info_e12wt4cs – Page 328

11 Jul

Public servants can now stand for elections without quitting their jobs

info_e12wt4csNational News

Erasmus Shalihaxwe Minister of Urban and Rural Development Erastus Uutoni has tabled amendments to Section 77 of the Electoral Act of 2014, which will allow public servants to be nominated and accept nominations as candidates for the National Assembly election without having to resign from their employment. Previously, Article 47 of the Electoral Act required public servants nominated for the National Assembly elections to resign from their jobs. The Law Reform and Development Commission was tasked with reviewing the Act, producing a report, and making recommendations to Parliament. This week, Uutoni presented a motion to consider the amendments as a…

11 Jul

Rural patients struggle for medical attention at Outapi District Hospital

info_e12wt4csNational News

Martin Endjala A few metres away from the Outapi District Hospital in the Omusati region, a family waiting for medical help for their sick child, is battling the elements while sleeping under a thorn tree. Helena Maitjavi and her nine-year-old daughter, Tivasha, have been camping in a tiny green tent under a thorn tree while they await the laboratory results. "Tivasha has been coughing for a while, but they took samples of her saliva and told us to come back next week. "We don't have money to go up and down,” said Helena. They travelled from Oshifo near Ruacana to…

11 Jul

IPPR and PDM call for Whistleblower Act activation

info_e12wt4csFeatured, National News

Martin Endjala The Whistleblower Protection Act, passed in 2017, urgently needs to go into effect, according to the Institute for Public Policy Research (IPPR) and the Popular Democratic Movement (PDM). Graham Hopwood, the executive director of IPPR, made the call on African Anti-Corruption Day, observed annually on July 11. This year's theme is “Effective Whistleblowers Protection Mechanism: A Critical Tool in the Fight Against Corruption”.“ “In view of this, the IPPR, through its Integrity Namibia project, calls on the government to urgently operationalise the Whistleblower Protection Act, which was passed in 2017. Seven years later, this crucial law remains unimplemented,…

11 Jul

Grootfontein single-quarter residents fight for dignity

info_e12wt4csMain

Hertta-Maria Amutenja The moment you step into the Grootfontein Single Quarters, the pungent smell of urine greets you from what should be ablution facilities. The stench is overwhelming as if the very air is saturated with years of neglect. Scattered rubbish and crumbling buildings tell a story of forgotten people and forsaken promises, remnants of the apartheid era. This is the condition in which residents of single quarters have lived for years. “There is no difference from this pigsty we are in,” said Linus Iyambo, who has been living in the single quarters since 1992. These quarters, erected in the…

11 Jul

Non-banking financial Institutions worth N$419 billion

info_e12wt4csObserver Money

CHAMWE KAIRA The Non-Banking Financial Institutions (NBFI) assets amounted to N$419.4 billion at the end of 2023, according to figures given to Observer Money, by the Namibia Financial Institutions Supervisory Authority (Namfisa)’s Chief Executive Officer, Kenneth Matomola. Number of regulated entities as at 31 December 2023, included 78 active pension funds, seven medical aid funds, one active friendly society, 14 long-term insurance companies, 14 short-term insurance companies, 21 special purpose vehicles, 21-unit trust management companies, 31 investment managers, 31 unlisted investment managers, 560 microlenders, one stock exchange, four linked investment services providers, four stockbrokers, including sponsors. Namfisa exists to supervise…

11 Jul

Green hydrogen is ‘win-win’ for Namibia, Germany

info_e12wt4csEnergy, Observer Money

CHAMWE KAIRA Germany has ambitious targets of preventing climate change that are in line with internationally agreed commitments, Thomas Feidieker, Head of Development Cooperation at Embassy of the Federal Republic of Germany in Windhoek told Observer Money this week. Feidieker said reducing the use of fossil energy to decarbonize the German, as well as the global economy, is high on the agenda. The German interest follows several complementary and interdependent targets, he said. “The cooperation between Namibia and Germany as well as the European Union is particularly close because of the late President Hage Geingob’s vision to develop the Green…

11 Jul

Medical aid funds under close monitoring

info_e12wt4csObserver Money

Namibia Financial Institutions Supervisory Authority (Namfisa), Chief Executive Officer, Kenneth Matomola talks about the state of the non-banking financial sector, the state of medical aid industry and new innovations being supported by Namfisa. Observer Money (OM): How would you describe the performance of Non-Banking Financial Institutions (NBFIs) in the first half of 2024? Kenneth Matomola (KM): According to the data collected from the NBFI sector by Namfisa, despite the contractionary monetary policy environment, demand for NBFI products remains strong. The NBFI sector remains financially sound and does not pose any systemic risk to the country’s financial system. Overall, the NBFI…

11 Jul

ANIREP achieves requirements for solar plant

info_e12wt4csEnergy, Observer Money

CHAMWE KAIRA Alpha Namibia Industries Renewable Power Limited (ANIREP) informed shareholders this week that it has successfully fulfilled its Engineering, Procurement, and Construction (EPC) obligations for the Omburu 26.134MWp Solar PV Project and the issuance of the performance certificate by NamPower. The company said this significant achievement reflects ANIREP's Group commitment to delivering high-quality renewable energy solutions. ANIREP said as part of obligations outlined in the contract signed on 16th December 2020, between the HopSol Africa Pty Ltd / Tulive Private Equity Pty Joint Venture and NamPower and the Central Procurement Board of Namibia, shareholders were notified that the contractor…

11 Jul

Rates cuts expected at year end

info_e12wt4csObserver Money

CHAMWE KAIRA Simonis Storm Securities expect the South African Reserve Bank to implement its first rate cut in September. The firm believes that the political landscape in South Africa shows positive signs moving forward, but economic growth remains subdued, and further evidence is needed to confirm sustained improvement. In contrast, for Namibia, the firm project the Bank of Namibia to implement a 25 basis points cut by the end of 2024. The South African Reserve Bank decided to keep its key repo rate at 8.25% on 30 May marking the sixth consecutive meeting at 2009-highs, as widely expected. While the…

11 Jul

Namfisa urges customers to ensure fair resolution

info_e12wt4csObserver Money

CHAMWE KAIRA Namibia Financial Institutions Supervisory Authority (Namfisa), Chief Executive Officer, Kenneth Matomola has encouraged Namibians to lodge their complaints with Namfisa to ensure a fair resolution when they have disputes with non-banking financial institutions. He explained that a complaint must first be lodged with the financial institution concerned and the clients must ensure that they receive a response in writing. If not satisfied with the response received from the financial institution, a complaint must be lodged with Namfisa. He said the complaints can be emailed, or submitted in person at the Namfisa head office, faxed or sent by post.…