Page 507 – News Stand

01 Dec

Alpha extends publication of results

info_e12wt4csObserver Money

Alpha Namibia Industries Renewable Power Limited (ANIREP) told its shareholders and the general public this week that the ongoing rights offer process has delayed the preparation and finalisation of its interim financial statements for the half year ended 31 August. Consequently, ANIREP said it would not be in a position to publish its interim report for the six months ended 31 August 2023 within three months, as required in terms of the Namibia Stock Exchange listings requirements. Accordingly, ANIREP said it had obtained formal approval from the Namibian Stock Exchange (NSX) to delay the publication of its audited financial statements…

01 Dec

Tuma uranium project targets 30-year lifespan

info_e12wt4csObserver Money

Chamwe Kaira Deep Yellow Limited recently revealed that an updated Mineral Resource Estimate for the Tumas 3 Deposit in the Erongo Region's EPL3496 indicates the potential for an additional 25 million pounds of uranium oxide. This discovery has the potential to extend the Life of Mine for the Tuma uranium project to over 30 years. The final investment decision is anticipated in the first half of next year. Owned by Deep Yellow's subsidiary, Reptile Uranium Namibia (Pty) Ltd, the deposit underwent a drilling programme west of Tumas 3. The focus was on expanding the current resource towards Tumas 3 West…

01 Dec

Standard Bank performing well in Africa

info_e12wt4csObserver Money

Standard Bank said this week that Africa regions continued to perform very well and delivered strong earnings growth period on period in both reported and constant currency, the bank said in a report to the ten months to 31 October. Africa regions' contribution to group headline earnings for the period was 44 percent. The bank said while higher average interest rates continued to support net interest margin, net interest margin expansion has slowed in recent months given that the interest rate increases seen in the second half of 2022 are now embedded in the base. Lower demand, reduced affordability, and…

01 Dec

DBN appoints Mutenda as its new CFO

info_e12wt4csObserver Money

Martin Endjala The Development Bank of Namibia (DBN) yesterday announced the appointment of Nicky Katapa Mutenda as its new Chief Financial Officer (CFO). Mutenda will assume his role on December 18, 2023, and is expected to serve for five years. John Steytler, DBN's Chief Executive Officer, said that Mutenda's appointment followed a thorough selection process conducted by a panel consisting of six distinguished individuals from the DBN Board and external experts. Steytler expressed firm confidence in Mutenda, recognizing him as a capable candidate who would contribute to the bank's success and growth. Mutenda brings more than 11 years of experience…

30 Nov

Afrocat Sports Club Beach Volleyball League Wraps Up a Successful Season

info_e12wt4csSportsAfrocat Sports Club Beach Volleyball League Wraps Up a Successful Season

Windhoek, Namibia - The Afrocat Sports Club Beach Volleyball league, a platform for emerging talents, successfully concluded its inaugural season on November 25, 2023. The league, which kicked off on October 7, proved to be a pivotal initiative in nurturing aspiring athletes from the suburbs of Windhoek. Sponsored by OTB Namibia - Trophies & Medals, with Switch Energy Drink - Namibia and Architectural Outlet backing the event by sponsoring playing attires, the league attracted participants from the Central Volleyball Association, DTS Beach Volleyball players, and enthusiastic athletes from Afrocat SC. “Managing diverse schedules among learners, students, and employed individuals was…

30 Nov

Electricity Distribution Industry reform stalls due to revenue losses

info_e12wt4csMain

Martin Endjala Robert Kahimise, the Chief Executive Officer of the Electricity Control Board (ECB), has disclosed that the implementation of the Electricity Distribution Industry (EDI) reform faced significant challenges, including revenue losses incurred by Local Authorities and Regional Councils. Kahimise made this announcement while presenting the outcomes of the recently concluded EDI summit held in Windhoek from November 16th to 17th, 2023. The primary objective of the summit was to review government policies concerning the establishment of the remaining Regional Electricity Distribution (RED) companies and to address the deficiencies in the legal and regulatory framework, local authority surcharges, and the…

30 Nov

“A country without entrepreneurs is like an army without soldiers”: Shiimi

info_e12wt4csNational News“A country without entrepreneurs is like an army without soldiers”: Shiimi

Martin Endjala The Minister of Finance and Public Enterprise, Iipumbu Shiimi, delivered a powerful message during the Good Business Awards held by the Development Bank of Namibia in Windhoek on Tuesday. He emphasized the critical role entrepreneurs play in a country’s development, likening them to soldiers in an army. Shiimi stated, “Any country that does not have entrepreneurs is like an army without soldiers, and you can never win a war if you don’t have soldiers.” He highlighted the significance of entrepreneurs in wealth creation, job opportunities, and providing livelihoods for others. He added that those who venture into the…

30 Nov

Kavango school infrastructure fails learners with disabilities

info_e12wt4csNational NewsKavango school infrastructure fails learners with disabilities

Hertta-Maria Amutenja National Council Member, Bertha Dinyando has shed light on the ongoing challenges faced by learners living with disabilities in the Kavango West and East regions. Despite the presence of special schools with infrastructure and support systems supposedly designed to accommodate these students, significant issues persist. Dinyando stressed the urgent need to address these difficulties faced by children in the region. She pointed out multiple areas where improvement is necessary. “For instance, the infrastructure of the schools and hostels is not disability-friendly. Caregivers and matrons lack proper training to assist learners with special needs, particularly those who are visually…

30 Nov

Politicians welcome public oral interviews for judges before appointments

info_e12wt4csNational NewsPoliticians welcome public oral interviews for judges before appointments

Stefanus Nashama Policymakers Josef Kauandenge of the National Unity Democratic Organisation (NUDO) and Maximalliant Katjimune of the Popular Democratic Movement (PDM), said they are happy with the decision of Chief Justice Peter Shivute to allow the Judicial Service Commission (JSC) to conduct public interviews for judges before they are appointed. Expressing his views on the decision, Kauandenge asserted that the country has reached a transparent development in the independence of the judicial. “This is a welcome development long overdue,” he said. He highlighted that it is in the public interest for the JSC to be above reproach and ensure judges…

30 Nov

Boots are on the ground to keep the Erongo Region safe

info_e12wt4csNational NewsBoots are on the ground to keep the Erongo Region safe

Niël Terblanché Hundreds of spectators lined the streets of Walvis Bay as the Namibian Police marched past in preparation for celebrations commemorating 33 years of existence as a force. The Namibian Police in the Erongo Region will celebrate the 33rd Police Day today. Inspector Ileni Shapuma, the Head of the Community Affairs Division of the Namibian Police, mentioned that the celebrations would be preceded by various other activities. One such activity was a street procession, where members of the force marched from the Kuisebmond Soccer Stadium to the Civic Centre in the heart of Walvis Bay. The parade and march…