Observer Money – Page 124

02 Aug

Discovering Nedbank’s Solar financing options for homeowners

info_e12wt4csObserver MoneyDiscovering Nedbank's Solar financing options for homeowners, Nedbank's Solar Financing Solution, Von Wielligh

Staff Writter AS the world shifts to renewable energy in the wake of climate change and escalating living costs, solar power is emerging as a sustainable, cost-effective solution. In Namibia, solar power is more than an environmental initiative—it's an investment in a financially viable future, particularly for homeowners. The initial investment in solar power, however, can be daunting. A typical residential solar system in Windhoek can range from N$20 000 to N$100 000; a cost that often discourages homeowners. Fortunately, Nedbank's Solar Financing Solution for Home Loans has provided a pathway to renewable energy that addresses these financial constraints. Acting…

02 Aug

Capricorn Group CIO awarded Southern African financial technology honour

info_e12wt4csObserver MoneyCapricorn Group CIO awarded Southern African financial technology honour, Dr Etienne Slabbert

Staff Writer CAPRICORN Group Chief Information Officer (CIO), Dr Etienne Slabbert has been named 2023 CIO of the Year for his exceptional leadership, visionary mindset, and relentless pursuit of excellence in the financial technology realm of Southern Africa. The prize was presented at the 19th edition of the Finnovex Southern Africa 2023 Awards, which took place on July 25 in Johannesburg, South Africa. Finnovex generates thought leadership on cutting-edge issues and solutions, while also recognising individuals and businesses that are reshaping the financial ecosystem and continuously displaying excellent performance. The CIO of the Year 2023 award is based on Dr.…

01 Aug

Nedbank Namibia opens first in-store agency in Mariental

info_e12wt4csFeatured, Observer MoneyNedbank Namibia opens first in-store agency in Mariental

Staff WriterNEDBANK Namibia officially opened doors to their new in-store agency in Mariental.The agency, which is based at the Woermann & Brock Supermarket, will see four Nedbank staff offer sales and enquiries services to the Mariental populace.The official opening was graced by Mariental Mayor, Cherien Kock, and members of the Nedbank Namibia leadership, which included Central, Coastal and Southern regions Area Manager, Nicholas Christians, Head of Personal Loans, Erastus Haihambo, Nedbank Namibia Head of Marketing and Communications, Gernot de Klerk, and members of the Mariental business community.The Nedbank team officiated the event, and officially opened the doors to the agency…

01 Aug

Russians plan N$9 billion uranium mine

info_e12wt4csObserver MoneyRussians plan N$9 billion uranium mine

Staff Writer Russian state-owned atomic energy firm, Rosatom plans to begin mining uranium in Namibia by 2029, with an initial investment of roughly N$9 billion. The firm, through its worldwide mining company Uranium One, intends to finish the prospecting and exploring phase of the Wings project by 2026. Exploration began in 2010, with geological studies completed between 2018 and 2021 establishing the presence of a substantial uranium deposit of the sandstone type with a 25 year support. The project's annual output is estimated to be 3,000 metric tons of uranium and Uranium One will use the In Situ Leaching (ISL)…

28 Jul

Namdia to pay N$300m dividend

info_e12wt4csFeatured, Observer MoneyNamdia to pay N$300m dividend

CHAMWE KAIRA Namib Desert Diamonds (Pty) Ltd or Namdia is expected to pay N$300 million in dividends to the government in the current financial year, the company revealed this during a presentation on Monday. In 2021/22, the company declared a dividend of N$150 million compared to N$40 million the previous year. In the 2019/20 financial year, Namdia declared a profit of N$80 million compared to N$50 million in 2018/2019. The company has been growing its profit after tax from N$61 million in 2016/2017 to N$409 million in 2022/2023 in 2022/2023. The amount of carats sold by the company has increased…

28 Jul

BoN expected to follow SA rate decision

info_e12wt4csObserver MoneyBoN expected to follow SA rate decision, Lesetja Kganyago, South African Reserve Bank

CHAMWE KAIRA Simonis Storm Securities expects the Bank of Namibia to keep the repo rate unchanged or will hike it by 25 basis points at its next monetary committee meeting on 16 August. Last week, South African Reserve Bank decided to keep the repurchase rate at its current level of 8.25% per year. The Bank of Namibia on 14 June increased the repo rate by 50 basis points to 7.75 percent “Initially we had expected the South African Reserve Bank to hike by 25 basis points, but SARB has aligned their decision with the Fed, and was further supported by…

28 Jul

NamRA’s ‘fishy’ tax assessment disputed…. Fishing industry says it contributes N$1,32 billion in taxes

info_e12wt4csFeatured, Observer Money32 billion in taxes, NamRA’s ‘fishy’ tax assessment disputed…. Fishing industry says it contributes N$1

The Confederation of Namibian Fishing Associations has said according to its estimates the fishing industry contributed N$1,32 billion dollars in taxes and levy contributions to the state coffers in its last assessment of the fishing industry. Namibia Revenue Agency (NamRA) executives expressed concern on what was said to be the minimal contribution of the fishing sector in taxes. Despite its massive size, NamRA officials said the fishing industry’s contribution to tax revenue was one of the lowest of major industries. Figures presented by NamRA Commissioner, Sam Shivute during a meeting with President Hage Geingob showed that compared to other key…

28 Jul

FlyNamibia looking to partner foreign carriers…Plans to link Hosea Kutako with Maun, Gaborone and Durban

info_e12wt4csObserver MoneyFlyNamibia looking to partner foreign carriers…Plans to link Hosea Kutako with Maun, Gaborone and Durban

Andre Compion, the CEO of FlyNamibia talks to Observer Money about the progress the airline is making on the market. He also talks about the process to join IATA and plans to fly to Maun, Gaborone and Durban. CHAMWE KAIRA (CK): Describe the current business status of FlyNamibia, how is the company performing at the moment? ANDRE COMPION (AC): FlyNamibia is currently performing well. Over the past year, we have dedicated significant efforts to obtain our IOSA certification, which will allow us to become an IATA member. This week, we are excited to be joining the Global Distribution System (GDS),…

28 Jul

Diamonds fetch higher outside De Beers

info_e12wt4csObserver MoneyDiamonds fetch higher outside De Beers, Namib Desert Diamonds Pty Ltd (Namdia)

CHAMWE KAIRA The government of Namibia will be in a position to negotiate for an improved sales agreement with De Beers using Namib Desert Diamonds Pty Ltd (Namdia) price recovery system that saw Namibian diamonds sold outside the De Beers system getting as much as more than 12% compared to De Beers’ diamond prices. Namdia is a wholly owned government diamond trading company that exclusively sells diamonds outside the De Beers system. The company is entitled to 15 percent of diamonds processed by the Namibian Diamond Trading company consisting of 22.6 percent above 2 carats, 76.2 percent below 2 carats…

28 Jul

Uranium earnings surged to N$3.5 billion

info_e12wt4csObserver Moneystronger uranium export, Uranium earnings surged to N$3.5 billion

Uranium export earnings surged to N$3.5 billion for the first quarter of 2023 from N$1 billion recorded in the same period in 2022. “This could be attributed to a stronger uranium export volume and the depreciation of the domestic currency. The higher export volumes were triggered by a low base effect, as shipping vessels were unavailable during the corresponding quarter of 2022,” said research firm, High Economic Intelligence. Namibia is one of the world’s top producers of uranium ranking second only to Kazakhstan. The country produces around 10% of the world’s global uranium production mainly from its large uranium mines…