Page 10 – News Stand

24 Apr

Water supply to Windhoek restored

info_e12wt4csObserver Money

Niël Terblanché NamWater confirmed that repair work on the burst section of the Von Bach–Windhoek transfer pipeline was completed in the early hours of Thursday morning. According to Lot Ndamanomhata, the spokesperson of NamWater, the repair was finalised around 05:00, after which a controlled refilling of the pipeline commenced. "The outflow from Booster 2 to the Windhoek Terminal Reservoir has now been steadily ramped up to 600 cubic metres per hour, with an outlet pressure of 63 metres," he said in a statement. He added that this cautious approach, the utility added, is necessary to maintain system stability and avoid…

24 Apr

Upstream prospects increase with light crude oil discovery in the Orange Basin

info_e12wt4csObserver Money

Niël Terblanché The National Petroleum Corporation of Namibia (NAMCOR), in collaboration with its joint venture partners, has confirmed the discovery of light crude oil at the Capricornus 1-X exploration well, located offshore in Block 2914 within the Orange Basin. The operator of Petroleum Exploration Licence 85 (PEL 85), Rhino Resources, announced the conclusion of a drilling campaign conducted with the Noble Venturer drillship. The well, which was spudded on 17 February and reached total depth on 2 April, encountered 38 metres of net hydrocarbon pay within its primary Lower Cretaceous target. Notably, no water contact was observed in the reservoir,…

24 Apr

Namibia takes charge of Africa Netball

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Hertta- Maria Amutenja Namibia’s Rebekka Goagoses has been appointed acting president of Africa Netball, following the provisional suspension of president Cecilia Molokwane. Goagoses, who stepped down as Netball Namibia’s President recently, serves as vice president for development on the continental executive board, and was unanimously selected during a special board meeting held on 22 April. The move comes as Molokwane faces allegations under investigation by World Netball. While details of the allegations remain confidential, World Netball has confirmed that Molokwane is suspended from all netball activities until the conclusion of the disciplinary process. Molokwane, also the president of Netball South…

24 Apr

MacAlbert Hengari resigns from ANIREP

info_e12wt4csObserver Money

CHAMWE KAIRA Alpha Namibia Industries Renewable Power (ANIREP) Limited has announced that in accordance with the Namibia Securities Exchange listings requirements, it informed shareholders of the resignation of Dr MacAlbert Hengari from the board of ANIREP Limited. This follows his appointment to the cabinet as Minister of Agriculture, Fisheries, Water and Land Reform. The board expressed sincere gratitude to Hengari for his dedicated service since March 2018. Hengari was appointed chairperson of the board in September 2020 and has led with diligence and unwavering commitment throughout his tenure. ANIREP extended its best wishes to Hengari as he undertakes to contribute…

24 Apr

SA announces reversal of VAT increase

info_e12wt4csObserver Money

The South African Minister of Finance will shortly introduce the Rates and Monetary Amounts and the Amendment of Revenue Laws Bill (Rates Bill), which proposes to maintain the Value-Added Tax (VAT) rate at 15% from 1 May 2025, instead of the proposed increase to VAT announced in the Budget in March. The decision to forgo the increase follows extensive consultations with political parties, and careful consideration of the recommendations of the parliamentary committees. By not increasing VAT, estimated revenue will fall short by around R75 billion over the medium term. As a result, the Minister of Finance has written to the…

24 Apr

ANIREP acquires 45% stake in Cerim for N$60m

info_e12wt4csOpinions

CHAMWE KAIRA Alpha Namibia Industries Renewable Power (ANIREP) has concluded a conditional binding offer, in terms of which ANIREP will acquire a 45% shareholding in Cerim Luderitz Energy (Pty) Ltd for a total consideration of N$60 million. The vendors are Allied Worldwide Trading Limited, for a 30% shareholding, and Riminii Investment (Proprietary) Limited, for a 15% shareholding. CERIM is an Independent Power Producer (IPP) currently developing a 50 MW (AC) wind power plant located 17km south of Lüderitz in the Karas Region. The project will include the development of 743 hectares of land into a power-generating facility and the construction…

24 Apr

PPS banks on new products, solutions

info_e12wt4csObserver Money

CHAMWE KAIRA The strategy of PPS Insurance Namibia continues to be the introduction of new products, services and solutions. “That is why our Namibian members benefitted from the introduction of a retirement annuity product in 2024,” said Izak Smit, PPS Group CEO. The company is the provider of financial solutions exclusively for graduate professionals. “We are pleased with our performance, which was supported by our robust strategy. Our priority as a company operating under the ethos of mutuality is to support our members by paying all valid claims. Thereafter, we share our success with our members by allocating operational and…

24 Apr

Langer Heinrich production increases by 17%

info_e12wt4csObserver Money

CHAMWE KAIRA The Langer Heinrich Mine produced 745 484 pounds of uranium oxide during the quarter ending 31 March, a 17% increase on the previous quarter’s production, totalling over two million pounds’ production for the financial year to date. The mine is owned by Paladin Energy. Paladin Energy CEO Ian Purdy said the one-in-fifty-year rainfall event at the mine and surrounding areas in March caused the suspension of operations, saturation of the stockpiles and impacts on the processing plant chemistry. Additionally, flooding in the pit identified for early commencement of mining, along with delays in the delivery and mobilisation of…

24 Apr

Namibia produces 631 584 rough diamonds in Q1

info_e12wt4csObserver Money

CHAMWE KAIRA Namibia produced 631 584 carats of rough diamonds in the first quarter ended 31 March 2025, Anglo American, which owns De Beers, said. De Beers jointly owns several diamond production and processing companies with the Namibian government. Production figures indicated that Debmarine Namibia produced 461 395 carats, while Namdeb (land operations) produced 170 189 carats. Namibia produced 584 000 rough diamonds in the fourth quarter of 2024. Rough diamond production in the third quarter of 2024 was 456 000 carats, while in the second quarter of 2024 it was 561 000 carats and 633 000 carats in the…

23 Apr

PDM seeks clarity on state’s policy for offices of ex-presidents

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Hertta-Maria Amutenja The death of Founding President Sam Nujoma has sparked renewed questions over the long-term use of state-funded offices allocated to former heads of state. The Popular Democratic Movement’s (PDM) leader, McHenry Venaani, on Wednesday submitted a series of questions to Prime Minister Elijah Ngurare, seeking clarification on the future use and policy governing these facilities. The office used by Nujoma since his retirement in 2005 is located in Klein Windhoek suburb at the corner of Schweringsburg Street and Robert Mugabe Avenue. With both Nujoma and Geingob now deceased, Venaani questioned whether the government plans to revisit policies on…