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New Era Newspaper Monday October 16, 2017

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10 Inside BUSINESS

10 Inside BUSINESS Monday, October 16 2017 | NEW ERA Local future developers challenged Windhoek With the aim to stimulate innovativeness and creativity amongst young software developers and future entrepreneurs in Namibia, Standard Bank in collaboration with the Namibia Business Innovation Institute (NBII) and other sponsors challenged bright minds to come up with an app that will aid in solving 5 columns X 26 cm LOAN BOOK ACCOUNTANT Accurately perform impairment calculations in accordance correctness and completeness of transactions processed and eye for detail the housing shortage amongst low to noincome communities in the country through a Hackathon competition, affectionately re-phrased ‘App-a-thon.’ From the 6th to 11th of October, seven teams consisting of 43 students were tasked with developing an app that would assist in raising awareness and funds for of Namibia to build more brick houses for Appraise and evaluate new loan applications and investment Perform detailed analysis of loan applications and Prepare appraisal reports for submission to relevant credit Winners… - Photo: Contributed the less fortunate. Over the course of three days the youngsters bravely applied their minds and talents innovatively to challenge each other to create and present their app prototypes in The closing date for applications for the position of Business Analyst is Wednesday, 25 October 2017. front of a panel of judges. This was followed by the top three teams presenting their app applications to the chief executive of Standard Bank Vetumbuavi Mungunda and Professor Pio Lumanga, NBII caretaker and director of the Namibia University of Science and Technology. The overall winning team was Code Masters that scooped the grand prize of N,000. The 1st runner-up went to Team Money that won N,000 and the 2nd runner-up was Team Mean Syntax that walked away with N,500. After viewing the presentations, Mungunda expressed his excitement and gratitude to the youngsters for having put so much work and effort into the initiative. “I am really pleased to see the thinking behind and potential outcome of what this can do for Namibians. Through Buy-a-Brick we are currently building 60 houses a year, and with these innovative ideas we can scale it up to 1,000 houses a year or even more. One of the biggest challenges in Namibia is housing, which is a real social challenge in our country. I am really passionate about people growing and I encourage you to take your learning forward to make us greater and better people. Winning is about learning and skills,” said Mungunda. NBII’s caretaker Professor Pio Lumanga expressed his gratitude to Standard Bank for engaging with young people by harnessing their innovative potential in the bank’s Buy-a-Brick initiative “The ability to deliver a tangible result or solution is what I think a character of a good entrepreneur is and we need to harness this innovative potential. It is all about teamwork, leadership and the ability to learn from each other,” said Lumanga. The Hackathon which took place at NBII’s facility in Windhoek brought together the following participating teams: Team Mean Syntax, Team Code Bridge, Team Code Masters, Team Cylon, Team Pay Coding Academy, Team Money and Team House Coders. Adds value… Riana Guriras, a small-scale miner from Omaruru, makes jewellery from gemstones, some of which are exported to Germany. The gemstones, mined in the Erongo Region, include tourmaline, topaz, aquamarine, amethyst and garnet. Guriras exhibited her work during the case in the capital last week. Photo: Emmency Nuukala

Monday, October 16 2017| NEW ERA Inside BUSINESS 11 Ethiopian Airlines tops industry as Rising Star Carrier of the Year Staff Reporter Windhoek Ethiopian Airlines Group, the largest cargo operator and logistics centre in Africa, has been crowned the Rising Star Carrier of the Year both in industry and customer choice. The shining light of Africa’s aviation industry, Ethiopian received the award at the Payload Asia Awards 2017 gala dinner and awards ceremony recently held in Singapore. Payload Asia magazine, a respected voice of the air cargo industry, honours excellence in the sector with more than 90 nominations competing for 20 awards categories and more than 25,000 online votes in the Customer Choice Awards, with the results ultimately audited by an Assurance. Group CEO Ethiopian Airlines, Tewolde GebreMariam, said: “We are glad that Ethiopian Cargo & Logistics Services is recognized as the Rising Star Carrier of the Year for the third year in a row. As one of the strategic business units under the Ethiopian Airlines Group, Ethiopian Cargo & Logistics Services has been one of the success stories in the effective implementation of our ambitious plan set in our long-term strategic roadmap, Vision 2025: currently operating in a state of the art cargo terminal, capable of accommodating one million tons freighter destinations using the Supporting export of perishables and import of high value goods of the booming Ethiopian economy and the entire African continent, Ethiopian Cargo & Logistics Services is playing vital roles in the growth of trade, investment and economic integration. “Infrastructure development being one of the four pillars of growth strategic roadmap, Vision 2025, we have embarked building the second phase, Cargo Terminal III, which will add another 600,000 tonnes annual capacity and position Ethiopian Cargo & Logistics African language driven ‘chat-bot’ Staff Reporter Windhoek Ovamba Solutions, Inc. and Microsoft have African language driven ‘chat-bot’ designed to serve the millions of African SMEs that face lenges of functional and business literacy. The chat-bot was conceived, designed and created by Ovamba and Microsoft and will be rolled out via Ovamba’s mobile app, ‘Ovamba Plus’. Ovamba’s president and co-founder, Prashant Mahajan, expressed their innovative ambitions to Josh Holmes, director of Microsoft Partner Catalyst Division at Microsoft’s Seattle, Washington campus. In delving into the challenges of FinTech solutions on the African continent, Viola Llewellyn explained to Microsoft: “Current banking processes and some FinTech solutions - contracts assume that all SMES are fully literate, and actually end up further alienating those who may not be able to read or speak French, English, Arabic or any other colonial language. If we don’t address this then we are missing the true promise of FinTech and the opportunity to include the informal sector in GDP count.” In response to the opportunity to serve the African continent, Microsoft put a team together headed up by Shawn Cicoria, Lilian Kasem and Claudius Mbemba to help Ovamba create the chat-bot. Prashant Mahajan led Ovamba’s tech team on the project and commented on the potential to help the millions who need support to grow. “Ovamba has been supporting SMEs with ‘Growth-As-A-Service®’ for the last year and realizes that business training and formal education are a luxury not afforded to some members of Africa’s entrepreneurial sector, and are often taught in western languages. We can help them to sustain growth by delivering business support and training in the language that they are most used to.” Claudius Mbemba shared the Partner Catalyst Team’s enthusiasm for the project on the Microsoft Developer blog stating, “We plan to continue our work with Ovamba, especially building an African dialect language recognition system to enable application localization Star group… Fitsum Abdy, MD Ethiopian Cargo & Logistics receiving the award at Payload Asia 2017. Photo: Contributed MARKET OVERVIEW Change Latest 3 months 0.01% 7.03% 6 months 0.00% 7.44% CGP CAPRICORN INVESTMENT GROUP L 1816 -0.11% 9 months 0.00% 7.63% NBS NAMIBIA BREWERIES LTD 3725 0.00% 12 months 0.01% 7.84% BVN BIDVEST NAMIBIA LTD 785 -0.13% Change Latest FNB FNB NAMIBIA HOLDINGS LTD 4675 0.00% GC18 (R204 : 7.03%) -0.06% 7.94% ORY ORYX PROPERTIES LTD 2064 -0.05% GC21 (R208 : 7.53%) -0.07% 8.35% NAM NAMIBIAN ASSET MANAGEMENT LT 72 0.00% GC24 (R186 : 8.61%) -0.06% 9.83% NHL NICTUS NAMIBIA 189 0.00% GC27 (R186 : 8.61%) -0.06% 10.22% BMN BANNERMAN RESOURCES LTD 36 -5.26% GC30 (R2030 : 9.2%) -0.07% 10.87% DYL DEEP YELLOW LTD 231 4.52% GC32 (R213 : 9.27%) -0.07% 10.98% SILP STIMULUS INVESTMENT LTD-PREF 12129 0.00% GC35 (R209 : 9.55%) -0.06% 10.98% FSY FORSYS METALS CORP 123 -5.38% GC37 (R2033 : 9.41%) -0.07% 11.41% TUC TRUSTCO GROUP HOLDINGS LTD 520 0.00% %Change Latest B2G B2GOLD CORP 3683 -1.60% Gold 0.61% $ 1,301.65 Platinum 0.66% $ 944.40 Copper 0.00% $ 6,887.00 Brent Crude 1.79% $ 57.31 %Change Latest NSX (Delayed) -0.02% 1178.52 JSE All Share 0.07% 57,790.28 SP500 -0.17% 2,550.93 FTSE 100 -0.14% 7,545.68 Hangseng 0.06% 28,476.43 DAX 0.27% 13,017.80 %Change Latest Financials 0.32% 15,721.66 Resources 0.79% 35,987.32 Industrials -0.25% 79,268.74 %Change Latest N$/US dollar -1.30% 13.3011 N$/Pound -0.89% 17.7134 N$/Euro -0.96% 15.7893 US dollar/ Euro 0.35% 1.1871 Latest Previous Namibia Inflation (Sep 17) 5.6 5.4 Bank Prime 10.50 10.50 BoN Repo Rate 6.75 6.75 Services among the world’s largest cargo terminals equivalent to cargo terminals in Amsterdam Schiphol, Singapore Changi, or Hong Kong. “Finally, I wish to take this opportunity to congratulate our cargo team for the job well done and encourage them to achieve more success.” customers.” The team added: “We look forward to tackling these challenges and more in our future work with Ovamba.” Ovamba is a US-founded FinTech innovator that develops online platforms and mobile applications to serve small and medium enterprises (SMEs) in emerging markets with short-term funding for growth.

New Era

New Era Newspaper Vol 22 No 167