To contact the author and editorial staff send an email to firstname.lastname@example.org
Posts by Edgar Brandt:
The Parliamentary Standing Committee on Economics and Public Administration visited the stalling N$190 million Peugeot assembly plant in Walvis Bay on Friday. Falling international oil prices coupled with the strengthening of the Namibia dollar against the United States dollar are two of the main factors that enabled the energy ministry to reduce local fuel prices for September. For the next three years, the strategy for Oryx Properties Limited aims to grow the company’s total asset base inorganically to N$4.5 billion. Mines and energy minister, Tom Alweendo, yesterday confirmed that one of the world’s biggest publicly owned oil and gas companies, Chevron, is interested in acquiring a majority stake in a deep-water exploration block offshore Namibia. Regional oil refineries are being investigated to make Africa more independent in terms of oil supply. This was confirmed on Monday by mines and energy minister, Tom Alweendo, who recently returned from West Africa’s leading energy forum in Dakar, Senegal, that took place from 1 to 2 September with the aim to determine the future for the continent’s energy. The Bank of Namibia has confirmed there is no shortage of coins in the country, and that the local market has been adequately supplied with all necessary denominations. The clarification comes after a local retailer recently requested customers to exchange or purchase goods with coins, specifically 5 cents and 10 cents coins. Yesterday, mourners lined the streets in areas of the United Kingdom to catch a final glimpse of the longest-serving monarch that country has ever seen. The acquisition of Namibia Breweries Limited Investment Holdings and Distell Group Holdings by a massive Dutch brewer, Heineken International BV, has been approved with certain conditions by the Namibian Competition Commission (NaCC). HDF Energy is developing the Renewable Swakopmund, a green hydrogen power plant in Swakopmund, Erongo region. Although Namibian vehicle sales rebounded significantly by over 55% during August 2022, a local economist has cautioned this figure could be artificially inflated by rental companies who have been replenishing their fleets. As local small and medium enterprises continue to face a unique set of challenges, exasperated by rising government debt and the weakening Namibia Dol lar, a Windhoek-based businesswoman has identified an opportunity to assist small business owners to market their products. Reconnaissance Energy Africa (Recon Africa), along with its joint venture partner, the National Petroleum Corporation of Namibia (Namcor), last week confirmed the target depth was reached at its third stratigraphic test well in the Kavango basin. The multi-national United-States-based energy corporation, Chevron, has reportedly paid US$100 million (around N$1.7 billion) for a stake to explore oil in the Orange basin offshore Namibia. The potential for Namibia’s agriculture sector must be unleashed to drive thousands of Namibians out of poverty and joblessness. This is done through achieving more inclusive growth and raising the share of the sector’s contribution to the country’s gross domestic product. After receiving numerous queries from the Namibian public as to why domestic diesel prices were left unchanged for October, the energy ministry explained this is due to under recoveries (losses) recorded on diesel fuel sold locally. Despite OPEC yesterday deciding to cut production by two million barrels per day, this could be offset by increased oil output from the United States and Canada, coupled with a looming global recession early next year, which could see domestic fuel prices come down further by next month. RioZim, the company that separated from Rio Tinto plc in 2004 to become a wholly owned Zimbabwean company, has reportedly purchased the Sperrgebiet Diamond Mine (SDM) which holds a combination of four onshore and offshore diamond mining licences in the restricted diamond areas around Lüderitz. SDM’s mainland-based operation is situated at Elizabeth Bay, about 40km south of Lüderitz. How could a vehicle generating 179kW and an unbelievable 539Nm of torque use only 5.2 litres of fuel for every 100km? While this sounds like an impossible achievement, it is exactly what you will get with Haval’s much-anticipated H6 Hybrid Electric Vehicle (HEV) which was launched in the capital this week by Pupkewitz GWM. The difference between the repo rate, determined by the central bank, and the prime rate at commercial banks forms part of the bank’s working funds to ensure customers have the latest, safest and most reliable systems in place. The absence of local inter-continental airlines from designated routes is causing particular pain in the aviation industry as this has left many southern African markets under-served.