Page 23 – News Stand

03 Jul

Uis mining project raises N$120 million for expansion

info_e12wt4csObserver Money

Chamwe Kaira Andrada Mining Limited has raised N$120 million to support the expansion of its operations at Uis in the Erongo Region. The company closed its previously announced subscription and share placing, securing a total of £5 million (approximately N$120 million). Of this amount, £4.5 million (approximately N$108 million) came through an equity subscription involving 150 million ordinary shares taken up by Talent10 Resources Proprietary Limited. Talent10 now holds 8.16% of Andrada’s enlarged issued share capital. The remaining £0.5 million (approximately N$12 million) was raised by placing 16 million shares with institutional and professional investors. The bookrunner for the placement…

03 Jul

TATA on 40 years of operations in Africa

info_e12wt4csObserver Money

Jacques Taylor Doing business in Africa is challenging for any company in any industry sector, but with 40 years of experience in the field, TATA has established itself as a company that is both commercially successful and relevant to the diverse demographic and geographical communities in which it operates across the continent. During the period of its operations in Africa, TATA has observed and experienced vast changes: greater economic prosperity for more Africans, the evolution of the African Union, the establishment of a pan-African parliament and the push for a single currency, the forging of closer regional trade ties including…

03 Jul

Diplomacy in the 21st century: a Pan-Africanist analysis of the legitimacy crisis and the path to a just global order

info_e12wt4csOpinions

PAUL T. SHIPALE (with inputs by Folito Nghitongovali Diawara Gaspar) Abstract As President Netumbo Nandi-Ndaitwah marks 100 days in Office and is expected to announce a new round of ambassadorial and high commission appointments, with envoys scheduled for deployment in September this year, this article seeks to interrogate diplomacy in the 21st century which confronts a multifaceted crisis of legitimacy and effectiveness, characterized by inherent contradictions between economic interests and discernible discrepancies in geopolitical practices. The article explores the evolution of contemporary diplomacy, with a particular focus on economic diplomacy, and critically analyzes its impacts, especially on African countries. It…

03 Jul

Africa, the benign second class capitalist denialist

info_e12wt4csOpinions

Kae Matundu Tjiparuro With the world on the brink of the Third World War (WWIII), African political leaders were meeting in the Angolan capital of Luanda. Presumably to find and foster business links with business people from the United States of America (USA). Oblivious to the war ongoing, which was then in its 12th day between Israel and Iran, was nothing but a capitalist war America waging in the Middle East, with Israel as its proxy. One of the many wars Capitalist and Imperialist America has ever been waging all over the world since the dawn of Capitalism and Imperialism.…

02 Jul

Toll gate proposal stuck in approval gridlock

info_e12wt4csMain

Allexer Namundjembo The plan to introduce toll gates on major roads across the country remains stalled, with no significant progress reported. The Road Fund Administration (RFA) has confirmed that the project is still undergoing internal approvals and has not moved to the public rollout stage. “There is no progress on tolling yet. The matter is still receiving internal process approvals first. An update will be provided to the public in time,” said RFA chief executive officer Ali Ipinge in response to an inquiry by the Windhoek Observer. The toll gate proposal was first introduced in 2021 and aimed to install…

02 Jul

Nanso slams U.S. visa social media rule as repressive

info_e12wt4csNational News

Hertta-Maria Amutenja The Namibia National Students Organisation (Nanso) has condemned a new U.S. visa policy that requires student and exchange visa applicants to make their social media accounts public. Nanso says the rule threatens freedom of expression and political independence for Namibian youth. “It’s quite a terrible policy, because it takes away the right of self-expression of our students. Ideally, there must be separation between your academic, professional, and personal life and that must not be used against you,” said Nanso president Dorthea Nangolo in an interview with the Windhoek Observer. She warned that the policy could be used to…

02 Jul

President to launch delayed NDP6 this month

info_e12wt4csNational News

Justicia Shipena President Netumbo Nandi-Ndaitwah says the sixth National Development Plan (NDP6) is complete and will be launched soon. Although she did not give an exact date, Nandi-Ndaitwah hinted that the plan will be launched this month. “I will launch it soon because all the work is done. I expect you to be familiar with the seven priorities of our government. Similarly, I expect you to be familiar with the eight critical economic enablers to effectively champion development in your respective regions,” she said during the appointment ceremony of regional governors at State House on Tuesday. The launch comes after…

02 Jul

World Bank downgrades only Namibia in latest global review

info_e12wt4csNational News

Justicia Shipena Namibia has been downgraded from an upper-middle-income to a lower-middle-income country, according to the World Bank’s latest income classification update released this week. Namibia is the only country whose classification moved downward in the 2024 update. The downgrade follows changes in Gross National Income (GNI) per capita, which the World Bank uses to group countries into four categories, low, lower-middle, upper-middle, and high income. Every year on July 1, the World Bank makes these updates using the previous year's GNI data and the Atlas method, which smooths exchange rate fluctuations. The World Bank said Namibia’s GNI per capita…

02 Jul

Grootfontein municipality promises crackdown on disorderly bars

info_e12wt4csNational News

Hertta-Maria Amutenja The Grootfontein municipality says it will take firm action against shebeen and bar owners who violate noise regulations and public order laws. This follows complaints from residents about growing lawlessness in the town. “We are concerned about the bars and loud music from bars. In fact, on Monday, we had a very serious meeting and we are going to take strict measures against shebeen owners and other places of entertainment that are not adhering to the laws,” said acting chief executive officer of the municipality, Indileni Lungameni. Lungameni said the municipality has approached the Namibian Police Force to…

02 Jul

Luvindao urges scholarship recipients to avoid distractions

info_e12wt4csNational News

Hertta-Maria Amutenja Minister of health and social services Esperance Luvindao has urged 52 health scholarship recipients to remain focused and disciplined as they begin their academic studies. Speaking at the pre-service scholarship award ceremony on Wednesday, Luvindao stressed the importance of staying committed, especially as many students will be far from home and familiar support systems. “You are embarking on a journey in a new environment, potentially far from home and far from familiar family and friends support systems. It is vital that you remain focused on your primary objective,” she said. Luvindao warned students against falling into negative social…