Page 118 – News Stand

30 Jan

Bannerman secures water and power contracts for Etango Uranium Project

info_e12wt4csObserver Money

CHAMWE KAIRA Bannerman Energy Ltd has confirmed that it has secured supply contracts to cover construction water and power requirements for its Etango uranium project in the Erongo region. In a quarterly update for the period ending 31 December 2024, the company announced that negotiations for life-of-mine operational water and power supply contracts have progressed as required and are now at an advanced stage. Regarding water supply, the company said operational water for Etango will be sourced from NamWater and supplied from desalinated sources to the base reservoir in Swakopmund. From there, the planned permanent Etango water supply infrastructure consists…

30 Jan

B2Gold announces offering of convertible senior notes

info_e12wt4csObserver Money

CHAMWE KAIRA B2Gold Corp has announced an offering of convertible senior unsecured notes due in 2030, with an aggregate principal amount of US$350 million. The company expects to grant initial purchasers an option for 15 days to acquire up to an additional US$52.5 million in notes. According to B2Gold, the net proceeds from the offering will be used to fund working capital requirements and for general corporate purposes. Initially, the funds will be used to pay down the outstanding balance on the company’s revolving credit facility. Future draws on the facility will then be used to support working capital and…

30 Jan

Automotive market set for recovery

info_e12wt4csObserver Money

CHAMWE KAIRA Namibia’s automotive market is set for a strong recovery in 2025, driven by improving economic conditions and strategic vehicle launches. A report by Simonis Storm Securities projects that a more accommodative monetary policy and rising consumer confidence will accelerate vehicle sales across both passenger and commercial segments. Toyota is well-positioned to strengthen its market dominance, leveraging upcoming next-generation Hilux and Fortuner models, which will integrate improvements in fuel efficiency, technology, and safety features. The refreshed Corolla Cross, featuring advanced hybrid technology, reflects Toyota’s ability to align with evolving consumer preferences for fuel-efficient and cost-effective mobility solutions, the report…

30 Jan

Namdeb continue to reach milestones

info_e12wt4csObserver Money

Namdeb’s life of mine is up to 2042. Namdeb’s performance and continued journey as a significant contributor and role player in the Namibian economy would not have been possible without the royalty remission. Nambeb is currently enjoying a five-year,5% royalty remission, agreed with the government in 2021. Namdeb’s 2023 production year is characterised by milestones including the historical production achievement of one million western-block square meters of area mined. Namdeb obtained contestable customer approval from Namibia’s Electricity Control Board (ECB), a key milestone for the development of the Wind Farm which is a strategic imperative contributing towards energy cost…

30 Jan

A New Era for Africa: Embracing Self-Reliance and Accountability

info_e12wt4csOpinions

Sakaria Johannes In recent days, we have seen the United States, under the leadership of President Donald Trump, make significant decisions that challenge the status quo of foreign aid to Africa. One of the most notable actions was the Trump administration’s decision to cut financial assistance to certain African countries. While this move was met with controversy and criticism, I believe it carries with it a deeper message for Africa; a message that, if embraced, could pave the way for a more prosperous and self-sufficient continent. For too long, African nations have been reliant on foreign aid. While international support…

29 Jan

Accuracy of unemployment figures disputed

info_e12wt4csMain

Stefanus Nashama Economists and political figures have expressed concern about the accuracy of the data presented in the Labour Force Thematic Report. On Wednesday, the Namibia Statistics Agency (NSA) released a report indicating that the overall unemployment rate is 36.9% for individuals aged 15 and older. “The unemployment rate stood at 36.9% with a youth unemployment rate of 44.4%. This indicates an increase in the overall unemployment rate of 3.5% from 33.4% in 2018 to 36.9% in 2023,” says the report. According to the report, this translates to 320 442 unemployed people and 546 805 employed out of a working-age…

29 Jan

USA issues ‘stop-work order’ to all aid recipients in Namibia

info_e12wt4csNational News

Hertta-Maria Amutenja Workers at non-governmental organisations (NGOs) in Namibia that receive funding from the government of the United States of America for various programs, including HIV prevention, LGBTQ support, and climate change initiatives, have been ordered to cease operations immediately. The Windhoek Observer understands that the workers are still required to report for duty but cannot execute any duties. IntraHealth Namibia (IHN), a non-profit organisation working to curb new HIV infections among adolescent girls and young women under the DREAMS project, declined to comment on the matter. Communications specialist, Selma Shiwaya, told Windhoek Observer that the organisation had no statement…

29 Jan

‘Election rerun could face constitutional hurdles’ – Hopwood

info_e12wt4csNational News

Allexer Namundjembo Graham Hopwood, the director of the Institute for Public Policy Research (IPPR), has warned that if an election rerun is ordered by the court, there will be insufficient time to organise new elections before the 21 March deadline for the new administration. Hopwood made these remarks at the Election Fact Check Coalition review conference on Wednesday. “We would be in uncharted territory. We have to be thinking about constitutional amendments to extend encumbrance offices until the election is organised. But I am not saying it would happen,” he said. The Independent Patriots for Change have launched applications in…

29 Jan

Mother alleges abuse following removal of child by court

info_e12wt4csNational News

Hertta-Maria Amutenja The Children’s Court in Windhoek ordered the removal of an eight-year-old girl from her mother’s care on 23 January. The mother, who is known to the Windhoek Observer as Nautende, opposed the decision. Videos circulating online show Nautende resisting attempts by police and a social worker to enter her home. In one clip, she claims that the police sprayed teargas inside the house during the operation. Speaking to the Windhoek Observer, Nautende alleged that authorities misled her about the situation and forcibly removed her child by taking her to Katutura Hospital under false pretences. "They told me they…

29 Jan

MUN condemns Namdia leadership following deadly diamond heist

info_e12wt4csNational News

Niël Terblanché In the aftermath of the tragic death of senior security officer Francis Eiseb during a robbery at Namibia Desert Diamonds (Namdia) on 18 January, the Mineworkers Union of Namibia (MUN) has issued a scornful assessment of the company's executive leadership and board of directors. In a statement released on Wednesday, the union’s general secretary, George Ampweya said the systemic governance failures and neglect of employee welfare contributed to the fatal shooting incident. Ampweya expressed deep disappointment over the leadership's persistent disregard for the union's concerns. "It is deeply disheartening to see these concerns neglected time and again, despite…