Business (628)

  • 27
  • Oct
 
Namibia can earn more money from trophy hunting as it continues to promote itself as a sustainable hunting destination, president of Dallas Safari Club (DSC), Richard Cheatham, said in an interview this week.
  • 27
  • Oct
Namdeb Holdings production increased by 12 percent to 500,000 carats in the third quarter of this year, primarily because of higher mining rates from Debmarine Namibia’s Mafuta vessel,
  • 27
  • Oct
Central bank governor, Iipumbu Shiimi has urged the business community to take advantage of the current low interest rate environment to borrow money and invest.
  • 20
  • Oct
The Rosh Pinah Zinc Mine produced 20,1 million pounds of zinc concentrate, 3,9 million payable pounds of lead and 52,284 payable ounces of silver in the third quarter for the year.
  • 20
  • Oct
Namibia, which has one of the best potential renewable energy sources in the world, has been urged to adapt and apply a recent study and test case done in Tanzania. 
  • 20
  • Oct
 
The Government Institutions Pension Fund (GIPF) has painted a rosy picture of one of Namibia’s post-independence financial scandals, saying it made a profit of N$146 million from its infamous and now defunct Development Capital Portfolio (DCP),
  • 20
  • Oct
 
CHAMWE KAIRA
The Development Bank of Namibia’s debut N$2,5 billion, Medium Term Note Programme on the Namibia Stock Exchange (NSX) will not be used for the Infrastructure Fund, which will also be housed by DBN, Chief Executive Officer, Martin Inkumbi, said this week.
Finance Minister, Calle Schlettwein, announced in September that the Infrastructure Fund will be ring-fenced for funding current and future priority economic infrastructure.
Inkumbi explained this week that the Infrastructure Fund will be a separate capital raising programme specifically for public infrastructure.
He previously told the Windhoek Observer that proceeds from the N$2,5 billion Medium Term Note Programme issue, which initially raised close to N$300 million last month, will be used mainly to shore up the bank’s liquidity.
The Infrastructure Fund is expected to be operational by the end of October this year and it will draw capitalisation from the domestic financial and capital markets, with amortisation provided for under the budget overtime as a measure to embed sustainability and fiscal transparency.
Schlettwein said the proposed fund will complement the infrastructure financing provided through the African Development Bank and Private Public Partnerships infrastructure financing arrangements.
“These measures will be a good shot in the arm for the construction sector, which is now bottoming out of the severe effects of the steep consolidation phase,” he said.
According to Bank of Namibia estimates, Namibia has a funding gap of over N$150 billion for upgrading aging infrastructure including railway, roads and airports. Major projects proposed for development by the Government include road projects and railway projects, which also include commuter trains in Windhoek and surrounding areas.
Airport projects include those at Hosea Kutako International Airport. The port at Walvis Bay is also being expanded and money is also needed for electricity generation projects.
 
 
  • 20
  • Oct
Namibians could lose out on the growing and lucrative worldwide phenomenon of renting out their houses through the US based short-term rental company, Airbnb, following an announcement by the Namibia Tourism Board (NTB) that people offering their houses for rent must be registered with the board.
  • 13
  • Oct
International Base Metals Limited (IBML), the Australian based holding company of Craton Mining and Exploration (CME), which owns the Omitiomire copper deposit near Windhoek, is confident that mining operations will start ‘soon’,
  • 13
  • Oct
The luxurious Strand Hotel in Swakopmund celebrated its second anniversary this week with more than 100 guests attending a seaside patio function at the Brewer & Butcher restaurant overlooking the Mole.

WINDHOEK OBSERVER

The Windhoek Observer is an English-language weekly newspaper, published in Namibia by Paragon Investment Holding. It is the country's oldest and largest circulating weekly.

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