Observer Money – Page 148 – Windhoek Observer

28 Jun

SMEs actively contribute to the national economy

Featured, Observer MoneySMEs actively contribute to the national economy

Martin Endjala Namibia should embrace the fact that it is well-positioned to capitalise on the strengths of its Small and Medium Enterprise sector, given the immense contributions of SMEs to economies and societies worldwide. The importance of such enterprises emphasises the power of Micro, Small and Medium-sized (MSMEs) and their transformational potential and the need for inclusive, sustainable support systems. Bank Windhoek’s Head of SME, Financial and Data Analytics, Bianca Janse Van Vuuren made these remarks during the commemoration of MSMEs Day, which is commemorated on the 27th of June worldwide. The United Nations General Assembly designated 27 June as…

26 Jun

Telecom Namibia signs contract to fast-track digital transformation

Observer Money

Niël Terblanché Providing access to reliable, speedy and affordable internet services will form a big portion of the new five-year Integrated Strategic Business Plan (ISBP) launched by Telecom Namibia. The launch on 22 June 2023 of the ISBP signalled the start of Telecom Namibia’s journey to replace obsolete technologies and fast-track its digital transformation initiatives. The ISBP is aimed at four overall goals: stabilising the business, business transformation, digitalisation, and digital transformation. The launch coincided with the ceremonial signing of a contract between Telecom Namibia and Sistemas Avanzados De Tecnologia S.A (SATEC), which will kickstart the digital transformation process with…

23 Jun

Namibian company scores US$150m Malawi fertilizer tender

Observer MoneyNamibian company scores US$150m Malawi fertilizer tender

Chamwe Kaira The Malawian government has awarded a Namibian oil company a US$150 million contract to supply fertilizer to that country, the Malawian media reported this week. The report by malawi24.com said Smallholder Farmers Fertiliser Revolving Fund of Malawi (SFFRFM) signed a contract with Namibian firm Nendongo Commercial Group (NCG) for the supply of the fertiliser. The contract SFFRFM signed with NGC indicates that government is procuring 200 000 metric tonnes (MT) of fertiliser from the Namibian company at the contract price of US$150 million. The contract is split into two consignments of 100 000 MT of NPK (worth US$85…

23 Jun

European ban threatens hunting industry

Observer MoneyEuropean ban threatens hunting industry

Chamwe Kaira The Namibia Professional Hunting Association (NAPHA) is worried that said a hunting ban as proposed in the United Kingdom can potentially have devastating effects on the hunting industry. Kristin Maritz, one of the executives of the Namibia Professional Hunting Association told Observer Money that although the United Kingdom is not a primary market for the Namibian hunting industry, should they decide to pass the ban, animal rights activists in other countries like Germany, Austria and even the USA who are the primary markets for Namibian trophy hunting, might use it as a template to validate their proposals for…

23 Jun

Old Mutual to reduce unemployment through empowerment

Observer Money

Tassius Chigariro was named as Old Mutual Namibia CEO 1 January 2021 replacing Kosmas Egumbo who took up a new position as executive responsible for the Life Insurance and Asset Management companies across the rest of Africa. Chigariro talks to Observer Money about his journey and experiences in Namibia so far. Observer Money (OM): What led you to become the CEO of Old Mutual Namibia, and what motivates you to succeed in this role?Tassius Chigariro (TC): Why did I come to Namibia? The short answer is that my bosses asked me, and I said yes without hesitation. It was an…

23 Jun

Lüderitz masterplan completion expected soon

Observer MoneyLüderitz masterplan completion expected soon

Chamwe Kaira The new master plan for the port of Lüderitz which had been underway for over a year and will be completed in the coming months, Christopher Laing, director of energy and natural resources at Hyphen Hydrogen Energy said this week. The new masterplan forms part of plans to design infrastructure necessary to deliver on Namibia’s green hydrogen production ambitions. The plan is being developed by the Namibian Ports Authority, NamPower, the Port of Rotterdam and Hyphen. This is based on Memorandum of Understanding that was earlier signed between NamPort, the Port of Rotterdam and Hyphen. NamPower and Hyphen…

23 Jun

Losing AGOA status could see SA losing N$44b

Observer MoneyLosing AGOA status could see SA losing N$44b

Chamwe Kaira …. Impact on Namibia to be minimal …. Weakened rand would affect Namibian dollar …. Weak rand could pressure interest rates The biggest risk that South Africa faces with over its neutral stance regarding the Russia/Ukaraine conflict is possibly being kicked out of the AGOA pact and having its exporters lose preferential access to the US market. “This would affect around N$44 billion of our export revenue, making up almost 25% of the total exports to the US,” economist at Stanlib South Africa, Ndivhuho Netshitenzhe told Observer Money. Netshitenzhe said while this doesn’t mean that South Africa won’t…

23 Jun

IATA to improve aviation safety in Africa

Observer MoneyIATA to improve aviation safety in Africa

The International Air Transport Association (IATA) is launching the Collaborative Aviation Safety Improvement Program (CASIP) to reduce the accident and serious incident rate across Africa as part of the Focus Africa initiative. Launch partners in the program are: The International Civil Aviation Organization (ICAO), The African Civil Aviation Commission (AFCAC), The US Federal Aviation Administration (FAA), Boeing, The Airlines Association of Southern Africa (AASA). Together, the CASIP partners will prioritise the most pressing safety concerns on the continent and rally the resources needed to address them. The benefits of improving aviation safety in Africa will be spread across the economies…

21 Jun

MoU signifies another milestone in Namibia’s hydrogen future

Featured, Observer Money

Niël Terblanché By becoming signatories to a Memorandum of Understanding (MoU) between the Namibian Government and Dutch partners the country has taken another significant step towards realising the potential of the transformative green hydrogen sector for the benefit of all Namibians as envisaged in the Harambee Prosperity Plan II (HPPll). The Ministry of Finance and Public Enterprises announced the conclusion of agreements for the establishment and management of a special vessel, NH2 Fund Managers, which will expedite the government’s option to take up a 24 percent interest in the first awarded project under development by Hyphen Hydrogen Energy. The signing…

21 Jun

Bank Windhoek collaborates with Pupkewitz Haval brand

Observer Money

Martin Endjala Namibia’s 2023 vehicle sales reports indicate that passenger and commercial vehicle segments have been recording positive year-on-year growth for ten consecutive months, with rising interest rates seemingly doing little to dampen demand. To further assist the motoring industry’s drive to bring vehicles to customers, Bank Windhoek’s Vehicle and Asset Finance (VAF) Branch, in collaboration with Pupkewitz Haval, recently hosted a mini outdoor motor show in Windhoek. VAF’s Manager of Corporate and Commercial Business, Riaan Gouws, said the initiative is aimed at creating awareness and strengthening relationships with the Pupkewitz Haval brand in bringing services out of the motor…