Page 47 – News Stand

06 Mar

Siyauya to be laid to rest next Wednesday

info_e12wt4csSports

Erasmus Shalihaxwe The Namibian Football Association (NFA) General Secretary, Charles Siyauya, will be laid to rest at Bukalo Village in the Zambezi region on 11 March. The NFA announced the funeral arrangements on Thursday. Siyauya passed away on Monday after a short illness at a local hospital in Windhoek. The NFA’s spokesperson, Isack Hamata stated that a book of condolences is available at Soccer House in Katutura for members of the public wishing to pay their respects to the former football administrator. The first memorial service will be held at the NFA Technical Center in Katutura on Friday at 14h00. …

06 Mar

Tackling poor sanitation is a critical step toward a healthier cleaner and, more prosperous Namibia

info_e12wt4csFeatured, Opinions

Wayambekange N Hamufenhu Sanitation is often overlooked and remains largely invisible to many, yet it has far-reaching consequences. We face an invisible enemy that impacts millions of Namibians daily: “inadequate sanitation”. Despite the undeniable connection between sanitation and improvements in public health, economic productivity, education, and environmental sustainability, this critical issue remains underfunded, overlooked, and inadequately addressed. For Namibia to secure a prosperous future, it must recognize sanitation not just as an infrastructure need but as a foundational pillar of development. The country must confront this issue head-on by investing more resources and adopting a multisectoral approach to tackle the…

06 Mar

Tatekulu’s legacy is not about holding on to, abetting capitalism!

info_e12wt4csOpinions

Kae Matundu-Tjiparuro “Celebrating a Revolutionary, Honouring an African Icon” has been the theme during the mourning of the passing of the Founding President and Father of the Nation, Dr. Sam Shafiishuna Nujoma. Indeed, such accolades are befitting of Tatekulu given his dedication to Namibia’s liberation struggle, following in the footsteps of nationalists such as Ovaherero Ombara Otjitambi, Hosea Katjikururume Komombumbi Kutako, and others. Pathfinders and pioneers of the resistance movement who passed on the baton to the Kaukuetus, Nujomas, Garoës, and Beukeses, steering the cause all the way to the country's freedom and independence on the 21st of March, 1990.…

06 Mar

The end of an old era and the re-birth/re-surrection of a new era; Founding President Nujoma, the quintessential pan-africanist

info_e12wt4csOpinions

P T SHIPALE I. PROLOGUE Once again, let me repeat here that it is as if the departure of the Founding President was well-orchestrated by the ancients of days for his burial to take place on the 1st of March 2025 coinciding with the day on which he crossed the border fence into the British Bechuanaland Protectorate, on the 1st of March 1960. The 1st of March 1994, it was the re-integration of Walvis Bay and the offshore islands to Namibia. There is also the date of 21st March. In a bid to test South Africa’s claims at the International…

06 Mar

NamPower plans N$15.6 billion expenditure

info_e12wt4csObserver Money

CHAMWE KAIRA NamPower plans to spend N$15.6 billion on capital projects over the next five years. The company presented figures during a stakeholders meeting on Wednesday. The company warned that load shedding would harm the economy and explained its commitment to supplying energy at all costs to avoid such negative impacts. Rising commodity prices, which have surged significantly above inflation, and increasing funding costs were also highlighted as challenges. This year, the Electricity Control Board (ECB) withdrew its approval for an 8% tariff increase for 2025. NamPower said if allowed, it would have applied for an 8.7% increase. The company…

06 Mar

FirstRand expects muted growth in second half

info_e12wt4csObserver Money

CHAMWE KAIRA FirstRand Namibia has said while the Namibian economy faces some near-term challenges, there are strong reasons for optimism heading into 2025. The firm said certain key sectors in the primary industry, such as oil and gas exploration, uranium, copper and agriculture, coupled with supportive policy measures, should lay the foundation for sustained economic growth in the medium term, according to the FirstRand consolidated interim financial results and cash dividend declaration for the period ended 31 December 2024. The group remains well positioned to participate in opportunities in the oil and gas sector as they emerge, the firm said. …

06 Mar

SACU’s N$7 billion inflow drives reserves

info_e12wt4csObserver Money

CHAMWE KAIRA The Bank of Namibia’s stock of international reserves increased at the end of January and rose to N$64.3 billion, reflecting a month-on-month increase of 2.1%. The monthly increase in reserves was predominantly driven by inflows of N$7 billion from SACU. This level of international reserves translates into 4.2 months of import cover. When excluding oil exploration and appraisal activities, which are mainly financed from abroad, it stood at 5.2 months of import cover at the end of January, the central bank stated. Banking industry cash holdings increased in January, with cash balances within the banking industry increasing to…

06 Mar

Agra expects higher earnings

info_e12wt4csObserver Money

CHAMWE KAIRA Leading agriculture and Namibia Stock Exchange-listed company Agra expects profit after tax, basic earnings per share and headline earnings per share for the interim period ended 31 January 2025 to increase by between 45% and 55% compared to the previous period. “This trading statement has not been reviewed or reported on by Agra’s auditors and shareholders are advised to exercise caution when dealing in the shares until the publication of the interim financial results for the year ended 31 January 2025. The interim results will be released on or about 14 March 2025,” Agra said. In the financial…

06 Mar

Property market showing improvement

info_e12wt4csObserver Money

CHAMWE KAIRA Oryx Properties Limited is of the opinion that the property market continues to show improvements supported by a projected expansion of the Namibian economy by 4% in 2025. The company said in unaudited interim results for the six months ended 31 December 2024 that the positive economic trajectory is driven by urban development and infrastructure projects, which continue to increase demand for both residential and commercial properties. “Our strategic investments in high-growth areas, growth momentum in line with our strategy and our commitment to sustainable building practices position us well to capitalise on these trends,” the company said.…

06 Mar

Copper largest contributor to deficit

info_e12wt4csObserver Money

CHAMWE KAIRA Copper ores and concentrates emerged as the largest contributor to the country’s trade deficit, having recorded a deficit of N$1.5 billion in January. Following in second place was petroleum oils, which posted a deficit of N$1.0 billion, while aircraft and associated equipment ranked third after posting a deficit of N$469 million. Contrary to the deficits, the country recorded trade surpluses on non-monetary gold amounting to N$1.8 billion. The second and third places were occupied by uranium and fish, which recorded trade surpluses of N$1.4 billion and N$1.2 billion, respectively; this is according to the Namibia International Merchandise Trade…