Page 114 – News Stand

06 Feb

African airlines see 8.5% demand growth

info_e12wt4csObserver Money

On a year-on-year basis in 2024, African airlines saw 8.5% year-on-year demand growth for air cargo increased their cargo capacity by 13.6% year-on-year achieving a 41.8% cargo load factor. The figures were released by the International Air Transport Association in its full year analysis of the air cargo sector’s performance based on traffic and capacity data captured in each region worldwide. However, in December 2024 demand fell by -0.9% year-on-year, which was the lowest of all regions and capacity increased 1.8%. In 2024, Africa accounted for 2% of the total global air cargo market. The air cargo sector is a…

06 Feb

Why Millennials and Gen Z are rethinking financial security

info_e12wt4csObserver Money

NDADHI NDOROMA The way people think about life cover is changing. For older generations, it was a practical safeguard, a traditional product that provided financial protection for spouses and children in the event of death. But younger generations are bringing fresh perspectives to financial planning, including how they view life insurance. Many of them grew up during economic downturns and have faced financial uncertainties. They're also shackled with student loans and increased living expenses, which, altogether, very much make their attitude towards money different from their parents. Security remains important but has shifted regarding how it's achieved and in what…

06 Feb

Reserves increase to N$63 billion

info_e12wt4csObserver Money

CHAMWE KAIRA The stock of international reserves increased at the end of December by 3.6% to N$63 billion compared to N$60.8 billion recorded at the end of November. The central bank said the increase was primarily driven by higher commercial bank inflows, as well as revaluation gains. The import cover stood at 4.2 months of imports, whereas imports excluding oil and appraisal activities translated into 5.1 months of imports. “The stock of foreign reserves was 11.2 times the value of N$5.6 billion of currency in circulation and remained adequate to sustain the currency peg between the Namibia dollar and South…

06 Feb

Uranium exports overtake diamonds

info_e12wt4csObserver Money

CHAMWE KAIRA Trade activities in the country have been on an upward trajectory since 2020. For the year 2024, exports increased by 15.3% compared to 9% in 2023, while imports increased by 18.5% when compared to 2% in 2023, according to Namibia Statistics Agency trade figures. Uranium was the top exported commodity in 2024, accounting for 16.8%, whereas precious stones (diamonds) took the second position, contributing 16.2% of the total export value. In 2024, petroleum oils topped the list of the imported commodities, accounting for 15.5% of the total imports for the country. Copper ores and concentrates came in second…

06 Feb

Capricorn expecting up to 35% higher profits

info_e12wt4csObserver Money

CHAMWE KAIRA The Capricorn Group’s profit after tax, earnings per share and headline earnings per share for the interim period ended 31 December 2024 is expected to be materially higher by between 25% and 35% compared to what was reported in the prior period, the company said. Capricorn said the interim financial results for the period ending 31 December 2024 are expected to be published on or about 27 February 2025. During the financial results for 2024, the group recorded a pleasing 12% increase in operating profits and an improved return on equity of 17.9%. Capricorn was pleased with the…

05 Feb

MoHSS seeks waiver on USAID freeze

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Hertta-Maria Amutenja The Ministry of Health and Social Services is engaging the US Embassy regarding a waiver following the US government’s decision to freeze foreign aid, affecting US-funded non-governmental organisations. The ministry’s executive director, Ben Nangombe confirmed that discussions are ongoing with the embassy to determine the status of aid-dependent programmes. “We are engaging the US Embassy on the waiver,” he said. The freeze was implemented by US President Donald Trump’s executive order on foreign aid, which led to a 90-day suspension of the USG President's Emergency Plan for AIDS Relief (PEPFAR) funded HIV/AIDS treatment across the African continent. PEPFAR…

05 Feb

Ueitele faces scrutiny over land tax exemption

info_e12wt4csNational News

Allexer Namundjembo and Erasmus Shalihaxwe Documents have surfaced, revealing that Judge Shafimana Ueitele, the presiding judge in the high-profile 1896 Redline Case, is among 11 individuals who were exempted from paying taxes on their farms. Uietele, according to the documents, owns Farm 938 (Portion 1 of Wolseley), covering 1,732 hectares, and Farm 933, which covers 4,867 hectares in the Omaheke region, which is within the commercial farmland that is outside the Veterinary Cordon Fence. According to the documents, Ueitele benefitted from a tax exemption for his two farms. The exemptions are outlined in a government gazette issued on 6 August…

05 Feb

Forensic specialist set to determine cause of fire at Mondesa Clinic

info_e12wt4csNational News

Niël Terblanché The Ministry of Health and Social Services has requested forensic specialists of the Namibian Police to investigate and determine the cause of the fire the destroyed part of Mondesa Clinic in Swakopmund on Monday night Walters Kamaya, the health ministry’s spokesperson, said that the actual cause of the fire could not be conclusively determined. “Members of the Namibian Police attached to the forensic institute in Windhoek have already started their investigation,” he said. In the meantime, the Ministry of Health and Social Services advised residents to seek alternative healthcare services while efforts are underway to restore operations at…

05 Feb

MTC 4Life initiative continues to empower Namibian youth

info_e12wt4csFeatured, Observer Money

Niël Terblanché Namibia’s leading digital innovation company, MTC, has reaffirmed its commitment to youth empowerment with the continuation of its MTC 4Life programme. The Corporate Social Investment (CSI) initiative aims to equip young Namibians with practical business and entrepreneurial skills to establish or expand their small and medium enterprises, ultimately helping to reduce unemployment. The initiative announced on Tuesday will provide 40 young entrepreneurs with a two-week training programme in various trades, including barbering, brick manufacturing, animation, carpentry, hairstyling, electricity and solar installation, upholstery, and welding. The training will be facilitated by qualified Namibian professionals. Upon completion, participants will receive…

05 Feb

Learners welcome NAMCOL enrolment extension

info_e12wt4csNational News

Stefanus Nashama Learners have welcomed the decision by the Namibian College of Open Learning (NAMCOL) to extend its enrolment period for the 2025 academic year. The announcement was made on Wednesday by Freddy Kaukungua, NAMCOL’s marketing and information officer, who said that the extension was in response to the high demand from students looking to upgrade their qualifications following the release of the January 2025 exam results. Esther Elifas, who did not achieve passing marks in her Grade 11 exams last year, expressed her excitement about the extension. “Sometimes, learners may not be ready to register due to various reasons,…