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Reserves increase to N$63 billion
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…
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Uranium exports overtake diamonds
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…
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Capricorn expecting up to 35% higher profits
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…
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MoHSS seeks waiver on USAID freeze
05 Feb

MoHSS seeks waiver on USAID freeze

info_e12wt4csMain
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…
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Ueitele faces scrutiny over land tax exemption
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…
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Forensic specialist set to determine cause of fire at Mondesa Clinic
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…
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MTC 4Life initiative continues to empower Namibian youth
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…
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Learners welcome NAMCOL enrolment extension
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,…
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New SADC PF and GIZ Project to enhance accountability and citizen participation
05 Feb

New SADC PF and GIZ Project to enhance accountability and citizen participation

info_e12wt4csNational News
Moses Magadza The Southern African Development Community Parliamentary Forum (SADC PF) and the German Development Cooperation (GIZ) have concluded a joint planning meeting ahead of signing a Grant Agreement to launch a new project titled “Enhancing Accountability and Citizen Participation in Regional Integration through Regional Parliament.”  The three-year initiative, backed by €1.4 million in funding from the Austrian Development Agency (ADA) and the European Union (EU), aims to bolster democratic governance, promote gender equality, and strengthen regional integration across SADC member states. Speaking after the two-day meeting held on January 30-31 in Windhoek, Sheuneni Kurasha, Manager of the Programme on…
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Swakopmund dog killers in big trouble
05 Feb

Swakopmund dog killers in big trouble

info_e12wt4csNational News
Niël Terblanché Outraged residents of Swakopmund gathered in front of the Magistrate’s Court to protest against the granting of bail for three young men accused of killing a beloved pet dog and its sale for human consumption. Three of the four suspects made their first appearance before the court on Wednesday. The accused, Seth Skrywer (20), Lourens Nanub (18), and Mariando Bloedstaan (20), were released on bail of N$3 000 each, while a 12-year-old minor was placed under parental supervision. The case was postponed to 18 March. The accused persons were charged with theft, money laundering, and animal cruelty. The…
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