Namibia pioneers world’s first carbon credits from nopal cactus farming
Namibia is set to become the first country in the world to generate carbon credits backed by nopal cactus farming, with Nopal Renewable Energy Corporation spearheading the initiative.
The company is investing N$1.8 billion in a large-scale nopal cactus farm in Maltahöhe, aiming to establish Namibia as a leader in carbon sequestration through agriculture.
Nopal Carbon Farming seeks to transform Namibia’s arid lands into productive carbon sequestration and bioenergy sites.
https://t.co/6HeEr3Kclq #namibia #cactusfarming #carboncredit @NIPDB
Jason Kasuto, Chairperson of the Economic Association of Namibia, during his official opening address on Wednesday, announced that the 2nd Edition of the Namibia Oil and Gas Conference has attracted an overwhelming response, with over 900 attendees—surpassing the anticipated 700. Kasuto emphasized that this strong turnout reflects Namibia’s readiness to leverage opportunities in the oil and gas sector and the growing global interest in the country. #namibia #oilandgas
Welwitschia Sovereign Wealth Fund assets grow to N$440m
The Welwitschia Sovereign Wealth Fund has achieved significant growth since its inception in 2022, nearly doubling in value and consistently surpassing its performance benchmark.
The Fund is benchmarked against the Norwegian Government Pension Fund Global.
Central Bank Governor Johannes !Gawaxab said initially capitalised with seed capital to the tune of N$260 million, the Welwitschia Sovereign Wealth Fund’s assets under management have now grown to an amount of N$440 million.
https://t.co/9O7t9UCSFW #namibia #sovereignwealthfund #Assets #Investments
Energy ministry lifts wholesale petroleum license moratorium, retail ban stays
The Ministry of Mines and Energy has announced the lifting of the moratorium on the issuing of wholesale petroleum licenses, effective 16 August 2024.
According to the Ministry, the moratorium, which has been in place since 15 August 2022, was instituted to allow for improvements in the licensing system and processes to better serve the public.
The Ministry has,however, maintained the moratorium on issuing new retail licenses , while it continues to assess the fuel retail market with a view to reviewing the suspension.
https://t.co/dHtN4jSqoP #namibia #fuel #retail #fuellicenses
Ministry of Mines receives 600+ new mining exploration applications
The Ministry of Mines and Energy reported a significant surge in exploration activity, with over 600 new licence applications submitted as of December 2023.
The upward trend has continued into 2024, with an additional 400 applications received since January, bringing the total to over 1,000 new applications.
Minister of Mines and Energy Tom Alweendo said the influx of applications is a positive indicator of the growing confidence in Namibia’s mineral potential.
He said mining can create jobs, generate government revenue, and significantly boost the country's economy.
https://t.co/D7wZH6BG9H #namibia #mining #exploration #newlicences #minerals @NIPDB
Namibia’s green industrialisation strategy requires over N$980 billion
Namibia's green industrialisation strategy will require a total investment of over US$55 billion (N$980 billion), a latest report shows.
The government and the GH2 Namibia programme have outlined a strategy to achieve this, allocating US$15 billion (N$267 billion) for crucial infrastructure development and an additional US$40 billion (N$713 billion) to attract investment into green industries.
The strategy notes that securing these funds will depend on innovative financing methods and effective public-private partnerships.
https://t.co/mRLVQgE3XC #namibia #greenhydrogen #investment @NIPDB
The Minister of Finance and Public Enterprises, Iipumbu Shiimi, introduced a bill to amend the Income Tax Act of 1981.
The proposed amendments include substituting the currency symbol “R” with “N$” and replacing the currency “Rand” with “Namibia Dollar.”
The bill also aims to provide for a youth internship allowance, limit the setting-off of assessed losses, insert certain definitions, exclude financial institutions, registered insurers, and registered reinsurers from the application of Section 95A, increase the income tax threshold for individuals, reduce the tax rate for non-mining companies, and address incidental matters.
The Minister also introduced a bill to amend the Value-Added Tax Act, of 2000. The amendments seek to replace the phrase “Permanent Secretary” with “Executive Director," expand the import declaration and payment of tax on imported services, increase the monetary threshold required for VAT registration, raise the amount of cash sales below which a tax invoice is not required, change the interest rate applicable to refunds due to a registered person, change the interest rate on overdue tax amounts, and provide for incidental matters.
Serafia Nadunya
#NBCNews #nbcdigitalnews #nbcDSTV282 #nbcGOtv20 #nbcPlusApp
Green Hydrogen projects create over 200 jobs and N$170 million in SME contracts
Green hydrogen pilot projects in Namibia’s Central Valley have generated over 200 jobs and awarded nearly N$170 million in contracts to local small and medium-sized enterprises (SMEs).
Namibia Green Hydrogen Programme Head of Impact and ESG, Eline van der Linden, said the efforts are part of the ongoing development of the green hydrogen sector, with each job representing a new opportunity in the emerging field.
https://t.co/xnSIk5rIlu #namibia #greenhydrogen #jobs #contracts #smes @NIPDB
A siting African President's passing goes unnoticed, no acknowledgment or moment of silence as an Afcon game kicks off... Are we truly united in Africa?
Announcement of the Passing of H.E Dr @hagegeingob, President of the Republic of Namibia, 04 February 2024
Fellow Namibians,
It is with utmost sadness and regret that I inform you that our beloved Dr. Hage G. Geingob, the President of the Republic of Namibia has passed on today, Sunday 4 February 2024 at around 00h04 at Lady Pohamba Hospital where he was receiving medical treatment from his medical team. At his side, was his dear wife Madame Monica Geingos and his children.
His medical team, as I informed the nation only yesterday has been trying its utmost best to ensure that our President recovers. Regrettably,notwithstanding the team’s spirited effort to save his life, sadly, fellow Namibians, President Geingob passed on.
Fellow Namibians,
The Namibian nation has lost a distinguished servant of the people, a liberation struggle icon, the chief architect of our constitution and the pillar of the Namibian house. At this moment of deepest sorrow, I appeal to the nation to remain calm and collected while the Government attends to all necessary state arrangements, preparations and other protocols. Further announcements in this regard will be made.
While keeping the President’s bereaved family, and you, dear fellow Namibians, in our thoughts and prayers, Cabinet will convene with immediate effect in order to make the necessary state arrangements in this regard.
May the Soul of our beloved Dr Hage G. Geingob Rest in Eternal Peace.
H.E. DR NANGOLO MBUMBA
ACTING PRESIDENT OF THE REPUBLIC OF NAMIBIA.
There's a viral video on TikTok right now of Rebecca Latimer Felton in 1929, age 94, and all the comments are people gushing over how "sweet" and "kind" she sounds.
A perfect exemplar of how white supremacy weaponizes white femininity to endear itself.