Main – Page 60 – News Stand

02 May

Recon Namibia to hear fate this month…as local organisation claims violation of rights

info_e12wt4csMainRecon Namibia to hear fate this month…as local organisation claims violation of rights

Hertta-Maria Amutenja Recon Energy Namibia will learn the outcome of its Environmental Clearance Certificate application later this month, the Minister of Environment, Forestry, and Tourism Pohamba Shifeta reserved judgment following the hearing of arguments both in support of and against the Environmental Commissioner’s decision to revise an Environmental Clearance Certificate (ECC).The Kavango East and West Regional Conservancy and Community Forest Association, Katope Community Forest Management Committee, Muduva Nyangana Communal Conservancy Management Committee, and Ncumcara Community Forest Management Committee filed an appeal last year, challenging Recon’s clearance certificate.Additionally, the decision of the Environmental Commissioner to grant the certificate to the Canadian…

28 Apr

Revenue from the extractive industry must benefit all

info_e12wt4csMainRevenue from the extractiveindustry must benefit all

Niël Terblanché Namibia like many other African countries has to improve Domestic Resource Mobilisation (DRM) and take charge of own development agendas with funds garnered from improved fiscal policies and robust taxation systems.Delegates from across the continent gathered in Swakopmund to attend the African Tax Administration Forum (ATAF) Workshop on Value Added Tax (VAT) Administration and Compliance in the Extractive IndustryThe Namibia Revenue Agency (NamRA) is hosting the two-day event which is aimed at providing insights and updates on the best practices in VAT administration and compliance.At the official opening of the workshop, Mary Baine, the Deputy Executive Secretary and…

27 Apr

Small steps are needed to reach a giant goal

info_e12wt4csMainSmall steps are needed to reach a giant goal

Niël Terblanché If Namibia wants to grow its economy the country should realise that the demand for affordable, available, and access to energy will increase accordingly. Tom Alweendo, Namibia’s Minister of Mines and Energy, upon welcoming participants in the fifth edition of the Namibia International Energy Conference on Wednesday and said the availability and access to energy sources are not evenly distributed, leading to geopolitical tensions among nations. “It is essential therefore to handle the country’s energy issue with caution and care to prevent conflicts and ensure sustainable development. The current geopolitical tensions are a clear indication of the importance…

26 Apr

Retirement is crucial for the economy

info_e12wt4csMainRetirement is crucial for the economy

Martin Endjala Occupational retirement is seen as a crucial element in the economy of Namibia because it enables people who retire after reaching the age of 60 not to falter financially but to continue to sustain themselves. Based on information sourced from the Namibia Financial Institution Supervisory Authority, as of the third quarter of 2022, the number of Namibian retirement fund members stood at 238 603. Of these, 94 291 were members of the Government Institutions Pension Fund. “This number is higher than expected considering our high unemployment rate, large informal sector, and the fact that occupational pension schemes are…

25 Apr

Leaked report exposes high-level fraud attempt

info_e12wt4csMaine Communications Regulatory Authority of Namibia’s (CRAN), Leaked report exposes high-level fraud attempt

Niël Terblanché The ghost of the so-called smart city deal between the City of Windhoek and Huawei Communications has come back to haunt the parties involved with serious allegations of fraud, attempted fraud and corruption involving millions of dollars at the highest levels. The leaked document, marked “Extremely Confidential” and dated 27 January 2021 deals with what appears to be a concerted effort by numerous parties to defraud not only the residents of Windhoek but the City of Windhoek itself. The report raises the concern of possible high-level fraud and corruption. The saga started in 2020 when Paratus Telecom protested…

24 Apr

Namibia NOT in China’s Pocket

info_e12wt4csMainNamibia NOT in China’s Pocket

Niël Terblanché Reports and statements wanting to create a picture of Namibia being sold out to China by accepting too many loans are factually incorrect and deceptive. Despite Namibia finding itself in a situation where public debt has reached levels, only a small percentage of the total debt is owed to China. The country has never owed more than three percent of the total debt to China and the last loan of any significance from that country was given in 2017. According to the World Economic Forum, Namibia is at the bottom of a list of 20 countries where foreign-funded…

21 Apr

We have not sold the family silver-Sven Thieme

info_e12wt4csMain

Chamwe Kaira Businessman and chairman of the O&L Group, Sven Thieme has said the much published N$1 billion dividend received from shares in Namibia Breweries Limited will be used in a responsible manner.Namibia Breweries Limited last week made a dividend payout N$26,35 per share dividend to its shareholders.He was responding to a question by the Windhoek Observer if he had become a billionaire or the richest Namibian perhaps.“I deem this to be private information, however, O&L receives the dividend. What is important now is how we will apply the money in a responsible manner.”On how the dividend will be used,…

20 Apr

Namibia’s dependence on imported goods increases inflation rates…as BoN hikes repo rate to 7.25 percent

info_e12wt4csMainNamibia’s dependence on importedgoods increases inflation rates

Martin Endjala Namibia’s reliance on imported goods is cited as one of the main contributing factors to the country’s high inflation rate, and its citizens feeling the impact of increasing inflation rates globally. This concern was raised by the Bank of Namibia Governor Johannes !Gawaxab yesterday in Windhoek, during the announcement of the repo rate increase by 25 basis points to 7.25 percent, with immediate effect. This is the second time this year that the repo rate has been hiked by the central bank’s Monetary Policy Committee, following a comprehensive review of the global, regional and domestic economic development. The…

19 Apr

Race for CoW CEO position enters final stages

info_e12wt4csMainRace for CoW CEO position enters final stages

Niël Terblanché The protracted process of finding a new Chief Executive Officer for the City of Windhoek is nearing the end after Conrad Lutombi, the current CEO of the Roads Authority, declined the position. Moses Matyayi who serves as the current Chief Executive Officer of the Otjiwarongo Municipality was the other top candidate for the position at the CoW. The top two candidates were shortlisted for the position alongside Deputy Executive Director at the Ministry of Works and Transport, Joyce Mukubi, Chief Business Unit Executive at NamWater, Eino Mvula, and Researcher Charmill Zamuee. The candidates publicly presented their proposals for…

18 Apr

A storm erupts around Lionel Matthews

info_e12wt4csMainA storm erupts around Lionel Matthews

Niël Terblanché The appointment of Lionel Matthews as the interim Managing Director of the National Petroleum Corporation of Namibia took a dramatic turn after the board of directors last week announced that Shiwana Ndeunyema will act in that capacity until negotiations with the candidate are completed. In the meantime, Matthews has been linked to alleged nefarious dealings with regard to a Namcor tender to construct oil storage facilities in Walvis Bay worth N$1 billion, amongst others. However, Fullbright Investments, an infrastructure development firm came out strongly against the allegations. Fullbright appointed Monasa Advisory and Associates as its transaction advisor when…