Observer Money – Page 126

18 Feb

FirstRand Namibia CFO rumoured to join SOE Department

info_e12wt4csNational News, Observer MoneyFirstRand Namibia CFO rumoured to join SOE Department

Martin Endjala The Chief Financial Officer of FirstRand Namibia, Oscar Capelao has resigned, the company announced. Capelao’s resignation is effective end of April this year. The FirstRand Namibia board said it will commence with the process of appointing Capelao’s successor, with a further announcement to be made in due course. Capelao says change is a model he understands well, that he is excited to watch the group continue to help build a globally competitive Namibia. “I am a FirstRand citizen through and through, a lifelong customer of the bank of the changeable, and in whatever role comes next, supporting the…

30 Jan

RMB Namibia wins Best Trade Finance Bank in Namibia

info_e12wt4csObserver MoneyPhilip Chapman, RMB Namibia wins Best Trade Finance Bank in Namibia

Staff Writer RMB Namibia was recently named Best Trade Finance Bank in Namibia 2023 at the 23rd annual World's Best Trade Finance Providers Awards by Global Finance magazine. The awards recognize consistent growth in the trade sector over the past year, which was fueled by increased automation and innovation as a result of the pandemic. This year's winners were recognized for outperforming their competitors in terms of product and service offerings. RMB Namibia CEO Philip Chapman stated that the award demonstrates their commitment to serving the Namibian people by being their preferred banking partner and providing innovative financial solutions. The…

30 Jan

Old Mutual insurance covers agriculture.

info_e12wt4csObserver MoneyGert Grobler Old Mutual, Old Mutual insurance covers agriculture

Staff Writer One of Namibia’s life insurance and financial services group Old Mutual, offers insurance tailored to an individual farmer's needs, offering Agrisure needs. According to the general manager of commercial lines, Gert Grobler Old Mutual understands the challenges involved with protecting agricultural risks and the impact that unforeseen events can have on the long-termsustainability of an agricultural producer’s business. "Agrisure offers a holistic risk protection solution tailored to an individual farmer's needs. Agrisure is backed by service excellence and supported via a national branch network, with sales offices throughout the country. Through Agrisure your farming business will be protected…

Andrada Mining contributes over N$143<br>million to the Namibian economy in 2022

30 Jan

Andrada Mining contributes over N$143
million to the Namibian economy in 2022

info_e12wt4csObserver MoneyAndrada Mining contributes over N$143 million to the Namibian economy in 2022

Tujoromajo Kasuto During the fiscal year 2022, Andrada Mining, formerly known as AfriTin Mining, contributed over N$143 million to the Namibian economy and funded over N$185,000 in community projects. The mine notes in its Sustainability Report for the 2022 fiscal year, released this week, that total procurement spend for the reporting period exceeded N$294m, with N$143m, or 49 percent, spent across more than 250 Namibian businesses. Besides that the report notes that, “as our business grows and develops, we fully intend to bring our Namibian suppliers along with us.” “To the extent practicable our supply chain prioritises procurement from local…

22 Dec

Angolan Ministry of Transport and Consortium Trafigura, Vecturis, and Mota-Engil sign Concession Contract for Lobito Corridor Management

info_e12wt4csObserver Money

The Angolan Executive, through the Ministry of Transport, and the consortium consisting of Trafigura Group Pte Ltd, Vecturis, SA, and Mota-Engil, Engenharia e Construção África, SA, signed on November 4th, in Luanda, the concession contract for the Lobito Corridor. Over the next 30 years, this consortium will take over the operation, operation, and maintenance of rail freight transport and all existing infrastructure along the Corridor. The value of the contract signature award for this concession is US$100 million, which is in line with the other concessions in the Angolan transport sector. It has made it possible to differentiate competitors based…

31 Oct

Reviving the Elizabeth Bay Mine

info_e12wt4csObserver MoneyPaul Lombard, Reviving the Elizabeth Bay Mine, Sperrgebiet Diamond Mining (Pty) Ltd

CHAMWE KAIRA Sperrgebiet Diamond Mining (Pty) Ltd, which plans to start mining at the Elizabeth Mine near Luderitz in this fourth quarter, plans an initial production of 240 000 carats per annum before reaching about 360 000 carats, General Manager Paul Lombard said in an interview. The Elizabeth Bay Mine was formerly owned by Namdeb Holdings. “We’ll be constructing an Infield Pre-Treatment Facility by mid-next year which will aim at removing the majority of fine non-diamond bearing material and clay from the ore to be presented to the Main Treatment Plant, this will not only improve the throughput and concentration…

30 Oct

Development Bank to resume Good Business Awards

info_e12wt4csObserver MoneyDevelopment Bank of Namibia (DBN), Development Bank to resume Good Business Awards, Dr. Nangolo Mbumba, Large Enterprise and SME

Development Bank of Namibia (DBN) Head of Marketing and Corporate Communication, Jerome Mutumba, has announced the resumption of the Good Business Awards on 3 November 2022, with finalists and winners to be announced on the Bank’s Facebook and LinkedIn pages as well as on its website during the afternoon of 4 November. Results will also be made available to the press. The Awards, last held in 2019, were suspended for two years due to Covid-19. Mutumba said this year’s winners will come from the tourism and hospitality sector, private education, land servicing, manufacturing and the transport and logistics sector. Talking…

30 Oct

Telecom Namibia to invest N$2.3 billion in modernising network

info_e12wt4csNational News, Observer MoneyEquiano cable, Telecom Namibia to invest N$2.3 billion in modernising network

CHAMWE KAIRA Telecom Namibia which is marking 30 years in business this year plans to invest over N$2.3 billion in the next five plus years to modernize its national network both fixed and mobile, starting from its national backbone to the core network and the access technologies, chief executive officer, Stanley Shanapinda revealed in an interview. Shanapinda said the first investment of about US$5 million has been invested in the co-landing of the Google Equiano submarine cable, in partnership with the private company Paratus, also allowing for the sharing of infrastructure as envisaged under HPPII. The Equiano cable landed in…

26 Oct

AgriBank stops cash payments

info_e12wt4csNational News, Observer MoneyAgriBank stops cash payments, Agricultural Bank of Namibia (AgriBank), Know Your Customer (KYC)

Obrein Simasiku The Agricultural Bank of Namibia (AgriBank) will no longer accept cash as a form of payment starting from December. This decision is to curb money laundering in the country, said the public relations officer of the bank, Fillemon Nangonya in a statement. ‘’This change is an effort by Agribank to further contribute to the combating of money laundering in the country.’’ Money laundering is regulated in terms of the Financial Intelligence Act, with specific reference to Know Your Customer (KYC) requirements. ‘’This requires stringent verification of the source of cash funds and reporting thereon,” Nangonya emphasised. The measure…

21 Oct

Namibia shines at Africa Energy Week

info_e12wt4csNational News, Observer MoneyNamibia Investment Promotion and Development Board (NIPDB), Namibia shines at Africa Energy Week, Nangula Uaan, National Petroleum Corporation of Namibia (Namcor)

O’brien Simasiku Namibia is cherished by many countries over its recent oil discoveries in the off-shore coast including its touted development of the green hydrogen project, which will make it feature among leading energy industry players. This was evident at last week’s Invest in Namibia Country Spotlight event, organized at the African Energy Week 2022, in Cape Town where a delegation consisting of the Ministry of Mines and Energy, Namibia Investment Promotion and Development Board (NIPDB) and the National Petroleum Corporation of Namibia (NAMCOR) made breakthrough presentations to market the country. According to Africa Energy Group with major oil and…