Page 571 – News Stand

01 Sep

Letshego’s profit sees a 2% rise to N$171m

info_e12wt4csObserver MoneyLetshego's profit sees a 2% rise to N$171m

Chamwe Kaira In its interim results for the first half of 2023, Letshego Holdings (Namibia) Limited announced an increase in profit after tax, reaching N$171 million compared to N$168 million in the previous year, marking a 2% growth. The company's performance led to the declaration of a dividend amounting to N$224.5 million in June 2023. Chairperson Maryvonne Palanduz and Chief Executive Officer Ester Kali stated that the company experienced a substantial 14% surge in total revenue compared to the same period the previous year. This surge was propelled by a 16% rise in interest income, accompanied by a robust 11%…

01 Sep

Mining sector employed 16 147 people in 2022

info_e12wt4csObserver Money6.9% in 2022, Debmarine Namibia, Mining sector employed 16 147 people in 2022

Chamwe Kaira Total direct employment in the mining industry increased by 6.9% in 2022 and the sector collectively employed 16,147 people. The increase was a result of the new employment positions created on Debmarine Namibia’s new mining vessel and increased exploration activities. The direct employment consisted of 8,391 permanent employees, 742 temporary employees and 7,014 contractors, the Chamber of Mines of Namibia announced this week. The mining sector recorded another year of strong growth in 2022 of 21.6%, compared to 11% in 2021. The industry also significantly increased its relative share and importance to the Namibian economy by growing its…

01 Sep

Menzies Aviation loses bid to stay on at HKIA

info_e12wt4csFeaturedMenzies Aviation loses bid to stay on at HKIA

Niel Terblanche HIGH Court Judge, Hannelie Prinsloo this morning dismissed an application of Menzies Aviation Namibia where the British-owned company appealed against being evicted from the Hosea Kutako International Airport on 19 August 2023 with costs and removed the matter from the roll. The judge found that Menzies had no legal right to insist on continuing to provide ground handling services at the airport and that the company had no legal right to further occupy any premises of the Namibia Airports Company at the airport. The judge also found that the Namibia Airports Company was fully entitled to enforce the…

01 Sep

Government to dispose 600MT of monk fish

info_e12wt4csObserver MoneyGovernment to dispose 600MT of monk fish

Chamwe Kaira The government plans to disposal 600 metric tons of Monk Freezer Fish to the highest bidder. This is part of the governmental objective to auction fish quotas to the highest bidder. The Ministry of Finance and Public Enterprises and the Ministry of Fisheries and Marine Resources has invited bidders for 600 metric ton of Monk Freezer Fish on the following conditions bids must be in multiples of 100 metric ton with a minimum price of N$10 000 per MT of monk freezer fish. The ministry said quota will be allocated to the highest bidders at their bid-price, ascending…

01 Sep

Lest we take projects like Green Hydrogen on face value!

info_e12wt4csOpinionsLest we take projects like Green Hydrogen on face value!

CAN more jobs creation, and even what one may consider increased investment flow lead to increased, better and/or requisite socio-economic transformation that Namibia craves for, and has been even since independence been so much desirous of and for, which indeed was, is and must be the essence of independence? Yours Truly Ideologically cannot but raise this pertinent question, especially at the backdrop of the recent oil and gas conference last month, where some Namibian ministers delivered what they presented. But their deliveries at the said conference, more than charting the way forward, in terms of the country’s let alone the…

01 Sep

Menzies is tainting Namibia’s sovereign reputation

info_e12wt4csNational NewsMenzies is tainting Namibia’s sovereign reputation, Swapo Youth League

Niël Terblanché The Hosea Kutako International Airport (HKIA) is a strategic entry point to Namibia and by not complying with a recent Supreme Court order, British-owned Menzies Aviation Namibia is painting a negative image of the country. Ephraim Nekongo, the Secretary of the Swapo Youth League said the company’s actions are also compromising Namibia’s sovereignty and security. “We call on all patriotic forces to unite and reject the imperial posture of Menzies,” the youth leader said in a statement. The recent actions of Menzies Aviation at the HKIA have ignited a wave of condemnation from a wide variety of corporate…

01 Sep

Namibia needs to upscale its artisan skills: Kasete

info_e12wt4csNational NewsNamibia needs to upscale its artisan skills: Kasete

Martin Endjala Chambers of Mines President, Zebra Kasete, has implored Government and industry players to reinvigorate artisan training programmes in the country to upscale skills to align them with the demands of emerging industries such as oil and gas and green energy. He said artisans in Namibia have good entry skills, but lack expertise in new industries which could be a serious concern if not addressed immediately. Kasete made this call on Wednesday at the official opening of the 10th Mining Expo in Windhoek under the theme “Namibia’s Role in the Sustainable Supply of Minerals to Support the Global Energy…

01 Sep

Solar Revolving Fund targets to finance 400 off-grid households

info_e12wt4csNational NewsBryan Eiseb, e Executive Director of the Ministry of Mines and Energy, Solar Revolving Fund targets to finance 400 off-grid households

Martin Endjala The Executive Director of the Ministry of Mines and Energy, Bryan Eiseb, has announced that the Solar Revolving Fund (SRF) aims to finance 400 off-grid households during the current financial year. Eiseb made the announcement on Wednesday during the launch of the service level agreement between the ministry and the Northern Regional Electricity Distributor (NORED) at the Ongwediva Annual Trade Fair. He said for this objective to be achieved, the ministry has established strategic alliances with various Regional Electricity Distributors that allows consumers living in known areas to make use of available financing program and subsidy, to enable…

01 Sep

CRAN Board commits to performance agreements

info_e12wt4csNational NewsCRAN Board commits to performance agreements, Dr Peya Mushelenga

Niël Terblanché The Communications Regulatory Authority of Namibia (CRAN), has taken a decisive step towards enhancing governance and accountability by signing Performance and Governance Agreements. The signing ceremony, overseen by ICT Minister, Dr Peya Mushelenga, signifies a commitment to transparent and effective operations in the best interest of the Namibian public. During the signing ceremony, Mushelenga emphasized the importance of acting with fairness, good faith and transparency. The minister urged the directors to prioritise the principles of accountability and maintain an independent perspective while focusing on delivering valuable services to the public. Highlighting the crucial role that CRAN plays in…

01 Sep

Lack of roads will hinder the progress of the Rundu abattoir

info_e12wt4csNational NewsLack of roads will hinder the progress of the Rundu abattoir, Rundu Abattoir

Hertta-Maria Amutenja Kavango East Region Governor, Bonifatius Wakudumo said the region needs to address critical issues of road infrastructure to avoid hindrance to the progress of the recently inaugurated Rundu Abattoir. Amidst the excitement over the new state-of-the-art abattoir facility, Wakudumo highlighted the essential role roads play in ensuring the abattoir’s success and broader economic benefits during the official handover yesterday. Wakudumo expressed gratitude for the facility’s establishment, recognising its capacity to slaughter 80-120 cattle per day, contributing significantly to the livestock sector’s growth and the region’s economic growth. However, he didn’t shy away from voicing his concerns about the…