Observer – Page 4 – Windhoek Observer

28 Sep

Namfisa mediation sees N$5.6 million paid to complainants……. long-term insurance industry biggest culprit

ObserverObserver Money

Chamwe Kaira The Namibia Financial Institutions Supervisory Authority (Namfisa)’s intervention saw institutions under supervision paying back N$5.6 million to complainants as at 31 December 2022. Namfisa said in the 2023 annual report that the total amount paid to complainants decreased significantly by 52.1 percent to N$5.6 million as at 31 December 2022, compared with 2021. The N$5.6 million was paid out to 149 complainants with the highest amount, N$2.6 million, recovered from the long-term insurance industry, followed by N$1.5 million from the pension fund industry, N$1.2 million from the long-term insurance industry, N$270,041 from the micro lending and credit agreement…

28 Sep

De Beers’ campaign to help local diamonds

ObserverObserver Money

Chamwe Kaira The recently announcement by the De Beers Group that it will reintroduce its ‘A Diamond is Forever’ tagline with an additional US$20 million investment to support consumer demand in natural diamonds for the 2023 holiday season in the US and China will benefit Namibia at a time when the diamond industry is going through a tough time. Namibia production increased by 37% to 600 000 carats in the first quarter of this year, primarily driven by the contribution from the Benguela Gem vessel, which commenced production in March 2022. “This marketing campaign will help support demand for natural…

28 Sep

Choppies record N$615m revenue

ObserverObserver Money

Chamwe Kaira Retailer, Choppies Namibia recorded revenue of 443 million Botswana Pula (N$615 million) for the year ended 30 June 2023. Choppies runs 14 stores in Namibia. Choppies was established in the town of Lobatse in Botswana in 1986 and a massive expansion effort was begun in 2003. Choppies said retail sales in Namibia reached 440 million Botswana Pula (N$611 million). Choppies said Botswana and Namibia marginally grew gross profit rates while rates in Zambia and Zimbabwe declined. The retailer said Namibia has successfully turned around with sales growth of 60.0% and like-for-like sales growth of 14.4%. Five new stores…

28 Sep

PM advocates for stronger Public-Private Partnerships

ObserverNational News

Niël Terblanché Prime Minister Saara Kuugongelwa-Amadhila championed innovation, synergy, and collaborative growth among local authorities at the official opening of the Investment Seminar during the Amalgamated Rotational Annual Festival (ARAF) 2023. She spoke during the official opening of ARAF 2023 on Wednesday in Omaruru and said the seminar is focused on promoting mutual development between the local authorities of Omaruru, Karibib, and Usakos in the Erongo Region. Kuugongelwa-Amadhila commended the innovative efforts of the Mayors and Local Authority Councils for organizing ARAF to jointly foster development and avoid duplication of efforts. “When local authorities hold events together, it promotes mutual…

28 Sep

NAMDIA declares a record dividend of N$300 million to the government

ObserverMainNAMDIA declares a record dividend of N$300 million to the government

Martin Endjala The Namib Desert Company (NAMDIA) has declared a record dividend of N$300 million to the government for the 2022/23 financial year, marking a continual increase from the dividends declared in the previous years, including N$50 million for 2018/19, N$80 million for 2019/20, N$40 million for 2020/21, and N$150 million in 2021/22. Bryan Eiseb, Board Chairperson of NAMDIA, announced this milestone at the 2022/23 annual report launch in Windhoek. This declaration, he noted, is unprecedented in the history of the state-owned entity since its inception. Eiseb emphasized NAMDIA’s commitment to establishing itself as an institution guided by robust governance…

28 Sep

NAMFISA posts revenue of N$247 million

ObserverObserver MoneyKenneth Matomola, NAMFISA posts revenue of N$247 million

Martin Endjala The Namibia Financial Institutions Supervisory Authority (NAMFISA) disclosed a total income of N$246.7 million for the financial year ending 31 March 2023. This came with a total expenditure of N$260.6 million, marking a 4.3 percent (N$10.8 million) rise compared to the previous financial year. Kenneth Matomola, the Authority's Chief Executive Officer, revealed this financial snapshot yesterday during the unveiling of its annual report. Matomola said that despite facing significant challenges, notably the COVID-19 pandemic, Russia’s invasion of Ukraine, and surging commodity prices, the Authority sustained its mandate delivery. NAMFISA, he asserted, is concentrated on maintaining the financial stability…

28 Sep

NEFF calls for transparency and accountability in government tenders

ObserverNational Newse Central Procurement Board of Namibia (CPBN) to award a N$1.3 billion pharmaceutical supply tender, NEFF calls for transparency and accountability in government tenders

Hertta-Maria Amutenja The Namibia Economic Freedom Fighters (NEFF) have criticized the recent decision by the Central Procurement Board of Namibia (CPBN) to award a N$1.3 billion pharmaceutical supply tender to Cospharm Investment Pty Ltd, a company predominantly owned by a five-year-old child. In a pointed statement, NEFF Deputy Commander-in-Chief, Kalimbo Iipumbu, stressed that this decision is not only ethically questionable but also raises serious concerns regarding the prioritization of foreign interests over the welfare of Namibian citizens. “It is unconscionable for a billion-dollar tender to be entrusted to an individual who is barely old enough to attend school. The approval…

28 Sep

NamPol and NamPort unified in the battle against organised crime

ObserverNational NewsNamPol and NamPort unified in the battle against organised crime

Niël Terblanché A new Memorandum of Agreement (MoA) has been signed between the Namibian Police and the Namibian Ports Authority (NamPort), marking a crucial step in augmenting Namibia’s technical capacity to combat transnational organized crime. This development, embraced by both entities, promises quick and direct access to INTERPOL databases allowing for criminal data search and cross-checking in mere seconds. The Inspector General of the Namibian Police, Lieutenant General Joseph Shikongo and Andrew Kanime, the Chief Executive Officer of NamPort signed the mutual accord during a special ceremony in Walvis Bay earlier this week. The MoA is aimed at strengthening cooperation…

28 Sep

Importation of certain poultry products suspended again

ObserverFeaturedImportation of certain poultry products suspended again

Stefanus Nashama This week, Chief Veterinary Officer Albertina Shilongo, of the Ministry of Agriculture, announced the immediate suspension of the importation and in-transit movement of live poultry, birds, and poultry products from South Africa due to a rise in Highly Pathogenic Avian Influenza (HPAI) cases. According to a statement from the Ministry, the decision to reinforce control measures was prompted by HPAI infiltrating commercial, export-approved poultry compartments in South Africa. The objective is to prevent the introduction of HPAI into Namibia through poultry and their products. The ban encompasses live poultry, fresh frozen poultry meat, table eggs, day-old chicks, and…

28 Sep

Horse shoe Market struggles with a myriad of severe challenges

ObserverNational NewsHorse shoe Market struggles with a myriad of severe challenges

Hertta-Maria Amutenja Horseshoe Market, colloquially known as Uutala Wa Libertina, located at Katutura Single Quarters, serves as a central hub for vendors including barbers, hairdressers, and tailors. The market has recently attracted attention due to allegations surrounding unauthorized subletting of stalls and unclear ownership regulations. One vendor, who preferred to remain anonymous, expressed that they feel like they are paying rent twice. The vendor detailed that both she and her stall mate, a barber, are required to contribute N$600 each per month directly to the market’s bank account. Moreover, they must each pay an additional N$300 to the previous stallholders…