Observer Money

Urgent intervention needed to mitigate starvation: Nghituwamata
11 Aug

Urgent intervention needed to mitigate starvation: Nghituwamata

Observer Money,
Niël Terblanché DRASTIC interventions are needed to mitigate the increasing number of people who fall into a situation of severe food insecurity. The Executive Director of the Ministry of Agriculture, Water and Land Reform, Ndiyakupi Nghituwamata in an overview of the situation report on crop prospects, food security and the drought situation the lack of rain is at the heart of the situation where more people are facing starvation. In an assessment of the situation report on crop prospects, food security, and the drought scenario, Ministry of Agriculture, Water, and Land Reform Executive Director, Ndiyakupi Nghituwamata, , stated that the…
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Namibia’s Meatco expects a profitable year
11 Aug

Namibia’s Meatco expects a profitable year

Observer Money
Staff Writer Meatco ascribed the expectation to the high number of cattle sent for slaughter in that country at the moment. Meatco said in a statement that should the trend continue, it was likely that it could to lead to a consolidated recovery year. The company performed favourably in May and June by generating around N$107 million (about R106 million) and N$190 million (R188 million) in revenue respectively. Farmer’s Weekly previously reported on complaints by Namibia’s beef cattle producers about late payments from Meatco, as well as the dire financial state the company found itself in. Meatco in the meanwhile…
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Eiseb appointed Financial Intelligence Centre director
10 Aug

Eiseb appointed Financial Intelligence Centre director

Featured, Observer Money
Staff Writer BRYAN Eiseb has been appointed as the incoming Director of the Financial Intelligence Centre (FIC), with his tenure beginning in January next year. This was revealed by Bank of Namibia (BoN) Governor, Johannes !Gawaxab, who also serves as the Chairperson of the Anti-Money Laundering and Combating Terrorism Council, in a media statement yesterday. The nomination of Eiseb comes at a key juncture, following the 2022 Financial Action Task Force Mutual Evaluation. Namibia is expected to demonstrate its ability to prevent and combat money laundering as well as the financing of terrorist and proliferation funding operations, according to the…
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Govt assessing market appetite to sell remaining MTC shares
09 Aug

Govt assessing market appetite to sell remaining MTC shares

Observer Money
Niël Terblanché ELECTRICITY generated by wind turbines will add to the supply of clean energy already used by Orano Mining Namibia to desalinate seawater at its plant near Wlotzkabaken. InnoSun Energy Holdings, a subsidiary of the French company InnoVent, will start work on the construction of a 10 Mega Watt wind farm at Trekkopje in the Namib Desert. The aim of the project is to supply clean electricity to the Erongo water desalination plant owned by Orano. A year ago, InnoSun signed a ten-year power purchase agreement (PPA) with Orano Mining for five MW of electricity supplied from a solar…
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Green energy drives desalination
09 Aug

Green energy drives desalination

Observer Money,
Niël Terblanché ELECTRICITY generated by wind turbines will add to the supply of clean energy already used by Orano Mining Namibia to desalinate seawater at its plant near Wlotzkabaken. InnoSun Energy Holdings, a subsidiary of the French company InnoVent, will start work on the construction of a 10 Mega Watt wind farm at Trekkopje in the Namib Desert. The aim of the project is to supply clean electricity to the Erongo water desalination plant owned by Orano. A year ago, InnoSun signed a ten-year power purchase agreement (PPA) with Orano Mining for five MW of electricity supplied from a solar…
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More green hydrogen projects on the way
09 Aug

More green hydrogen projects on the way

Observer Money,
Niël Terblanché HYDROGEN fuel cell technology, which generates electricity to power most modes of transportation, is gaining traction, and Namibia, with its abundance of sunshine, is ideally positioned to promote the creation of green hydrogen required for exportation. Work is being done to identify cost-effective ways to use solar or wind energy to create hydrogen via electrolysis. Because the minerals in salty seawater conduct electricity generated by solar or wind energy far better than fresh water, it is perfect for electrolysis. Cleanergy Solutions Namibia intends to become Namibia's first company to manufacture commercial-grade hydrogen from water using renewable energy sources…
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Mnyupe to lead GH2 Implementation Authority
08 Aug

Mnyupe to lead GH2 Implementation Authority

Observer Money,
PRESIDENTIAL Economic Advisor, James Mnyupe, who is also the Green Hydrogen Commissioner, has been assigned to manage the Green Hydrogen (GH2) Implementation Authority Office at the Ministry of Mines and Energy under the GH2 Namibia Program. According to a media statement issued by the Ministry of Mines and Energy on Monday, Mnyupe will manage the program as its Commissioner for five years, reporting directly to the Minister of Mines and Energy. “In this regard, he will be in charge of assembling the necessary team to propel the program’s success in the coming months. Mnyupe will continue to serve as Economic…
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Namibia enacts first visual assets Act
08 Aug

Namibia enacts first visual assets Act

Observer Money,
Stefanus Nashama BANK of Namibia (BoN) says the country has approved laws for the first time to license and regulate virtual asset service providers and initial token offering service providers. This was revealed by BoN Director of Strategic Communications and International Relations, Kazembire Zemburuka yesterday. BoN will administer the Virtual Assets Act, 2023 (Act No. 10 of 2023) (VAA), which went into effect on July 25. “Before the landmark legislation was enacted, Namibia identified virtual assets as a growing threat avenue for generating and laundering proceeds of crime, with the banking sector and members of the general public being the…
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Schlettwein commends O&L for unleashing Agric sector’s economic potential
07 Aug

Schlettwein commends O&L for unleashing Agric sector’s economic potential

Observer Money, ,
Staff Writer THE Ohlthaver & List (O&L) Group, through its Hartlief Group subsidiary, has invested N$ 43 million in the re-opening of the Farmers Meat abattoir in Mariental. The Hartlief Group invested N$3 million re-opening the abattoir and N$40 million as working capital. Farmers Meat’s continued operations in October 2022, were officially marked on August 3, with the abattoir having a ceremony to formally mark the re-opening. Speaking at the ceremony, Agriculture Minister, Calle Schlettwein emphasised the necessity of unleashing the country’s agriculture sector’s economic potential. “We fully recognise the importance of agriculture in addressing food and nutrition security, as…
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Tsumeb’s Fruit and Vegetable market opens
07 Aug

Tsumeb’s Fruit and Vegetable market opens

Observer Money,
Martin Endjala MINISTER of Urban and Rural Development, Erastus Uutoni last Friday officially opened the N$ 2million Fruit and Vegetables Trading Market in Tsumeb. The official opening of the market clears the way for the towns’ vendors to have a place to work from after years of working on the street. The Fruit and Vegetable hub is the product of a collaboration between Tsumeb Municipality and Dundee Precious Metals that began in 2019 in order to provide a safe and secure facility that allows merchants to operate in an inexpensive area. The market will also aid in the control of…
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