Page 271 – News Stand

03 Oct

Green light pending for sulphuric acid facility at Walvis Bay

info_e12wt4csObserver Money

CHAMWE KAIRA The Cooperative Bulk Handling Terminal (Pty) Ltd. (CBHT) has appointed A. Speiser Environmental Consultants (ASEC) to conduct an Environmental Impact Assessment (EIA) for the construction and operation of the sulphuric acid storage and handling facilities at the port of Walvis Bay and the transport of sulphuric acid to the Etango Mine, documents showed this week. CBHT is a subsidiary of Bannerman Investments Namibia (Pty) Ltd. and part of the Bannerman Energy Ltd. Group of Companies. CBHT) was awarded an area within the port of Walvis Bay for its sulphuric acid storage and handling facility. The company manages the…

03 Oct

NBL’s beverage categories grow

info_e12wt4csObserver MoneyHeineken South Africa

CHAMWE KAIRA In the condensed consolidated interim financial results for the period ended 30 June, Namibia Breweries Limited (NBL) said over the period, the company delivered well on its strategy for the Heineken transaction, as the company’s diverse portfolio experienced volume growth in all beverage categories. At the same time, NBL said it continued to manage cash efficiently given high capital expenditures, higher debt levels, and challenging market conditions. In the coming six months, Namibia Breweries Limited (NBL) plans to continue optimising the combined brands, infrastructure and people. According to the company, synergies will further boost margins and balance the…

03 Oct

Bank Windhoek gets stable outlook rating

info_e12wt4csObserver MoneyBank Windhoek Limited, Capricorn Group Limited, GCR Ratings

CHAMWE KAIRA GCR Ratings (GCR) has affirmed Bank Windhoek Limited’s Namibian long and short-term national scale issuer ratings AA(NA)/ A1+(NA) respectively, GCR has announced. At the same time, the South African long-term issuer rating has been affirmed at A(ZA). The rating outlooks remain stable. GCR has also confirmed Capricorn Group Limited's Namibian long- and short-term national scale issuer ratings AA-(NA)/A1+(NA), respectively, with a stable outlook. The ratings of Bank Windhoek Limited reflect the strengths and weaknesses of Capricorn Group Limited. The group views the bank as its core operating subsidiary, accounting for a larger portion of its total assets and…

03 Oct

Oryx property portfolio valued at N$4.1 billion

info_e12wt4csObserver MoneyDebenture Trust Deed, Namibian Stock Exchange, TPF International Limited

CHAMWE KAIRA Oryx Properties has stated in its 2024 integrated report that its diverse and growing property portfolio is valued at N$4.167 billion. This includes all primary real estate sectors and continues to expand geographically, strengthening the group’s resilience to economic fluctuations. Moreover, the company said investors enjoy international exposure to the Croatian property sector through our substantial 26% shareholding in TIL. “Our primary listing on the NSX offers investors a transparent view of our performance. To safeguard long-term value for our unitholders, the policy is to pay out a minimum of 75% of total distributable income until 2027, after…

03 Oct

Inflation expected to stabilise at 4.7%

info_e12wt4csObserver MoneyBank of Namibia, Monetary Policy Committee (MPC)

CHAMWE KAIRA Simonis Storm stockbroker and wealth management has projected that inflation will stabilise at approximately 4.7% year on year by the end of this year. Furthermore, Simonis expects an additional 25 basis point rate cut at the December Monetary Policy Committee (MPC) meeting, bringing the year-end repo rate to 7.25%. The central bank is likely to adopt a cautious stance, closely monitoring the effects of this monetary easing before considering further policy adjustments, the firm noted. The current repo rate in Namibia stands at 7.50%, with the prime lending rate at 11.25%. Simonis said that although these rates remain…

03 Oct

Namdeb announces new corporate affairs manager

info_e12wt4csObserver MoneyGrace Luvindao

Namdeb this week announced the appointment of Grace Luvindao as its new corporate affairs manager. Namdeb said Luvindao brings over a decade of experience in communications, public relations and marketing. She holds a degree in media studies: public relations and advertising, from the University of Namibia, a master’s degree in media and international development from the University of East Anglia, and is currently undertaking a Post-Graduate Diploma in Business Administration from the Namibia Business School. In her previous role as group communications and stakeholder engagement manager at Capricorn Group, she was responsible for developing and implementing Capricorn Group’s stakeholder engagement…

03 Oct

Deep Yellow appoints Jim Morgan to head projects

info_e12wt4csObserver MoneyMulga Rock Project, Paladin Energy, Tumas Project in Namibia

CHAMWE KAIRA Deep Yellow Limited has appointed Jim Morgan as head of project delivery, the company announced this week. Morgan is a seasoned mining executive with over 35 years of experience on high-value uranium and resource sector projects. Morgan is well known to the Deep Yellow team, as he was previously executive general manager-project development for Paladin Energy from 2005–2012, during the period when John Borshoff was Paladin CEO. Morgan played a critical role in Paladin’s successful construction of the Langer Heinrich uranium mine in Namibia and the Kayelekera uranium mine in Malawi. Following his time at Paladin, Morgan was…

02 Oct

Amupanda, Swartbooi accuses ECN of ignoring procurement rules in ballot tender

info_e12wt4csMain

Stefanus Nashama The Electoral Commission of Namibia (ECN) faces criticism over claims that it bypassed the public procurement process for the printing of ballot papers for the November 2024 elections. The Affirmative Repositioning movement’s (AR) leader, Job Amupanda and the Landless People's Movement’s (LPM) leader, Bernadus Swartbooi questioned the transparency of the tendering process while at the same time, accusing the ECN of secretly favouring Swapo-affiliated companies. On Tuesday and Wednesday, the Commission met with the members of the Political Party Liaison Committee to provide an update on the procurement process for the printing of ballot papers for the 2024…

02 Oct

Samherji subsidiary rejects Heinaste fishing crew’s wage claims

info_e12wt4csNational NewsArcticNam Fishing, Icelandic fishing company, MV Heinaste

Ester Mbathera The directors of the subsidiaries of the Icelandic fishing company Samherji in Namibia have rejected demands from former crew members of the MV Heinaste for unpaid wages and severance packages. This is according to the latest annual report from Samherji Ltd., the parent company in Iceland. “The directors of the subsidiary are of the opinion that these claims have no basis and consider that a final settlement was made with the affected parties in 2018 and early 2019,” reads the report. However, in 2019, 23 former fishermen, who worked on the Heinaste horse mackerel freezer vessel took Samherji’s…

02 Oct

IPC calls for transparency in November elections

info_e12wt4csNational NewsImmanuel Nashinge

Stefanus Nashama The Independent Patriots for Change (IPC) has urged the Electoral Commission of Namibia (ECN) to ensure complete transparency in the upcoming presidential and national assembly elections. In a statement on Wednesday, IPC spokesperson, Immanuel Nashinge emphasised the need for independent local and international observers to oversee the process, free from conflicts of interest. “We demand that the ECN ensure complete transparency in all electoral preparations and processes. This includes allowing access to independent local and international observers with no conflicts of interest. We call on the Namibian government and Swapo to affirm their commitment to national sovereignty by…