info_e12wt4cs – Page 485

08 Dec

Simonis Storms projects repo rate reduction in 2024

info_e12wt4csObserver Money

Martin Endjala Based on its recent report analysis of current monetary policy trends, Simonis Storm Securities has projected that Namibia will likely implement its initial repo rate reduction in the latter half of 2024. “We foresee this adjustment to be a modest decrease of 25 basis points, which is indicative of a shifting monetary landscape towards a more accommodative stance. This move corresponds with our forecasts of a gradually stabilising economic environment, as reflected in various key economic indicators,” read the report. The report comes after the Monetary Policy Committee of the Bank of Namibia after its final meeting of…

08 Dec

Debmarine Desert Jewels Secure Silver in Thrilling Africa Netball Cup Final

info_e12wt4csSportsDebmarine Desert Jewels Secure Silver in Thrilling Africa Netball Cup Final

Windhoek, Namibia – The Debmarine Desert Jewels gave a commendable performance at the Africa Netball Cup in Botswana, reaching the final and securing the silver medal position. Their podium dreams were narrowly edged out by Zambia, who accomplished a double victory over the Jewels, mirroring their success from the round-robin matches. In a statement from the President of Netball Namibia, Ms. Rebekka Goagoses, she extended heartfelt congratulations to the team, recognizing their exceptional talent, determination, and sportsmanship throughout the tournament. The Desert Jewels’ journey included losing only one of the five round-robin matches and delivering a captivating final that concluded…

08 Dec

Africa, the old horse of capitalist exploitation that Namibia seems to be learning little from

info_e12wt4csOpinionsAfrica

Is Namibia destined to forever keep experimenting before her wretched of the earth eventually start to test the fruits of her independence? Yours Truly Ideologically cannot but pose this pertinent question and muse about it. In view of the latest experiment in Green Hydrogen. Which for now, more than anything else, is just another experiment like many others before it. Most of which till this day have proven nothing but experiments, if not products of the wishful thinking of their presumed masterminds. From the beginning with the independence of the country, there are hardly, if any projects intended to meaningfully…

08 Dec

Fishrot trial must proceed despite hiccups

info_e12wt4csNational NewsFishrot trial must proceed despite hiccups

Niël Terblanché The notorious Fishrot corruption trial in Namibia is set to continue today despite a variety of legal challenges and plea requests from the accused individuals. Acting High Court Judge Moses Chinhengo has ruled that the trial must resume, rejecting further postponements, as key figures in the case remain without legal representation. The trial started almost four years after the corruption saga was uncovered, The prominence of the accused persons in Namibian society, namely the political and financial landscape from whence they hail, has had severe negative effects on Namibia’s fishing industry and its profitability. The case also caused…

08 Dec

Namcor completes annual marine tanker offshore jetty drill test

info_e12wt4csNational NewsNamcor completes annual marine tanker offshore jetty drill test

Martin Endjala The National Petroleum Corporation (Namcor) has announced the successful conclusion of its Annual Marine Tanker Jetty Offshore Industrial Drill test. The drill, conducted in collaboration with the Namibian Port Authority (Namport), the Namibian Navy, Namibian Police Force, Walvis Bay Municipality Traffic Department and the Walvis Bay Fire brigade, took place at the Namcor offshore Tanker Jetty on 1 December 2023. Namcor Marketing, Communications and Public Relations Manager Paulo Coelho said that this year’s drill was centred around a comprehensive offshore emergency response procedure, covering firefighting, evacuation, search and rescue operations. He added that the objective was to evaluate…

08 Dec

Namibia Affirms commitment to combat corruption

info_e12wt4csNational NewsNamibia Affirms commitment to combat corruption

Hertta-Maria Amutenja Namibia, while commemorating International Anti-Corruption Day, reiterated its commitment to the continued fight against corruption. During the event held in Katima Mulilo this week, Director-General for the Anti-Corruption Commission (ACC) Paulus Noa, underscored the global initiative launched by the United Nations Convention against Corruption in 2003, emphasising the shared responsibility of individuals in putting an end to corruption. Noa stressed the significance of Namibia’s adherence to the Convention since 2006, with the ACC leading the annual commemoration of the International Anti-Corruption Day. The core mandate of the ACC, he asserted, includes the investigation of corruption allegations and taking…

08 Dec

Namfisa imposes cap on some medical aid…Medicial aid industry worth N$1.9 billion

info_e12wt4csNational NewsNamfisa imposes cap on some medical aid…Medicial aid industry worth N$1.9 billion

Staff Writer The Namibia Financial Services Supervisory Authority (Namfisa) has embarked on proactive measures aimed at securing the long-term sustainability of the medical aid fund industry. In response to the escalating challenges posed by rising medical aid contribution rates, Namfisa says it is dedicated to members’ well-being and industry sustainability, and has implemented a temporary cap on some funds’ annual contribution increases, limiting it to a single-digit percentage (maximum increase of 9.99%). The industry has been given until 20 March 2024, to submit additional contribution increase applications along with realistic medium-term strategies to address the sustainability of the funds. Namfisa…

08 Dec

Payment delays are a major concern

info_e12wt4csNational NewsPayment delays are a major concern

Stefanus Nashama Alex Shimuafeni, the Statistician-General of the Namibia Statistics Agency (NSA), said that addressing payment delays, primarily due to verification processes, was a significant concern during the enumeration and post-enumeration survey periods. Apart from other challenges faced during these two critical phases, Shimuafeni shared these insights at a media conference held yesterday in Windhoek, providing an update on the 2023 population and housing census and the post-enumeration survey. “Fieldworkers faced compensation issues, and advocates, along with key stakeholders, worked tirelessly to resolve them,” Shimuafeni stated. To expedite the verification process and maintain accuracy, the NSA recruited additional temporary staff.…

08 Dec

Namibia urged to prioritise environmental sustainability

info_e12wt4csNational News

Hertta-Maria Amutenja The Chairperson of the Standing Committee on Agriculture, Environment, and Natural Resources, Melania Ndjago has stressed the need for Namibia to bolster its commitment to environmental sustainability. Drawing inspiration from discussions at the Nevsky International Ecological Congress held in Saint Petersburg, Russia, earlier this year, Ndjago outlined several key recommendations in a report aimed at fostering a green and sustainable future for Namibia. The first recommendation advocates for the government, specifically through the Ministry of Environment, Forestry, and Tourism, to construct or reinforce legal corridors that encourage and support organisations, individuals and businesses to operate in an environmentally…

08 Dec

NamPower pioneers innovative electricity storage solution

info_e12wt4csNational NewsNamPower pioneers innovative electricity storage solution

Niël Terblanché The Namibia Power Corporation (NamPower) has concluded the acquisition process of the engineering, procurement, and construction (EPC) contractor for the Omburu Battery Energy Storage System (BESS). According to Tangeni Kamangula, NamPower’s Manager of Corporate Communication and Marketing, the state-owned utility company is set to sign the contract for the establishment of the BESS project with the Shandong Electrical, Engineering and Equipment Group and Zhejiang Narada Power Source joint venture next Wednesday. Kamangula indicated that the signing of the contract will officially launch a new aspect of NamPower’s ability to provide electricity to the nation. The Omburu Battery Energy…