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GIPF net asset value increases to N$151 billion

GIPF net asset value increases to N$151 billion

Martin Endjala The Government Institutions Pension Fund (GIPF) has recorded an increase in its asset value of N$151 billion for the 2023 financial year, compared to N$147 billion recorded in 2022. GIPF’s Chief Executive Officer, Martin Inkumbi announced this during the launch of the integrated annual report year ended 31 March 2023. Inkumbi said the Fund’s investment return has increased by 7.7 percent to N$6.5 billion, compared to an increase of 10.8 percent (N$11.6 billion) in the prior year. Adding that the increase is attributed mainly to favourable investment returns during the period under review. The Fund has N$110 billion…
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Fuel prices skyrocket amid global oil tension

Fuel prices skyrocket amid global oil tension

Niël Terblanché The Ministry of Mines and Energy in Namibia has announced a significant hike in fuel prices that will come into effect tomorrow, 3 April 2024, marking a steep increase for motorists and industries alike. According to the ministry, the price of petrol will increase by 152 cents per litre and both types of diesel by 72 cents per litre. Prices at the pumps in Walvis Bay will henceforth be N$22.30 per litre for petrol and N$21.77 per litre for diesel. The ministry said the sharp increase has been attributed to a mix of global and domestic factors, including…
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Walvis Bay community protest against Redforce

Niël Terblanché A public outcry has emerged against RedForce Debt Management, a company contracted by the municipality of Walvis Bay, to recover outstanding debts from residents. This discontent culminated in a protest march, with demonstrators demanding the municipality sever ties with RedForce over their debt collection methods. Residents in a petition argued that the firm’s practices have not only exacerbated their financial burdens but have also led to essential services, such as water supply, being disconnected for some. The Walvis Bay Municipality's decision to employ RedForce stems from an attempt to recoup approximately N$375 million in debt. The municipality stated…
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AG to evaluate climate resilience program costs

AG to evaluate climate resilience program costs

Martin Endjala The Auditor General's Office is gearing up to evaluate the financial impact of Namibia's climate resilience and adaptation strategies as outlined in the Social Development Goals (SDGs), specifically goal 2.3, in the 2024/25 fiscal year. This initiative, part of the newly incorporated Environmental Audit, was announced by the Minister in the Presidency, Christina //Hoabes, during her budget speech in the National Assembly. With advancements in the extractive industry, the ministry is eager to align with the government's green energy and extractive industry goals, prompting the integration of the Environmental Audit for the upcoming financial year. //Hoabes detailed that…
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Walvis Bay Council allocates more land for affordable housing

Niël Terblanché The Walvis Bay Backyard Tenants Association is celebrating a significant milestone in their journey towards homeownership after the Municipal Council greenlit the allocation of land at Farm 37, earmarked for the development of low-cost housing. The decision marks a crucial step forward in addressing the housing crisis in Namibia's major harbour town. Farm 37, located on the outskirts of Walvis Bay, was identified back in 2015 as a potential solution to the pressing demand for housing and land. The area has since become the only hope for many residents striving to build their own homes. The allocated Portion…
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NEKA elects new leadership amidst political tensions

NEKA elects new leadership amidst political tensions

Niël Terblanché The Namibian Exile Kids Association (NEKA), a youth group representing individuals born to Namibian parents in exile during the liberation struggle, held its annual general meeting (AGM) in Otjiwarongo. President Nangolo Mbumba, who also serves as the patron of NEKA, lauded the association for its enduring role in championing the rights and welfare of its members while preserving the cultural heritage linked to Namibia's fight for independence. In a statement delivered on his behalf by the Minister of Environment, Forestry, and Tourism, Pohamba Shifeta, President Mbumba celebrated NEKA's efforts in uniting its members and promoting a sense of…
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Claims that President Mbumba only engages northern traditional leaders dismissed

Claims that President Mbumba only engages northern traditional leaders dismissed

Erasmus Shalihaxwe The Press Secretary for the Presidency, Alfredo Hengari, said the notion of President Nangolo Mbumba choosing to only engage traditional leaders from the northern regions is misleading information. Hengari was responding to information that has been making rounds in the media, which states that President Mbumba has only chosen to engage and listen to traditional leaders from the northern areas. This came after Mbumba's recent visit to the north where he had a meeting with traditional leaders, which left traditional leaders from other regions unimpressed. Hengari said, President Mbumba recognises the key role played by traditional authorities in…
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Namibia and Russia strengthen bilateral relations

Namibia and Russia strengthen bilateral relations

Niël Terblanché Namibia’s Minister of International Relations and Cooperation, Dr Peya Mushelenga, recently concluded talks with his Russian counterpart, Foreign Minister Sergey Lavrov. The meeting, held in Moscow, marks a crucial step in reinforcing the already robust relationship between Namibia and Russia, underpinned by a shared history of struggle and mutual respect. It was reported by Russian media that both ministers acknowledged the modest level of bilateral trade as an area needing improvement. The ministers expressed optimism about the potential growth in trade, with the Intergovernmental Commission on Trade and Economic Cooperation playing a pivotal role in this endeavour. The…
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MP wants government to regulate operations at private schools

MP wants government to regulate operations at private schools

Stefanus Nashama A motion has been tabled in the National Assembly by lawmaker Hidipo Hamata, requesting the government to regulate operations at private schools and vocational training institutions. According to Hamata, unregulated private schools and vocational centres are a pressing concern that affects the foundation of the education system in Namibia. Hamata argues that unregulated private schools can be a disservice to the education system, hindering the growth and potential of both educators and learners. He highlights that some private schools do not provide fair wages to teachers and that some learners are being excluded from school due to unpaid…
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Security cluster to meet after 28 rhinos were poached this year

Security cluster to meet after 28 rhinos were poached this year

Stefanus Nashama The Ministry of Environment, Forestry and Tourism has recorded 28 cases of rhino poaching in Namibia this year so far. Out of these 28 cases, 19 rhinos were poached in the Etosha National Park, and 10 carcasses of the animals were discovered during dehorning operations in March. The Ministry's spokesperson, Romeo Muyunda, has expressed concern about the poaching situation in the Etosha National Park, which is a flagship tourist attraction in Namibia. The park has a high number of rhinos and other wildlife species. “An assessment is being carried out in the Etosha National Park to establish the…
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