Observer Money – Page 163 – Windhoek Observer

07 Jul

Electrifying the Oil and Gas sector for a greener future

Observer MoneyElectrifying the Oil and Gas sector for a greener future

Martin Endjala The oil and gas sector plays a significant role in the global economy with an intrinsic value of some economic activity, accounting for the movement of goods and services, heating, electricity, pharmaceuticals, and materials such as plastics. This value is expected to grow to USD 8 trillion by 2027 according to others but regardless, growth in its value is phenomenal. This is according to RDJ Publishing and RDJ Group Chief Executive Officer, David Jarrett, in his latest take on the prospects of a greener future. Jarrett said that oil and gas extraction on the Norwegian Continental Shelf (NCS)…

07 Jul

Government to net a quarter billion in next two years in green hydrogen project

Observer Money

Martin Endjala Following some scepticism from the public on the government’s 24 percent stake in the Green Hydrogen project, it is projected that government will make a net profit of a quarter Billion Namibian Dollars in the next two years. This is unlike mining or oil where government traditionally receives next to nothing for leasing out the land, for mining exploration licences, for example. It is, however, not the case with green hydrogen, as the government is said to get paid in a region of N$10 000 per licence. This means the government is already being compensated for availing the…

07 Jul

Namibia projects to produce 350 000 tons of green hydrogen

Observer MoneyNamibia projects to produce 350 000 tons of green hydrogen

Martin Endjala As the world moves towards a green economy, Namibia’s green hydrogen project is projected to produce 350 000 tons of the gas once it is fully operational. Currently, 90 percent of the world has committed to achieving net zero carbon emissions with the use of solar and wind power as the main source of energy. Big market countries like Japan, China, the USA and Europe are seeking to reach lower carbon emissions but do not have enough land to build green energy plants which makes Namibia a very good prospect in this regard. In a recent media briefing,…

07 Jul

RMB arranged FNB Namibia’s green bond issuance

Observer MoneyRMB arranged FNB Namibia’s green bond issuance

RMB in Namibia and RMB’s SA debt capital markets and sustainable finance teams in September last year successfully arranged FNB Namibia’s first green bond issuance in the local debt capital markets. This marked the second issuance of green bonds in Namibia with FNB Namibia raising N$353 million across three- and five-year notes. The proceeds of the green bonds are allocated to eligible green loans applied towards Namibian green buildings and renewable energy generation projects. Sustainability is key to FNB Namibia’s vision of a globally competitive Namibia, and these green bonds mark a major milestone for the country and the bank.…

07 Jul

Rosh Pinah Solar Park comes on stream

Observer MoneyRosh Pinah Solar Park comes on stream

CHAMWE KAIRA Emesco’s Rosh Pinah Solar Park is operational with the plant supplying solar PV generated energy as embedded generator to Rosh Pinah Mine, Emesco executive Roger Avice Du Buisson told Observer Money. The first 5.7 MWp phase has been completed and will increase to 15 MWp in phase two to support the expansion of the mine, Du Buisson said. He said N$90 million has been invested in the project and was supported by the Development Bank of Namibia for the debt portion. The plant has 70% Namibian and 30% South African shareholding. “Projects like these are making use of…

07 Jul

SADC urged to strengthen climate finance expertise

Observer MoneySADC urged to strengthen climate finance expertise

CHAMWE KAIRA Southern African Development Community (SADC) has been urged to strengthen regulators’ and stock exchanges’ expertise on climate finance, as well as green bonds, so they can play leadership roles. “They have dual roles: implementing appropriate regulations, as well as to support market development,” a market report on the green bond market in the Southern Africa Development Committee (SADC) region prepared for FSD Africa and Committee of SADC Stock Exchanges (CoSSE). The study covered the identification of green bond opportunities in the region, the barriers that hinder their uptake, and recommendations to overcome these. The study informed the development…

07 Jul

Environment and making investment decisions

Observer MoneyEnvironment and making investment decisions

Bank Windhoek’s sustainable finance and environmental, social and Governance analyst, Joachim Komeheke says Namibia cannot deny the importance of protecting the environment as these are aspects that determine the modality and functionality of any economy across the globe. “The European Commission defines Sustainable Finance as the “process of taking Environmental, Social and Governance (ESG) considerations into account when making investment decisions in the financial sector, leading to more long-term investments in sustainable economic activities and projects”. Komeheke says for a greater part of human’s existence on earth, especially since the industrial revolution, humans have primarily focused on extraction and growth,…

06 Jul

Banking customers urged to amp up security

Observer MoneyBanking customers urged to amp up security

Staff Reporter Vigilance against fraudster tricks and scams remains one of the most effective defences to curb theft and fraud. International cybersecurity experts, including the United States-based Abnormal Security, have observed that Business Email Compromise (BEC) attacks increased by 81 percent in 2022 and 175 percent over the past two years. Bank Windhoek’s Manager of Forensic Services, Johnny Truter said that BEC is an advanced phishing scam that impersonates people, organisations, or entities the victim knows. “It works by manipulating email addresses, so the sender appears legitimate. The most common victims of BEC are companies that use online transfers to…

06 Jul

Namibia’s current repo rate is less restrictive than others

Observer MoneyNamibia’s current repo rate is less restrictive than others

Martin Endjala The real repo rate in Namibia is currently at 1.45 percent and is deemed to be less restrictive compared to real central bank policy rates in other emerging markets. Economist, Theo Klein, told this publication that the real repo rate in Namibia has been positive since April 2023 because the monetary policy has been restrictive for the last two and a half months. “Due to the lag effect of monetary policy, the cumulative 300bps hikes from December 2021 to December 2022 have not had an impact on the real economy as yet,” said Klein. He said further rate…

04 Jul

Synthetic diamonds negatively affect the market

Observer Money

Martin Endjala The Minister of Mines and Energy, Tom Alweendo stressed yesterday that laboratory-produced diamonds, commonly known as synthetic diamonds, pose a danger to the natural diamond market and that robust interventions are needed to safeguard prices. “Like with other minerals, we need to continue to ask ourselves the question of whether our diamonds can contribute more to our economy. What more can we get from our diamonds? How can the diamond sector contribute more to our local economic activities?” he asked. The Minister made the remarks during the announcement of the appointment of 12 new Diamond Board Members in…