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Author: Musa Carter

Volvo now riding solo in Namibia

The relationship between famous Swedish brand Volvo and Novel Motors Company Windhoek, is over. The Managing Director of Volvo Cars South Africa confirmed the safety marque and the local dealer have parted ways. This week, in response to questions by the Economist, Volvo Cars South Africa (VCSA) Managing Director, Greg Maruszewski explained the move made by the motor company, while he also unpacked what their customers are to expect of the new developments. Fuel heads and fanatics of the Swedish vehicle brand often would go to Novel Motors to access their top of the range vehicles, but Volvo now...

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Stanlib roadshow spells out how weak both SA and Namibia are

“When your business sector loses confidence – something important happens – they stop investing. They have not stopped making a profit but are not putting more money into their businesses which means the economy stops growing” a Stanlib economist told Namibian investors earlier this week. During the annual Stanlib roadshow in Windhoek and Swakopmund, Stanlib South Africa’s Chief Economist, Kevin Lings said Namibia is in a technical recession as some sectors have been disappointing, such as construction which has been influenced by cancelled government projects as well as the water crises. Namibian consumers are also under pressure following two...

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A brickmaker in every village – PPP vision from the cement trade

The concept Public Private Partnership gained new meaning this week when the Minister of Poverty Eradication and Social Welfare, Hon Bishop Zephaniah Kameeta launched a unique brickmaking project in Tsumeb. Two private sector companies, Ohorongo Cement and Built It in Tsumeb, with the ministry as patron, on Monday launched the Ohorongo Build It Brickmaking Academy to train new brickmakers to a level where their product can be retailed through existing hardware supply channels. Both active partners described the project as supporting the Harambee Prosperity Plan. Before the academy’s official launch, it has already trained its first group of prospective...

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FNB takes over Pointbreak, launches Ashburton

By the end of this week, Josephat Mwatotele will be an FNB employee, exactly one year after he started as the CEO of Pointbreak, a financial services group founded by current First Lady, Madame Monica Geingos. FNB Namibia Holdings, the appointed suitor of Pointbreak and its banking arm EBank, announced late last week all regulatory requirements have been fulfilled for FNB to acquire 100% shareholding in the two entities. “All regulatory requirements for FNB Namibia Holdings to acquire 100% of Pointbreak and EBank, have been met successfully and approval for the deal has been granted by Namfisa, the Bank...

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Australian miner enters JV for Karibib lithium project

The persistent rise in lithium spot prices from 2014 to 2016 has prompted an Australian company to formalise its agreement with a local exploration outfit, to look for richer lithium deposits in a known mineralisation zone south and east of Karibib. Australian mining firm Auroch Minerals, this week via the Australian Stock Exhange, said it has exercised its option to acquire 90% of EPL 5751 as it continues its focus on the Karibib lithium project in Namibia. The company, said it will be moving into a full joint venture with Namibian firm, Dynamic Geo-Consulting Services, which is the registered...

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Companies to curb connectivity costs through SIM control

Local telecommunications service provider, MTC, earlier this month reached an agreement with Flickswitch International to launch a SIM management service this week Thursday, 02 March. Flickswitch International provides automation solutions for commercial customers who need to keep track of multiple SIM cards across multiple platforms. Their service enables companies to manage their connectivity usage, ultimately to save on communication and connectivity costs. Speaking to MTC’s John Ekongo on what the service entails, he told the Economist that SIM control is a self-help online portal aimed at the business market. It allows companies to better manage large numbers of SIM...

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Airbus ‘Eyes’ to monitor key elements of preferential sectors in local economy

The space wing of Toulouse-based aircraft manufacturer,  Airbus and the Namibia University of Science and Technology (NUST) agreed to collaborate in establishing a Virtual Space Data Centre in Windhoek to assist the country in monitoring and growing key elements of its economy. The agreement signed between Airbus and NUST last week, is to establish a Virtual Space Data Centre, which, through imagery supplied by a constellation of Airbus satellites, will enable the creation of a geo-intelligence database for the Namibian government and other users working in a wide range of spheres including agriculture and food security, transport, infrastructure, environment,...

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Optimism surrounds commodity prices – more mines in pipeline

Chamber of Mines, chief executive officer, Veston Malango said despite the global economic downturn, he is confident that commodity prices are likely to recover as positive signs were witnessed in 2016, particularly for base metals. Malango this week said he believes that the worst of the commodities slump is over and with the many mines that came online in the last two years, gold and copper production has trebled, contributing to the growth of the industry and underpinning the national economy. “We trebled gold production in the last 2 years due to the production at B2Gold’s Otjikoto Mine. Gold...

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