Good morning. Its midweek! In this issue, we delve into these stories:

• Financial turbulence hits Debmarine Namibia with a 38% revenue drop.

• NUST, MTC, and NIFA launch Africa’s first Bloomberg Finance Lab, revolutionizing financial education.

• Namibia resists South Africa’s VAT hike, holding firm amid regional economic changes.

• Demshi invests N$220 million to expand its fiber network, boosting nationwide connectivity.

• CRAN phases out WiMAX, paving the way for advanced technology in Namibia.

• MVA Fund’s Fun Walk/Run offers a lively Saturday supporting a worthy cause and community engagement.

Read on for more on these stories and more!☕

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BUSINESS & ECONOMY

Debmarine Namibia Faces Financial Headwinds - A 38% Revenue Drop!

Debmarine Namibia has reported a significant 38% decline in revenue to N$8.5 billion for 2024, primarily due to reduced diamond prices and lower production levels. The company mined 2.234 million carats of rough diamonds, a 4% decrease from 2023.

Key Challenges:

• Market Conditions: The global demand for natural diamond jewelry dropped by 3.5% in 2024, exacerbating the decline.

• Financial Impact: Earnings before interest, tax, depreciation, and amortisation (Ebitda) plummeted by 86% to N$951 million, reflecting a N$7.1 billion loss over two years.

• Operational Adjustments: Debmarine has invested in new equipment to enhance efficiency and recovery rates, despite a 13% reduction in total assets.

Future Outlook:

• Government Support: The Namibian government is committed to supporting the industry through collaborative measures to mitigate the impact of the downturn.

• Strategic Response: Mines and energy executive director Penda Ithindi emphasize the need for proactive strategies beyond cost-cutting to secure the industry's future.

The Bottom Line:

Debmarine Namibia's financial challenges highlight the broader difficulties facing the diamond industry. As the company navigates these headwinds, strategic investments and government support will be crucial for recovery and long-term sustainability.

Source: Mining and Energy

Africa’s First Bloomberg Finance Lab Lands at NUST

The Namibia University of Science and Technology (NUST), teaming up with Mobile Telecommunications Limited (MTC) and the Namibia Investment and Finance Academy (NIFA), launched Africa’s first Bloomberg Finance Lab yesterday. This cutting-edge setup delivers real-time access to global financial markets - think Wall Street vibes, right in Windhoek!

The Highlights:

• What’s New: A high-tech lab packed with 12 Bloomberg Terminals, giving students and pros hands-on tools for analytics, investments, and risk management.

• Big Deal: It’s the first of its kind in Africa, putting Namibia on the map for financial education.

• Who’s Cheering: Deputy Minister of Sport, Youth and National Service, Hon. Dr. Emma Kantema-Gaomas, called it a win for aligning education with jobs. “It’s about real-world experience for grads and boosting national growth,” she said at the launch.

The Vision:

• The Boss Says: NUST Vice-Chancellor Prof. Erold Naomab isn’t messing around. “This bridges theory and practice, our grads will compete globally,” he promised.

• Why It Matters: The lab’s here to level up skills, making Namibia’s finance professionials ready for the big leagues.

The Bottom Line:

Windhoek’s now home to a game-changer. With this lab, NUST, MTC, and NIFA are betting on sharper skills and bigger opportunities - Africa’s finance frontier starts here!

Source: NUST Namibia

Namibia Stands Firm - No VAT Hike Despite South Africa's Move

Namibia is maintaining its independence in tax policy, choosing not to follow South Africa's recent VAT increase. The Ministry of Finance and Public Enterprises has confirmed that Namibia will keep its VAT rate unchanged at 15%, despite South Africa's decision to raise its VAT by 0.5% after initially proposing a 2% increase.

Key Points:

• Independent Tax Policy: Namibia's tax decisions are based on domestic conditions, focusing on fiscal balance, competitiveness, fairness, and boosting local economic growth (Capelao, Ministry of Finance).

• No Immediate Impact: The VAT increase in South Africa will not directly affect Namibia, as VAT is a domestic consumption tax and exports are zero-rated. Businesses can claim input VAT, mitigating immediate cost increases.

• Consumer Protection: Consumers are unlikely to see short-term price hikes, as businesses often absorb VAT changes to maintain sales volumes.

The Bottom Line:

Namibia's decision to maintain its VAT rate reflects its commitment to fiscal independence and protecting local businesses and consumers. As the country prepares to table its budget, this stance underscores its focus on domestic economic stability and growth.

Sources: The Namibian

TECH

Demshi Expands Fibre Network - N$220 Million Investment to Connect Namibia

Demshi Investment Holdings is taking a significant leap in Namibia's digital landscape with a N$220 million investment in its fibre network expansion! This second phase will cover 10 towns, aiming to complete the rollout by June 2025 and increase Demshi's total home passes to 50,000.

Key Developments:

• Regional Expansion: Demshi plans to extend its footprint beyond Namibia, targeting neighbouring SADC countries and eventually East Africa.

• Open Access Model: The fibre network operates on an open access model, allowing multiple ISPs to offer services, which enhances competition and reduces costs for consumers.

• Challenges: Delays in municipal approvals for wayleave applications have impacted the rollout schedule, affecting job creation opportunities for young Namibians.

Rehoboth Rollout:

• Deployment Underway: Demshi has begun deploying fibre in Rehoboth, aiming to cover the entire town with approximately 3,500 home passes.

• Partnerships: Demshi has partnered with Paratus to enhance internet access in Rehoboth, ensuring reliable connectivity.

The Bottom Line:

Demshi's fibre expansion is set to transform Namibia's internet landscape, offering faster and more reliable connectivity. As the company navigates regulatory challenges, its commitment to digital inclusion and regional growth positions it as a key player in Africa's telecom sector.

Sources: The Brief

CRAN Pulls the Plug on WiMAX - Embracing Modern Technologies

The Communications Regulatory Authority of Namibia (CRAN) has officially discontinued WiMAX technology, citing its obsolescence in the face of superior 4G LTE and upcoming 5G networks. This move reflects the shift towards faster and more reliable broadband solutions.

What is WiMAX Technology?

WiMAX (Worldwide Interoperability for Microwave Access), is a telecommunications technology aimed at providing wireless data over long distances in a variety of ways, from point-to-point links to full mobile cellular type access.

Key Developments:

• Reasons for Discontinuation: WiMAX struggles to meet today's speed and reliability demands, especially with high-definition streaming and cloud computing. Sourcing parts for maintenance has also become challenging as manufacturers focus on newer technologies.

• Migration Plan: CRAN has implemented a structured plan for Telecom Namibia to transition WiMAX customers to alternative technologies within a specified timeframe, ensuring minimal service disruption.

Transition Timeline:

• Urban Areas: Six months for urban areas in Khomas, Erongo, Kavango West, and Oshana regions; nine months for other urban areas.

• Rural Areas: A 24-month timeline for rural areas to ensure a smooth transition.

Consumer Protection:

• No Abrupt Discontinuation: CRAN emphasizes that customers will be migrated to alternative technologies without any abrupt service cutoffs.

• Regulatory Oversight: CRAN's CEO, Emilia Nghikembua, reaffirms the authority's commitment to maintaining high service standards and protecting consumer interests during this transition.

The Bottom Line:

CRAN's decision to discontinue WiMAX marks a significant step towards modernizing Namibia's telecommunications landscape. By embracing newer technologies, Namibia is poised to enhance its digital infrastructure, improve service delivery, and align with global standards for broadband connectivity.

Sources: The Brief

PERSONAL DEVELOPMENT

Quote of the Day

"In the middle of difficulty lies opportunity." — Albert Einstein

This quote encourages you to view challenges as opportunities for growth and personal development. It's a reminder that every obstacle can lead to new insights and successes.

Additional Tip:

• Reflect and Refocus: Use Wednesday as a midpoint to reflect on your progress and refocus on your goals. Identify areas where you can improve and make a plan to tackle them with renewed energy and determination.

Events

Get Ready to Run for a Cause - MVA Fund Fun Walk/Run This Saturday!

This Saturday, join the MVA Fund Fun Walk/Run in Windhoek and be part of a movement that combines fitness with a noble cause! The event, happening on March 22, 2025, is a great opportunity to promote road safety awareness and support the Motor Vehicle Accident Fund's mission to prevent accidents and assist those affected.

Why Participate?

• Road Safety Awareness: Your participation helps raise awareness about the importance of road safety in Namibia, a critical issue that affects us all.

• Community Engagement: It's a chance to connect with like-minded individuals who share a passion for fitness and community service.

• Fun for All: Whether you're a seasoned runner or just looking for a fun walk, this event is designed for everyone to enjoy.

The Bottom Line:

By joining the MVA Fund Fun Walk/Run, you're not only improving your health but also contributing to a safer and more responsible driving culture in Namibia. Let's lace up and make a difference together!

Event Details:

• Date: Saturday, March 22, 2025

• Location: Windhoek

• Organizer: MVA Fund

Let's Run for Road Safety! 🏃‍♀️🏃‍♂️

Source: MVA Fund Namibia

Note: Not sponsored

Happy Wednesday folks!☕

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- Revolox Team