Business (664)

  • 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.
  • 13
  • Oct
The Government Institutions Pension Fund (GIPF) has so far disbursed N$4,7 billion out of the N$12 billion it has committed to asset managers of unlisted investments in the country.
  • 13
  • Oct
Conflict of interest allegations have been raised against the Namibian Stock Exchange (NSX) Chief Executive Officer, Tiaan Bazuin, after it emerged that he is a director of Paratus Group, a company which is significantly invested in newly-listed company, Nimbus Infrastructure Limited.
  • 06
  • Oct
The race to reduce the segment of the population that has no access to financial services hit high speed this week with the launch of the fourth Namibia Financial Inclusion Survey by the Bank of Namibia, Finmark Trust of South Africa and the Namibia Statistics Agency.
  • 06
  • Oct
The Ministry of Mines and Energy has granted Bannerman Resources Limited a Mineral Deposit Retention Licence with a five-year extendable term over its 95 percent owned Etango Uranium Project.

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.

Contact Us

Windhoek Observer House
c/o John Meinert & Rossini Street
Windhoek West
Namibia
Tel: +264 61 411 800
Fax: +264 61 226 098
www.observer.com.na