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Author: Staff Reporter

CBD revival, another mall to be renovated

The revival of the Central Business District will see the Gustav Voigts shopping centre undergo a multimillion-dollar renovation starting this year. The three-level complex, built in the 1970s and located beneath the four-star Avani Hotel and Casino, was the country’s very first mall. “This investment is due partly to the growing demand for upscale inner-city shopping, driven by the professionals in the surrounding offices, banks and government buildings,” said Carel Fourie, CEO of Oryx Properties, the owner of the centre. Home to established brands such as Mr Price, Totalsports, Queenspark, Donna Claire and Pep as well as a Checkers...

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Deal finalised to take Camp Chobe into Gondwana stable

As of next week, the Gondwana Collection will have another lodge in its stable, bringing the number of establishments under this label to 15. The progressive tourism investment group announced it has bought Chobe Lodge from its owner and founder, Johan Liebenberg (left). This is the first major deal for Gondwana’s new Managing Director, Gys Joubert. Camp Chobe is located just a few kilometres downstream from the Ngoma border post on the Namibia Botswana border in the Caprivi. The immediate are falls in the Salambala Conservancy. Eco-friendly and running on solar power, it is perfectly integrated into the landscape....

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Namibia and Japan continue mining talks

The Ministry of Mines and Energy (MME) met with the Japan Oil, Gas and Metals National Corporation (JOGMEC) this week, to promote sustainable development of local natural resources. The Minister of Mines and Energy, Hon. Obeth Kandjoze said that the seminar is a continuation of collaboration between JOGMEC and the ministry to further cooperation. “I should point out that Japan played a significant role in essentially keeping Rossing alive during the nineties by buying uranium from the company at much higher prices than any other buyer was willing to,” Kandjoze said. According to the minister, the two parties are...

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Capricorn Group ups capital adequacy to 15.6% despite very tight liquidity

Tight liquidity in the local market had a significant impact on the Capricorn Group’s performance for the second semester of 2016 as evidenced by the uninspiring results announced this week. The Group, formerly Bank Windhoek Holdings this week released its interim results for the six-months period ending 31 December 2017. “The six months under review have been challenging for the banking industry and the economy as a whole, with a slowdown in economic growth, sharp reduction in private sector credit extension (PSCE) and a decline in market liquidity. As a consequence, growth opportunities were limited and the cost of...

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Major Helios funding takes Trustco to the next level in property development

Trustco Group Holdings announced on Wednesday it has managed to secure another U$40 million, roughly N$540 million, in funding from Helios Credit Partners, a venture capital financial group in the UK. This brings Trustco’s total secured funding over the past six months to an impressive N$1 billion. Trustco announced on 16 November last year, its dividend payment has been deferred. Trustco historically paid out November dividends by the first week of December. Trustco Group Managing Director, Dr Quinton van Rooyen said in a statement that the group is cementing its reputation as an engine for creating sustainable wealth for...

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Positive 2017 outlook for tourism industry

The tourism industry this year promises to be positive, if not better, with a high demand for tourism services currently processed by tourism operators, according to Hospitality Association of Namibia, CEO, Gitta Paetzold. Paetzold this week said that the country’s tourism industry last year experienced one of the best results in over a decade, with tourism accommodation properties recording nearly 60% occupancy across the country and throughout the year. “The coastal region even exceeded the overall average, fairing the best of all regions, with accommodation on average over 62 percent filled in 2016,” he added. According to him the results recorded for January this year already show a further increase in comparison to the same period last year. The month of January is usually seen as Namibia’s low season in tourism, but this year it had an average occupancy of over 45%. “This trend is of particular importance for the country at a time, when other economic sectors, be it fishing, agriculture or mining to some extent, experience difficulties,” he explained. Paetzold said that the country’s tourism industry is fully geared to meet the demands and growing interest of the international travel market in the southern African region and is looking forward to equal or even better results in the coming months. Despite a positive outlook for the tourism industry, Paetzold however said they are fully aware that outside...

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Maerua Mall begins interior facelift

Maerua Mall will undergo a complete facelift bringing both its look and its offerings up to date. Carel Fourie, newly appointed CEO of Oryx Properties describes it as “more than a shopping experience: It offers everything from convenient shopping to a fun, family dining experience”. According to centre manager, Thea Thornley, new and existing tenants are joining the mall with the first John Dory’s in Namibia set to open its doors in close proximity to such stallwart retail brands as Queenspark, Cappellos and Checkers Liquor. The phased upgrade will offer everything under one roof, from entertainment and dining to...

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Wellness Programme initiates first clients on ARV treatment

The Walvis Bay Corridor Group (WBCG) commenced the roll out of an Anti-Retroviral Treatment (ATR) at its Roadside Wellness Clinics in Katima Mulilo and Oshikango. The HIV Anti-Retroviral Treatment programme is part of a pilot phase at the two clinics in Zambezi and Ohangwena regions, with plans to expand the service at WBCG’s other two clinics in the Khomas and Erongo regions. The initiative allows clients to enjoy a “one stop point of health care” approach at the WBCG clinics. “We are reducing the burden of patients on public health facilities and providing key and vulnerable hard to reach...

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