Observer Money – Page 118

16 Jun

IATA’s Focus Africa to strengthen economic contribution

info_e12wt4csObserver MoneyIATA’s Focus Africa to strengthen economic contribution

The International Air Transport Association’s (IATA) “Focus Africa” drive is gaining momentum, spurred on by the African Civil Aviation Commission (AFCAC) and the Airlines Association of Southern Africa (AASA) and as its newest partners. Focus Africa will strengthen aviation’s contribution to Africa’s economic and social development and improve connectivity, safety and reliability for passengers and shippers. It will see private and public stakeholders deliver measurable progress in six critical areas: safety, infrastructure, connectivity, finance and distribution, sustainability and skills development. “Focus Africa is all about establishing a coalition of partners committing to pool their resources and delivering a set of…

16 Jun

Should Namibia make mentoring certification mandatory for engineers?

info_e12wt4csObserver MoneyShould Namibia make mentoring certification mandatory for engineers?

Roland Innes Since January 2023, a notable development in South Africa is the requirement for mentors involved in the Mine Engineer’s Certificate of Competency to possess certification from an accredited institution. They must also demonstrate the mentorship of at least five engineers in training, among other prerequisites. Although this may be perceived as an additional hurdle in obtaining certification, its potential benefits extend beyond the engineers themselves and can significantly contribute to the improvement of efficiency, productivity, and safety within mining operations. Consequently, the question arises as to whether Namibia will choose to follow South Africa’s lead and implement mandatory…

16 Jun

NamPower in wait and see over debt plan

info_e12wt4csObserver MoneyNamPower in wait and see over debt plan

Chamwe Kaira Power utility, NamPower would not say this week whether it still expects to recover billions owed to it by local authorities across the country by the end of August as initially planned after it agreed to a government intervention plan over the matter. “As indicated in the latest Media Release of 12 June2023, NamPower and the Ministry of Finance are in consultation on the interventions put in place by Government for the settlement of the overdue amounts. Thus, we cannot at this stage provide the amount that we expect to collect,” said Tangeni Kambangula responding to questions by…

16 Jun

Chicken, eggs post double inflation rates

info_e12wt4csObserver Moneychicken, eggs post double inflation rates

Chamwe Kaira Chicken and eggs in South Africa where Namibia imports most of its food needs have consistently posted double digit inflation rates in recent months, research by Simonis Storm Securities have shown. One of South Africa’s largest chicken producers by revenue, Astral Foods Ltd, forecasted about N$45 million diesel expenses per month due to power outages. It cost them N$741 million in the first half to sustain their chickens for longer since load shedding caused delays in their slaughtering and so consumer prices are inflated. “Locally, higher chicken feed and transport prices continue to raise consumer prices from domestically…

16 Jun

Corridor Group eyes Chinese market

info_e12wt4csObserver MoneyCorridor Group eyes Chinese market, The Walvis Bay Corridor Group (WBCG)

Chamwe Kaira The Walvis Bay Corridor Group (WBCG) recently an excellent performance for the 2022/23 financial year. This saw corridor cargo volumes entering and leaving the hinterland increasing by 50% year-on-year, climbing from 1 639 510 tonnes to 2 464 123 tonnes. The corridor uses the ports of Walvis Bay and Lüderitz, going to and coming from the target markets of Angola, Botswana, the Democratic Republic of the Congo (DRC), Malawi, South Africa, Zambia as well as Zimbabwe. The financial year the South African market grew with 42%, from 771 852 tonnes to 1 093 569 tonnes. In addition, DRC…

16 Jun

Oceana’s landing increased by 40% in Namibia

info_e12wt4csObserver MoneyOceana’s landing increased by 40% in Namibia

Chamwe Kaira Oceana Group’s Namibia’s horse mackerel volumes landed improved by 40 % with an increase in both sea days and catch rates. Fishing days in the prior period were impeded by scheduled vessel maintenance, the group said in the interim results for the six months ended 31 March 2023. Oceana said horse mackerel volumes caught in South Africa were 52.1% down on the prior period. The 30.3% lower catch rate was due to La Niña climatic conditions, and the associated higher sea temperatures, extending into 2023 and the Desert Diamond undergoing a planned main engine overhaul. In Namibia, horse…

15 Jun

Namfisa appoints new insurance and medical aid funds general manager

info_e12wt4csNational News, Observer MoneyNamfisa appoints new insurance and medical aid fundsgeneral manager, Namibia Financial Institutions Supervisory Authority

Martin Endjala The Namibia Financial Institutions Supervisory Authority has announced the appointment of Erich Gariseb, as its new Insurance and Medical Aid Funds General Manager as of 1 May 2023. This was announced by Namfisa’s Corporate Communications Manager Victoria Muranda on Tuesday. Gariseb holds a Master of Science degree in Financial Management from Heriot-WattUniversity in Scotland and completed the Senior Leadership Program (SLP) with Duke University’s Fuqua Business School in the USA. He served in various portfolios such as a Health Actuarial & Risk Analyst in Johannesburg, providing technical support to Health Insurance and Medical Aid funds across southern and…

14 Jun

Lithuim mine judgment deferred

info_e12wt4csObserver MoneyLithuim mine judgment deferred

Hertta-Maria Amutenja The delivery of a judgment in the court case between Chinese lithium miner Xinfeng and the Minister of Mines and Energy Tom Alweendo has been postponed to 22 June 2023. The judgment was initially set down for 2 June however, Judge Ramon Maasdorp postponed it. The mining company filed an urgent application with the High Court earlier last month to challenge a decision by the Minister of Mines , to revoke its mining license. Alweendo had revoked Xinfeng’s license, which was issued in September last year, citing misleading, untrue, and incorrect information submitted by the company during the…

14 Jun

Chamber of Mines welcomes cabinet decision

info_e12wt4csObserver MoneyChamber of Mines welcomes cabinet decision, Veston Malango

Niël Terblanché The directive by the Namibian Cabinet that placed a moratorium on the export of unprocessed lithium and other essential minerals without adding any value has the full support of the Chamber of Mines because of the revenue potential. Cabinet approved the prohibition for the export of certain critical minerals such as unprocessed crushed lithium ore, cobalt manganese, graphite, and rare earth elements At the same time, Cabinet approved that smaller quantities of the listed minerals may be allowed for export at the discretion of the Minister of Mines and Energy subject to Cabinet endorsement. “The Chamber welcomes the…

09 Jun

Namibia has not engaged Elon Musk’s Starlink

info_e12wt4csObserver Money

CHAMWE KAIRA Namibia has not engaged Elon Musk’s Starlink on the possibility of offering internet services in the country. This follows news that Mozambique and Zambia have come the first countries in Southern Africa to licence Elon Musk’s Starlink company. Executive Director of the Ministry of Information and Communication Technology, Audrin Mathe said Musk has not approached Namibia over Starlink services. “We have not approached him and he has not approached us,” said Mathe. The Namibian government owns interest in both Telecom Namibia and MTC Namibia. Zambia’s Minister of Technology and Science Minister Felix Mutati said the government has issued…