Observer Money

Standard Bank Namibia Holdings Limited has announced to its shareholders the appointment of Isac Tjombonde as the board chairman. The group said the appointment is with effect from 1 April 2024. Tjombonde currently holds the position of independent non-executive director in the Company. “Regulatory approval for the appointment was obtained effective 5 February 2024. Herbert Maier will stay on the board as an Independent non-executive director and will retire from the board of directors of SBN Holdings Limited and Standard Bank Namibia with effect 23 April 2024,” the group told shareholders. Furthermore, the group said Siphiwe Themba Bruce Madonsela has…

Namibia Airports Company (NAC) is finalising the formal transfer of land at Rundu and Katima Mulilo Airports. The company further plans to expand the infrastructure, including construction of new terminal buildings at Lüderitz Airport, Rundu and Katima Mulilo. The NAC has celebrated a number of significant events over the 2022/2023 financial year, two of which was that the NAC hasbeen issued with substantive aerodrome certificates valid for the next two (2) years, in respect of Hosea Kutako International Airport (HKIA) and the Walvis Bay International Airport. The NAC said in a report that it is committed to improve its airport…

CHAMWE KAIRA The Ohangwena II, part of the Ohangwena Aquifer System in Namibia, is nearing development stages, as indicated by NamWater's recent release of the Environmental and Social Impact Assessment (ESIA) and Environmental Clearance Certificate (ECC) reports. The Ohangwena Aquifer System, boasting a total groundwater volume of approximately 300 million cubic meters, stands as a significant water source, representing 60% of Namibia's total water resources. The project, funded by the African Development Bank, is considered a medium to long-term endeavor, with no immediate plans for decommissioning. The ESIA study acknowledges that decommissioning will be addressed in the future, necessitating a…

SAKARIA NGHIKEMBUA We mourn the loss of an outstanding leader and a distinguished son of Namibia. His Excellency, Dr Hage G. Geingob, has left indelible footprints on the face of his beloved country, Namibia. Characteristically jovial and larger-than-life, President Geingob was a man of high moral and ethical principles. He believed in doing what is right for his country and people. He believed in inclusivity. He believed in, and advocated for, transparent leadership, independent and functioning organs of state,and media freedom, amongst other principles. He pronounced himself unequivocally on his principles and core beliefs. He pushed for the implementation of…

CHAMWE KAIRA Economic and investments polices that were championed by the late President Hage Geingob like the Harambee Prosperity Plan and the Green Hydrogen Initiative will likely continue under new President Nangolo Mbumba, a leading economist said this week. Economic analyst, Mally Likukela told Observer Money this week that these policies took many years to bring to life. “With a lot of investments in terms of money and time have gone into crafting and developing them, so I don't think time will be sufficient enough for him to change the trajectory or direction that Dr Hage Geingob left them. Besides,…