Views
1 week ago

New Era Newspaper Tuesday May 15, 2018

  • Text
  • Namibia
  • Windhoek
  • Farmers
  • Ministry
  • Regional
  • Livestock
  • Procurement
  • Residents
  • Bidding
  • Applicant

12

12 Tuesday 15 May 2018 NEW ERA Inside BUSINESS Marenica Energy acquires Mile 72 Uranium Project WINDHOEK – Australian company, Marenica Energy, has signed a binding agreement to purchase the Mile 72 Uranium Project located in the Erongo Region from Metals Australia Limited., the Namibia Stock Exchange (NSX) announced on Friday. It said the uranium project has significant exploration potential. The calcrede-hosted uranium project covers 2,692 hectares and is located in the world c l a s s E r o n g o u r a n i u m province in Namibia, some 30 kilometres outside Henties Bay. The agreement will see Marenica acquire full ownership of the project, and the company is subject to obtaining any regulatory approvals that will be required in Australia or Namibia. Marenica will pay AU,000 (approximately N7,855.34) cash, plus a preferential dividend of one per cent. “Mile 72 has been underexplored f o r c a l c r e t e u r a n i u m mineralisation and presents a great opportunity for the company to potentially delineate a high-grade resource, in a world class uranium province,” Managing Director, Murray Hill, is quoted as saying in the statement. Marenica is a mining and exploration company and is also listed on the NSX. – Nampa Mike Nghipunya An illustrative photo of uranium mining in progress. Photo: Nampa Nghipunya pins Fishcor’s failures on past regime PUBLIC LECTURE ON INFORMATION TECHNOLOGY IN PUBLIC AND PRIVATE SECTOR INSTITUTIONS At a time when public finances are under strain, governments must deliver new services and improve existing ones, while operating more efficiently and with greater transparency and technology is at the core of addressing these challenges. The public lecture aims to address how to better serve the public/private sector by leveraging IT to improve existing services and deliver new ones. TARGET AUDIENCE 1. CIO 2. ICT Staff in the Public/Private Sector Institutions 3. Individuals with a keen interest in ICT BENEFITS OF ATTENDING NIPAM PUBLIC LECTURES 1. NIPAM public lectures give partcipants extensive exposure to new insights and a chance to exchange ideas. 2. A chance to network with industry peers. 3. Renewed motivation - The aim of NIPAM public lectures is to leave participants with renewed motivation to pursue organisational goals and rekindle their enthusiasm. 4. An opportunity for participants to reflect on their practices. ABOUT THE PRESENTER Lee Jenkins provides leadership for the continued development of an innovative, robust, and secure information technology solutions. Jenkins has provided solutions to customers in Public Sector, Health, Financial Services, Manufacturing and Telecommunications. His extensive experience is around Database, Operations, Security and DevOPs. He is a regular contributor to ITWeb on diverse ICT topics. Jenkins has over 27 years in ICT industry, working for companies in Australia, Canada and South Africa. Date: Thursday, 17th May 2018 Time: Venue: 18h00 – 20h00 NIPAM Campus Although there is NO FEE, booking is required due to limted seats: Interested persons are requested to send an email indicating their intention to attend the lecture. To register contact: Mr. Katoole Ipinge Email: kipinge@nipam.na Telephone: 061 296 4798 Cell: 081 126 1628 WALVIS BAY – The previous leadership of National Fishing Corporation of Namibia (Fishcor) had no understanding of its mandate and failed to fully exploit Namibia’s marine resources, its Chief Executive Officer (CEO), Mike Nghipunya, said Saturday. While pointing fingers at his predecessors led by CEO Ronnie Coppin, for the poor financial state, Nghipunya was quick to note that he could not respond on their behalf. “I cannot explain the losses because I was not the CEO then. So, the CEO at the time will explain the losses better,” said Nghipunya during a media tour of Fishcor’s onshore horse mackerel processing facility under construction. Asked what changes he made to transform the entity from the once loss-making business into a profit-making and efficient company, Nghipunya, who was appointed acting CEO in 2014 before assuming the position in a substantive capacity at the end of 2016, said knowing and understanding Fishcor’s potential was key in this regard. “We started making profits because we knew the potential and privileges of the group that we exploited for us to start making profit,” he said. Nghipunya tremendously improved Fishcor’s production, catch and refrigeration capacity, which were all lacking from the previous leadership. “We have had our vessels operating continuously and consistently, which was not the case in the previous years because the vessels are part of the cost,” he said. According to Nghipunya, they invested in the right fishing vessels and repaired those that were in an ailing state, which improved both their catching capacity and revenue. “That was the catch,” he said. Between 2008 and 2014, F i s h c o r a v e r a g e d N $ 6 0 million in revenue generation. However, in the last three years since Nghipunya took charge, the company has recorded profits of N9 million, N9 million and N5 million in 2015, 2016 and 2017, respectively. Quizzed whether the sudden upward trajectory in their profits could be attributed to its lion’s share fishing quota that is worth more than N.8 billion, Nghipunya retorted that the quota was not sustainably utilised because there was no catch capacity. “There was no production efficiency; that is what we brought in.” On whether they were being spoon-fed by the fisheries ministry as reported by the media, he said: “Yes, it [quota] did help us to revitalise the processes of the company, which is your processing capacity and catching capacity.” H e t h e n d o w n p l a y e d suggestions that Fishcor was receiving special preference from fisheries minister Bernhardt Esau. “If you are saying that we are being spoon-fed then it means every company that has received a quota has been spoon-fed by the ministry.” Nghipunya said poor corporate governance, job insecurity, lack of operational capital and poor management were some of the factors that hindered the company’s operations in the past. - Nampa

Tuesday 15 May 2018 NEW ERA Inside BUSINESS 13 African utility week kicks off in Cape Town High data costs hamper growth of small businesses in SA JOHANNESBURG - Internet connectivity has become an indispensable business tool for most entrepreneurs in South Africa, but the high cost of data is hurting many Small and Medium Enterprises (SMEs), an industry expert said on Monday. Data connectivity and digitisation were vital in levelling the playing field for SMEs, allowing them to compete with larger, more established companies in their industry, said Jeremy Lang, regional general manager at Business Partners Limited, a specialist risk finance company for formal SMEs. “However, the high cost of data in the country is severely impacting the profitability and productivity of many SMEs and start-up businesses and can be a notable prohibitor when it comes to accelerating SME growth,” he said. He cited a new survey by research consultancy BDRC Continental which ranked South Africa 97th out of 196 countries in terms of competitive pricing, below other emerging economies such as Guatemala, Morocco and Tunisia. Mobile data in South Africa is the most expensive out of the African continent’s six leading economies. “Just as an example, the average cost of 1 gigabyte of mobile data in South Africa is between R99 and R150,” Lang said. “Taking into account that a business is likely to rely on massive amounts of data being exchanged within the span of a month, the cost adds up incredibly quickly. Kenya, which is the second most expensive economy for mobile data, is a little over half that price.” Lang said mobile connectivity was also important, with an increasing number of entrepreneurs needing to be mobile for their businesses. The growing popularity of mobile payment software and technology was also making it easier for SMEs to offer their customers card and online payment facilities, increasing the size of sales and orders they could process at a time.” Making use of cloud services and online tools to manage data also helped reduce operating costs and improve efficiency, but SMEs could not exploit these benefits to their full extent if data costs remained high. “South Africa needs more investment in communication and data infrastructure in order to improve accessibility, as well as improved regulations and incentives to bring down data and technology costs for the SME market,” Lang said. “Growing the SME sector needs to be a priority, and making data more affordable and accessible can go a long way in making this happen.” - Nampa/ANA CAPE TOWN - African Utility Week kicks off at the Cape Town International Convention Centre (CTICC) today, with a key focus of this year’s event being the future of Africa’s power and energy sector. The three-day event, from May 15 until May 17, will see heads of departments, ministers and experts addressing, amongst others, Cape Town water outlook 2018 on how is the City of Cape Town working towards shifting cultural behaviour of water consumption. Phakamani Hadebe, interim group chief executive at Eskom will on today deliver a welcome address under the theme “Building a skilled and dynamic JOHANNESBURG - Mining company Lonmin said on Monday weak platinum prices and currency movements continued to create a difficult operating environment. In its report for the six month ended March 31, Lonmin said total tonnes mined were workforce”. South Africa’s energy minister Jeff Radebe will also speak at the event. Graeme Codrington, an expert on the future of work, and co-founder and international director of TomorrowToday, a global firm of futurists and business strategists, will speak under the theme “Future of work and the disruptive forces that are shaping it”. “We are not just living a time of turbulent change, we are actually experiencing an era shift in history. The rules for success and failure are being rewritten, and there is no ‘business as usual’ anymore. This is true in every industry and every market,” he said in a statement. down 1.1 per cent, reflecting the planned reduction from high cost areas. It said following an offer from Sibanye-Stillwater to acquire Lonmin, management’s principal objectives in 2018 were to continue to manage the “In this environment, the task of the leader must change. The best leaders today are those people who know what to do when nobody knows what to do, and are able to navigate confidently through uncertainty and paradox. To be successful in a time of such turbulence requires insights into the disruptive forces that are changing our world and a new toolkit of skills for the leaders who must navigate the changes. This presentation provides a compelling picture of the near future, proving that we are living through an era shift in history, and provides a toolkit for future-focused leaders to use to navigate deeply disruptive change.” - Nampa/ANA Lonmin says mining operating environment “difficult” MARKET OVERVIEW deliverables within its control and remain at least cash neutral. “We are making good progress with the transaction and expect to complete in the second half of the 2018 calendar year,” Lonmin said. - Nampa/ANA Change Latest 3 months 0.00% 6.90% 6 months 0.00% 7.40% CGP CAPRICORN INVESTMENT GROUP L 1748 0.00% 9 months -0.02% 7.56% NBS NAMIBIA BREWERIES LTD 4500 0.00% 12 months -0.02% 7.82% BVN BIDVEST NAMIBIA LTD 780 0.00% Change Latest FNB FNB NAMIBIA HOLDINGS LTD 4614 0.00% GC18 (R204 : 6.71%) 0.01% 7.62% ORY ORYX PROPERTIES LTD 2036 0.00% GC21 (R208 : 7.4%) -0.01% 8.22% NAM NAMIBIAN ASSET MANAGEMENT LT 67 0.00% GC24 (R186 : 8.32%) -0.01% 10.12% NHL NICTUS NAMIBIA 180 0.00% GC27 (R186 : 8.32%) -0.01% 10.22% BMN BANNERMAN RESOURCES LTD 37 -2.63% GC30 (R2030 : 8.74%) -0.02% 10.34% DYL DEEP YELLOW LTD 249 -0.40% GC32 (R213 : 8.82%) -0.02% 10.53% SILP STIMULUS INVESTMENT LTD-PREF 12129 0.00% GC35 (R209 : 9.08%) -0.02% 10.51% FSY FORSYS METALS CORP 105 -0.94% GC37 (R2033 : 8.91%) -0.02% 10.91% TUC TRUSTCO GROUP HOLDINGS LTD 829 0.00% %Change Latest B2G B2GOLD CORP 3509 -1.65% Gold -0.05% $ 1,318.61 Platinum -0.13% $ 921.65 Copper 0.00% $ 6,942.00 Brent Crude 0.76% $ 77.11 %Change Latest NSX (Delayed) -0.60% 1400.49 JSE All Share -0.25% 58,275.79 SP500 0.17% 2,727.72 FTSE 100 -0.21% 7,708.34 Hangseng 1.35% 31,541.08 DAX -0.41% 12,948.48 %Change Latest Financials -1.09% 17,481.71 Resources 0.15% 39,222.13 Industrials -0.11% 75,918.95 %Change Latest N$/US dollar 0.08% 12.2674 N$/Pound 0.53% 16.6595 N$/Euro 0.53% 14.6995 US dollar/ Euro 0.33% 1.1983 Latest Previous Namibia Inflation (Mar 18) 3.5 3.5 Bank Prime 10.50 10.50 BoN Repo Rate 6.75 6.75

New Era

New Era Newspaper Vol 22 No 167

Kundana

Kundana