Observer Money – Page 125 – Windhoek Observer

25 Oct

MUN wants decent employment and security amidst GH2 opportunities

Observer MoneyMUN wants decent employment and security amidst GH2 opportunities

Martin Eendjala Amidst the European Union-Namibia (EU-NAM) business forum currently underway in Brussels, Belgium, the Mineworkers Union (MUN) wants the much-talked-about Green Hydrogen (GH2) to bring about decent employment and job security. In a recent interview with Windhoek Observer, the union Assistant General Secretary, Paul Situmba, said whatever opportunities will come from the government and investors, they should always prioritise decent employment to avoid precarious employment. “It won't make sense to be excited over job opportunities and employment creation if the employment created is not better than staying home, we need to be excited about employment created that is decent…

23 Oct

Digital fraudsters target financial services, travel and leisure industries

Observer MoneyDigital fraudsters target financial services, travel and leisure industries

Martin Endjala Namibia's financial services providers and travel and leisure industries have reported the highest number of attempts at digital fraud in the first half of 2023, according to an analysis report by TransUnion Africa. These attempted fraud activities occurred between January 1st and June 30th, 2023. Out of all digital transactions made by consumers in Namibia, 1.4 percent were suspected to be fraudulent attempts. Financial services providers and retailers experienced the highest rates of suspected digital fraud attempts, standing at 3.9 percent and 3.5 percent, respectively. The gaming sector, including online sports betting and poker, ranked third with a…

20 Oct

Namibians own 4.3 percent of Shoprite

Observer Money

Namibian investors hold a 4.3 percent stake in Shoprite, according to the 2023 Integrated Report. Shoprite Holdings Limited's international shareholders also include 47.4 percent from the USA, 16.7 percent from Hong Kong, 13.6 percent from the UK, and 5.8 percent from Luxembourg. Additional investors, totaling 13.2 percent, hail from countries such as Belgium, the Netherlands, Saudi Arabia, Switzerland, Ireland, the UAE, Kuwait, and Singapore. The majority of Shoprite's shareholders are from South Africa, the USA, Hong Kong, the UK, and Luxembourg. In the fiscal year ending on July 2, 2023, Shoprite achieved N$215 billion in revenue and N$11.9 billion in…

20 Oct

Population projected at 2.6 million

Observer Money

Chamwe Kaira Namibia Statistics Agency projects that the country’s population may stand at 2.6 million people at the end of the 2023 Population and Housing Census. If the project turns out to be accurate, that will mean the population would have grown by half a million since the last census in 2011, which stood at 2.1 million. Digging into history, using the figures provided by the NSA, the country’s population stood at 228 916 in 1921. The next census in 1936, saw the population increase to 320 457. Ten years later in 1946, the population stood at 362 464. The…

20 Oct

Momentum paid N$300 million in Covid claims

Observer Money

CEO of Momentum Metropolitan Namibia, Sakaria Nghikembua, talks about joining the company in the middle of the Covid-19 pandemic and the lessons the company learnt from the pandemic. He tells Observer Money about the new products launched by his company and the current status of the insurance industry in the country. Observer Money (OM): You were appointed as CEO of Momentum Metropolitan Namibia, just over two years ago, how has the journey been so far? Sakaria Nghikembua (SN): Enlightening, challenging and rewarding. I came in right in the middle of the Covid-19 pandemic. As a business, we learned many new…

20 Oct

Nasria readies weather based livestock insurance

Observer Money

Chamwe Kaira The Namibia Special Risks Insurance Association (Nasria) is getting ready to introduce the innovative Weather Index Based Livestock Insurance (WIBLI). Johannes Alugodhi, the agriculture manager at Nasria said in an interview that Nasria is committed to launch the innovative WIBLI product to the market (Agriculture sector) before the down of 2023. Alugodhi said WIBLI will provide a solution by insuring livestock farmers against droughts and excessive rainfall and floods, which are the most significant climatic change risks challenges facing the agriculture sector. He said with WIBLI, there is no field, farm, grazing ground level assessment required to confirm…

20 Oct

Paladin spends US$66m in Namibia

Observer Money

Chamwe Kaira Paladin Energy, which is in the process of reopening its Langer Heinrich Mine in the Erongo Region has spent US$66.2 million on various services in the country in the current financial year. The company said in the sustainability report that during the 2023 financial year, there was no direct economic value generated from revenues, however economic value distributed and retained, which included operating costs, employee wages and benefits, payments to providers of capital, payments to government by country, and community investments totaled US$66.2 million. Langer Heinrich already produced over 43 million pounds of uranium oxide over ten years…

20 Oct

Grants offered for small businesses

Observer Money

The US African Development Foundation (USADF) and the Ministry of Industrialisation and Trade is inviting proposals from Namibian cooperatives, producer groups, and micro, small, and medium-sized enterprises (MSMEs) for grant financing and local support to develop innovative solutions that enhance their capabilities. These solutions aim to increase food security, add value to local products, boost revenues, create jobs, improve incomes, and foster sustainable market-based growth. The USADF and the trade ministry said they are welcoming proposals from registered cooperatives, producer groups, processors, distributors, and service providers in Namibia who are actively engaged in the following value chain sectors: grain, livestock,…

20 Oct

Schlumberger plans plant for oil rigs

Observer Money

Chamwe Kaira Services Pétroliers Schlumberger (SLB), a globally recognised oilfield services giant listed on the stock exchanges in New York, Paris, and London, is in the early stages of proposing the construction and operation of a Liquid Mud Plant (LMP) at Berth 8, situated within the Port of Walvis Bay, managed by the Namibian Ports Authority (Namport). SLB's extensive operations span across 120 countries, as indicated on its official website. The Liquid Mud Plant is a pivotal component in the management of various drilling fluids utilised in offshore oil rig operations. SLB envisions the LMP as a facility designed to…

20 Oct

Frederick Muller, new driver at Alexforbes

Observer Money

Frederick Muller was recently appointed as the Managing Director of Alexforbes Investments. With two decades of experience within Alexforbes, Muller says he would like to inspire the people working with him, foster close relationships with existing clients and bring innovative solutions and products to the market. Muller talks to Observer Money about his new role and how he hopes to take the company forward. Observer Money (OM): You have assumed the new role as MD at Alexforbes, how would you describe the current business environment in which you operate in? Frederick Muller (FM): I have assumed the role of MD…