Observer Money – Page 152 – Windhoek Observer

02 Jun

Paladin not aware of imminent proposed legislative changes

Observer Money

Chamwe Kaira Paladin Energy Ltd has noted recent commentary by the Namibian government regarding a potential desire for the Namibian Government to own a minority equity interest in mining and petroleum companies operating in Namibia, arising from comments made at a mining and energy Workshop in Swakopmund, Namibia. Paladin Chief Executive, Ian Purdy, Chief Executive Officer, said Paladin has regular ongoing dialogue with all relevant Namibian government ministries as it progresses with the restart of mining activities at the Langer Heinrich Mine. “The company confirms that it is not aware of any imminent proposed Namibian legislative changes that would affect…

02 Jun

Stimulus Investments declares N$3.5m dividend

Observer Money, Uncategorised

Chamwe Kaira Stimulus Investments Limited has declared N$3.5 million (2022: N$ 9.3 million) as a final dividend to the preference shareholders. This translates into a dividend of N$ 0.76 (2022: N$2) per preference share based on 4,650,786 preference shares in issue. “The preference dividend amount represents the total realised cash returns of Stimulus, after adjusting for fair value gains, for the financial year ended 28 February 2023,” in financial results for the year ended 28 February. Stimulus total assets under management amounted to N$651.1 million (N$648.8 million) which included the sale of investments to the value of N$75.2 million during…

02 Jun

ANIREP delays publication of annual results

Observer Money

Chamwe Kaira Alpha Namibia Industries Renewable Power Limited (ANIREP) has asked the Namibia Stock Exchange for an extension for the publication of audited annual results for the year ended 28 February 2023. The ANIREP Board of Directors told shareholders and the general public this week that the restatement procedures relating to the 2021 and 2022 financial years has delayed the preparation and finalization of the ANIREP’s financial statements for the year ended 28 February 2023. “Consequently, ANIREP will not be in a position to publish its audited financial statements for the year ended 28 February 2023 within 3 months, as…

02 Jun

Kenyan made car tested off road in Namibia

Observer Money

Chamwe Kaira An adventurous couple, Paul Simkin and his wife Pauline Vaughan bought a Kenyan made car, Mobius 111 and decided to travel from the Kenyan capital, Nairobi through Southern Africa countries including Namibia. Simkin and Vaughan were this week still on their Southern Africa adventure. Their Namibian leg of the of the adventure was described as breathtaking. The couple drove off road in Namibia to experience the roads and the natural beauty of Namibia. “They are currently in Namibia enjoying the off-road experience with Mobius 111. The photos and scenes are breathtaking,” said Mobius Motors, the makers of the…

01 Jun

Diesel gets much cheaper in June

Featured, Observer Money

Niël Terblanché The sharp upward curve in the cost of consumer goods in Namibia will flatten off with diesel prices that will be significantly cheaper as of next week Wednesday. The Ministry of Mines and Energy has announced that the price for petrol will remain unchanged while the pump price for 50 ppm diesel will decrease by 80 cents and 10 ppm diesel by 60 cents.The new fuel prices in Namibia will be implemented at midnight next Wednesday. As a result of the downward adjustment the price of 50 ppm diesel will be N$19.00 and 10 ppm diesel will be…

01 Jun

Nampower refuses to write off debts

Observer MoneyMichael Gotora, Nampower refuses to write off debts

Martin Endjala The Namibia Power Utility (Nampower) refuses to write off the debts owed to it by the //Kharas region and Hardap region after the Deputy Leader and Member of Parliament of the Landless People’s Movement, Henny Seibeb tabled a motion in parliament calling for the writing off of debts. Both //Kharas and Hardap regions owe Nampower over N$500 million, while the total debt owed to NamWater as at 31 March 2023 is N$1.718 billion. Appearing before a Parliamentary Standing Committee on Human Resources and Community Development yesterday, Nampower’s Chief Financial Officer Michael Gotora adamantly stressed that Nampower would only…

01 Jun

DBN appoints new CEO

Featured, Observer MoneyDBN appoints new CEO

Niël Terblanché John Steytler, a seasoned Economist and a former Presidential Economic Advisor, has been appointed as the new Chief Executive Officer of the Development Bank of Namibia. The appointment was announced by Sarel van Zyl, the DBN’s Board of Directors chairperson. In a statement, Van Zyl expressed confidence and support to the incoming CEO and wished him well as he came to champion the strategic direction of the DBN with the help of a seasoned team of executives. “I expect Dr Steytler and his executive team to play a significant role in the recovery and future development of the…

01 Jun

Namibia set to host DFI network forum

Observer MoneyDevelopment Bank of Namibia, Environmental Investment Fund of Namibia, Namibia set to host DFI network forum

Niël Terblanché Development Finance Institutions (DFIs) in Namibia are set to host the 2023 Southern African Development Community network forum. The Agribank, Development Bank of Namibia, Environmental Investment Fund of Namibia and the National Housing Enterprise will host the forum under the SADC Development Finance Resource Centre (SADC-DFRC) and it is scheduled to take place from 6-9 June 2023 in Swakopmund. The network forum will be presented under the theme “Balancing DFI developmental mandate with sustainability.” The DFRC is an organization staffed by professionals in strategic areas and employs a collaborative approach which involves the utilization of complementary external technical…

01 Jun

Alweendo asks for more local ownership of valuable resources

Observer MoneyAlweendo asks for more local ownership of valuable resources

Niël Terblanché Tom Alweendo, the Minister of Mines and Energy, has requested that a state-funded mineral exploration fund be established to create increased local ownership in the mining sector. The mines Minister was officiating at a parliamentary oversight workshop on maximising the potential of the oil, gas, and mineral sector in Namibia when he made the request. “There is growing criticism from the public about the fact that the exploitation of our mineral and petroleum resources is dominated by foreigners. I wholeheartedly agree with this view, and may I add that the status quo is untenable; it is indefensible. We…

31 May

Gondwana employs first-ever AI consultant

Observer MoneyGondwana Collection, Gondwana employs first-ever AI consultant

Niël Terblanché Namibia’s premier tourism operator, Gondwana Collection has made history by taking a giant leap into the future by employing the very first Artificial Intelligence (AI) powered customer care consultant. “GECCO (Gondwana Electronic Customer Care Operative) was developed in response to the growing volume of customer messages. The automated consultant aims to provide prompt and accurate answers to clients' questions, thereby improving overall customer service levels,” Christiaan Jacobie, a member of Gondwana’s Public Relations Department said. He said that GECCO is constantly learning and evolving to provide reliable information. “While it may not be perfect in answering subjective questions,…