26/07/2024
Our Friday edition is out. Click
https://epaper.thebrief24.com/2024/July+2024/The+Brief_26+July+2024_compressed.pdf to download your FREE copy.
Namibia's leading Daily Business, Finance and Economic News publication
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26/07/2024
Mbumba engages banks over high bank charges
President Nangolo Mbumba met with Namibian bank executives to address concerns over high interest rates, excessive charges and services.
During the meeting with banks’ Chief Executive Officers and Managing Directors, the President underscored the importance of public sentiment, highlighting the persistent complaints about the banking sector.
He called on financial institutions to investigate these concerns, acknowledging the validity of some complaints while also noting that others may be unfounded.
https://thebrief.com.na/2024/07/mbumba-engages-banks-over-high-bank-charges/ Ministry of Finance and Public Enterprises- Republic of Namibia Bank of Namibia
26/07/2024
UCOM Namibia, BDQ Mobile ink partnership to deploy network infrastructure
UCOM and BDQ Mobile Network Solutions have entered a 10-year partnership to revitalise Namibia’s third mobile phone operator.
Under the agreement, BDQ Mobile Network Solutions, in partnership with American-based VANU Technology, will focus on deploying advanced telecommunications equipment and technological solutions.
The companies are committed to investing in network infrastructure (antennas and radios) where a total of 500 towers will be deployed in the next three years.
https://thebrief.com.na/2024/07/ucom-namibia-bdq-mobile-ink-partnership-to-deploy-network-infrastructure/
26/07/2024
Cattle marketing up 28.8% to 109,192 heads in Q2 2024
The Livestock and Livestock Products Board of Namibia reported a 28.8% increase in cattle marketed during the second quarter of 2024, with a total of 109,192 cattle sold.
The Board's Statistician, Fransina Angula, said live cattle exports improved, totalling 51,665 heads, primarily due to drought conditions.
Weaner prices averaged N$24.45/kg, while beef all-grade prices averaged N$59.76/kg during the quarter under review.
https://thebrief.com.na/2024/07/cattle-marketing-up-28-8-to-109192-heads-in-q2-2024/ Ministry of Agriculture, Water & Land Reform Namibia Farming Community / Namibië Boeregemeenskap Farming Namibia Advertising Namibian Chamber of Agriculture Namibia Agricultural Union
26/07/2024
Namibians cite misalignment in budget spending
A new survey by the Economic Association of Namibia has revealed that 60.2% of Namibians believe the government's budget allocations are not aligned with national development priorities.
The 2024 Public Perspectives Allocation and Effectiveness of Namibia’s National Budget survey highlighted public concerns over spending priorities.
The survey respondents highlighted that underspending on critical areas, disproportionate budget allocations compared to the actual needs, misprioritisation of health and education, and the ineffective use of public funds led to the misalignment of budgetary allocations to national development.
https://thebrief.com.na/2024/07/namibians-cite-misalignment-in-budget-spending/ Ministry of Finance and Public Enterprises- Republic of Namibia The Economic Association of Namibia
26/07/2024
RFA allocates N$430m towards local authority road infrastructure
The Roads Fund Administration (RFA) says it has allocated N$430 million to support local authorities nationwide for road infrastructure.
The RFA’s announcement comes after a stakeholder consultation workshop held in November 2022, which highlighted the need for increased funding for local road maintenance.
RFA Chief Executive Officer Ali Ipinge said the allocation is a significant boost from N$150-160 million previously allocated per annum.
https://thebrief.com.na/2024/07/rfa-allocates-n430m-towards-local-authority-road-infrastructure/
26/07/2024
Windhoek banks on foot traffic to revitalise CBD business landscape
The City of Windhoek is pursuing a long-term plan to revitalise its central business district (CBD) by increasing foot traffic.
The goal is to foster a thriving business environment, support small and medium enterprises (SMEs), and create a more pedestrian-friendly setting.
https://thebrief.com.na/2024/07/windhoek-banks-on-foot-traffic-to-revitalise-cbd-business-landscape/
City of Windhoek
26/07/2024
Namibia’s green hydrogen projects key equipment deliveries begin
Green Hydrogen Commissioner James Mnyupe says key equipment to operationalise some of Namibia’s green hydrogen projects is now being delivered.
Giving an update, Mnyupe said Cleanergy Solutions Namibia has started receiving key components of its electrolyses for the country’s maiden hydrogen service station adding “we hope to cold commission the plant by Q1-2025”.
The company, which was awarded a grant to set up a hydrogen pilot plant and refuelling station at Walvis Bay, is a joint venture between the Ohlthaver & List (O&L) Group and its international Belgium-based partner, http://CMB.TECH.
He said the Daures Green Hydrogen Village is set to receive an electrolyser and associated equipment in batches between mid-August and early September 2024, “The shipment is coming in batches and is in excess of 60 tonnes in weight,” Mnyupe said.
https://thebrief.com.na/2024/07/namibias-green-hydrogen-projects-key-equipment-deliveries-begin/
Namibia Investment Promotion and Development Board Ministry of Mines and Energy Namibia Delegation of the European Union to Namibia GH2 Namibia
Ohlthaver & List
26/07/2024
The collaborative approach to the consideration set
By The Brand Guy
I have noted before that brands operate in categories called consideration sets.
The categories are diverse, the accumulation of different sets of needs. For instance, the consumer needs to eat, so will make a selection from a consideration set consisting of foods.
But the consumer also needs to be clothed and have shelter, so those are two additional consideration sets. Simplified, it is the rich scope of Maslow in action.
https://thebrief.com.na/2024/07/the-collaborative-approach-to-the-consideration-set/
25/07/2024
Our Thursday edition is out. Click
https://epaper.thebrief24.com/2024/July+2024/The+Brief_25+July+2024_compressed.pdf to download your FREE copy.
25/07/2024
NamRA recovers N$20 million from fishing companies evading tax
The Namibia Revenue Agency (NamRA) has recovered N$20 million from 14 fishing companies between 1 May and 19 July 2024 through administrative summons and the involvement of third parties, including commercial banks, to address outstanding tax liabilities.
This comes as NamRA is intensifying its efforts to combat deliberate tax evasion within the fishing industry.
https://thebrief.com.na/2024/07/namra-recovers-n20-million-from-fishing-companies-evading-tax/ Namibia Revenue Agency-NamRA Ministry of Finance and Public Enterprises- Republic of Namibia
25/07/2024
Cabinet approves Baynes Hydropower deal
…roadworks to begin in September
The Cabinet has approved the implementation of the bi-national Baynes Hydropower Project and the expedition of the construction of a road leading to the Baynes site.
According to a recent Cabinet briefing, construction of a road leading to the project site is set to begin in September 2024.
The approval follows after a meeting held in June between Angola’s Minister of Energy and Water Joắo Baptista Borges and Namibia’s Minister of Mines and Energy Tom Alweendo revealed that the Baynes Transmission Interconnection feasibility study is at an advanced stage, and is expected to be completed by mid-2025.
https://thebrief.com.na/2024/07/cabinet-approves-baynes-hydropower-deal/
Namibia Investment Promotion and Development Board Ministry of Mines and Energy Namibia NamPower
25/07/2024
Govt to spend N$138m on Auas, Dr Hage Geingob Road upgrades
The Ministry of Works and Transport says it will spend N$138 million on upgrading the Auas Road and the Dr Hage Geingob Road.
This project aims to enhance traffic flow, improve safety and create employment opportunities within the city.
Speaking at the groundbreaking of the new project, the Minister of Works and Transport, John Mutorwa, said the project will be undertaken in two phases.
https://thebrief.com.na/2024/07/govt-to-spend-n138m-on-auas-dr-hage-geingob-road-upgrades/
Roads Authority - RA Namibia
25/07/2024
IPPR recommends Public Procurement Unit autonomy
The Institute for Public Policy Research (IPPR) has recommended that the Public Procurement Unit (PPU) be autonomous from the Ministry of Finance and Public Enterprises to enhance its regulatory oversight function.
IPPR Research Associate Frederico Links said the Unit's oversight function is hindered by the current structure where the PPU director reports to the executive director of the Ministry of Finance which hinders its effectiveness.
https://thebrief.com.na/2024/07/ippr-recommends-public-procurement-unit-autonomy/ IPPR Namibia Ministry of Finance and Public Enterprises- Republic of Namibia
25/07/2024
Denver Beukes appointed as Home Loans Manager at Letshego Bank Namibia
Letshego Bank Namibia has appointed Denver Beukes as its new Home Loans Manager.
Beukes, who will manage the Home Loans department with a focus on growth and adding value to customers, is a mortgage lending specialist with over 15 years of industry experience and joins Letshego Bank from 2020 Financial Solutions.
https://thebrief.com.na/2024/07/denver-beukes-appointed-as-home-loans-manager-at-letshego-bank-namibia/ Letshego Namibia
25/07/2024
Striking the balance: Moving beyond "As Long As It Works" in IT
By Josef Kasera
The mantra "As Long As It Works" (ALAIW) has echoed through countless functional units including IT, embodying a philosophy that prioritizes short-term functionality over long-term sustainability.
While this approach may yield immediate results, its consequences can be dire in the complex world of technology as the focus is more on compliance rather than commitment and quantity than quality.
https://thebrief.com.na/2024/07/striking-the-balance-moving-beyond-as-long-as-it-works-in-it/
25/07/2024
The psychological effects of constructive feedback vs harmful criticism in the workplace
By Junias Erasmus
In the modern workplace, effective communication is pivotal for maintaining productivity and fostering a positive organizational culture.
Among the various forms of communication, feedback stands out as a crucial element in shaping employee behavior, performance, and overall well-being.
However, the nature of the feedback, whether constructive or harmful, have significantly different psychological effects on employees.
https://thebrief.com.na/2024/07/the-psychological-effects-of-constructive-feedback-vs-harmful-criticism-in-the-workplace/
24/07/2024
Our Wednesday edition is out. Click
https://epaper.thebrief24.com/2024/July+2024/The+Brief_24+July+2024_compressed.pdf to download your FREE copy.
24/07/2024
NamWater, Husab Mine near financial closure for N$3bn coastal desalination plant
NamWater and Husab Mine are set to achieve financial closure for the planned N$3 billion coastal desalination project by year end.
NamWater Chief Executive Officer Abraham Nehemia said the joint venture will see Husab Mine funding the construction of the project, ensuring NamWater does not need to independently mobilise the required N$2.5 to N$3 billion.
https://thebrief.com.na/2024/07/namwater-husab-mine-near-financial-closure-for-n3bn-coastal-desalination-plant/ Ministry of Agriculture, Water & Land Reform
24/07/2024
NSA requires N$250 million for optimal data collection
The Namibia Statistics Agency (NSA) says it requires N$250 million to fulfill its mandate timeously.
NSA’s CEO and Statistician General Alex Shimuafeni said financial constraints are hampering the statistics agency’s ability to conduct crucial surveys.
Shimuafeni said lack of adequate funding has led to delays in critical surveys, such as the Population and Housing Census, which was postponed from 2021 to 2023.
https://thebrief.com.na/2024/07/nsa-requires-n250-million-for-optimal-data-collection/ Namibia Statistics Agency
24/07/2024
Windhoek, San Antonio to renew water management partnership
The City of Windhoek says it will renew its Memorandum of Understanding (MoU) on water management with San Antonio, Texas in the United States of America.
The Mayor of San Antonio, Ron Nirenberg, is set to lead a delegation on a five-day visit to Windhoek from 24-28 July 2024, with the signing of the revised MoU as a key highlight.
https://thebrief.com.na/2024/07/windhoek-san-antonio-to-renew-water-management-partnership/
City of Windhoek Mayor Ron Nirenberg
24/07/2024
NAMFISA's headquarters to create 150 jobs during construction
The Namibia Financial Institutions Supervisory Authority (NAMFISA) is set to create approximately 150 jobs during the construction of its new headquarters in Windhoek's central business district.
The project, involving 18 subcontractors, is expected to span two years.
https://thebrief.com.na/2024/07/namfisas-headquarters-to-create-150-jobs-during-construction/ NAMFISA The Institute of Namibian Quantity Surveyors - INQS
24/07/2024
NSA allocates N$94 million for household income survey
The Namibia Statistics Agency (NSA) has allocated N$94 million for conducting the 2025/2026 Namibia Household Income and Expenditure Survey.
The survey is a comprehensive examination of Namibian household finances which will provide crucial data for policymakers and planners seeking to understand how Namibians earn and spend their money.
According to NSA’s CEO and Statistician General, Alex Shimuafeni, the N$94 million allocated for the survey is split into two parts, with the initial pilot survey allocated N$43 million to cover startup costs like training and materials for a smaller team.
https://thebrief.com.na/2024/07/nsa-allocates-n94-million-for-household-income-survey/ Namibia Statistics Agency
24/07/2024
Change management for sustainability
By Paulina Mbango
Sustainability has transitioned from a “nice-to-have” to a critical business imperative.
Senior leaders are increasingly tasked by shareholders and stakeholders with developing and implementing a sustainability strategy, which requires integrating sustainable practices into the fabric of their organisations.
To be successful, leaders must approach these changes strategically and at the enterprise level.
https://thebrief.com.na/2024/07/change-management-for-sustainability/
24/07/2024
Why you shouldn't halt premiums for life insurance and retirement funds
By Wendy Naruses
With the rising cost of living, many Namibians are burdened by financial pressure, which is aggravated by inflation.
Facing increasing financial pressure, many policyholders are tempted as a first reaction to cancel or stop paying their insurance and retirement premiums to ease the financial burden.
https://thebrief.com.na/2024/07/why-you-shouldnt-halt-premiums-to-life-insurance-and-retirement-funds/ Sanlam Namibia
24/07/2024
The common mistakes made by poultry farmers
By Hanks Saisai
Rearing poultry for business can be an exciting and rewarding experience when done properly.
From the onset, one needs to conduct thorough market research in order to determine the vital information that can be used to establish a viable and profitable business.
When poultry farming, a few small mistakes can be very costly, so it's important to identify and control them.
https://thebrief.com.na/2024/07/the-common-mistakes-made-by-poultry-farmers/ Ministry of Agriculture, Water & Land Reform Agricultural Bank of Namibia Namibia Farming Community / Namibië Boeregemeenskap Farming Namibia Advertising
23/07/2024
Our Tuesday edition is out. Click
https://epaper.thebrief24.com/2024/July+2024/The+Brief_23+July+2024_compressed.pdf to download your FREE copy.
23/07/2024
Kuleni, First Capital to administer GIPF’s pension-backed housing loan scheme rollout
The Government Institutions Pension Fund (GIPF) plans to leverage its subsidiary Kuleni Financial Services and housing loan fund manager First Capital Treasury Solutions to facilitate the upcoming pension-backed housing loan scheme.
The pension fund revealed its plans are advanced, with the Memorandum of Agreement (MoA) already prepared and currently under review by the Office of the Prime Minister (OPM).
The pension-backed home loans initiative by the GIPF aims to provide its members with an accessible path to home ownership, leveraging their pension savings as security for loans.
https://thebrief.com.na/2024/07/kuleni-first-capital-to-administer-gipfs-pension-backed-housing-loan-scheme-rollout/ Government Institutions Pension Fund - GIPF First Capital Namibia PROPERTY NAMIBIA - BUY/SELL AND RENTALS PROPERTY NAMIBIA
23/07/2024
World Bank prepares new country partnership framework for Namibia
The World Bank Group (WBG) says it is developing a new Country Partnership Framework (CPF) to guide its future support for Namibia.
https://thebrief.com.na/2024/07/world-bank-prepares-new-country-partnership-framework-for-namibia/
Ministry of Finance and Public Enterprises- Republic of Namibia NamPower
23/07/2024
Namwater signs N$123m contract for Outapi Water Treatment Works Expansion
Namwater has signed a N$123 million contract with China Jiangxi International JV Homefin Properties CC for the expansion and upgrade of the Outapi Water Treatment Works.
Abraham Nehemia, the Namwater Chief Executive Officer, said this contract marks a significant milestone, enabling the commencement of construction and development work.
https://thebrief.com.na/2024/07/namwater-signs-n123m-contract-for-outapi-water-treatment-works-expansion/ Ministry of Agriculture, Water & Land Reform
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ECB approves 8% bulk tariff hike for NamPower Electricity Control Board Chief Executive Officer, Robert Kahimise, on Friday announced an 8% bulk tariff increase for NamPower, down from the initially proposed 14.5% that the power utility had applied for. The adjusted rate is from N$1.98 per kWh to N$2.10 per kWh.#namibia #Electricity NamPower Omeya, Windhoek, Namibia Elisenheim Community OSONA VILLAGE (OKAHANDJA) Ministry of Mines and Energy Namibia Windhoek, Namiba
The 4th Annual Nedbank Women in Media Conference is currently underway. The conference serves as a meeting ground for accomplished women in media from diverse backgrounds. Participants will have the opportunity to network, share ideas, and spark collaborative projects. Selma Kaulinge, Nedbank Communications and PR Manager, said that the conference goes beyond simply facilitating connections. It serves as a springboard for ongoing support by offering workshops, training sessions, and mentorship programs. The initiatives aim to equip women in media with the necessary skills and knowledge to navigate the complexities of the industry and excel in their careers. #namibia #media #women
Sanlam Brief Sessions
Join us for a thought-provoking conversation on 'Namibia's Housing Crisis: The availability and high cost of land.'
Swakopmund Municipality CEO, Alfeus Benjamin, says that no final approval has been given by the Council for Geo Pollution Technologies to lease ERF 3954, situated along Einstein Street in the Industrial Area, for the storage of radioactive waste.
The Executive Director of the Ministry of Education, Arts, and Culture, Sanet Steenkamp, says that despite receiving the highest allocation from the 2024/2025 National Budget, much of the funds are currently allocated to hostels.
The Executive Director of the Ministry of Education, Arts, and Culture, Sanet Steenkamp, says that despite receiving the highest allocation from the 2024/2025 National Budget, much of the funds are currently allocated to hostels. She suggested that these funds could be redirected towards improving the quality of education instead. Steenkamp made these remarks during a Nedbank National Budget Review held in Swakopmund on Friday.
Highlights from the Pre-Budget Public Discussion: "The National Budget in an Election Year: Prospects for Fiscal Expansion and Strategic Priorities." #namibia #economy #finance The Economic Association of Namibia Capricorn Group High Economic Intelligence Hanns Seidel Foundation Namibia FNB Namibia GIZ Namibia Bank Windhoek
The Ministry of Environment, Forestry, and Tourism launched the sixth edition of the Tourism Satellite Account report on Thursday. The report aims to measure the contributions of tourism to GDP, economic growth, and employment creation. Omeya, Windhoek, Namibia Elisenheim Community Namibia Investment Promotion and Development Board Namibia Statistics Agency Namibia Tourism Board Namibia Travel & Tourism Forum Ministry of Environment, Forestry and Tourism Namibia Namibia Tourism Industry
NAMPOWER
NamPower signed a contractual agreement on Wednesday with Shandong Electrical, Engineering & Equipment Group Co. Ltd and Zhejiang Narada Power Source Co., Ltd JV for the development of the Omburu BESS project (Battery Energy Storage System) in Omaruru. The project has a capacity of 54 MW. NamPower Ministry of Mines and Energy Namibia Omeya, Windhoek, Namibia Elisenheim CommunityWindhoek, Namiba Chamber of Mines Namibia
The Bank of Namibia and the Namibia Revenue Agency launched the Trade Verification System on Wednesday to monitor cross-border transactions. The initiative aims to curb illicit capital outflows and enhance financial transparency.#namibia #Transparency Bank of Namibia Namibia Revenue Agency-NamRA Ministry of Finance and Public Enterprises- Republic of Namibia
AB InBev Namibia invests N$4m to boost Okahandja water capacity Governor of Otjozondjupa Region, James Uerikua, officiated at the official opening of a revamped borehole in Okahandja with increased water capacity on Friday. The project, valued at N$4 million, is a collaboration between AB InBev Namibia and the Okahandja municipality. The integrated boreholes will become part of the reticulation system designed to meet the water needs of low-income households in Okahandja. The Mayor of Okahandja, Beatrice Kotungondo, and AB InBev Country Manager, Kevin Louw, were also in attendance at the ceremony.#namibia #water #CSI #ABInBev
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Sanlam Brief Sessions
The Sanlam Brief Session is a collaborative journey with Sanlam Namibia and The Brief. The Sanlam Brief Sessions are set to be beacons of insightful conversations, shedding light on the sometimes complex world of business, finance, and the economy, and exploring discussions that shape our economic landscape. We are determined to deliver content that enriches your understanding of the ever-evolving business world. With the Sanlam Brief Session, stay informed and become an integral part of our journey towards shared knowledge. We strive for a future filled with impactful conversations and a shared journey towards greater understanding, with our first topic being interest rates.
Fishing Industry address
Fisheries Minister Derek Klazen addressed fishing industry stakeholders on Thursday in Walvis Bay #namibia #fishing #BlueEconomy Ministry of Fisheries and Marine Resources Omeya, Windhoek, NamibiaOSONA VILLAGE (OKAHANDJA) Oranjemunders Windhoek, Namiba WALVIS BAY NEWS Swakopmund Community News \ Gemeenskapsnuus
Minister of Mines and Energy, Tom Alweendo, issued a stern warning on Wednesday to investors who persist in operating and profiting from local minerals without proper authorization. Alweendo was addressing attendees during the ongoing Mining Expo in Windhoek.#namibia #mining Ministry of Mines and Energy Namibia Chamber of Mines Namibia Namibia Investment Promotion and Development Board
Thank you for reading, liking and sharing over the past 2 years. #namibia #news #businessnews #anniversary #anniversarycelebration
Electricity Control Board of Namibia CEO, Robert Kahimise, and General Manager of Economic Regulation, Pinehas Mutota, provided an overview on Wednesday of the factors that act as cost drivers for electricity adjustments.
Mines and Energy Minister Tom Alweendo announced on Monday a 12-member Diamond of Namibia advisory board, led by Erasmus Shivolo and deputized by Maenge Shipiki Kali, following years of dormancy.Ministry of Mines and Energy Namibia Chamber of Mines Namibia
Roads Authority CEO, Conrad Lutombi, speaking at the site of the Okahandja-Swakopmund road, says he expects the Freeway Project to be completed by May 2024, while the Windhoek-Okahandja Road, which has been under construction since January 2016, is expected to be operational by the end of August 2023, all within the N$3 billion budget. Roads Authority - RA Namibia Ministry of Works and Transport, Namibia Road Fund Administration - RFA
Schlettwein appoints 10-member board for Namibia's Meat Board The Minister of Agriculture, Water, and Land Reform, Calle Schlettwein, has appointed 10 board members for the Meat Board of Namibia for the next three years, with two of the members being reappointments. Schlettwein on Wednesday urged the new appointees to facilitate efficient market access to international markets for exports and ensure compliance with relevant conditions, among other responsibilities. The board is chaired by Lucia Hamutenya and comprises Jessy Kamwi, Dr. S. Von Bach, Rosalinda Katjivena (re-elected), Julene Meyer (who was reappointed), Annascy Mwanyangapo, Willem Nekwiyu, Patrick Liebenberg, and Christopher Mberema. Ministry of Agriculture, Water & Land Reform
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