NBL’s beverage categories grow

NBL’s beverage categories grow

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…
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Bank Windhoek gets stable outlook rating

Bank Windhoek gets stable outlook rating

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…
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Oryx property portfolio valued at N$4.1 billion

Oryx property portfolio valued at N$4.1 billion

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…
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Inflation expected to stabilise at 4.7%

Inflation expected to stabilise at 4.7%

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…
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Namdeb announces new corporate affairs manager

Namdeb announces new corporate affairs manager

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…
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Deep Yellow appoints Jim Morgan to head projects

Deep Yellow appoints Jim Morgan to head projects

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

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

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…
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Samherji subsidiary rejects Heinaste fishing crew’s wage claims

Samherji subsidiary rejects Heinaste fishing crew’s wage claims

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…
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IPC calls for transparency in November elections

IPC calls for transparency in November elections

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…
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MJA deeply concerned about safety at courts

MJA deeply concerned about safety at courts

Niël Terblanché The Magistrates and Judges Association of Namibia (MJA) expressed deep concern over an arson attack on the Gobabis Magistrate Court on 1 October 2024 noting that it exposes a troubling gap in the security of court premises across Namibia. The association successfully concluded its Annual General Meeting (AGM) on 25 September 2024 in Swakopmund, announcing the appointment of a new Executive Committee tasked with advancing the association’s mission. One of the primary concerns raised during the AGM was the critical issue of judicial safety, which has come to the fore after a concerning arson attack at the Gobabis…
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