Page 474 – News Stand

23 Feb

No final decision on grey-listing ……… Namibia’s financial sector has assets exceeding US$5 billion

info_e12wt4csObserver Money

CHAMWE KAIRA The Financial Action Task Force (FATF) has not made a final decision on whether the country has successfully implemented sufficient reforms to avoid being grey-listed, Bryan Eiseb, director of the Financial Intelligence Centre (FIC), said this week. Media speculation this week said Namibia will be blacklisted by FATF. “The final has not been made yet,” said Eiseb. Early this week, Minister of Finance, Ipumbu Shiimi said Since December 2022, Namibia has been diligently working towards meeting international standards set forth by the Eastern and Southern African Anti-Money Laundering Group (ESAAMLG) and FATF. He said a comprehensive mutual evaluation…

23 Feb

In Memoriam: Big G’s enduring legacy in every aspect of this, that, and the other

info_e12wt4csFeaturedand the other, In Memoriam: Big G’s enduring legacy in every aspect of this, that

In a peculiar twist of destiny, two leaders with opposing ideologies find themselves entwined in a profound lesson of life. It is with deep regret that I convey my profound sense of loss for President Geingob, a cherished elder brother, esteemed friend, formidable adversary, parliamentary peer, and leader of our esteemed Republic. It is safe to say that I am profoundly moved by the colossal void left by the departure of this statesman, a paragon of both intellect and refinement. On August 26, 2002, a serendipitous encounter occurred at the Heroes Acre, where Paramount Chief Riruako and I found ourselves…

23 Feb

Dundee will not resubmit Osino offer

info_e12wt4csObserver Money

Dundee Precious Metals (DPM) Inc. this week acknowledged receipt of notice from Osino Resources Corp that a foreign-based mining company has made a binding proposal to acquire all of the issued and outstanding common shares of Osino for a purchase price of Canadian Dollars (C$)1.90 per share payable in cash. Osino has further advised DPM that its board of directors has determined that the new proposal constitutes a superior proposal as defined in the arrangement agreement between DPM and Osino dated 17 December 2023. Pursuant to the terms of the Arrangement Agreement, DPM had previously agreed to acquire all of…

23 Feb

A Walk Down Memory Lane: The Hage I Remember

info_e12wt4csFeaturedA Walk Down Memory Lane: The Hage I Remember

Henning Melber My first personal encounter with Hage happened in the early 1980s. At the time I was a member of the Namibia Project at Bremen University. My task was – with Nangolo Mbumba, then Deputy Secretary for Education and Culture, as my local counterpart – to conceptualise and draft a textbook for schools in the Swapo refugee camps (published later as Our Namibia – A Social Studies Textbook also by Zed Press and at Independence in a Japanese translation). The preparations included a visit to Nyango and stays at the UN Institute for Namibia in Lusaka. Hage as the…

23 Feb

Uranium outlook looks good

info_e12wt4csNational News

CHAMWE KAIRA The global uranium footprint is expanding with ever increasing number of governments turning to nuclear power, Deep Yellow, Managing Director, John Borshoff has said. He disclosed that Belgium has reversed its decision to shut down reactors in 2025 and has now extended the deadline to 2036 and also plans to build two more reactors. Furthermore, Italy plans to introduce nuclear, as early as 2032 while Bulgaria announces plans to build four new reactors. Borshoff added that France accelerating construction of 14 new generation reactors while the United Kingdom is accelerating nuclear commitment and has planned 25% nuclear by…

23 Feb

Tourism to be top performer in 2024

info_e12wt4csObserver Money

The tourism industry could potentially be one of the strongest performing sectors of the Namibian economy in 2024, according to Simonis Storm Securities. The firm said although business and conference tourism still lag behind 2019 levels, there is potential for significant growth, especially as certain hospitality establishments are poised to accommodate guests attending events such as The Africa Hospitality Investment Forum (AHIF) and the AviaDev Africa event. Organisers of the AviaDev Africa event have announced that 26 airlines have registered to participate so far, suggesting significant interest and the potential economic impact particularly in the tourism and hospitality industry. In…

23 Feb

The essence of business transformation and strategy

info_e12wt4csObserver Money

MIGNON DU PREEZ Corporate transformation and strategy are more than simply buzzwords in the rapidly evolving corporate world; they are essential to long-term success. In addition to keeping up, those that understand the value of strategic planning and transformation also lead with an unwavering vision for greatness. Business transformation is a significant movement that fundamentally alters the way organisations operate, going beyond simple adjustment. In a world where flexibility is essential, companies that embrace change gain an advantage. It involves reevaluating procedures, making intelligent use of technology, and cultivating an innovative culture. Corporate leaders are aware that this is a…

23 Feb

Airlink pays tribute to Geingob

info_e12wt4csObserver Money

Airlink is deeply saddened by the news of the unexpected passing of President Hage Geingob. “On behalf of everyone at Airlink, I extend our sincerest condolences to the late President Geingob’s family, his loved ones and Namibians everywhere, on the loss of a loyal servant of the Namibian people, a valiant fighter and committed campaigner for Namibia’s independence and self-determination, and a champion of inclusivity, democracy and constitutionally-led values,” said Rodger Foster, CEO and Managing Director of Airlink. Foster said Geingob said appreciated the airline’s sector’s role in unlocking the potential of tourism, trade, commerce and cultural ties. He saw…

23 Feb

Judiciary warns judges amidst Presidential succession debate

info_e12wt4csNational NewsJudiciary warns judges amidst Presidential succession debate

Hertta-Maria Amutenja The Namibian Judiciary has issued a stern warning to judges, to refrain from public discussions on constitutional matters outside of formal judicial contexts. Amid the recent swearing-in of Namibia’s fourth President, Nangolo Mbumba, following the untimely passing of former President Hage G. Geingob, the constitutional intricacies surrounding Mbumba’s ascension have taken centre stage, triggering legal scrutiny and public discourse. “The Namibian Constitution vests judicial authority in the Courts of the Republic. As such, it is inappropriate for Judges to publicly discuss issues relating to the interpretation of the Constitution outside of a formal judicial context,” warned, Deputy Director…

23 Feb

Nampol strengthens security ahead of Geingob’s funeral

info_e12wt4csNational News

Niël Terblanché Lieutenant General Joseph Shikongo, the Inspector General of the Namibian Police, assured both Namibians and international visitors of their safety and security ahead of the upcoming weekend during a decisive address at the Otjomuise Police Station in Windhoek. With numerous dignitaries from around the globe expected to arrive in Windhoek for the solemn occasion of laying President Hage Geingob to rest the period is particularly significant for safety and security. Shikongo’s announcement was made during the launch of a joint operation with the Windhoek City Police, aimed at amplifying police visibility throughout the capital. The General reiterated the…