Windhoek Observer

Niël Terblanché The Namibian Government has announced plans to phase out its Export Processing Zones (EPZ) in favour of establishing Special Economic Zones (SEZ) in a significant policy shift aimed at revitalizing its international economic reputation. This strategic move, revealed by Minister of Finance and Public Enterprises, Ipumbu Shiimi, during the National Budget announcement in Parliament, comes in the wake of the European Union (EU) blacklisting Namibia as a tax haven. According to Shiimi, the Special Economic Zones (SEZ) Bill, earmarked for introduction in the National Assembly in the 2024/25 financial year, is a proactive approach by the government to…

Martin Endjala Economist and Independent Bank Researcher, Josef Sheehama, has decried the amount of N$106 million allocated to the Anti-Corruption Commission (ACC) by the Ministry of Finance and Public Enterprise. During the tabling of the National Budget in the National Assembly on Wednesday, Finance Minister Iipumbu Shiimi announced a 29.8 percent increase in the annual allocation to the ACC. The minister said the increase in funds is aimed at improving the ACC’s implementation capacity, particularly in the areas of combating anti-money laundering and financial crimes. The minister said, that despite the recent greylisting of Namibia by the Financial Action Task…

Martin Endjala As of 1 March 2024, all lodges under the management of the Namibia Wildlife Resorts (NWR) will offer a discount of 60 percent for local visitors to make it easier for them to experience the diverse landscapes and unique wildlife that Namibia has to offer. NWR Spokesperson, Nelson Ashipala, stressed the organisation's commitment to making domestic travel more accessible to Namibians. "Through our recent engagements with the public, we came to recognise the genuine concerns regarding the affordability of leisure travel," Ashipala stated. He said the special is open to all travellers, however, the hope is to see…

Martin Endjala Capricorn Group has recorded solid results with profit after tax for the six months ended 31 December 2023, increasing by 18.5 percent to N$827.6 million, compared to a profit after tax of N$698.2m that was reported in the comparative period in the prior year. This represents an increase of 19.4 percent in earnings per share to 152.4 cents. The annualised return on equity at half year increased from 16.6 percent to 16.8 percent. This announcement was made by Capricorn Group Chief Executive Officer Thinus Prinsloo this week. Prinsloo said the Group's strong performance is attributable to loan book…

Martin Endjala To reinforce Namibia's disaster risk management and food and nutrition security the Office of the Prime Minister and the World Food Programme (WFP) signed a Memorandum of Understanding (MoU) to implement a durable strategy aimed at building increased resilience. In this regard, the Executive Director in the Office of the Prime Minister, I-Ben Nashandi, and Dr George Fedha from the WFP signed the agreement earlier this week. The agreement is aimed at unyielding collaboration aimed at enhancing early warning systems, digitalizing food assistance through an electronic voucher system, and implementing a durable strategy for building resilience against food…

Hertta-Maria Amutenja Minister of Finance and Public Enterprises, Iipumbu Shiimi has announced the increase in the Old Age Grant and Disability Grant. The monthly grant will rise from N$1 400 to N$1 600. “Accordingly, the Old Age Grant and the Disability Grant will be increased from N$1,400 to N$1,600 per month effective on 01 April 2024,” said Shiimi. The minister made the announcement during the unveiling of the 2024/25 Financial Year Budget in Parliament yesterday under the theme, “Continuing the legacy of H. E. Dr. Hage G. Geingob by Caring for the Namibian Child”. This comes after late President Hage…