-income countries, where per capita income growth is falling further behind the rates needed to catch up with advanced economies. This threatens to reverse a decades-long trend of steadily converging living standards. To boost economic growth and put them back on a path to income convergence with advanced economies, we estimate that low-income countries need an additional US$440 billion of financing…

16 Jun

International investors to list in Namibian securities

info_e12wt4csObserver MoneyInternational investors to list in Namibian securities

Chamwe Kaira More international institutional investors are expected to invest in Namibian listed securities without the typical due diligence required on the market, which has historically been a prerequisite to investing in Namibia, the Namibian Stock Exchange (NSX) said this week after it was admitted as a full member of the World Federation of Exchanges (WFE) after being an affiliate member for over a decade. The NSX announced that the WFE Board of Directors, at their meeting on 24 May 2023 in Tokyo, approved the Namibian Stock Exchange’s full membership application. The full membership application process included a series of…

16 Jun

Local contactors awarded 15 road projects

info_e12wt4csObserver MoneyLocal contactors awarded 15 road projects

Chief Executive Officer of the Roads Authority, Conrad Lutombi talks about the current road projects in the country and the involvement of local contractors. Observer Money (OM): Lately there were concerns about the lack of local involvement in road construction projects that are awarded to foreign companies. May you clarify, how involved are local companies in road projects carried out by the Roads Authority? Conrad Lutombi (CL): The concerns about the lack of local involvement in road construction projects are unfounded and not factual. To illustrate, the Roads Authority has embarked on 22 road construction projects in the five years…