MARCH, 2020
The Namibia
ENERGY & SUSTAINABILITY News & Analysis
Renewable Energy Are We OnThe Right Track?
IN THIS MONTH’S ISSUE: Lüderitz Wind Farm Set to Take Off in 2020
Arandis Power Responds to the Public's Environmental Concerns
Is Fuel Efficiency Our Next Low Hanging Fruit?
Meet RDJ 2019 Graduates! RDJ 2020 Career Day Highlights
The NAMIBIA Country Briefing of RDJ Consulting
C O N T E N T S
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FromTheEditor
Quick Facts
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Economy at Large
Oil & Gas
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Electricity
Renewable Energy
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Water
Roads and Transport
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Financing
"Women in Industry"
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"Youth in Action"
Tenders and Careers
Introducing RDJ 2019 Graduates
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Highlights From 2020 Career Day
Contributing Authors
MARCH, 2020
From the Editor Renewable Energy Are We OnThe Right Track? Dear Reader,
RDJ Consulting Services CC is an advisory consultancy to the Energy, Water and Transport Sectors with a focus on sustainable operations and renewable energy.
PO Box 23738 Windhoek, NAMIBIA Telephone +264 61 400 171 EMAIL briefing@rdjconsulting.co.za WEBSITE www.rdjconsulting.co.za
It is very difficult for one to survive without access to basic needs such as water, food, clothing and shelter. As a result, electricity has now become "a necessity and not a luxury" (as pointed out recently by the Windhoek Mayor, Hon. Fransina Kahungu) since it is needed as a source of heating and lighting when used for survival activities. Despite the great demand for electricity, the world has been striving to improve the electricity mix by increasing renewables to reduce environmental damage and ensure a sustainable future for everyone. Namibia is no exception in this.Thus, The Government of Namibia via NamPower, has made the initial steps to include Independent Power Producer’s (IPP’s) into the electricity sector and will extend this through the implementation of the Modified Single Buyer (MSB) Model, and therefore stimulating further innovation and competition among players. One of the potential IPP’s, Arandis Power (PTY) Ltd (Arandis Power), has begun making steps into realising the construction of its 120 MW (flexible) power plant that can be expanded to 240 MW, which intends to use seven 17 MW Heavy Fuel Oil (HFO) engines to generate power. They also indicate that Hybridization is also possible with up to 45 MW of Solar PV. Meanwhile the GRN/NamPower plan seeks to implement a 40 MW Wind Farm project off the coast of Lüderitz amongst others. Considering these two major, but distinct projects laid out for the country, and keeping in mind the current global climate change challenges that worsened in 2019 after the burning of the Amazon and other related climate affecting scenarios, is Namibia on the right tract that could result with achieving a sustainable future in the electricity mix? To find out more, please enjoy reading this Publication which was carefully prepared for you by our interns and do join our conversations on Twitter and Wordpress along with our newly created sections namely “Women in industry” and “Youth in Action”. Further, if you are new to the RDJ Briefing, subscribe to this FREE Publication at briefing@rdjconsulting.co.za and freely share the link with others that will benefit from its contents. Enjoy….
(David A. Jarrett) Editor
Authors RDJ Interns*
This report is a FREE Publication and was prepared by RDJ Consulting Services CC based in Windhoek, Namibia. The content is collected from publicly available information and so its accuracy cannot be guaranteed.
quick facts Population size: 2.3 Million Employment: 66.6% Literacy rate: 89.0% GDP Growth (2018): -0.1% Repo Rate: 5.25% Interest rate (Prime): 10.00% Inflation (CPI): 2.5% Industries: Tourism, Mining, Fishing Telecom (sophistication): LTE Mobile - cell phones: 2.575 million Subscribers Water availability: 8 800 000 cubic litres/capita Electricity Gen. (Local): 484.000 MW Electricity Demand (all): 629.000 MW
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MARCH, 2020
THE ECONOMY AT LARGE A Review on the Impact of Coronavirus on the Namibian Economy AUTHOR: Ms. Naemi Shoopala Researcher @ RDJ Consulting
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fter hanging in the recessionary corner for about three (3) consecutive years, there were expectations for a break in the economic pattern
that fuelled optimism among Namibians with the hope that the country would return to growth in 2020. The year started with the annual inflation rates for goods and services recorded as the lowest in 14 years at 2.10%, and an expected domestic growth of about 1.5%, followed by a cut in the repo rate by 25 basis points to 6.25% in early February 2020. Bank of Namibia (BoN) and all economic stakeholders were once again optimistic that the country was on the recovery path after an estimated contraction of 1.9% in 2019. These expectations were true until the outbreak of the Corona Virus (COVID-19) in Wuhan China in December 2019. The economic effects that spilled over to Namibia and the rest of the world as a result of COVID-19 in China were inevitable but not as economically threatening and depressing to Namibia in comparison to current impacts experienced in other parts of the globe, including Namibia’s second biggest trading partner, South Africa.
China, Spain and Italy for exports, and these are the most hard-hit countries by COVID-19. The retail market is also negatively impacted as the relationship between customers and suppliers is affected, although there has been panic buying and an increased demand in the pharmaceutical sector. The Namibian Government together with the Bank of Namibia (BoN) are taking the necessary steps within their mandate to ensure the economy does not collapse. These include redirecting funds initially meant to celebrate the Independence Day towards the fight against COVID-19. BoN has also reduced the repo rate by a 100 basis points from 6.25% to 5.25% in order to cushion the anticipated impacts of COVID-19 and support domestic activity. The decision was done on 20 March 2020, following the South African Reserve Bank’s decision to cut the repo rate by the same basis points. Both global and local economic financial conditions are expected to remain highly volatile for the foreseeable future which calls for close and regular monitoring of economic aspects such as inflation in order to assess risks that are arising from price pressures, and the South African Rand depreciation which the Namibian Dollar is pegged to at par. The graph below shows the pattern of the South African Rand per US dollar from 01 March 2020 to 20 March 2020.
The president of Namibia and that of South Africa have both taken increasingly restrictive measures to contain the virus. Some of the measures in place in Namibia include cancelation of big gatherings (comprising of 50 people or more), suspension of inbound and outbound travel to and from Qatar, Ethiopia and Germany for a period of 30 days, Closure of all schools and higher institutions of learning, among others. The Virus has adversely affected tourism and the transport sector. As social distancing becomes the wisest course open to curbing further transmission of COVID-19, the Namibian economy through the multiplier effects caused by these measures could experience a collapsing hospitality sector. Restaurants and small businesses are most likely to receive less customers below average to meet return on investment which may lead to inadequate funds for salaries, operating expenses and compromised profits and lastly, closure. Exports are halted due to border closing by countries. Namibia heavily depends on
Readings: https://www.namibian.com.na https://www.fin24.com https://www.bon.com.na https://www.weforum.org https://www.sanews.gov.za
www.rdjconsulting.co.za
https://www.gov.za https://allafrica.com https://thepatriot.com.na https://southerntimesafrica. com
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MARCH, 2020
The Namibian Housing Market – An Analysis on Pricing Stability
AUTHOR: Ms. Naemi Shoopala Researcher @ RDJ Consulting
Image showing housing in Windhoek, Namibia. Credit: RDJ Consulting
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he Namibian property market has been correcting itself from the skyrocketing prices, especially in the capital city, Windhoek. The market is now in a
contraction of 2.5% y/y, Ondangwa (-34.7%), Rundu (-22.4%) and Ongwediva (-17.1%) respectively.
more stable state and is a key contributor to the gradual decrease observed in the Namibia Consumer Price index (NCPI) for the year 2019 and 2020 which currently stands at 2.50%.
The property market remains vapid as the price index remain poised uncertainly in a negative territory. This is attributed to the prevailing recessionary environment which has kept demand muted subsequently lowering prices. This translates to stability in The Namibian housing Market and improvements are expected to grow in the same direction with that of the economy at large. Predictions of the Namibian Economy done by Bank of Namibia (BoN) have leaned towards a positive sphere with growth expected to expand by 1.5% in 2020 and Inflation rate expected to fall. Based on this, it then expected that rental prices growth will mark a positive territory in the first quarter of 2020 before it stabilizes its long-term sustainable growth path.
The First National Bank (FNB) of Namibia published a Residential Property Report for January 2020, which indicated that the rental index contracted by 0.8% compared to 8.6% recorded in the same period of the preceding year. The recovery in this index resulted from price pressures coming from the 2-3-bedroom segments, which registered a growth of 6.6% and 16.2% year on year (y/y) respectively, compared to corresponding contractions of 10.2% and 11.7% year on year realized over the same period of the preceding year. Swakopmund recorded the highest rental prices in the fourth quarter of 2019, followed by Windhoek with an average of N$6 545 per month. Apart from Swakopmund which recorded a growth of 26.6% y/y and Oshakati with a growth of 6.7% y/y, most towns recorded a contraction in rental prices including Windhoek which reflected a
Readings: https://www.fnbnamibia.com.na/downloads/namibia/housingIndex /HousingIndexMarch2019.pdf http://namibiatradedirectory.com/wpcontent/uploads/2018/06/Housing-Index-2018_03.pdf https://informante.web.na/housing-market-stable/ https://www.bon.com.na/
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MARCH, 2020
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Meatco Expands its Market to the US
Image showing cattle in Namibia. Credit: RDJ Consulting
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fter making history by being the first African country to ever export beef to the People’s Republic of China in 2019, Namibia expanded its horizons and broke the record again as the first African country to export beef to the United States of America (USA) in 2020 though the Meat Corporation of Namibia (Meatco).
After undergoing several audits, health and safety protocols since Namibia became eligible in 2016, the company has in February 2020 managed to send out its first shipment of beef to the USA through the Walvis Bay port. This weighed about 860 metric tonnes however, this is expected to increase to approximately 5 700 metric tonnes per year by the fifth year of trade.
regulated under the Meat Corporation of Namibia Act, (Act 1 of 2001), Meatco is the national meat processing and marketing entity of Namibia, with the purpose to serve, promote and co-ordinate the interests of livestock producers in Namibia. The entity is owned by different private shareholders (70%) and by the Namibian government (30%).
Readings: Â https://www.meatco.com.na/ https://www.meatco.com.na/news/153/MEATCO-CHAIRPERSONANNOUNCED-AT-AGM-THAT-GOVERNMENT-WILL-TAKE-30-IN-FORMOF-EQUITY-AT-MEATCO-OWNERSHIP/ https://www.meatco.com.na/news/620/Namibia-Ships-First-BeefConsignment-to-US/
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MARCH, 2020
OIL AND GAS Namibia’s Diesel Prices Decrease as Global Oil Prices Fall
Refuilling at a local Fuel Station Image Credit: RDJ Consulting
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fter eight (8) months of steady fuel prices in Namibia, the Ministry of Mines and Energy has announced a reduction in diesel prices by 30 cents
per litre for the month of March 2020. The reduction only applies to Diesel prices, while Unleaded petrol prices remain the same. In Walvis Bay Diesel prices for March reduced to N$13.33 per litre, while petrol prices remain the same at N$13.05. The price cut comes amidst the Coronavirus (COVID-19) crisis which has caused global travel to collapse, digging into the world’s once-insatiable thirst for which powers the economy. The Minister of Energy in Namibia has stated that as a result of the Coronavirus (COVID-19) which started in China and has spread to all continents, the prices of refined oil, petrol and diesel decreased from US$70 and US$75 per barrel in January 2020 to US$65 and US$67 per barrel in February 2020.
March 2020 Fuel Prices
With restrictions on traveling and quarantines increasing, the demand for oil is low and hence, the prices on international markets have fallen and are expected to decrease even more. With most airlines cancelling flights, the cruise industry also being on hold and most factories closed, road transport is the last resort for movement. Despite the global prices of oil decreasing since the outbreak of the coronavirus, the future for local prices is still uncertain.
Readings: https://www.namibian.com.na/88787/read/Coronavirus-forcesdiesel-prices-down http://.www.mme.gov.na/files/publications/73a_Fuel%20Media_Rel ease_3%20March%202020.pdf https://www.cnn.com/2020/03/18/business/crude-oil-pricescoronavirus/index.html
N$ 13.05
N$ 13.33
per litre
per litre
95 Octane Unleaded Petrol
Diesel 50ppm
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MARCH, 2020
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Is Fuel Efficiency Our Next Low Hanging Fruit?
EDITOR: Mr. David Jarrett Managing Consultant @ RDJ Consulting
Image showing one of Shell's service stations (owner of Shell-branded fuels and lubricants that are marketed and distributed by Vivo Energy) in Namibia. - Image Credit: RDJ Consulting
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lthough we have regularly updated you on the need for both energy efficiency and climate change modifications in terms of fuel use, Vivo Energy
(Namibia) deserves a mention. Vivo Energy established in 2011 as a “distributor and marketer of Shell-branded fuels and lubricants” has launched a new diesel fuel that is considered to improve fuel efficiency. This claim is based on their testing the fuel on 170 vehicles (cars) that covered some 3 million kilometers. The fuel utilizes what is called DYNAFLEX technology which essentially keeps the engine “clean”. They however caution that drivers will have different experiences based on their driving styles, engine design and conditions. Efficiency is basically “getting more done (output) with less (input)”. A vehicle and in this case, car fuel efficiency is very important to Namibia as it is estimated that fuel (comprising all oil products) use accounts for some 74.6% of all energy demanded in Namibia in 2017. Thus, it is fair to conclude that any efficiency will result in major savings both in terms of the import bill to the country and downward pressure on consumer income. On another note, the current Oil Storage facility which is to cater for 75 million litres of oil will go a long way as a
strategic asset and resource if the vehicles using that fuel are efficient. The plan is to ensure that Namibia has sufficient reserves nationally that would cater for between 30 – 45 days of normal demand. From extrapolation, fuel use daily is estimated to be between 1.7 - 2.5 million litres a day. Energy efficiency of 10% all around (inclusive of all vehicles) could see the Oil Storage moving from say 45 days to 48 days. The introduction of electric vehicles to say the Windhoek public transport sector could drive this efficiency number even higher. All in all, we feel that Namibia is in a good place to start looking at policy that could yield immense benefits going forward and salutes Vivo Energy for a step in the right direction.
Readings: https://www.vivoenergy.com/Where-we-Operate/Namibia/Productsand-Services/Our-retail-offer/Retail-Fuels https://www.iea.org/countries/Namibia https://www.namcor.com.na/news/34-billion-dollar-bulk-storagefacility-to-improve-strategic-fuel-reserves http://www.mme.gov.na/files/publications/763_Minister%20Speech %20Oil%20and%20Gas%20Conference.pdf (page 3)
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MARCH, 2020
ELECTRICITY
Image showing electricity transmission powerline. Credit: RDJ Consulting
The MSB Model is Set to Bring About Competition
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ver since 1964, private entities that generated electricity had to exclusively market their electricity to NamPower and electricity providers could only buy from NamPower, this is because the power corporation has been the only electricity buyer in Namibia. Fortunately, this ended upon the introduction of the modified single buyers (MSB) model that was put into effect on the 1st of September 2019. According to the Minister of Mines and Energy, Tom Alweendo, the MSB model grants large power users that are allied to NamPower’s transmission network to barter directly to Independent Power Producers (IPPs). The Chief Executive Officer of the Electricity Control Board, Foibe Namene said this will bring about competition in the power generation industry by driving technical and economic efficiency, which will cause competitive electricity tariffs. She also added that the MSB model is a channel that will allow more investments from private sector entities in the market. The MSB is expected to diminish the funding burden because of the mutual transaction between IPPs and large power users. The government and NamPower will therefore no longer be uniquely responsible for building power plants, but rather open opportunities for the IPPs to implement innovative ideas.
Readings: https://www.nampower.com.na/public/docs/wattson/WattsOnNL%203rd%20Edition%202013.pdf http://www.ecb.org.na/images/docs/Rules_and_Regulations/MSB/ MSB_Detailed_Design_Report.pdf http://www.gsb.uct.ac.za/files/Namibia.pdf https://www.nampower.com.na/public/docs/wattson/Watts%20On %20Newsletter%20Edition%201%202019.pdf https://neweralive.na/posts/1-200-homes-to-get-electricity
Informal Settlements in Windhoek to be Electrified
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o improve the livelihood of the citizens of Namibia, the Ministry of Urban and Rural Development has invested N$14 Million through the City of Windhoek (CoW) for an electrification project in informal settlements in Khomasdal and Moses Garoeb constituencies. Speaking at the formal launch of the electrification of 1 200 homes in Otjomuise extension 6 and 7, and the Havana informal settlement extension 1 and 3, the CoW Mayor said that electricity is a necessity and not a luxury. The first part of the project which is expected to cost around N$6 million has commenced in February 2020 and expected to be completed by August 2020, while the following part is expected to start later in September 2020.
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MARCH, 2020
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RENEWABLE ENERGY
Image showing the Luderitz Wind Farm in the South of Namibia. Credit: RDJ Consulting
Lüderitz Wind Farm Set to Take Off in 2020
Arandis Power Responds to the Public's Environmental Concerns
amibia Power Corporation (NamPower) has been planning on implementing a 40-Megawatt (MW) wind farm project off the coast of Lüderitz in the Tsau/Khaeb (Spergebiet) National Park. The plant is part of their four-year corporate and strategic business plan for 2019-2023 and, is expected to have a lifespan of 25 years.
he Arandis Power plant is set to be built within 18 months after the signing of a Power Purchase Agreement (PPA) with Eskom. A value of approxim-ately N$2.3 billion has been invested for the thermal plant, which is an initiative that is 100% privately financed through a limited resource project finance format. The power plant has responded to the environmental concerns brought to light.
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Enviro Dynamics, an Environment Management Consultants’ firm that work with clients to optimize the social equity, economic efficiency and ecological sustainability of their projects was tasked to carry out the Environmental Impact Assessment (EIA) for the project. The Consultants provided a background information document on the project which declared that the wind farm is envisioned to create approximately 2.5 MW per wind turbine. The Consultants further disclosed that there are two plants to be constructed, specifically a 40MW plant, which will be owned and regulated by NamWater and a 50MW plant set to be owned by an Independent Power Producer. Construction is expected to begin by the end of 2020 and its completion is targeted for a period less than 18 months. The proposed project aims to diminish NamPower’s overall tariff to the consumers by providing the most economical renewable energy to Namibia’s grid.
Readings: https://www.namibian.com.na/88536/read/L%C3%BCderitz-windfarm-set-to-take-off http://www.met.gov.na/services/environmental-impactassessment-/233/
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In response to environmental concerns raised by the construction of the plant, the Arandis Power has assured that emissions were proven to be completely in line with the environmental emission standards of the World Bank. These emissions are significantly lower than those from a coal fired power plant. According to the Managing Director of Arandis Power, Ezio Vernetti, this project is not only expected to go hand-inhand with the drive to build more renewable energy projects in Namibia, but also expected to be profitable and to work successfully. He further explains that the plant can contribute to the set goal to achieve 100% electricity self-sufficiency in Namibia, lowering the overall cost of electricity paid today.
Readings: https://neweralive.na/posts/arandis-power-responds-toenvironmental-concerns http://siteresources.worldbank.org/INTRANETENVIRONMENT/Resour ces/GuidanceNoteonEnvironmentalRegulationandStandardsupdate .pdf
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MARCH, 2020
WATER Namibia Dam Levels Update
Author's representation of Namibia's Dam levels during the the First week of March 2020. (Adopted from NamWater's weekly dam bulletins) *Transfers took place from Omatako to Von Bach. Gate had release occurred; opened 01/03/2020 at 21:30 and closed 02/03/2020 at 5:10. **Transfers took place from Otjivero Silt to Otjivero Main. ***Transfers took place from Daan Viljoen to Tilda Viljoen
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ams across the country have been receiving a good inflow of water due to rainfall, causing an increase in the dam levels. The Hardap Dam near Mariental and the three dams supplying Windhoek and the central part of Namibia with water have received substantial inflows as seen in the diagram above. The Hardap Dam is Namibia's largest active dam (Neckertal is the largest), and is the main water source for Mariental residents and Hardap irrigation scheme farmers. The dam was the worst hit by drought with its content dropping to the lowest level since its construction in 1963. This led to a reduction in water supply to the Hardap irrigation scheme farmers. However, this scenario changed since the beginning of the rainy season therefore, Â farmers are now able to use water from the dam to irrigate their crops.
The Von Bach Dam near Okahandja, one of the main reservoirs supplying water to Windhoek has risen by 30% in the third week of February. The Swakoppoort Dam, another major water source for Windhoek and the central part of Namibia, had an inflow which raised its water levels to 24% during the second week of February. The Omatako Dam stood at 18% on the third week of February, while the Oanob dam, close to Rehoboth recorded an increase from 46.8% to 47.2%.
Readings: https://www.namibian.com.na/88418/read/Water-levels-rising-insix-dams https://www.namibian.com.na/88446/read/Hardap-Dam-levelrising https://www.namibian.com.na/88441/read/Rain-damages-Hardapcanal https://www.namwater.com.na/
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MARCH, 2020
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Image Credit: RDJ Consulting
Namibia Flood Inflow Update
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fter a long period of drought that has left most farmers in Namibia distressed from lack of food, water and their animals dying, Namibia has finally received some good rainfall although the water level observed, especially in the northern parts of the country flash potential flood alerts. Most of the country’s ephemeral rivers such as Omatako, Swakop, Omaruru and Kuiseb came down in flood due to good rainfall and high runoff activities in their catchment areas. The Hydrological Services department in the Ministry of Agriculture, Water and Forestry has advised through their daily flood bulletins for Contingency planning for flood mitigation and recovery to be activated in the Omusati, Oshana, Ohangwena, Kunene, Kavango West and Kavango East regions, and cautioned communities living in flood prone areas to take precautionary measures.
Additional Reservoir in Omuthiya to Ease Water Scarcity
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he Omuthiya residents are expecting a relief to their ongoing water shortage, following plans between the national water utility – NamWater and the Omuthiya Town Council to set up an additional reservoir. The town currently operates only on one reservoir that supplies the town of Omuthiya as well as surrounding villages that stretch about 30 kilometers. Due to the strain put on the reservoir, water pressure has slowed down and residents are often left with no water or experience low pressure. The implentation date for the new reservoir has not been set yet, however it is reported to be part of NamWater’s capital budget plans meant to solve water problems.
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MARCH, 2020
ROADS AND TRANSPORT Namibian Ports’ Operations and its New Container Terminal
Image showing a port in South Africa Image Credit: RDJ Consulting
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amibia has two ports on its coastline namely Lüderitz and Walvis Bay which are managed by Namibian Ports Authority (Namport).
The Port of Lüderitz which is located in the southern part of Namibia serves as an impor tant base for the fishing industry and the offshore diamond mining industries. The same offers excellent logis tical services and links to other towns in Namibia and South Africa as well. The Port of Walvis Bay is Namibia's largest commercial port, receiving approximately 3 000 vessel calls each year, and handling about 5 million tonnes of cargo. With its strategic location, it is the best port for global trade and hence is used by both local and Namibia’s neighbours that are landlocked for importation and exportation of goods. The Port provides service to indus tries such as the petroleum, salt, mining and fishing industries. With the port of Walvis Bay being a busy commercial port, a new container terminal was completed on reclaimed land at a cost of N$4.2 billion and commissioned in August 2019. In as much as the terminal has not yet been officially opened and its full capacity not yet known, Namport saw a positive development in terms of volume at the terminal last year. Between August and December 2019, the Port of Walvis Bay moved 69, 166 Twenty-Foot
Equivalent Units (TEUs), while approximately 15, 930 TEUs were moved in 2020. In terms of operations the terminal recorded the highest productivity in a decade at a rate of thirty-six (36) moves per hour, which increased to thirty-nine (39) moves per hour. Previously, records showed a total of twenty-six (26) moves per hour which increased to thirty (30) moves per hour. The new terminal is currently still operating in project mode as there are still minor aspects to be completed, such as Information and Communication Technology featureswhich are still to be fully tested before a full transition as well as several projects in terms of automation, including the “zero-error system” for maintaining yard integrity. According to Namport officials, work has also progressed on an ICT solution for breakbulk, and is expected to be rolled out in April 2020.
Readings: https://www.namport.com.na/ https://www.namport.com.na/ports/welcome-to-the-port-ofluderitz/523/ https://www.namport.com.na/ports/welcome-to-the-port-of-walvisbay/522/ https://www.namport.com.na/news/602/Namport-clients-eager-touse-new-container-terminal/
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MARCH, 2020
FINANCING Namfisa and NTA Promote Training to Insurance Intermediaries
Image showing RDJ Consulting offering training to the youth and its staff members on how to write Research Project Proposals. - March 2020 Credit: RDJ Consulting
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he Namibia Financial Institutions Supervisory Authority (Namfisa) and the Namibia Training Authority (NTA) have embarked on a projectÂ
through which insurance intermediaries (agents and brokers) rendering financial services to the public (policyholder/potential policyholder) will soon be subjected to a compulsory market entry examination. The examination is aimed at improving public confidence in financial services intermediation and enhancing the level of professionalism of the financial services industry. The qualification was registered on the National Qualifications Framework (NQF) in June 2019, and Namfisa intends on enforcing the examination for all insurance intermediaries as a prerequisite for licensing and registration.
This means that every insurance intermediary will be required to produce proof of entry regulatory examination competence prior to consideration for licensing and registration. This examination is aimed at improving public confidence in financial services intermediation and enhancing the level of professionalism of the financial services industry.
Readings: http://www.nta.com.na/ https://www.namfisa.com.na/ https://neweralive.na/posts/Namfisaand-NTA-to-introducetraining-for-insurance-intermediaries https://www.meinsurancereview.com/News/View-NewsLetterArticle/id/50346/Type/Africa
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MARCH, 2020
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DBN Deploys Project Preparation Fund for Nkurenkuru Extension
he Development Bank of Namibia (DBN) views local authorities as critical providers of infrastructure for communities and enterprises. Thus, to foster development through local authority activities, DBN makes direct finance available to local authorities, finances Public-Private Partnership (PPP) arrangements as well as contractors. Recently, DBN extended a N$2.58 million grant to the Nkurenkuru Town Council to determine the commercial viability of the town's proposed extension plans. The bank signed an agreement with the Nkurenkuru Town Council for a feasibility study for the town's proposed Extension 6, which would be funded by the bank's Project Preparation Fund (PPF). DBN’s goal is to play a leading role in the sustainable economic development. The PPF is created to improve the impact of large-scale development projects, thus making promising projects bankable by mitigating risks and improving feasibility.
The proposed extension of Nkurenkuru covers allocation of serviced land for residential and business purposes, as well as government, local authority and institutional entities which are important to bringing social services to the residents of Nkurenkuru and the Kavango West region. The Feasibility Study will be directed on commercial viability and by also examining the demand for facilities envisioned by the existing plan and its affordability. Nkurenkuru is the capital of the Kavango West Region of northern Namibia and is also regarded as the economic hub of the region. Kavango West is one of Namibia’s least economically active regions, and so the town requires intensive development. By developing the town, economic activity would then easily spread to outlying settlements and areas in the region.
Readings: https://www.dbn.com.na/products-services/localauthorities https://www.namibian.com.na/89310/read/DBN-provides-grant-forNkurenkuru-extension
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MARCH, 2020
WOMEN IN INDUSTRY
Share Your Story With Us Today. E: office@rdjconsulting.co.za / T:+264 61 400 171
YOUTH IN ACTION Introducing the 2019 Graduates
Olivia Joan De Celestino
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MARCH, 2020
CAREERS
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MARCH, 2020
CONTRIBUTING AUTHORS
David Jarrett (Managing Consultant) RDJ Consulting Services CC Chilombo Olga Priscila (Economist) RDJ Consulting Services CC Naemi Shoopala (Researcher) RDJ Consulting Services CC Misozi Mugala (Research Intern) RDJ Consulting Services CC Haikali Ndafimana Malakia (Research Intern) RDJ Consulting Services CC Kina Indongo (Communications Specialist) RDJ Consulting Services CC Lydia Kalilo Namutenya (Research intern) RDJ Consulting Services CC
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