Page 58 – News Stand

23 Jun

Nedbank-Trollope deal targets growth in mineral sector

info_e12wt4csObserver Money

Erasmus Shalihaxwe Nedbank Namibia has finalised the funding deal with Trollope Contractors Namibia (Pty) Ltd, a subsidiary of the South African-based Trollope Mining Group. Nedbank Namibia managing director Martha Murorua announced the agreement on Monday, calling it the start of a strategic partnership to advance Namibia’s mining sector. The funding includes asset-based finance and working capital to support Trollope’s mining operations in the country. “The Nedbank funding is expected to create employment opportunities and stimulate economic activity in the Erongo Region. A strategic partnership for growth. Trollope Contractors Namibia is a new entrant to the Namibian market but brings with…

23 Jun

Old Mutual commits N$1m to SMEs

info_e12wt4csObserver Money

Justicia Shipena The Old Mutual Foundation by Old Mutual Namibia has allocated N$1 million toward its flagship entrepreneurship programme, the Old Mutual Sustainable, Economic and Empowerment Drive (OM SEED). The funding marks the launch of the fourth and final leg of the initiative, known as OM SEED 4.0, under the theme “Rooted in Growth for Sustainability”. The final phase will focus on the Omaheke, Otjozondjupa, Omusati, and Kunene regions. The programme aims to support local entrepreneurs with seed funding, mentorship, and business development support. Since its launch in 2022, OM SEED has empowered more than 100 entrepreneurs across Namibia. “Through…

23 Jun

Puros solar project reaches N$14 million investment

info_e12wt4csNational News

Justicia Shipena The Puros Solar Mini-Grid project has reached a total investment of N$14 million. This follows a recent N$8 million contribution from the ministry of industry, mines and energy. The latest funding forms part of a service-level agreement between the Ministry and the Environmental Investment Fund (EIF) of Namibia. EIF spokesperson Romeo Muyunda said the new investment marks a major step in expanding access to sustainable and affordable energy in the Kunene Region. Launched in 2024, the Puros project is a joint effort between the EIF and the Northern Regional Electricity Distributor (NORED). It is co-financed by the Ministry…

23 Jun

Young innovator builds a mahangu harvesting tool

info_e12wt4csNational News

Allexer Namundjebo At the age of 23, Marshall Aibeb from the Hai//om San community has built a mahangu threshing machine to help farmers during harvest season. The machine simplifies the difficult and time-consuming process of threshing mahangu, also known as pearl millet. Aibeb is a level 2 metal fabrication student at the Community Skills Development Foundation (COSDEF) in Ondangwa. He received a scholarship from the Palms for Life Fund, which supports youth in marginalised communities. “I enrolled at COSDEF the year before last through the Palms for Life Scholarship, and I started my internship this March. I’ll finish in August,”…

23 Jun

NFA insists finances are in order

info_e12wt4csFeatured, Sports

Erasmus Shalihaxwe The Namibia Football Association (NFA) says its audited financial reports are clean and reflect sound governance and ethical leadership. NFA's director for finance, procurement and human resources, Mino Gariseb, made the statement on Monday in response to reports that the football body's finances were not in order. Gariseb said that while public scrutiny is important in strengthening institutions, the NFA wants to correct any misrepresentations and reaffirm its commitment to financial integrity and transparency. He said sponsors and partners can remain confident in the NFA’s operations, which meet regulatory standards and promote long-term value as a responsible football…

23 Jun

U20 girls ready for tough COSAFA battle

info_e12wt4csFeatured, Sports

Erasmus Shalihaxwe The under-20 women’s national team is aiming to take full advantage of playing at home during this year’s COSAFA U20 Championship. The tournament will be held in Windhoek from 4 to 13 July 2025, as part of the African Union Sports Council (AUSC) Region 5 Youth Games. Namibia missed out on last year’s edition in November but returns with renewed focus. They are placed in Group A alongside Mozambique, Botswana, and Zimbabwe. Assistant coach Errol Damaseb said the group phase will be challenging, but the team is determined to advance. “The group stage will not be easy, but…

23 Jun

Strait of Hormuz crossroads: Israel-Iran unrest poses significant threats to energy markets

info_e12wt4csFeatured, Opinions

JOSEF KEFAS SHEEHAMA It's uncertain if Iran will attempt to close the Strait of Hormuz, which ship 20-25% of the global oil. The closure of the Strait of Hormuz would have an immediate impact on global oil prices, potentially leading to significant global economic crises. According to energy experts, the Strait of Hormuz, a narrow waterway that connects the Persian Gulf to the Gulf of Oman and the Arabian Sea, is critical for global oil trade and security. Its strategic importance arises from its role as the key conduit for oil and gas exports from major Middle Eastern exporters to…

22 Jun

NSFAF collects less than 1% of N$10 billion loan book

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Justicia Shipena The Namibia Students Financial Assistance Fund (NSFAF) recovered less than 1% of student loans during the financial year that ended in March 2024. According to the latest audit report by Auditor General Junias Kandjeke, NSFAF recovered only N$18.27 million during the year under review. “The auditors noted that total recoveries were only N$18,271,916, which is less than 1% of total student debtors owing the Fund,” Kandjeke said. He found that the NSFAF has been ineffective in collecting student debt, noting that most debtors are years in arrears and there was no evidence that they had been contacted to…

22 Jun

‘I don’t report to Sankwasa’ – Ndeutapo

info_e12wt4csNational News

Allexer Namundjebo The former mayor of Omuthiya, Johannes Ndeutapo, says he is still a duly elected councillor. This comes despite reports claiming he has been dismissed by Urban and Rural Development Minister James Sankwasa. Speaking to the Windhoek Observer on Sunday, Ndeutapo said he had not received any official communication regarding his removal from office. “I am an elected councillor, and I am still a councillor until those who elected me decide otherwise,” he said. “I don’t report to the minister. There are procedures that the minister ought to follow. I also just saw the media reporting on the matter.…

22 Jun

Only 42 earth dams built in four years

info_e12wt4csNational News

Allexer Namundjebo Since 2020, the ministry of agriculture, water and land reform has built 42 earth dams. These include 16 in Oshana, 10 in Ohangwena, three in Oshikoto, two each in Hardap, Karas, and Omusati, three in Kunene, and four in Kavango West. Prime Minister Elijah Ngurare revealed this statistic to Parliament on Thursday, while responding to questions by PDM leader McHenry Venaani. Ngurare said that while progress has been made in assessing the feasibility of floodwater harvesting, dam construction must be strictly monitored. “Significant efforts have been made to assess and address the feasibility of floodwater harvesting in flood-prone…