Observer Money – Page 117

16 Aug

Trade ministry gets IT equipment worth N$ 123 m to boost international markets

info_e12wt4csFeatured, Observer MoneyTrade has received Information Technology (IT), Trade ministry gets IT equipment worth N$ 123 m to boost international markets

Martin Endjala The Ministry of Industrialisation and Trade has received Information Technology (IT) equipment from the European Union (EU) worth N$ 123 million to help the country boost international markets. The equipment is provided through the Economic Partnership Agreement (EPA) Implementation Plan Programme that exist between Namibia and the EU. They are intended to assist operations of the Directorate of International Trade Programme in the ministry, which aims to enhance Namibia’s access to export markets by improving the Government’s capacity to manage international trade agreements, with a specific focus on trade with the EU. During the handover ceremony which took…

15 Aug

DBN launches service charter

info_e12wt4csObserver MoneyDBN launches service charter, DBN's Chief Executive for Marketing and Corporate Communication, Jerome Mutumba

Martin Endjala THE Development Bank of Namibia (DBN) has announced the official introduction of its complete Service Charter, titled ‘The Gold Standard,’ which is intended to strengthen the Bank's commitment to providing great services and cultivating unrivaled customer satisfaction. DBN's Chief Executive for Marketing and Corporate Communication, Jerome Mutumba, revealed this in a statement last week, saying that the launch is a commitment to excellence and customer satisfaction, and the Service Charter stands as a testament to DBN's core values and commitment to excellence. He underlined the Bank's commitment to clients and stakeholders, emphasising its commitment to provide great service…

14 Aug

July month-on-month inflation rate decrease to 4.5%

info_e12wt4csFeatured, Observer Money12-month average annual inflation rate from August 2022 to July 2023, Alex Shimuafeni, July month-on-month inflation rate decrease to 4.5%

Martin Endjala THE monthly report recently released by Namibia Statistic Agency (NSA) Statistician-General and Chief Executive Officer, Alex Shimuafeni highlighted that the inflation rate performance for the month of July decreased to 4.5 percent compared to 6.8 recorded in the same month last year. Meanwhile, the statistics also revealed that the 12-month average annual inflation rate from August 2022 to July 2023 was estimated at 6.6 percent. The annual inflation rate for housing, water, electricity, gas, and other fuels components, which accounts for 28.4 percent of the consumer basket, registered an increase of 2.7 percent during July 2023 compared to…

14 Aug

Green Hydrogen Programme staffing aims to be highly inclusive

info_e12wt4csObserver MoneyGreen Hydrogen Commissioner, Green Hydrogen Programme staffing aims to be highly inclusive, James Mnyupe

Niël Terblanché THE Green Hydrogen Programme, a breakthrough project poised to transform the country's energy environment, is slated to begin creating the framework of staffing. Namibia’s Green Hydrogen Commissioner, James Mnyupe said they are ready to start with the process of identifying exceptional talent to solidify the envisioned structure. “To turn this visionary programme into a resounding success, we are teaming up with Potentia, a renowned hiring agency specialising in identifying exceptional talent. If you are ready to make a lasting impact, bring your expertise to the forefront, and drive innovation,” he said. Mnyuoe invited professionals, experts, and enthusiasts from…

14 Aug

NWR campaign aimed at boosting domestic and regional tourism

info_e12wt4csFeatured, Observer Moneyf Southern African Development Community (SADC), NWR campaign aimed at boosting domestic and regional tourism, THE Namibia Wildlife Resorts (NWR)

Niël Terblanché THE Namibia Wildlife Resorts (NWR) has launched a drive to promote Namibia as a tourist destination of choice. Nelson Ashipala, the NWR’s communications manager announced that the state-owned enterprise will lower accommodation fees for Namibians and residents of Southern African Development Community (SADC) countries in a bid to increase the number of tourists visiting Namibia. According to Ashipala, the initiative offers up to 50 percent off at select resorts under the management of the NWR. "The main focus is to promote domestic and regional tourism, which is part of NWR's mandate," said Ashipala. He added that the offer…

14 Aug

Cost of living to continue upward trajectory: Simonis Storm

info_e12wt4csObserver MoneyCost of living to continue upward trajectory: Simonis Storm, THE cost of living

Martin Endjala THE cost of living is estimated to continue rising, despite indications that headline inflation rates are steading increasing with small margins as monthly inflation rates for July was recorded at 0.3 percent, up from 0.1 percent in June.This is the 23rd month in a row that monthly inflation has recorded a small increase, rising at an average of 0.5 percent per month since September 2021.According to Simonis Storm Securities Economist, Theo Klein, an overview of the country’s current inflation rate, normalisation of global raw material prices, and decreasing commodity prices are resulting in lower production costs, as evidenced…

11 Aug

Anticipated surge in gold production

info_e12wt4csObserver MoneyAnticipated surge in gold production

Chamwe Kaira Namibia is poised to experience a surge in gold production, driven by the recent revelation from Osino Resources, a Canadian company engaged in gold exploration and development. The company is actively advancing the Twin Hills Gold Project situated in central Namibia. Osino Resources has made a significant discovery of gold mineralization at the Eureka greenfields exploration project, suggesting a promising future for gold extraction in the region. Dave Underwood, Osino’s Vice President for Exploration, remarked, “The Eureka license was initially identified in 2019, and there remain multiple additional targets awaiting exploration. Our outlook for Eureka is highly optimistic,…

11 Aug

Namdia chairman to ‘reflect’ after FIC appointment

info_e12wt4csObserver Money

Chamwe Kaira Bryan Eiseb, the Chairman of Namib Desert Diamonds (NAMDIA), Namibia’s state-owned diamond company, has expressed his need for contemplation regarding his board memberships on Namdia, the Namibia Institute of Pathology (NIP), and Petrofund. This comes after his recent appointment as the Director of the Financial Intelligence Center (FIC), set to commence on January 1, 2024. When asked by Observer Money about the potential impact of his FIC role on his positions in state companies, Eiseb responded, “I will need to carefully consider all these matters. My decisions will always be made with a conscious understanding of what’s best…

11 Aug

Rosalia Martins-Hausiku resigns from Letshego

info_e12wt4csObserver MoneyRosalia Martins-Hausiku resigns from Letshego

Staff Writer Letshego Namibia, the financial services group, has announced the resignation of Rosalia Martins-Hausiku from her position as an independent non-executive director. The decision, driven by personal reasons, was communicated to the company’s board on August 1, 2023, and will take effect on July 31, 2023. This departure extends to the company’s subsidiaries as well. Since joining the board on May 18, 2017, Martins-Hausiku has played a valuable role within the Letshego group. The company expressed gratitude for her significant contributions during her tenure as an independent non-executive director. In a statement on the Namibian Stock Exchange, Letshego conveyed…

11 Aug

Uranium One to respect the law

info_e12wt4csObserver MoneyRussian firm Rosatom has committed Uranium One Group, Uranium One to respect the law

Chamwe Kaira Uranium One, which is the subsidiary of Russian firm Rosatom has committed Uranium One Group has committed to respect the country’s mining and environmental the laws and regulations as it explores for uranium. Uranium One Group is exploring for uranium in the Leonardville area. The company’s spokesperson Riaan van Rooyen the company will respect all regulations. “Uranium One has always, and will always, respect the laws, rules and regulations of Namibia and it will not change,” said Van Rooyen. Talking about opposition to the project by some farmers, environmentalists and politicians, Van Rooyen said the project does not…