Observer Money

Proposed investment bill will create more unemployment
17 Aug

Proposed investment bill will create more unemployment

info_e12wt4csObserver Money,
Niël Terblanché Namibia has amongst the highest unemployment rates in the world and the country’s current credit rating has been set at junk status by international rating agencies because of burdensome over regulation from the government. According to the Economic Policy Research Association (EPRA), Namibia’s economy remains stuck in a very precarious position, despite the economic potential provided by green hydrogen and oil discoveries. “With a suboptimal investment environment Namibia can simply not harness the potential these industries may present. We should not suffer under the illusion that (honest) investors are lining up to invest in Namibia. We must make…
Read More
Venaani claims rural SMEs lack support for business development
16 Aug

Venaani claims rural SMEs lack support for business development

info_e12wt4csObserver Money, ,
Stefanus Nashama Popular Democratic Movement (PDM) Leader, McHenry Venaani, says there is a huge gap existing in the country’s rural areas in accessing to necessary resources for Small and Medium-sized Enterprises (SMEs) development. “Without adequate funding, coaching and mentoring resources, these businesses are hindered from reaching their full potential and driving sustainable economic growth in their communities,” he said. He highlighted that SMEs play a vital role in driving economic growth, creating employment opportunities and fostering local development. “It is for this reason, the government should address the challenges faced by rural SMEs and empower them to contribute effectively to…
Read More
Trade ministry gets IT equipment worth N$ 123 m to boost international markets
16 Aug

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

info_e12wt4csFeatured, Observer Money,
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…
Read More
DBN launches service charter
15 Aug

DBN launches service charter

info_e12wt4csObserver Money, ,
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…
Read More
July month-on-month inflation rate decrease to 4.5%
14 Aug

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

info_e12wt4csFeatured, Observer Money, ,
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…
Read More
Green Hydrogen Programme staffing aims to be highly inclusive
14 Aug

Green Hydrogen Programme staffing aims to be highly inclusive

info_e12wt4csObserver Money, ,
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…
Read More
NWR campaign aimed at boosting domestic and regional tourism
14 Aug

NWR campaign aimed at boosting domestic and regional tourism

info_e12wt4csFeatured, Observer Money, ,
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…
Read More
Cost of living to continue upward trajectory: Simonis Storm
14 Aug

Cost of living to continue upward trajectory: Simonis Storm

info_e12wt4csObserver Money,
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…
Read More
Anticipated surge in gold production
11 Aug

Anticipated surge in gold production

info_e12wt4csObserver Money
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,…
Read More
Namdia chairman to ‘reflect’ after FIC appointment
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…
Read More
Like Us
Follow Us
Subscribe Us
Follow Us
LinkedIn