Page 595 – News Stand

20 Oct

Namibia collaborates with global effort to reduce seafood waste

info_e12wt4csNational NewsIn the face of rising food insecurity and unemployment, Namibia’s fishing industry is joining hands with global partners to address these critical challenges.

Niël Terblanché In the face of rising food insecurity and unemployment, Namibia’s fishing industry is joining hands with global partners to address these critical challenges. The initiative aims to reduce seafood loss and waste, maximize the value of marine resources, and create employment opportunities for coastal communities. According to the United Nations Food and Agriculture Organization (FAO), over one-third of seafood is lost or wasted globally, while more than 92 percent of global fisheries are harvested at or above maximum sustainable yield levels. Much of the loss occurs at sea and during processing, with some by-products being converted into fishmeal…

20 Oct

Private sector implored to explore new market opportunities

info_e12wt4csNational NewsPrivate sector implored to explore new market opportunities

Martin Endjala Industrialisation and Trade Deputy Minister, Verna Sinimbo, has implored businesses, particularly in the private sector to explore new market opportunities like agriculture and invest in the production of goods and services that can be competitively traded within the African Continental Free Trade Area (AfCTFA) framework. She said the private sector should embrace innovation and technology to enhance productivity and competitiveness, adding that all these activities can only be unlocked once appropriate funding mechanisms are availed. She reiterated that there have been deliberate efforts made to ease access to finance. Sinimbo made this remark at the Bank Windhoek Online…

20 Oct

Namibians own 4.3 percent of Shoprite

info_e12wt4csObserver Money

Namibian investors hold a 4.3 percent stake in Shoprite, according to the 2023 Integrated Report. Shoprite Holdings Limited's international shareholders also include 47.4 percent from the USA, 16.7 percent from Hong Kong, 13.6 percent from the UK, and 5.8 percent from Luxembourg. Additional investors, totaling 13.2 percent, hail from countries such as Belgium, the Netherlands, Saudi Arabia, Switzerland, Ireland, the UAE, Kuwait, and Singapore. The majority of Shoprite's shareholders are from South Africa, the USA, Hong Kong, the UK, and Luxembourg. In the fiscal year ending on July 2, 2023, Shoprite achieved N$215 billion in revenue and N$11.9 billion in…

20 Oct

Population projected at 2.6 million

info_e12wt4csObserver Money

Chamwe Kaira Namibia Statistics Agency projects that the country’s population may stand at 2.6 million people at the end of the 2023 Population and Housing Census. If the project turns out to be accurate, that will mean the population would have grown by half a million since the last census in 2011, which stood at 2.1 million. Digging into history, using the figures provided by the NSA, the country’s population stood at 228 916 in 1921. The next census in 1936, saw the population increase to 320 457. Ten years later in 1946, the population stood at 362 464. The…

20 Oct

Momentum paid N$300 million in Covid claims

info_e12wt4csObserver Money

CEO of Momentum Metropolitan Namibia, Sakaria Nghikembua, talks about joining the company in the middle of the Covid-19 pandemic and the lessons the company learnt from the pandemic. He tells Observer Money about the new products launched by his company and the current status of the insurance industry in the country. Observer Money (OM): You were appointed as CEO of Momentum Metropolitan Namibia, just over two years ago, how has the journey been so far? Sakaria Nghikembua (SN): Enlightening, challenging and rewarding. I came in right in the middle of the Covid-19 pandemic. As a business, we learned many new…

20 Oct

Frustrated Arandis residents threaten to seize land

info_e12wt4csMainFrustrated Arandis residents threaten to seize land

Stefanus Nashama Frustrated landless residents in Arandis have issued a threat to take matters into their own hands by occupying unserviced land illegally. They claim that the Arandis Town Council has repeatedly ignored their requests for land, leaving them with no choice but to pursue this course of action. The group, calling themselves the “Arandis Concerned Group,” expressed their disappointment with the Town Council, citing unresolved issues that have plagued them for years. These residents have grown weary of spending their hard-earned money on rent while struggling to provide for their families. Group spokesperson Helena Orus voiced their frustrations, stating,…

20 Oct

Nasria readies weather based livestock insurance

info_e12wt4csObserver Money

Chamwe Kaira The Namibia Special Risks Insurance Association (Nasria) is getting ready to introduce the innovative Weather Index Based Livestock Insurance (WIBLI). Johannes Alugodhi, the agriculture manager at Nasria said in an interview that Nasria is committed to launch the innovative WIBLI product to the market (Agriculture sector) before the down of 2023. Alugodhi said WIBLI will provide a solution by insuring livestock farmers against droughts and excessive rainfall and floods, which are the most significant climatic change risks challenges facing the agriculture sector. He said with WIBLI, there is no field, farm, grazing ground level assessment required to confirm…

20 Oct

Paladin spends US$66m in Namibia

info_e12wt4csObserver Money

Chamwe Kaira Paladin Energy, which is in the process of reopening its Langer Heinrich Mine in the Erongo Region has spent US$66.2 million on various services in the country in the current financial year. The company said in the sustainability report that during the 2023 financial year, there was no direct economic value generated from revenues, however economic value distributed and retained, which included operating costs, employee wages and benefits, payments to providers of capital, payments to government by country, and community investments totaled US$66.2 million. Langer Heinrich already produced over 43 million pounds of uranium oxide over ten years…

20 Oct

Grants offered for small businesses

info_e12wt4csObserver Money

The US African Development Foundation (USADF) and the Ministry of Industrialisation and Trade is inviting proposals from Namibian cooperatives, producer groups, and micro, small, and medium-sized enterprises (MSMEs) for grant financing and local support to develop innovative solutions that enhance their capabilities. These solutions aim to increase food security, add value to local products, boost revenues, create jobs, improve incomes, and foster sustainable market-based growth. The USADF and the trade ministry said they are welcoming proposals from registered cooperatives, producer groups, processors, distributors, and service providers in Namibia who are actively engaged in the following value chain sectors: grain, livestock,…

20 Oct

Schlumberger plans plant for oil rigs

info_e12wt4csObserver Money

Chamwe Kaira Services Pétroliers Schlumberger (SLB), a globally recognised oilfield services giant listed on the stock exchanges in New York, Paris, and London, is in the early stages of proposing the construction and operation of a Liquid Mud Plant (LMP) at Berth 8, situated within the Port of Walvis Bay, managed by the Namibian Ports Authority (Namport). SLB's extensive operations span across 120 countries, as indicated on its official website. The Liquid Mud Plant is a pivotal component in the management of various drilling fluids utilised in offshore oil rig operations. SLB envisions the LMP as a facility designed to…