Observer Money

Chamwe Kaira The Bank of Namibia has disclosed that as of 30 April 2023, commercial banks received a total of 377 875 applications for holiday relief since a rollout in April 2020 to provide relief on property loans that were hard hit by the Covid 19 pandemic. Of this amount, 370 816 applications were approved. Kazembire Zemburuka, Director of Strategic Communications and International Relations told Observer Money that the banking industry is aware of the concerns raised regarding repossessions of houses and other property. He said it is for this reason; commercial banks continue to implement the measures instituted by…

Chamwe Kaira TransNamib Holdings plans to double the transportation of manganese to the port of Lüderitz from the current 15 000 tonnes to 30 000 tonnes. The manganese comes Northern Cape in South Africa for export via Lüderitz. This development follows the reviving of the Aus to Lüderitz railway line after 20 years of dormancy. It is currently moving about 15 000 tonnes of manganese per month between Ariamsvlei and Lüderitz. “This route has become a major revenue-generating source for TransNamib, and we are in the process of upscaling the tonnage of manganese moved to 30 000 tonnes per month,…

Deep Catch Group, the Namibian company, which is engaged in wholesale, distribution and cold storage of perishable foods in Namibia and the Southern African Development Community Region, plans to open a frozen food facility in Zambia. Jared-Dwight Geyser, founder and managing director of Deep Catch said the Zambian cold storage market is set to undergo a significant transformation with the opening of a new 5 500-pallet frozen food facility in September, Freight News reported. Deep Catch, which is a trading and logistics company has identified a gap in the market as there is currently no commercial cold storage facility for…

Chamwe Kaira Paladin Energy Ltd has noted recent commentary by the Namibian government regarding a potential desire for the Namibian Government to own a minority equity interest in mining and petroleum companies operating in Namibia, arising from comments made at a mining and energy Workshop in Swakopmund, Namibia. Paladin Chief Executive, Ian Purdy, Chief Executive Officer, said Paladin has regular ongoing dialogue with all relevant Namibian government ministries as it progresses with the restart of mining activities at the Langer Heinrich Mine. “The company confirms that it is not aware of any imminent proposed Namibian legislative changes that would affect…

Chamwe Kaira Alpha Namibia Industries Renewable Power Limited (ANIREP) has asked the Namibia Stock Exchange for an extension for the publication of audited annual results for the year ended 28 February 2023. The ANIREP Board of Directors told shareholders and the general public this week that the restatement procedures relating to the 2021 and 2022 financial years has delayed the preparation and finalization of the ANIREP’s financial statements for the year ended 28 February 2023. “Consequently, ANIREP will not be in a position to publish its audited financial statements for the year ended 28 February 2023 within 3 months, as…

Chamwe Kaira An adventurous couple, Paul Simkin and his wife Pauline Vaughan bought a Kenyan made car, Mobius 111 and decided to travel from the Kenyan capital, Nairobi through Southern Africa countries including Namibia. Simkin and Vaughan were this week still on their Southern Africa adventure. Their Namibian leg of the of the adventure was described as breathtaking. The couple drove off road in Namibia to experience the roads and the natural beauty of Namibia. “They are currently in Namibia enjoying the off-road experience with Mobius 111. The photos and scenes are breathtaking,” said Mobius Motors, the makers of the…