We are back and Just Launched a Web App☕ - Issue #17

We are back and Just Launched a Web App☕ - Issue #17

Greetings, Dear Subscribers!

We apologize for the lengthy delay since our last newsletter issue, it has been far too long. But we're thrilled to be back with a jam-packed issue full of the latest updates from the Namibian business world. In this edition, we've got an impressive array of stories to share - from Telecom Namibia's major network upgrades to Capricorn Group's ambitious new office tower in Windhoek. We'll also dive into the surge in new vehicle sales, the Namibian Competition Commission's approval of a key mining acquisition, and Microsoft's launch of its unified Teams app and much more. So without further ado, let's jump right in!

Mini Update: We just launched our web app last week. It is available for download on Chrome and Safari(read on to find out how to install it). Starting from this newsletter issue onwards, You will be able to listen to our newsletter issues in audio.

—Make sure to read the article in our personal development section, It might offer a bit of a clue on why we have been away for such a long time.—

ECONOMY

Poultry and Sugar Drive Namibia's N$789M Import Bill from Brazil

According to recent data from the Namibia Chamber of Commerce and Industry (NCCI), Namibia's imports from Brazil amounted to a staggering N$789 million in 2023.

The key takeaways:

• Namibia's imports from Brazil were dominated by poultry meat and raw sugar.

• In contrast, Namibia's exports to Brazil only totaled a mere N$13 million during the same period.

• This represents a significant trade imbalance, with NCCI Vice President Patty Karuaihe-Martin noting that "Brazil can do more business with Namibia and we can do more business with Brazil."

The two countries are actively seeking to expand cooperation in various sectors, including health, defense, and renewable energy. At a recent Brazil-Namibia business summit, Brazilian officials encouraged greater collaboration and the exploration of new opportunities.

A key focus area is the health sector, where Brazil can offer expertise in medical research, pharmaceuticals, and healthcare infrastructure development. Both nations share a common vision for peace, development, and human rights, celebrating three decades of successful cooperation.

Brazil is also keen to explore partnerships in sectors like medical equipment, machinery, cultural products, IT, animal protein, and more. As the Director of the Department for the Promotion of Trade, Investment and Agriculture, Alex Giacomelli Da Silva, stated: "Our current trade focus is on a limited range of products, but we aim to diversify."

Source: The Brief

Toyota Leads Namibia's Surging New Vehicle Sales in July

The latest industry analysis shows that a total of 1,172 new vehicles were sold in the country during July 2024 - an impressive 18% increase compared to the previous month.

The Key Figures:

• Total new vehicles sold in July 2024: 1,172 units

• Month-on-month increase: 18%

• Toyota brand sales: 671 units (over 50% of total)

• Top-selling model: Toyota Hilux with 323 units sold

• Toyota Fortuner sales: 102 units

• Light commercial vehicles sold: 365 units

• Passenger vehicles sold: 305 units

While this July figure represents the second-highest monthly sales for the year, it was still slightly lower compared to the same period in 2023.

However, there was a notable bright spot - new vehicle sales by rental agencies saw a substantial increase, rising from 54 units in June to 141 units in July. This underscores the growing strength of Namibia's tourism sector, which is bouncing back strongly.

Another key finding is the easing of inflation in the motor vehicle sub-category of Namibia's Consumer Price Index. In July 2024, this segment saw a year-on-year increase of just 5.6% - the most subdued rise since December 2022.

Bottomline: This suggests that the new vehicle market in Namibia is navigating the current economic challenges relatively well, providing some much-needed relief to consumers.

Source: The Namibian

BUSINESS

Capricorn Group Breaks Ground on Landmark Windhoek Office Building

The Capricorn Group, one of the country's leading financial services providers, has broken ground on a brand new 13-story office building in Windhoek's central business district.

The Key Details:

• Location: Corner of Independence Avenue and Kasino Street in Windhoek

• Timeline: Expected to be completed by June 2026

• Job Creation: Over 250 local jobs during the construction phase

• Tenants: Capricorn Group and its subsidiary Bank Windhoek

• Notable: Bank Windhoek Main Branch, operating in Windhoek for 42 years, will relocate to the new building

Capricorn Group Chairperson Johan Swanepoel emphasized the project's broader economic impact, stating that the jobs created during construction will "bolster the local economy, enhance the livelihoods of residents, and ultimately contribute to a robust and prosperous community."

The building itself has been designed with sustainability and innovation in mind, adhering to world-class green building standards to minimize environmental impact. This aligns perfectly with Capricorn Group's purpose of being "Connectors of Positive Change."

As Capricorn Group CEO David Nuyoma put it, "This groundbreaking ceremony symbolizes our progress and relentless pursuit of innovation and positive change while remaining firmly rooted in our heritage and values."

Bottomline: With its sleek design and commitment to sustainability, this new Windhoek landmark is poised to make a lasting impact on the community.

Source: The Brief

Namibia Greenlights Shanjin's Acquisition of Osino's Twin Hills Gold Project

The Namibian Competition Commission (NaCC) has given the green light for Chinese company Shanjin to acquire all outstanding shares in the Canadian mining firm Osino Resources.

The key details:

• The acquisition deal is valued at around C$368 million (approximately N$25 per share).

• Shanjin's buyout offer represented a 32% premium over Osino's previous agreement with Dundee Precious Metals.

• The acquisition will give Shanjin control of Osino's flagship Twin Hills Gold Project, located 150km northwest of Windhoek.

• A feasibility study on Twin Hills has described it as a technically simple and economically robust open-pit gold operation, with an estimated 13-year mine life and average annual production of over 162,000 ounces.

Osino President and CEO Heye Daun stated that the NaCC's clearance, along with the previous approvals from Chinese and Canadian authorities, is the final outstanding requirement to conclude the deal. The closing is expected to occur on or before August 29th.

Bottomline: This acquisition marks a significant milestone for Namibia's mining industry, as the country's resources attract increased investment interest from global players like Shanjin. The Twin Hills Gold Project is poised to become a key asset in Namibia's diversified mineral portfolio.

Source: The Namibian

Windhoek Approves 421 Construction Plans worth N$535.8m in Q1 

The City of Windhoek saw a surge in new construction plan submissions in July 2024, even as the broader housing market remained subdued.

According to the latest data, Windhoek received 233 new building plans valued at a whopping N$227.5 million last month. This represents a slight increase from the 195 plans submitted in July 2023.

However, the number of approved plans actually fell from 209 to 189 during the same period. The real bright spot was the completion of 138 projects valued at N$115.1 million, a significant jump from the 48 projects worth N$51.3 million completed a year earlier.

"Completed projects saw a significant increase," noted Simonis Storm researcher Halleluya Ndimulunde. "This is despite a decrease in the number of approved plans."

The construction activity was particularly concentrated in Khomasdal, Katutura, and Goreangab, where new residential developments and additions/walls dominated the approved plans. Other active areas included Otjomuise, Pionierspark, and Klein Windhoek.

In contrast, Swakopmund experienced a slowdown, with only 39 plans submitted in July 2024, valued at N$50.1 million. This marked a sharp decline from the 66 plans worth N$64.7 million received a year earlier.

Ndimulunde attributed the overall sluggish demand for mortgage credit as a key factor dampening the broader housing market. However, she noted that the recent interest rate cuts by the Bank of Namibia could boost confidence and stimulate activity over time.

Bottomline: Despite the mixed signals, it's clear that Windhoek's construction sector remains resilient, with developers pushing forward with new projects across the city.

Source: The Brief

TECH

Telecom Namibia Invests N$100 Million to Upgrade Its Sturdy Network

Namibia's leading telecom provider, Telecom Namibia, has announced a major investment of between N$90-100 million to improve network quality and expand coverage across the country.

The key initiatives include:

1. Upgrading mobile sites from outdated 2G technology to the lightning-fast 3G and 4G standards. This will allow Telecom Namibia to offer its customers blazing-fast connectivity.

2. Deploying quality testing teams to decongest the network, leading to notable improvements in service quality and coverage in areas like Swakopmund, Okahao, and Okahandja. No more getting stuck in connectivity traffic jams!

Telecom Namibia CEO Stanley Shanapinda stated that this investment is crucial for meeting the evolving digital needs of Namibians. "We have a budget of roughly N$90 to N$100 million for improving the network quality of service," he said. "What we have done is upgrade a few mobile sites from 2G to 3G to 4G so that we can also expand the coverage."

To support these upgrades, the company has signed a 5-year deal with telecom giant Huawei to acquire cutting-edge mobile equipment and further strengthen its nationwide network.

Bottomline: These efforts are part of Telecom Namibia's strategic plan to modernize its tech and deliver world-class services to customers.

Source: The Brief

Microsoft Simplifies Teams Experience with New Single App for Personal and Work

Microsoft has finally launched a unified Microsoft Teams app that allows you to seamlessly switch between personal and work accounts.

After months of testing, the new Teams app is now available for both Windows and Mac users. This is a welcome change, as previously, you had to install two separate versions of the app to access your personal and professional Teams accounts.

The key features of the new unified app include:

• Support for personal, work, and education accounts in a single interface

• Improved experience for switching between different Teams tenants

• Ability to join meetings as a guest without signing in

• Personal and work accounts displayed side-by-side

Microsoft's VP of Product, Amit Fulay, explains that this update addresses the "long and messy history" of supporting both work and personal accounts in Teams. The previous double-app setup was quite confusing for users.

Now, with the new unified app, you can easily manage all your Teams activities in one place, whether you're joining a call with a customer or discussing a school fundraiser. Notifications have also been improved to better distinguish between your personal and work-related communications.

This streamlined approach is sure to be a productivity boost for Microsoft Teams users. No more juggling multiple apps or worrying about launching the wrong version. Just a single, seamless experience for all your Teams needs.

If you're already using Microsoft Teams on your Windows or Mac device, the update will happen automatically. Otherwise, you can download the new app directly from Microsoft's website.

Source: The Verge

PERSONAL DEVELOPMENT

The Importance of Enjoying Your Work - Adapted from Ali Abdaal

In a recent edition of his newsletter, YouTuber and medical doctor Ali Abdaal discussed the profound idea that "enjoyment is efficiency" when it comes to creative work. He shared a quote from a friend and mentor that suggests the key to doing something well is to focus on enjoying the process, rather than striving for perfection.

Abdaal went on to explore how being in an enjoyable state leads to greater energy efficiency and productivity, in contrast to forcing yourself through tasks. Interestingly, he noticed that his best performing YouTube videos tended to be the ones he most enjoyed filming - the ones that felt authentic and unscripted.

This resonates strongly with my own recent experience. After the intensity of my university exams back in May, I found myself in a state of burnout, trying to tackle everything at once and seeking perfection in all my work. I took a much-needed break to my village east of Grootfontein in mid-June, which initially helped me regain my energy. However, once I returned, I slipped back into the same burnout cycle, still forcing myself through tasks rather than finding joy in the process.

It wasn't until this past week that I had a pivotal realization. I recognized that my relentless pursuit of doing too much and striving for perfection was actually draining me, rather than driving me forward. Instead, I told myself it was better to focus on doing efficient, enjoyable work, rather than overwhelming myself.

Like Abdaal, I've concluded that my primary goal when it comes to this newsletter and any other project and side hustle of mine should be to create content and work that I personally find meaningful and fun to produce, rather than solely chasing metrics or impact. The process of creation should be the point, not just the end result.

The key takeaways that resonate with me are:

• Enjoyment can be a form of efficiency - when you're having fun with your work, you're more likely to create content that resonates.

• Authenticity matters - unscripted, from-the-heart content tends to perform better.

• It's okay to keep evolving your priorities - the journey is the point, not just the destination.

• Focus on creating things you genuinely enjoy, and trust that the right energy will translate to your audience.

Just as Abdaal has learned, I too am committed to prioritizing enjoyment over efficiency. By embracing the process and finding joy in my work, I'm confident I can recapture the sense of excitement and fulfillment that drew me to these pursuits in the first place.

Brandon Katjitundu - Cofounder & Chief Editor: Revolox

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