National News – Page 276

29 Feb

Capricorn Group reports a profit of N$827 million

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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…

29 Feb

Disaster management and food security strengthened with new MoU

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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…

29 Feb

Tax relief injects N$646m into taxpayers’ pockets

info_e12wt4csNational NewsTax relief injects N$646m into taxpayers’ pockets

Martin Endjala Minister of Finance and Public Enterprises, Iipumbu Shiimi has announced that government will inject N$646 million directly into taxpayers’ pockets. This means all individual taxpayers will be exempted from paying tax on the first N$100 000 per annum, of their first income as of 1 March 2024. This follows the tabling of the National Budget for the 2024/25 Financial Year in the National Assembly yesterday. The budget for the year under review stands at N$100.1 billion, which is a 12 percent increase from the previous year, under the theme Continuing the Legacy of late President Hage Geingob by…

29 Feb

Old-age grant boosted with N$200

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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…

29 Feb

MUN takes a stand against diamond company for discriminatory labour practices

info_e12wt4csNational NewsMUN takes a stand against diamond company for discriminatory labour practices

Niël Terblanché The Mineworkers Union of Namibia (MUN) has issued its strong condemnation against the practices of Duiker Investments and Almond Diamonds Namibia, a Windhoek-based diamond cutting and polishing firm, for their recent actions involving the retrenchment of 27 employees According to the MUN, the retrenched workers are all members of the union. In a statement, the union said that it has also identified a myriad of other unethical and unfair labour practices at the company. The MUN stated that workers have also registered grievances against the company such as the payment of low wages, employing expatriates without local understudies,…

29 Feb

We want to teach the government a lesson for failing us – Goreangab community

info_e12wt4csNational NewsWe want to teach the government a lesson for failing us - Goreangab community

Stefanus Nashama Residents of the Goreangab Informal Settlement on the outskirts of Windhoek have expressed concern over the Swapo-led government’s failure to meet the demands of the community. Expressing disappointment with the government yesterday, the residents informed the Windhoek Observer that they do not see any reason to waste their votes on the ruling party in the upcoming Presidential and National Assembly elections. The community’s frustration stems from the government’s failure to listen to their demands. Part of the demands of the residents are the establishment of electricity and water supply as well as the installation of sanitation services. The…

29 Feb

Mbumba meets presidency staff and calls for unity and commitment

info_e12wt4csNational NewsMbumba meets presidency staff and calls for unity and commitment

Stefanus Nashama President Nangolo Mbumba stressed continuity, unity and commitment from staff members of the Office of the President during a meeting with them in his new capacity as Head of State. Mbumba, who was one of the political figures and top government officials close to the late President Hage Geingob, said the nation is expecting a lot from staff members of the Presidency. He called for the prioritization of better service delivery to the Namibian nation.At the same time, he urged the staff members to rise to the challenge, adding that they should echo the principles established during Geingob’s…

28 Feb

Mbumba applauds the unity and spirit of Namibians

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Niël Terblanché President Nangolo Mbumba, in a heartfelt address to the nation, expressed profound gratitude towards the people of Namibia for their dignified and orderly conduct in the wake of President Hage Geingob's passing. He said that throughout the three weeks of national mourning, Namibians across the country came together in an outstanding display of unity, resilience, and grace while paying tribute to Geingob's enduring legacy. Mbumba commended the nation for its collective spirit during this period of profound loss, highlighting how Namibians "held hands in mourning and honour of Geingob's legacy in the most befitting manner." The President remarked…

28 Feb

Namibia hosts crucial transport and logistics conference to bolster regional development

info_e12wt4csNational NewsNamibia hosts crucial transport and logistics conference to bolster regional development

Niël Terblanché Namibia further solidified its pivotal role in the development regional transport and logistics sector by, for the first time, hosting the Port Management Association of Eastern and Southern Africa (PMAESA) Annual General Meeting (AGM) and Intermodal Africa Conference and Exhibition in Swakopmund. John Mutorwa, the Minister of Transport and Deputy Prime Minister of Namibia, officiated the official opening of the intermodal conference where he stressed the Namibian government’s commitment to enhancing infrastructure development and maintenance through the continued creation of sectoral policy, regulation, and applicable laws. “Logistics and transportation management are essential for international trade, and it is…

28 Feb

Egypt pledges support to Namibia in wake of President Geingob’s death

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Niël Terblanché Egypt, in a selfless gesture of solidarity, has extended its support to Namibia following the death of President Hage Geingob. Mohamed Hegazy, the Special Envoy of President Abdel Fattah El-Sisi, met with President Nangolo Mbumba, at the State House to convey Egypt's condolences and to offer assistance. During the meeting, Hegazy expressed Egypt's readiness to support Namibia as it navigates the aftermath of President Geingob's passing. The special envoy highlighted the strong historical ties between the two countries, stressing the successes of past project cooperation and the shared grief over the loss of a prominent African leader. President…