Mines and energy minister Tom Alweendo has responded to Shell’s recent announcement regarding its write-down of about N$7.5 billion (US$400 million) related to oil discoveries in Petroleum Exploration License (PEL) 39. He said the decision is not a setback for the country’s oil ambitions. Shell determined that the discoveries made in some of the wells...
The Namibian National Petroleum Corporation (Namcor) is adamant that Namibia possesses significant untapped oil resources, despite Shell’s reported intention to write down nearly N$7.5 billion (US$400 million) related to an offshore oil discovery in the country. Shell recently announced that the oil and gas resources identified in offshore block PEL39 in Namibia cannot be validated...
Achieving economic growth, development, reduction of the productivity gap, and improvement of resilience will require a thorough and accurate paradigm shift involving all important stakeholders and development agencies. Corruption, low productivity, subpar implementation, and poor performance by community leaders, such as certain government ministries, State-owned enterprises (SOEs), governors, councillors, and mayors, are some of the...
Bank Windhoek chairperson Johan Swanepoel announced the appointment of James Chapman as managing director designate of the Bank with effect from 1 February 2025. This is following the conclusion of a comprehensive recruitment process and approval by the Bank of Namibia. The appointment follows the announcement by Bank Windhoek in September 2024 that its current...
Multichoice continues to face financial challenges as highlighted in its latest interim financial results for the period ending 30 September 2024. The company reported a substantial revenue decline of 10%, dropping from N$27.9 billion to N$24.8 billion. This is primarily due to a decrease in its linear subscriber base, which fell by 11% year-on-year, losing...
German greenhouse gas emissions fell again in 2024 but at a slower rate, due to lagging green investment by industry and households, according to a study published yesterday. Emissions in Europe’s biggest economy fell 3% in 2024, a “marked slowdown” from a 10% drop in 2023, according to the Agora Energiewende think tank. Germany reflects...
The Namibia Institute of Public Administration and Management (Nipam) has announced the appointment of Heroldt Murangi as its executive director for the next three years, with effect from 1 January 2025. A media statement from Nipam on Monday indicated that Murangi’s vast experience in education management will align with the company’s strategic goals. “Murangi’s journey...
Rudolf Gaiseb Small and medium-sized enterprises (SMEs) and corporations can enhance decision-making and gain a competitive edge in the business world by employing business intelligence (BI) and data analytical (DA) mechanisms. Experts say these two components are eliminating inefficiencies while solidifying prompt execution and decision-making, especially now that managers and decision-makers do not have time...
NAMIBIA’S electricity imports have surged to 28.4% year-on-year, highlighting the country’s ongoing struggle with local energy generation. The Bank of Namibia stated that local electricity production fell by 6.5% during the third quarter of 2024. This is exacerbated by reduced water availability and technical issues at the Ruacana hydro-power plant. “This decline in local generation...
Mines minister Tom Alweendo, has announced a new ministerial directive for procuring new power generation projects to enhance Namibia’s energy security. The 2024 Ministerial Determination introduces a new allocation of 330 megawatts (MW) of solar PV capacity for procurement and implementation. In the document released by the ministry last month, Alweendo stated that the new...