Page 373 – News Stand

06 Jun

Orphanages excluded from grant increase

info_e12wt4csNational News

Hertta-Maria Amutenja Orphanages and child welfare organisations have expressed their dissatisfaction with the exclusion of vulnerable children and orphans from an increase in basic state grants for old age pensions, people with disabilities, and children, which is set to take effect in August. The Ministry of Gender Equality, Poverty Eradication, and Social Welfare (MGEPESW) made this announcement this week. The assistant caretaker of the Megameno Orphanage in Katutura, Jeremiah Shaalukeni, expressed his disappointment, stating that the lack of an increase in grants for orphans is unfortunate. "There are so many challenges faced by orphans and vulnerable children. The application process…

06 Jun

LPM yet to find replacements for Seibeb and Isaacks

info_e12wt4csNational News

Ester Mbathera The Landless People’s Movement (LPM) is yet to find replacements for Henny Seibeb and Edson Isaacks, who resigned from the party and Parliament on Tuesday. On Thursday, the party spokesperson, Lifalaza Simataa, said that the party leadership is still consulting on the matter. “The party's top leadership is currently engaging in meetings on how to proceed with this matter with relevant stakeholders to ensure the party follows all appropriate procedures and works within protocol given the circumstances of the street resignation, its validity in the process, and the steps the party should take,” he said. He stated that…

06 Jun

Ghost chasing not allowed at Oshigambo High

info_e12wt4csMain

Martin Endjala The Oshigambo High School in the Oshikoto Region will not tolerate a student who violates other students' rights by waking them up at night to chase illusional ghosts around the school hostel. The school principal, Pinehas Ekongo, said this following recent accusations of religious discrimination, segregation, and psychosocial torture against the learners at the school by the Body of Christ Party of Namibia (BCP), a faith-based political organisation’s president, Bishop Festus Thomas. “To the best of my knowledge, no parent has ever pledged to send us a learner - a pastor - to chase around ghosts at the…

06 Jun

More jobs at Ministry of Agriculture

info_e12wt4csFeatured

More than 110 positions are available at the Ministry of Agriculture, Water and Land Reform. Ndiyakupi Nghituwamata, the ministry's executive director, announced on Thursday that the positions would be advertised in local print media on Friday. These positions have been approved to be filled during this financial year. Nghituwamata stated that the Ministry aims to fill close to 280 positions within the 2024/25 financial year. In the 2023/24 financial year, the Ministry had a target of filling 260 positions, and they successfully recruited over 240 new staff members, including those for promotional posts.

06 Jun

Osino will need N$7 billion for mine construction

info_e12wt4csObserver Money

Heye Daun, President and CEO of Osino Resources talks to Observer Money about Yintai Gold of China taking over the company, benefits of the deal to Namibia and why Osino accepted the takeover by Yintai Gold. Observer Money (OM): Yintai Gold is in the process of taking over Osino Resources soon, the deal will of course benefit shareholders in monetary terms but how does it benefit Namibia, will the government benefit in taxes from the deal? We are talking about capital gains tax. Heye Daun (HD): Namibia has benefited and will continue to benefit from Osino since inception, having attracted…

06 Jun

500 MW renewable plant planned for Erongo

info_e12wt4csObserver Money

CHAMWE KAIRA The Erongo Region may soon see the establishment of one of the biggest renewable projects in the country, documents obtained by Observer Money have shown. Green Earth Environmental Consultants have been appointed by ISF Trading Enterprises (Pty) Ltd to complete an Environmental Impact Assessment (EIA) and Environmental Management Plan (EMP) in order to obtain an Environmental Clearance Certificate to construct and operate a green energy complex (including a 300 000 BPSD oil refinery, 500 MW renewable energy power plant and related storage tank farms. The power plant will be a gas to power plant, according to the documents.…

06 Jun

Namibia export’s to Mauritus worth N$247m

info_e12wt4csObserver Money

Namibia exported goods worth N$247,7 million to Mauritus during the period 2015 to 2023, while on the demand side, goods amounting to N$710,6 million over the same period were sourced from Mauritius, the Namibia Statistics Agency said. Mauritus is a member of Southern African Development Community (SADC) just like Namibia. During April, Namibia exported to the whole of Africa goods worth N$4,9 billion and imported goods of the same value of N$4,9 billion. Exports to Mauritius stood at N$3 million with fish topping the list of commodities exported with a contribution of 88%. Namibia imported goods amounting to N$9 million…

06 Jun

RMB seeking to fund mining projects

info_e12wt4csObserver Money

CHAMWE KAIRA RMB Namibia has continued to engage prospective mining projects, as well as the existing operations as the company pursue different investment opportunities, including extending life of mine, private power and capital equipment replacement, Jason Shikalepo, Head of Investment Banking at RMB Namibia told Observer Money. He disclosed that the RMB has been backing the mining sector since inception, and today supports a number of the mining operations in Namibia for their various banking, funding and risk management needs. “In recent years, we have arranged and funded mining operations involved in diamond, uranium, gold and zinc commodities, to mention…

06 Jun

International reserves increase to N$56,3 billion

info_e12wt4csObserver Money

The stock of international reserves increased by 3,7% month-month to N$56,3 billion as at end of April. The increase stemmed from higher SACU receipts, as well as an increase in customer foreign currency inflows. The foreign reserves translated into four months of import cover, continuing to remain above the international benchmark of three months and adequate to support the Namibia dollar and the South African rand currency peg. Notably, the import cover excluding imports of oil exploration and appraisal activities stood at 4,7 months at the end of April, relative to 4,4 months recorded at the end of March. Growth…

06 Jun

B2Gold spent US$105m on local expenditure

info_e12wt4csObserver Money

CHAMWE KAIRA B2Gold said in its ‘Responsible Mining Report 2023’ that the Otjikoto Mine has consistently focused on improving local procurement levels since initial construction. The company said in 2023, 61% of the procurement came from in-country purchases, with approximately 3,7% out of onshore purchases spent directly on small- and medium-sized enterprises within the mine’s area of influence. B2Gold Namibia has over 1400 suppliers enrolled in its database, of which approximately 95% are Namibian registered and 4% are South African registered. In 2023, the total expenditure at the national level was US$105 million. Otjikoto said it also encourages its suppliers…