Observer Money – Page 115 – Windhoek Observer

12 May

Namibia secures N$1.8 billion German loans

ObserverObserver MoneyGerman Ambassador, Germany, Herbert Beck, Iipumbu Shiimi, Minister of Finance, Namibia

Kandjemuni Kamuiiri Namibia and Germany on Tuesday signed a N$ 1.8 billion loan agreement, which will fund three programmes in the areas of water, infrastructure and food production. Minister of Finance, Iipumbu Shiimi, and German Ambassador, Herbert Beck, signed the agreements on behalf of their respective countries. According to Shiimi, financing will be provided by interest-reduced loans in local currency, thereby securing favourable credit conditions for the Government of Namibia. “These projects will support the development of important water and other climate related infrastructure projects in Namibia, and the promotion of agricultural households and micro, small and medium-sized enterprises through…

12 May

Billionaire denied bail

ObserverObserver MoneyHarvey Boulter

Rose-Mary Haufiku Murder accused British billionaire, Harvey Boulter (51), has failed in his bail attempt on Tuesday at the Outjo Magistrates’ Court. Despite a spirited attempt, which also included supporting testimony from a Clinical psychologist, and from the family members of the deceased, Boulter was denied bail and remanded in custody at the Kamanjab Police cells. Boulter stands accused of allegedly shooting his employee (a manager at his farm) Gerhard van Wyk (54) in February after he attempted to seek sexual favours from van Wyk’s daughter in law. He is also facing additional charges of defeating/obstructing the course of justice,…

12 May

Jooste to defy Cabinet directive

ObserverObserver MoneyLeon Jooste, Namibia Industrial Development Agency (NIDA), Social Security Commission, State-Qwned Enterprises

Andrew Kathindi Public Enterprises (Pes) Minister, Leon Jooste, could defy a Cabinet directive less than a month after it came into force if he moves ahead to extend the current Fishcor temporary board’s term without any changes to its composition. The Cabinet directive states that Chief Executive Officers (CEOs) of State-Qwned Enterprises (SOEs) may not serve on the boards of other SOEs. This comes as Jooste confirmed to Windhoek Observer that he plans to extend the terms of the current Fishcor temporary board made up of two heads of SOEs, Heinrich Mihe Gaomab II, who was on 1 May appointed…

11 May

Namibia spends over N$1 billion on Covid-19

ObserverObserver MoneyBen Nangombe, Covid-19, Ministry of Health and Social Services (MOHSS)

Kandjemuni Kamuiiri Namibia has officially spent over N$1 billion up to date in its fight against Covid-19, Ministry of Health and Social Services (MoHSS) Executive Director, Ben Nangombe, revealed. According to information from MoHSS, N$747 million was spent last year on Covid-19, with N$458 million so far spent this year on vaccines. “We had a budget of N$747 million, that budget was executed for 2020. For now we have the resources provided in the budget of the Ministry of Health and Social Services but it’s not for Covid-19 in specific. It is for the response generally to health care. That…

11 May

Favouritism allegations rock NIDA CEO appointment

ObserverObserver MoneyChief Executive Officer (CEO), Heinrich Mihe Goamab ll, Michael Humavindu, Namibia Industrial Development Agency (NIDA)

Staff Writer It has emerged that Cabinet ignored recommendations from the Namibia Industrial Development Agency (NIDA) board in the appointment of the new Chief Executive Officer (CEO). According to insiders, the NIDA board, chaired by former Nedbank Managing Director, Lionel Mathews, had recommended Ministry of Industrialisation and Trade (MIT) Deputy Executive Director, Michael Humavindu, for the top job. The board’s decision is alleged to have been ignored by Public Enterprises Minister Leon Jooste, who is said, with the support of Cabinet to have pushed through for the appointment of former African Development Bank (AfDB) Executive Director, Heinrich Mihe Goamab ll,…

08 May

Genocide reparations case cost millions

ObserverObserver MoneyGenocide reparations case cost millions, Nama Traditional Leaders Association (NTLA), Ovaherero Traditional Authority (OTA), Vekuii Rukoro

Kandjemuni Kamuiiri Ovaherero Traditional Authority (OTA) has revealed that it and the Nama Traditional Leaders Association (NTLA) has forked out million in legal fees over that past 20 years in their legal fight to compel Germany to pay reparations for the genocide committed against the tribe from 1904-08. Ovaherero Traditional Authority (OTA) Paramount Chief, Vekuii Rukoro, in an interview with the Windhoek Observer, although tight lipped on the exact amount, said “the cost of taking the German government to court in New York and litigating that case all the way to the highest court in the United States is indeed…

07 May

Fifteen vie for ECN posts

ObserverObserver MoneyElectoral Commission of Namibia (ECN)

Kandjemuni Kamuiiri Parliament has shortlisted 15 candidates to be interviewed for three commissioner positions that are set to become vacant on the Electoral Commission of Namibia (ECN). Among those shortlisted and vying for the ECN posts, is 25-year-old Munolwisho Ipangelua, who if successful, will become the youngest commissioner to be appointed on the ECN board, with the oldest being 65-year-old pastor, Petrus van Zyl. The vacancies will arise due to the end of the terms of current Chairperson, Notemba Tjipueja, and Ulrich Freyer on the 15th of September. Both have served two terms and cannot be considered for reappointment due…

07 May

LPM High Court judgement questioned

ObserverObserver MoneyBernandus Swartbooi, Henny Seibeb, Landless People’s Movement’s (LPM), McHenry Venaani, Mike Kavekotora, MPs, Peter Katjavivi, Rally for Democracy and Progress (RDP), Speaker of Parliament

Andrew Kathindi The High Court’s decision to dismiss the Landless People’s Movement’s (LPM) application to set aside Speaker of Parliament, Peter Katjavivi’s indefinite suspension of Bernandus Swartbooi and Henny Seibeb could set a worrying precedent. These were the views of Rally for Democracy and Progress (RDP) President Mike Kavekotora, who sits on the Parliamentary Standing Committee on Standing Rules and Orders and Internal Arrangements (STROC). The STROC according to parliament’s spokesperson, David Nahogandja, generally deals with matters such as misconduct before it is brought before the Privileges Committee. Kavekotora claimed that Katjavivi lied when he said the matter was dealt…

06 May

Michael Iyambo’s woes mount

ObserverObserver MoneyAgribank, Michael Iyambo, Namibian Agronomic Board (NAB)

Kandjemuni Kamuiiri Former Chairperson of Agribank, Michael Iyambo’s continued stay as Chairperson of the Namibian Agronomic Board (NAB) remains uncertain amid indications of on-consultations being carried out by the appointing authorities over his role. Iyambo who was appointed to the NAB role in 2017, was forced out from his role as Chairperson of Agribank, amid accusations that he used his position to access personal funding from the Government-owned bank. Public Enterprises Minister, Leon Jooste, whose ministry is entrusted with ensuring governance compliance by State-owned entities, confirmed that his ministry was looking into the matter.“We will look into that after we’ve…

06 May

Air Namibia’s liquidator finalised … as creditors gun for N$895m

ObserverObserver MoneyAir Namibia, Bruni & Mclaren, Challenge Air, Namibia Airports Company (NAC), Paragon Investment Holdings

Andrew Kathindi Bruni & Mclaren were appointed final liquidator of Air Namibia at a meeting held at the Masters of the High Court on Wednesday morning. The serial liquidators were previously appointed on a provisional basis. This was the first meeting between Air Namibia and creditors after the airline’s liquidation was finalised last month by Acting High Court Judge, Kobus Miller, after the Namibia Airports Company (NAC), who are Air Namibia’s biggest creditor, had filed an application. The purpose of Wednesday’s meeting was to consider the statement of affairs (a legal document listing the assets and liabilities of the Airline…