Blog – Page 765 – News Stand

26 Oct

AgriBank stops cash payments

info_e12wt4csNational News, Observer MoneyAgriBank stops cash payments, Agricultural Bank of Namibia (AgriBank), Know Your Customer (KYC)

Obrein Simasiku The Agricultural Bank of Namibia (AgriBank) will no longer accept cash as a form of payment starting from December. This decision is to curb money laundering in the country, said the public relations officer of the bank, Fillemon Nangonya in a statement. ‘’This change is an effort by Agribank to further contribute to the combating of money laundering in the country.’’ Money laundering is regulated in terms of the Financial Intelligence Act, with specific reference to Know Your Customer (KYC) requirements. ‘’This requires stringent verification of the source of cash funds and reporting thereon,” Nangonya emphasised. The measure…

26 Oct

EU funds waste project worth N$36.8 million

info_e12wt4csNational NewsEU funds waste project worth N$36.8 million, Improving Solid Waste Management in Windhoek, Sade Gawanas

Staff Writer Mayor of City of Windhoek, Sade Gawanas and the Ambassador of the European Union (EU) Delegation to Namibia, Sinikka Antila signed an agreement for the construction of two waste buy back centres in Katutura, as part of EU-funded project to improve solid waste management in Windhoek under a project titled: “Improving Solid Waste Management in Windhoek” The “Improving Solid Waste Management in Windhoek” is a four-year project implemented within the framework of the Windhoek-Bremen Sister Cities Cooperation funded by the EU to the tune of N$36.8 million. The project is expected to recycle 2000 tons of waste, with…

25 Oct

Four billion additional budget tabled

info_e12wt4csNational NewsFour billion additional budget tabled, MTEF, operational expenses from N$56.6 billion to N$60.1 billion

Staff Writer The Minister of Finance has announced an additional expenditure of four billion dollars in the 2022/23 Mid-year Review Budget. Tabling the additional budget this afternoon, Iipumbu Shiimi said the additional allocations reflect pressing and urgent priorities which could not be deferred to the upcoming main budget. The additional expenditure takes the operational expenses from N$56.6 billion to N$60.1 billion. The development budget has also been adjusted upwards from N$5 billion to N$5.5 billion. The minister said that during the compilation of the review budget, ‘’additional expenditure requests to the tune of N$4 billion were received. At the same…

25 Oct

Fire prone Walvis only has 10 permanent firefighters

info_e12wt4csNational NewsFire prone Walvis only has 10 permanent firefighters, Jeremia Shikongo, Tutaleni Kathindi

Tujoromajo Kasuto The Walvis Bay Municipality, which has been grappling with the issue of shack fires for years, is currently only operating with 10 full-time employees at the fire department, despite residents’ complaints and frustrations about slow reaction and delivery. Tutaleni Kathindi, the town’s acting chief of fire services, says this is “normal practice” when people work with volunteers in the fire industry, but he also says the municipality employs permanent firefighters who are supported by volunteers. “We are 10 full time employees in the fire industry and so delays can there be,’’ he said and when quizzed on whether…

25 Oct

BPEEA calling for nationalisation of mineral resources

info_e12wt4csNational NewsBlack People Economic Emancipation Association, BPEEA calling for nationalisation of mineral resources

Staff WriterThe Black People Economic Emancipation Association is calling on the Namibian Stock Exchange (NSX), Bank of Namibia(BoN) Ministry of Mines and Energy and the Parliament to nationalise mineral resources in the country. Today, the BPEEA, led by Namibian Economic Freedom Fighters (NEFF) economic commissar and activist Michael Amushelelo, demonstrated in front of the NSX, BoN, Ministry of Mines, and Parliament. Amongst their demands the BPEEA demanded urgent action plans and programs which will lead to the transfer of wealth to the ownership and bring it under the control of historically disadvantaged people, the nationalisation of all foreign-owned banks operating…

24 Oct

Green Hydrogen investor wants concessions from Govt

info_e12wt4csNational NewsDr Job Amupanda, Green Hydrogen investor wants concessions from Govt, Hyphen and the Namibian, Welwitschia Sovereign Wealth Fund

Staff Writer The green hydrogen project negotiations between Hyphen and the Namibian government are stuck in negotiations with the developer wanting concessions from government. According to confidential information leaked by the Affirmative Repositioning activist, Dr Job Amupanda, Hyphen that has been touted to be coming with a 10 billion US dollar investment to develop the green hydrogen ambitions of Namibia is negotiating for some give-aways and changes to the country’s laws, including prospecting and mining rights. So far, what is known about the negotiations is that the newly created Welwitschia Sovereign Wealth Fund will take the role of strategic equity…

24 Oct

NAMDIA records N$144 million profit

info_e12wt4csNational NewsNAMDIA records N$144 million profit, Namibia Desert Diamond (NAMDIA, Profit after tax amounted to N$144.7 million

Obrein Simasiku Namibia Desert Diamond (NAMDIA) has bounced back from a mere profit of N$13.3 million attained in 2020/21 to a whopping ten-fold gain of N$144.7 million in 2021/22 financial after tax, and a total of N$218 million before profit. The exceptional financial returns follow poor performance as a result of Covid-19. The company paid N$150 million in dividends to government today, which is an increase from N$40 million in the 2020/21 financial year. “NAMDIA performed well during the 2021/2022 financial year. Profit after tax amounted to N$144.7 million, compared to N$13.3 million during the 2020/21 financial year, a period…

24 Oct

Shaningwa denies leaving CC meeting unceremoniously

info_e12wt4csNational NewsJerry Ekandjo, Shaningwa denies leaving CC meeting unceremoniously, Sophia Shaningwa

Martin Endjala The Swapo Secretary General, Sophia Shaningwa in an interview with the Windhoek Observer stated that she did not storm out of the Central Committee meeting last Friday, but left the meeting as was arranged prior with the chairperson of the CC, party president Hage Geingob. She explained to the Observer that she had to catch a flight at 13h00 for her campaign elsewhere, and therefore informed Geingob that she’ll have to be excused if the meeting takes longer than expected. The central committee meeting only had one agenda point, which was to discuss Jerry Ekandjo’s request to be…

24 Oct

Seibeb wants Alweendo, Kandjoze axed

info_e12wt4csNational News(EPL) for Karlowa Mining, Alweendo, Henny Seibeb, Seibeb wants Alweendo

Martin Endjala The Landless People’s Movement has called on President Hage Geingob to relieve the ministers of Mines and Energy, Tom Alweendo and Obeth Kandjoze, the Director General of the National Planning Commission. In a statement, the deputy leader of LPM Henny Seibeb said the two must be relieved of their duties to ‘’allow for a complete independent investigation and possible prosecution’’. Seibeb alleged that judging from the ministerial statement around a deal involving the payment of 50 million dollars, it would seem that Alweendo had information of ‘’corruption by his former advisor, but did nothing about it’’. Without giving…

24 Oct

2 men arrested for theft of 26 diamonds

info_e12wt4csNational News2 men arrested for theft of 26 diamonds, Farm Hopewell Stone Mine, NAMPOL

Tujoromajo Kasuto TWO Namibian men aged 32 and 42 have been arrested in Outjo after they were caught collecting stones on Saturday, 22 October at Farm Hopewell Stone Mine. The two suspects were found with 26 alleged precious stones, whose value is still to be determined. According to NamPol’s weekend crime report, a security guard that was on night shift spotted cell phone lights in the mining area and when he inspected, he realized that there were three men picking up stones. He then ran to wake up other colleagues in the room and came back and found the suspects…