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Mining Sector Not Dominated by Chinese Investors, says Alweendo
By: Justicia Shipena Mines and Energy Minister, Tom Alweendo, has refuted claims suggesting that the mining sector is predominantly controlled by Chinese investors. Addressing the issue in a recent interview with Eagle FM, Alweendo dismissed the perception of Chinese dominance in the industry, asserting that such beliefs lack merit. Alweendo emphasised that […]
TransNamib Hunts for a Lender’s Technical Advisor
By: Hertha Ekandjo TransNamib is in the process of appointing a Lender’s Technical Advisor to facilitate the finalisation of the N$2.6 billion loan it secured from financial institutions two years ago. The state-owned rail operator secured nearly two years ago with the Development Bank of Namibia (DBN) and the Development Bank of Southern Africa […]
Paladin Energy Gets N$2.8 Billion Loan to Restart Langer Heinrich Mine
By: Staff Writer Australian mining company Paladin Energy has secured a N$2.8 billion syndicated debt facility in preparation for the restart of the commercial production at its Langer Heinrich uranium mine in the Erongo region. The debt facility was orchestrated through Nedbank Limited, operating via its corporate and investment banking division (Nedbank CIB), […]
Bankers’ Association Advises Public on Avoiding Repossession
By: Staff writer The financial challenges associated with an economic downturn can lead to distressing consequences, with asset repossession being one of the most concerning for consumers. In response to this, Brian Katjaerua, the CEO of the Bankers’ Association of Namibia (BAN), encourages effective communication to prevent repossession, asserting that banks are generally […]
The Economy Needs More Than Teachers and Nurses To Thrive – Analysts
Loise Shiimi Education stakeholders have been urged to play a more active role in guiding parents and secondary school graduates toward career paths that align with the country’s economic development and diversification goals. Over the years, Namibia has seen a huge number of pupils graduating from high school opting to pursue studies in education […]
Sikondo Green Scheme Leads Economic Advancement in Kavango West
Annakleta Haikera The development of the Sikondo Green Scheme irrigation project in Kavango West continues on a positive note with production of vegetables progressing on a consistent basis. The project recently achieved a milestone by delivering its first harvest of the year, including vegetables like green peppers and tomatoes, to the Oshana and […]
Gloomy Prospects for Construction Sector in Windhoek
Justicia Shipena The construction sector in Windhoek is currently facing challenging times marked by lacklustre performance as construction projects continue to dry up in the capital city. According to a report on building data for December 2023 published by IJG Securities on Tuesday, the pipeline for construction activities in Windhoek remains thin. In […]
Investment in Science and Technology Research Crucial for Economic Growth
Hertha Ekandjo Namibia should devote much of its attention and resources towards improving research in science and technology to boost its economy, achieve food security and combating poverty. This is according to Nhlanhla Lupahla, the General Manager for Research, Science, Technology, and Innovation at the National Commission on Research, Science and Technology (NCRST), […]
‘FIMA Should Not Threaten Private Sector Pension Funds’… private sector funds irked by lack of clarity on National Pension Fund proposal
Justicia Shipena The Namibian Building Workers Pension Fund (NBWPF) has expressed concern about the lack of clarity regarding the Financial Institutions and Market Act (FIMA) and its potential mandatory preservation requirements of retirement assets. “The fact that we still do not have clarity about FIMA and possible compulsory preservations and that a national […]
Concerns Raised Over Uranium One’s Proposed In-Situ Leaching
Justicia Shipena The Stampriet Aquifer Uranium Mining Association (SAUMA) has raised serious concerns about potential violations of Namibian environmental laws in the Environmental Impact Assessment (EIA) process conducted for the in-situ leaching mining method proposed by the Russian-backed company Uranium One. SAUMA alleges that the environmental consultant responsible for compiling the EIA did […]