Observer Money

African exports reached N$4.9 billion in June
04 Aug

African exports reached N$4.9 billion in June

Observer Money
Namibia exported goods worth N$4.9 billion to African markets in June. At the same time, the country sourced goods from the rest of Africa worth N$4.9 billion, the Namibia Statistic Agency said. In terms of regional composition, the Southern African Customs Union (SACU) emerged as the largest export market during the month of June, contributing 38.8 percent to total exports. The Organisation for Economic Co-operation and Development (OECD) ranked second with a market share of 23.7 percent while the European Union and the South African Development Community excluding SACU accounted for 20.7 percent and 17 percent, respectively. Common Market for…
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Lab diamonds biggest threat to industry
04 Aug

Lab diamonds biggest threat to industry

Observer Money
CHAMWE KAIRA Lab diamonds are the biggest threat facing the Namibian diamond industry, Namib Desert Diamonds (Namdia)’s Lelly Usiku, Executive: Market Development, Sales and Brand has disclosed. Usiku said lab diamonds or synthetic diamonds cost about 60 to 80 less than natural diamonds like the ones produced by Namibia. She noted that synthetic diamonds are growing in popularity in China, which is the biggest retail market in the world after the United States. The other factors threatening the industry are the Russia-Ukraine Crisis, which is affecting the production at Russian producer, Alrosa. The other factors threatening the stability of the…
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CRAN 2022 Revenue Drops by 51.6%
03 Aug

CRAN 2022 Revenue Drops by 51.6%

Observer Money
Staff Writer The Communications Regulatory Authority of Namibia (Cran) recorded a total revenue of N$36.3 million which was N$38.7 million (51.6 percent) shy of the N$ 75 million target. According to Cran’s 2022 annual report, this variance is a result of the timing delays associated with the date when the revised regulatory levy regulations came into effect and the additional amount of time, after the licensee’s financial year end date, that Licensees are allowed to file their audited financial statements with the Authority. Cran used audited financial statements of licensees to determine the revenue base on which to calculate regulatory…
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Hartlief and NAFAU advances with substantive agreement
03 Aug

Hartlief and NAFAU advances with substantive agreement

Observer Money, ,
Staff Writer Hartief, a subsidiary of the Ohlthaver & List (O&L) Group, inked a substantive agreement with the Namibian Food and Allied Workers Union (NAFAU) which includes a 5.2 percent rise in basic pay. The substantive agreement is valid from 1 July 2023 to 30 June 2024 and will apply to all Hartlief Continental Meat Products Bargaining Unit employees. Apart from the 5.2 percent rise in basic pay, the parties agreed to an increases in housing and transportation allowances for all Bargaining Unit employees. Speaking att the deal's signing, Hartlief Managing Director (MD), Gunther Ling, expressed gratitude to all parties…
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NASRIA declares N$10m dividend
03 Aug

NASRIA declares N$10m dividend

Featured, National News, Observer Money,
Martin Endjala Namibia Special Risk Insurance Association Limited (NASRIA) has declared a dividend of N$ 10 million to government for the fiscal year 2023. NASRIA board chairperson, Adrianus Vugs made the announcement on Wednesday during a dividend handover ceremony. He stated that, despite the country’s economic headwinds, the recent dividend payment demonstrates NASRIA’s resilience and ability to respond to shifting dynamics in the financial services sector and the fiscus at large. In addition, the Insurance Company declared dividends of N$ 6.8 million in 2020, N$ 10 million in 2021, and N$ 7.7 million in 2022. NASRIA is Namibia’s only special…
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Old Mutual Foundation launches Chair and Desk initiative
02 Aug

Old Mutual Foundation launches Chair and Desk initiative

Observer Money,
Staff Reporter The Old Mutual Foundation (OMF) has launched the N$500 000 Chair and Desk (C&D) Initiative for Namibian Government Schools and has called on local entrepreneurs to aid in the project The project was developed to meet the critical need for useable chairs and tables in Namibia's 14 regions' public schools. Since 2012, the Old Mutual Foundation has been a prominent sponsor in the education sector, and this new program builds on previous efforts. The C&D Initiative intends to offer new chairs and desks to schools in desperate need, as well as repair any fixable damaged chairs and desks.…
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Namibia suffers over N$1 billion trade deficit
02 Aug

Namibia suffers over N$1 billion trade deficit

Featured, Observer Money, , ,
Hertta-Maria Amutenja Namibia suffered a trade deficit of N$1.4 billion in June after importing goods worth N$10.1 billion while only managing to export goods valued at N$8.7 billion. This was revealed by National Statistics Agency (NSA) Statistician General and Chief Executive Officer, Alex Shimuafeni.According to Shimuafeni, Namibia’s export earnings in June decreased by 5.9 percent from N$9.2 billion to N$8.7 billion recorded last month. "The country's trade balance stood at a deficit of N$1.4 billion in June, compared to a trade deficit of N$2.8 billion and N$129 million in May 2023 and June2022, respectively," he said. He went on to…
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Discovering Nedbank’s Solar financing options for homeowners
02 Aug

Discovering Nedbank’s Solar financing options for homeowners

Observer Money, ,
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…
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Capricorn Group CIO awarded Southern African financial technology honour
02 Aug

Capricorn Group CIO awarded Southern African financial technology honour

Observer Money,
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.…
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Nedbank Namibia opens first in-store agency in Mariental
01 Aug

Nedbank Namibia opens first in-store agency in Mariental

Featured, Observer Money
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…
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