Page 419 – News Stand

18 Apr

CPBN awards tenders worth N$6,4 billion

info_e12wt4csObserver Money

The Central Procurement Board of Namibia (CPBN) awarded contracts to the value of N$6,4 billion in the 2023-2024 financial year. CPBN’manager of stakeholders engagement, Johanna Kambala told Observer Money that the board continues to empower Namibians in the award of procurement contracts. Observer Money (OM): How many procurement contracts did CPBN award in 2023? Johanna Kambala (JK): CPBN: In total, the Central Procurement Board of Namibia awarded forty-five (45) procurement contracts during the financial year 2023-2024 to the value of N$6,4 billion. Thirty-nine (39) of these awards to the value of N$5,5 billion were awarded to 100% Namibian owned companies,…

18 Apr

Paratus gets new shares approval from CRAN, NCC

info_e12wt4csObserver Money

CHAMWE KAIRA Paratus Namibia Holdings Limited informed shareholders that it has obtained the necessary regulatory approval from Communications Regulatory Authority of Namibia (CRAN) and the Namibian Competition Commission in order for Paratus Group Holdings Ltd to underwrite the Rights Issue on 20 May. A Rights Issue is when a company offers its existing shareholders the chance to buy additional shares for a reduced price. Usually the discounted price will stand for a specified time frame, after which it is returned to normal. “Pursuant to the announcement of the results of the general meeting of the shareholders released on NENS (Namibia…

18 Apr

Windhoek working to avert water crisis

info_e12wt4csObserver Money

The City of Windhoek has announced water crisis restrictions as part of a drought response plan. Residents and businesses will be required to save 10% of their consumption effective from 1 July. City of Windhoek’s spokesperson, Lydia Amutenya explained to Observer Money that for the city to have enough water, the dams require one good rain season to have sufficient water while the Windhoek aquafer requires at least three good rain seasons to have enough water. Observer Money (OM): In terms of water consumption in Windhoek, how much do commercial and industry processes consume? Lydia Amutenya (LA): Domestic Consumers consume…

18 Apr

Anglo American sells diamonds worth US$445m

info_e12wt4csObserver Money

Anglo American rough diamond sales amounted to US$445 million in the third cycle of 2024.The mining giant also operates in Namibia through the 50/50 joint venture between the government and De Beers. Anglo American has joint ventures with the Namibian government in Namdeb, Debmarine Namibia and the Namibia Diamond Trading Company. The company said the provisional rough diamond sales figure quoted for Cycle three represents the expected sales value for the period and remains subject to adjustment based on final completed sales. Al Cook, CEO of De Beers, said: “Many diamond businesses are continuing to take a cautious approach to…

18 Apr

Galp to focus exploration on Namibia

info_e12wt4csObserver Money

Portuguese energy company, Galp Energia, has disclosed that it is is de-risking exploration opportunities already in its portfolio and moving exploration focus to other countries, which includes Namibia. GalP will focus on the areas in Namibia and São Tomé and Príncipe, and act on high potential resources that may prove economically and sustainably feasible, the company has stated in its 2023 annual report. Throughout 2023, Galp prepared the current exploration campaign in PEL 83 offshore Namibia, securing key contracts and licences, and mobilising its forces to safely initiate a two back-to-back exploration wells campaign in November 2023. Galp said already…

18 Apr

Do you know the value of your art?

info_e12wt4csObserver Money

Strauss & Co, Africa’s leading art auction house, has announced that they will be hosting a free valuation day in Windhoek on 29 April 2024. This event presents residents with an exclusive opportunity to have their artworks assessed and valued by experts. The valuation day will take place at The Stellenbosch Wine Bar and Bistro, Tasting Room, Bougain Villas, 320 Sam Nujoma Drive, between 14h00 and 17h00. Strauss & Co said whether you are looking to insure your collection, sell an artwork, or simply satisfy your curiosity, Strauss & Co offers a range of valuation methods tailored to client’s needs.…

18 Apr

Namibia reinforces support for Cuba against U.S. blockade

info_e12wt4csNational NewsEsteban Lazo

Niël Terblanché The President of the National Assembly of People's Power of Cuba, Esteban Lazo, has expressed gratitude towards Namibia for its strong stance against the economic blockade on Cuba by the United States of America. Lazo acknowledges this solidarity and support on his the X social media platform on Tuesday. "We appreciate the motion approved today unanimously by the National Assembly of Namibia against the blockade imposed by the United States government against Cuba, another of the displays of solidarity historically received from this brother country," he said. On Monday, Namibia's legislature passed a unanimous motion calling for the cessation of…

18 Apr

Exploring Namibia’s energy potentia

info_e12wt4csObserver Money

ANGELIQUE PEAKE AND OLAVI HANGULA Implementing a robust local content policy in the oil and gas industry isn’t just about extracting resources; it is about empowering local economies and fostering sustainable growth. By prioritising local manufacturing and supporting sectors, we not only fuel industrial development but also cultivate a thriving ecosystem of opportunity and prosperity for generations to come. There has been significant talk surrounding the recent oil discoveries offshore the Namibian coast, sparking both excitement and disbelief. As reality begins to set in, it’s clear that strategic planning and collaboration among stakeholders is essential to maximise the benefits of…

18 Apr

Namibia urges restraint in escalating Middle East tensions

info_e12wt4csNational News

Niël Terblanché In light of recent unsettling developments in the Middle East, the Namibian government has voiced deep concern over the potential for escalating conflict in the region, which could have broader global repercussions. Dr Peya Mushelenga, Namibia’s Minister of International Relations and Cooperation, stressed the importance of restraint and diplomatic engagement to avoid further destabilization. Mushelenga highlighted the series of attacks, counterattacks, and threats of reprisals that have marred the region, noting these actions are detrimental to the pursuit of peace - a fundamental principle enshrined in the UN Charter and upheld by its members. "Such aggressive actions are…

18 Apr

Lack of fuel hampers Police patrol in Terrace Bay

info_e12wt4csNational News

Erasmus Shalihaxwe Police officers in Terrace Bay are sometimes unable to patrol along the sea due to a fuel shortage in the town, which can last for a week. Parliamentary Standing Committee on Economics and Public Administration revealed this in its report on the oversight visits to the Skeleton Coast in Erongo and Kunene regions. The report stated that the police barracks where officers are accommodated had broken windows due to strong winds and a dilapidated roof. There is a lack of hot water, and officials are forced to use cold water despite the weather conditions in the town being…