The Brief is an online news portal and going source with a focus on the Namibian business sector, current affairs, companies and financial markets.
+264814612969
October 04, 2022
Companies (903)
The Namibian government has put up three more green schemes on the market as it moves ahead to outsource some of the projects to the private sector.
CoW turns to DBN to fund N$228m power project shortfall
October 03, 2022
The City of Windhoek (CoW) has secured two loans totaling N$155 million from the Development Bank of Namibia (DBN) to fund its shortfall to finance the N$228-million Khomas intake substation project to ensure additional capacity to support the City’s forecasted power demand.
Namib Desert Diamonds (NAMDIA) has appointed Alisa Amupolo as its new Chief Executive Officer on a five-year term effective from 1 October 2022.
The City of Windhoek (CoW) is set to approach its lawyers after Mines and Energy minister Tom Alweendo granted Ongos Valley the right to operate an electricity distribution company in its housing development despite its objections.
The number of trips taken by Namibians to local hospitality establishments continued to drop further in August 2022, from 17.9% in July 2022 to 15.7%, amid an increase in foreign arrivals.
Being a landlord can be a highly effective strategy for generating a secure monthly income.
DBN to provide N$135m loan for Windhoek’s power demands
September 30, 2022
The City of Windhoek has entered into a N$135-million loan agreement with the Development Bank of Namibia, to finance the Khomas intake substation project to ensure additional capacity to support the City’s forecasted power demand.
More...
Building the case for financial education in Namibia
September 30, 2022
The need for financial education among Namibians has increased over the past couple of years, with a continued increase in the levels of non-performing loans from the recently published financial statements of two of the big banking groups in the country.
TotalEnergies said an oil discovery off Namibia could be a “giant,” boosting speculation that the country is home to a prolific new hydrocarbon basin.
Global consultancy firm McKinsey and Company will pocket N$34.6 million (€2 million) to draft Namibia’s green hydrogen strategy, The Brief can reveal.
The country set aside N$87 million for consultancy work on its multibillion-dollar green hydrogen projects, as well as drafting a plan to promote the country's green hydrogen sector.
Namibian consultancy and advisory firm, Monasa Advisory & Associates has been subcontracted for some of the work.
The tab is being funded by the Germany’s Federal Ministry of Education and Research, (BMBF).
Besides Mckinsey, the government has enlisted the services of SYSTEMIQ, Cranmore, Hinicio, Clifford Chance, NREL.
“Despite the involvement of all these firms, it is crucial that the Government still puts shoulder to shoulder to execute the vision and plans that are jointly crafted with the Namibian private sector,” Presidential Economic Advisor and Green Hydrogen Commissioner James Mnyupe, told The Brief.
Mnyupe said the Namibian Government was fortunate to have received support from the German Government and the African Development Bank that enabled it to mobilise all of the above experts without incurring any fiscal expenses.
In addition, Namibia also secured almost N$53 million (US$3 million) through the African legal support facility (ALSF) from the African Development Bank.
However, this budget will be consumed over a two-years period.
"The other consultants are being funded by the ALSF from the AFDB. The ALSF ran the procurement process given that it’s a grant from the ALSF and other donors. Ministry of Finance and Attorney General’s Office were involved in reviewing the proposed arrangements from the ALSF and these were presented to the GHC for consideration," said the Green Hydrogen Commissioner.
He said in terms of the work distribution all the consultants are contributing to the strategy in one way or another.
"The other consultants (apart from McKinsey and Monasa) are assuring the government negotiating team with negotiations with Hyphen so that we can get to an implementation agreement as soon as possible," he explained.
The consistency tender was awarded by a Strategic Working Committee which is a partnership between Germany and Namibia, according to Mnyupe.
The Commissioner said the strategy is an example of impactful economic diplomacy which has been spearheaded by the Head of State and the Cabinet.
“The only way the Namibian Government envisions the incubation of a successful and thriving synthetic fuels industry in Namibia is through full cooperation between the Namibian Public and Private Sector and all the international counterparts that want to see Namibia succeed.
“We continue to encourage all Namibians to continue working well with local and international partners as we all push forward towards realising the aspirations of Vision 2030, which were boldly articulated by our founding fathers," Mnyupe said.
This comes as the country has ambitions to be one of Africa's first green hydrogen export hubs.
The government is banking on green hydrogen to attract more than N$107 billion (US$6 billion) in foreign direct investment (FDI) which is anticipated to generate annual revenues more than N$1.4 billion (US$800 million), while also contributing to its much-anticipated Sovereign Wealth Fund.
Earlier this month, Hyphen Hydrogen Energy, the preferred bidder to implement the country’s first green hydrogen project, has expressed optimism that the Namibian government will sign off an agreement before the year ends.
I believe one of my vocations is empowering people through teaching them what I have learned over the years. I have noticed over the years that teaching comes naturally to me, especially if I am teaching on subjects I am passionate about.