Namibia

Extreme weather conditions predicted because of climate change in Namibia are likely to have a tremendous effect on the 70 per cent of the country's people who live in rural areas and depend heavily on agriculture. According to experts in climate change, Namibia has no option but to adapt to the changing climate as radical changes in weather, such as extreme dry spells and exceptionally heavy rainfall, are forecast for the Southern African country.

Oil giant BP has entered the oil rush in Namibia by clinching 25 per cent of the equity in Chariot Oil & Gas’ exploration license in the orange Basin. The transaction is in the form of a farm-out agreement and was conducted through Enigma Oil & Gas Exploration, a wholly-owned subsidiary of Chariot. The new share structure of Block 2714A is Petrobras, as operator, with 50 per cent, with BP and Chariot sharing the remaining interest. The partners hope to strike an estimated nine billion...read more

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‘Colonialism signified nothing less than the collective traumatising of the Namibian people who must carry the heavy burden of the consequences for generations,’ writes Shaun R. Whittaker.

Wal-Mart has wrapped up its much contested merger with Massmart, paving the way for the retailer to take-over Game, Makro, Windhoek Cash & Carry and Builders Warehouse in Namibia. The US giant issued a statement saying it has completed its acquisition of 51 per cent of the shares in Massmart in a N$16,5 billion transaction. Lucius Murorua, chairman of the Namibian Competition Commission (NCC), confirmed that the latest development also allows Wal-Mart to enter the Namibian market.

NAMRIGHTS is alarmed by what appear to be renewed death threats directed at one of the seven key accused persons in the alleged AVID Investments Corporation-Social Security Commission (AVID-SSC) financial fraud, suspected to come from people fearing their involvement in the case will be exposed.

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