Observer Money

Rosalia Martins-Hausiku resigns from Letshego
11 Aug

Rosalia Martins-Hausiku resigns from Letshego

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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…
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Uranium One to respect the law
11 Aug

Uranium One to respect the law

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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…
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Telecom experiencing poor connectivity amidst fiber optic break
11 Aug

Telecom experiencing poor connectivity amidst fiber optic break

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Chamwe Kaira Kunene Grapes and Citrus Et Al (Proprietary) Limited is planning to grow fruits such as grapes, citrus and avocado at a plantation in the northern western part of Namibia. The fruits are planned to be grown on 670 hectares of land in Otjomaungu village in the Epupa Constituency that the company has applied for. According to information obtained by Observer Money, the agricultural activities will be conducted concurrently across the applied plot and is expected to be conducted throughout the two plot areas. The company is now planning to conduct an environmental management assessment under the Environmental Management…
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Communication companies only share passive infrastructure… but disputes arise from resistance to sharing active infrastructure
11 Aug

Communication companies only share passive infrastructure… but disputes arise from resistance to sharing active infrastructure

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Chamwe Kaira The Communications Regulatory Authority of Namibia (CRAN) has reported that dominant Licensees have shown a positive reception towards the sharing of passive infrastructure, and no conflicts have arisen in relation to this practice. CRAN introduced regulations regarding infrastructure sharing in October 2016, aiming to establish a framework that promotes fair and non-exclusive sharing of both passive and active telecommunications infrastructure by dominant licensees. CRAN emphasized the significance of active infrastructure sharing in facilitating open-access collaboration, leading to cost reductions that ultimately benefit consumers. This collaboration involves licensees utilizing the radio network of other operators, such as national roaming…
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100MW solar plant for //Karas region
11 Aug

100MW solar plant for //Karas region

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Chamwe Kaira Witputz Energy (Pty) Limited, a local company is seeking to become an active renewable energy provider in Namibia and is planning to set up a 100MW solar plant in the //Karas region. The company has already applied for about 150 hectares of land just west of Witputz village in the //Kharas Region, according to documents made available to Observer Money. Witputz Energy says it is planning to become a major player in the renewable energy sector in the south western part of Namibia. The solar power plant construction activities will be conducted concurrently across the proposed area. The…
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Urgent intervention needed to mitigate starvation: Nghituwamata
11 Aug

Urgent intervention needed to mitigate starvation: Nghituwamata

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Niël Terblanché DRASTIC interventions are needed to mitigate the increasing number of people who fall into a situation of severe food insecurity. The Executive Director of the Ministry of Agriculture, Water and Land Reform, Ndiyakupi Nghituwamata in an overview of the situation report on crop prospects, food security and the drought situation the lack of rain is at the heart of the situation where more people are facing starvation. In an assessment of the situation report on crop prospects, food security, and the drought scenario, Ministry of Agriculture, Water, and Land Reform Executive Director, Ndiyakupi Nghituwamata, , stated that the…
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Namibia’s Meatco expects a profitable year
11 Aug

Namibia’s Meatco expects a profitable year

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Staff Writer Meatco ascribed the expectation to the high number of cattle sent for slaughter in that country at the moment. Meatco said in a statement that should the trend continue, it was likely that it could to lead to a consolidated recovery year. The company performed favourably in May and June by generating around N$107 million (about R106 million) and N$190 million (R188 million) in revenue respectively. Farmer’s Weekly previously reported on complaints by Namibia’s beef cattle producers about late payments from Meatco, as well as the dire financial state the company found itself in. Meatco in the meanwhile…
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Eiseb appointed Financial Intelligence Centre director
10 Aug

Eiseb appointed Financial Intelligence Centre director

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Staff Writer BRYAN Eiseb has been appointed as the incoming Director of the Financial Intelligence Centre (FIC), with his tenure beginning in January next year. This was revealed by Bank of Namibia (BoN) Governor, Johannes !Gawaxab, who also serves as the Chairperson of the Anti-Money Laundering and Combating Terrorism Council, in a media statement yesterday. The nomination of Eiseb comes at a key juncture, following the 2022 Financial Action Task Force Mutual Evaluation. Namibia is expected to demonstrate its ability to prevent and combat money laundering as well as the financing of terrorist and proliferation funding operations, according to the…
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Govt assessing market appetite to sell remaining MTC shares
09 Aug

Govt assessing market appetite to sell remaining MTC shares

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Niël Terblanché ELECTRICITY generated by wind turbines will add to the supply of clean energy already used by Orano Mining Namibia to desalinate seawater at its plant near Wlotzkabaken. InnoSun Energy Holdings, a subsidiary of the French company InnoVent, will start work on the construction of a 10 Mega Watt wind farm at Trekkopje in the Namib Desert. The aim of the project is to supply clean electricity to the Erongo water desalination plant owned by Orano. A year ago, InnoSun signed a ten-year power purchase agreement (PPA) with Orano Mining for five MW of electricity supplied from a solar…
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Green energy drives desalination
09 Aug

Green energy drives desalination

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Niël Terblanché ELECTRICITY generated by wind turbines will add to the supply of clean energy already used by Orano Mining Namibia to desalinate seawater at its plant near Wlotzkabaken. InnoSun Energy Holdings, a subsidiary of the French company InnoVent, will start work on the construction of a 10 Mega Watt wind farm at Trekkopje in the Namib Desert. The aim of the project is to supply clean electricity to the Erongo water desalination plant owned by Orano. A year ago, InnoSun signed a ten-year power purchase agreement (PPA) with Orano Mining for five MW of electricity supplied from a solar…
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