Observer Money – Page 121

01 Jun

Namibia set to host DFI network forum

info_e12wt4csObserver MoneyDevelopment Bank of Namibia, Environmental Investment Fund of Namibia, Namibia set to host DFI network forum

Niël Terblanché Development Finance Institutions (DFIs) in Namibia are set to host the 2023 Southern African Development Community network forum. The Agribank, Development Bank of Namibia, Environmental Investment Fund of Namibia and the National Housing Enterprise will host the forum under the SADC Development Finance Resource Centre (SADC-DFRC) and it is scheduled to take place from 6-9 June 2023 in Swakopmund. The network forum will be presented under the theme “Balancing DFI developmental mandate with sustainability.” The DFRC is an organization staffed by professionals in strategic areas and employs a collaborative approach which involves the utilization of complementary external technical…

01 Jun

Alweendo asks for more local ownership of valuable resources

info_e12wt4csObserver MoneyAlweendo asks for more local ownership of valuable resources

Niël Terblanché Tom Alweendo, the Minister of Mines and Energy, has requested that a state-funded mineral exploration fund be established to create increased local ownership in the mining sector. The mines Minister was officiating at a parliamentary oversight workshop on maximising the potential of the oil, gas, and mineral sector in Namibia when he made the request. “There is growing criticism from the public about the fact that the exploitation of our mineral and petroleum resources is dominated by foreigners. I wholeheartedly agree with this view, and may I add that the status quo is untenable; it is indefensible. We…

31 May

Gondwana employs first-ever AI consultant

info_e12wt4csObserver MoneyGondwana Collection, Gondwana employs first-ever AI consultant

Niël Terblanché Namibia’s premier tourism operator, Gondwana Collection has made history by taking a giant leap into the future by employing the very first Artificial Intelligence (AI) powered customer care consultant. “GECCO (Gondwana Electronic Customer Care Operative) was developed in response to the growing volume of customer messages. The automated consultant aims to provide prompt and accurate answers to clients' questions, thereby improving overall customer service levels,” Christiaan Jacobie, a member of Gondwana’s Public Relations Department said. He said that GECCO is constantly learning and evolving to provide reliable information. “While it may not be perfect in answering subjective questions,…

31 May

2023 FNB Whisky Festival launched

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Staff Reporter FNB Namibia recently launched its annual Whisky Festival that will be taking place for the first time ever in Ongwediva Oshana region on the 3rd of June and in Windhoek, Khomas region on the 10 June, respectively. The FNB Whisky Festival offers a platform for whisky lovers to participate in a tasting experience to suit their distinctive palates, from the ‘curious’ newcomer to the seasoned connoisseur. Festival guests will learn how to get the most from every dram as Whisky experts guide them through samples from a selection of Whiskies from distilleries around the world. The Festival aims…

30 May

Oil discovery, a blessing or a curse?

info_e12wt4csObserver MoneyOil discovery a blessing or a curse?, Tom Alweendo

Julia Heita Mines and Energy Minister, Tom Alweendo said the answer to the question about whether or not the oil discovery is a blessing or a curse depends on what Namibia decides in the present. “The impact will be what we decide it to be,” Alweendo said. He was addressing a Parliamentary workshop on Maximizing mining and energy potentials, held in Swakopmund on yesterday. “We know of countries where the discovery of oil became a curse and there are also countries where the discovery became a blessing. I would like to believe that we all want our discovery to be…

29 May

Millennium investment holdings appoints new CEO

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Martin Endjala Millenium Investment Holdings has appointed Miguel Hamutenya as the new Chief Executive Officer, succeeding Hafeni Vilho who has been the Managing Director for over three decades. He has stepped down for personal reasons, the group said. An announcement issued on Friday by the group indicates that Hamutenya's appointment is effective from 1 June 2023. Hamutenya holds an Honours Degree in Business Management from the United Business school in Madrid, a Diploma in Business Communications from the Norwegian Business School and a Corporate Finance certificate from the European school of economics in London. He is currently pursuing a Masters…

26 May

Eskom explains winter supply to Namibia……Diamond mines subject to loadsheddding schedule

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CHAMWE KAIRA South Africa’s power company, Eskom which has announced that there is a high risk of elevated stages of loadshedding in winter, this week explained how this will impact on electricity exports to Namibia. Responding to questions by Observer Money, Eskom said its power supply agreement for NamPower is in accordance with National Regulatory Standard (NRS) 048-9. “NRS 048-9 is a code of practice in terms of load reduction practices, system restoration practices and other related matters. During load shedding, NamPower’s load is curtailed as per the requirements of NRS 048-9,” Eskom said. Under the current agreement with NamPower,…

26 May

O&L Europe eyeing real estate, hospitality, finance industry

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Staff Writer O&L Nexentury GmbH, a subsidiary of the Ohlthaver & List Group, recently announced that it was granted the advanced water management permit from the District Administration Office of Karlsruhe, Germany, for the construction and operation of what will be Germany’s largest fully permitted and floating solar photovoltaic (PV) park at this point in time. The solar park will be built on the gravel lake of sand and gravel works company, Philipp & Co KG, in Bad Schönborn, Germany. O&L Nexentury plans to commence construction of the solar park in the third quarter of 2023 with the intention for…

26 May

Otjikoto Mine decreases energy usage

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Chamwe Kaira B2Gold’s Otjikoto Mine near Otavi took strides in 2022 to decreasing its energy usage by connecting to the Namibian grid, which is estimated to reduce annual power generation emissions by more than 30% due to renewable energy sources within the Namibian grid. The company said in its Annual Responsible Mining Report that overall, the proportion of electricity generated from renewable sources increased significantly to 14.3% in 2022 from 9.5% in 2021, for consolidated operations. The Otjikoto Mine is expected to produce between 190,000 and 210,000 ounces of gold in 2023 at cash operating costs of between US$590 and…

26 May

Yango launches new comfort tariff

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Yango, an international service for ordering rides online, has introduced a new Comfort tariff in Namibia. Yango successfully launched its services in Namibia in January this year. The Comfort tariff is an additional tariff on the Yango app which will allow users to order higher-quality cars at an affordable price. “We are happy with our successful launch which took place in Windhoek in the beginning of the year and now we are glad to move forward to launch a new Comfort tariff. We recognize that our valued customers have different needs when they take a ride with us and giving…