Page 453 – News Stand

08 Mar

Namibia Dairies taking steps to conserve water

info_e12wt4csObserver Money

The City of Windhoek recently said the current estimates indicate that the Central Area of Namibia (CAN) will not have an adequate water supply to bridge the next two rainy seasons. Observer Money asked Namibia Dairies how it plans to cope with the situation. Observer Money (OM): What has Namibia Dairies done since the last drought to conserve water? Namibia Dairies (ND): Considering the challenges posed by recurrent drought conditions in our region, Namibia Dairies, a subsidiary of the Ohlthaver & List (O&L) group, has been unwavering in our commitment to water conservation. This dedication is not only a reflection…

08 Mar

Namibia had positive impact on Santam earnings

info_e12wt4csObserver Money

South Africa remains Santam Limited most significant contributor to Gross Written Premium (GWP) at 84% (2022: 85%), with GWP from this market increasing in line with inflation by 5% to R31.5 billion (2022: R30 billion). GWP from outside South Africa, written on the Santam Ltd and Santam Namibia Ltd licences, made up 16% (2022: 15%) of total GWP and grew by 7% to N$5.8 billion (2022: N$5.5 billion). Santam said growth in the proportion of business written outside of South Africa was hampered by the cancelled business at Santam Re. Santam said it once again demonstrated its resilience, achieving strong…

08 Mar

Guarantees to public enterprises reach N$9.3 billion

info_e12wt4csObserver Money

Government guarantees extended to public enterprises are expected to increase slightly to N$9.3 billion in the 2024/25 financial year compared to the revised estimate of N$9.1 billion in the 2023/24 financial year. Of these guarantees, N$2.2 billion was issued to domestic financial institutions while N$7.1 billion is issued to foreign lenders. For the subsequent years of the Medium Term Expenditure Framework (MTEF), total government guarantees are expected to rise to N$9.8 billion. The newly issued guarantees in the 2023/24 financial year were in support of entities such as Meatco and Namcor for business rescue and recapitalisation, and the Namibia Student…

08 Mar

Extra 110MW for power grid

info_e12wt4csObserver Money

CHAMWE KAIRA Namibia’s electricity’s supply is expected to have an additional 110MW locally generated supply by 2025. “This will be supported by more than three renewable energy power project expected to come-on stream by the end of 2025 with a combined power supply of around 110MW,” budget documents showed. The water and electricity sector is set to grow in 2024 and 2025. There are some developments around the solar powered storage-battery system pilot project to cater for the intensity of the UV rays in Namibia, as the current battery systems are not suitable to the Namibian climate as well as…

08 Mar

Oryx’s asset base increases to N$3.78 billion

info_e12wt4csObserver Money

Following the successful capital raise in July 2023 and the completion of the Dunes Mall acquisition, Oryx Properties’s total asset base has increased to N$3.78 billion. Despite the challenging micro- and macroeconomic conditions, Oryx Properties have maintained its optimism regarding Namibia’s future and are unwaveringly advancing toward fulfilling its strategy to expand the Oryx property portfolio. Ben Jooste, CEO of Oryx Properties Limited said that the group believes that the strategy and expansion of the Oryx portfolio will lead to increased shareholder value and distributions over the medium to long term. Profit for the period ending 31 December 2023 increased…

08 Mar

Fingerings tallying 1,2 million distributed

info_e12wt4csObserver Money

CHAMWE KAIRA The aquaculture sector produced about 1,253,807 in 2023 as compared to 1,355,000 target and distributed about 779,359 compared to 931,000 target of fingerlings of both distribution catfish and tilapia fish species at five aquaculture centres, according to the 24/25 – 2026/27 fiscal strategy for the medium term expenditure framework. The number of fish farmers and students supported was 257 fish farmers compared to the target of 100 target through training, advisory and extension services, provision of fish feed and fingerlings distribution. In terms of fingerling production and distribution, the programme met 94%, and 84% of the planned targets…

08 Mar

Gambling and gaming earns N$9.3 million

info_e12wt4csNational News

Ministry of Environment and Tourism earned N$9.3 million in 2022/2023 in 2022/2023 financial year from gaming and gambling activities. The ministry plans in the 2024/2025-2026/2027 financial years to secure approval for staff structure and budget in order to operationalize the Gambling Board of Namibia and Lotteries Board of Namibia. Tourism contribution to national GDP is estimated to reach a total N$46.8 billion during 2024/2025 – 2026/2027 financial years, according to the ministry. A total number of 1600 of applications for Environmental Clearance Certificates were received, of which 946 Environmental Clearance Certificates were issued for various activities. 150 sites were inspected…

08 Mar

Labour disputes see 48% settlement rate

info_e12wt4csNational News

The Ministry of Labour, Industrial relations and Employment Creation, achieved 48% of the targeted 67% of the prevention and settlement of industrial disputes, and workplace protection target in 2023. The ministry said a total of 4917 cases were handled through labour dispute resolution mechanism of which 2336 (48%) were resolved and 2 580 were still pending due to postponements. Conciliation remains the preferred method of resolving disputes, with 1 765 (76%) of the disputes resolved through conciliation, while 571 (24%) were resolved through arbitration, according to the ministry. The Employment Equity Commission received a total of 1 043 reports of…

08 Mar

Namibia takes one step closer to National Qualifications Standards Policy

info_e12wt4csNational NewsNamibia takes one step closer to National Qualifications Standards Policy

Niël Terblanché Namibia is on the cusp of adopting a national policy on qualifications standards for higher education institutions. The National Policy on Qualifications Standards Validation Workshop, a culmination of a comprehensive nationwide consultation process, was officially opened in Windhoek, signalling a crucial phase in the development of this landmark policy. Dr. Alfred van Kent, the Executive Director of the Ministry of Higher Education, Innovation, and Technology, voiced his optimism at the workshop, expressing hope that the policy would be implemented before the end of the 2024-2025 financial year. He said the workshop represents a key moment in Namibia’s education…

08 Mar

APRM Country Review Report lauds Namibia for governance achievements

info_e12wt4csNational NewsAPRM Country Review Report lauds Namibia for governance achievements

Niël Terblanché South African President Cyril Ramaphosa, who served as the Chairperson of the African Peer Review Forum from 2020 to 2022, has proudly presented the African Peer Review Mechanism (APRM) Country Review Report for Namibia, following the nation’s first Peer Review at the 31st Summit of the APRM Forum of Heads of State and Government on February 4th, 2022. The report, accompanied by a comprehensive National Programme of Action, marks a significant step in Namibia’s journey towards enhanced governance and socio-economic development. Ramaphosa said that since joining the APRM in 2017, Namibia has demonstrated unwavering commitment and substantial progress…