Observer Money – Page 35 – Windhoek Observer

07 Aug

Shoprite classifies furniture segment as discontinued

Observer Money

Shoprite Holdings has given an update on the sale of furniture business to Pepkor. The group signed an agreement on 2 September 2024 to dispose of the furniture business including the OK Furniture and House and Home brands to Pepkor in order to ensure the long-term sustainability of this business. The proposed transaction was approved by all relevant authorities in the applicable non-South African territories, and a positive recommendation was made by the South African Competition Commission to the South African Competition Tribunal. Following the South African Competition Tribunal’s granting of an application to intervene as a participant in the…

07 Aug

US remains the world’s biggest aviation market

Observer Money

The International Air Transport Association (IATA) has released the latest edition of the World Air Transport Statistics (WATS) with comprehensive statistical data for 2024. Updated annually with data from over 240 international airlines, the WATS database provides a complete overview of airline metrics related to demand, supply, and performance. The report includes a detailed breakdown of scheduled passenger and cargo traffic demand, scheduled passenger and cargo capacity, overview of the global airline fleet, and top airport pairs. The report also provides details on the financial health of the industry with in-depth information on operating costs and revenue, aircraft utilization and…

06 Aug

Interpack fixes salary glitch

Observer Money

Allexer Namundjembo Non-alcoholic beverage manufacturer and distributor Interpack says it has corrected salary discrepancies after several employees were underpaid due to a payroll miscalculation by the Human Resources department. The issue reportedly affected staff who said they received only partial salaries. “We were paid less. It seems like they calculated only the number of days we worked and ignored our basic salaries,” one employee told the Windhoek Observer on condition of anonymity. Former workers also alleged unfair dismissals, claiming some employees were terminated without undergoing formal disciplinary processes. “When I was there, we worked long hours, and some of us…

06 Aug

Protecting Your Data in the Digital Age

Observer Money, Opinions

Johannes Abraham Artificial Intelligence (AI) is transforming the financial industry, making banking more efficient and accessible. However, fraudsters are also leveraging AI to create sophisticated scams that target individuals and businesses. At Letshego Holdings, we are committed to ensuring your financial security and helping you stay informed about emerging threats. Understanding AI-driven fraud and taking proactive measures can help protect your finances and personal information. How AI Fraud Affects You Fraudsters are using AI to impersonate trusted financial institutions, to deceive customers into sharing sensitive information. One of the most concerning scams is AI-powered phishing, where scammers send highly convincing…

05 Aug

Resettled farmers receive commercial land in Omaheke

Featured, Observer Money

Allexer Namundjembo Twenty-two commercial farmers received their farming units during a handover ceremony held last week in the Omaheke Region. The event marked the 12th induction ceremony for resettled farmers under the national resettlement programme. Minister of agriculture, fisheries, water, and land reform, Inge Zaamwani, said the farmers had undergone training before taking ownership of the units. She explained that the 22 units were advertised during three periods: March to May 2023, July 2023, and October to December 2024. “The ministry has planned to provide a platform for the newly resettled commercial farmers, who have been allocated land on 13…

01 Aug

Nuclear energy could inject N$20 billion into economy

Observer Money

Chamwe Kaira The government sees potential in the nuclear fuel cycle chain, including uranium conversion and small modular reactors, with the ability to inject up to N$20 billion into the economy under favourable conditions. These include geopolitical dynamics, market trends, and Namibia’s financial and technical capacity. The sixth National Development Plan (NDP6) shows that one of the planned interventions is to assess the viability of uranium conversion. The plan also sets the stage for considering a nuclear power programme beyond the NDP6 period. The proposed activities include the establishment of a Nuclear Institute of Namibia and exploring flagship nuclear projects…

01 Aug

Talks advance on N$10 billion hydrogen loan

Observer Money

Chamwe Kaira The Namibia Green Hydrogen Programme (NGH2P) is in advanced talks with the European Investment Bank for a €500 million (approximately N$10 billion) facility. The proposed facility carries a 3.5% interest rate with a five-year grace period. Earlier this year, the programme, in partnership with the ministry of finance, submitted a funding proposal to the Climate Investment Funds’ Industry Decarbonisation Program under the Clean Technology Fund. The requested amount ranged from $50 million to $250 million, with a low-cost facility averaging 1% interest in USD. This funding has been awarded, and the NGH2P is now in the project pipeline…

01 Aug

Standard Bank expects profit to increase by 12%

Observer Money

Chamwe Kaira Standard Bank Namibia Holdings Limited expects its profit after tax for the six months ended 30 June 2025 to increase by between 8% and 12% compared to the same period last year. Earnings per share (EPS) and headline earnings per share (HEPS) are projected to rise to between 105 and 109 cents, up from 97 cents in 2024. This projection is based on a trading statement issued in line with the Namibia Stock Exchange Listings Requirements, which obliges companies to inform shareholders when results are likely to differ materially from the previous period. The company is expected to…

01 Aug

Govt to make bond interest payment

Observer Money

Chamwe Kaira The Namibian government will make an interest payment of N$17 million on 1 August 2025 on bond NAM04, listed under ISIN ZAG000138470. The bond carries a coupon rate of 10.51%, according to a notice issued on the Johannesburg Stock Exchange (JSE). “Since the scheduled payment date falls on a weekend or public holiday, the following business day rule will apply if necessary. FirstRand Bank Limited is the debt sponsor for this issuance,” the announcement said. On 3 February 2025, the government made a similar N$17 million payment on the same bond under the same terms. The government has…

01 Aug

Water supply capacity to increase by 2030

Observer Money

Chamwe Kaira The government plans to expand the country's bulk water infrastructure from 1,608 million cubic meters to 2,100 million cubic meters by 2030 to meet growing domestic, agricultural, and industrial needs. The expansion forms part of the sixth National Development Plan (NDP6), which outlines several interventions to improve and diversify water sources. These include building water purification plants, artificial recharge of inland aquifers, and developing pipelines to distribute raw water. “Seawater and brackish water will be desalinated and integrated into the supply system. These efforts will culminate in a resilient bulk water infrastructure network that meets current and future…