Observer Money – Page 171 – Windhoek Observer

09 May

Govt weighs MTC listing plans

ObserverObserver MoneyCovid-19, Government, Mobile Telecommunications Limited, MTC, Namibian Stock Exchange, NSX

Staff Writer Government could be forced to review the set timelines and defer the listing of Mobile Telecommunications Limited (MTC) due to COVID-19 outbreak, for what was to be the country’s biggest listing of a Namibian company on the Namibian Stock Exchange (NSX). According to the initially announced timelines, MTC was expected to be listed on the bourse by July 2020, after having submitted its listing application to the Namibian Stock Exchange (NSX) by February 2020, with the opening date for its public offer having been set for March 2020 and closing in June 2020. “We are discussing the matter…

08 May

Govt measures won’t save economy -NEF

ObserverObserver MoneyDaan Strauss, Namibia Employers’ Federation (NEF)

Andrew Kathindi The Namibia Employers’ Federation (NEF) says the relief package announced by Social Security Commission (SSC) and the N$8.1 billion Ministry of Finance stimulus package are not enough to rescue the economy and businesses negatively affected by the outbreak of COVID-19 and the lockdown. This comes as the tourism sector, which was meant to benefit from government funding promised by the Ministry of Finance, is yet to receive its allocated N$400 million subsidy. “I think the relief packages announced by Finance and SSC were targeted where the most urgent needs are, and that was for the poorest of the…

08 May

N$220m informal settlements windfall

ObserverObserver MoneyGerman, Government, National Planning Commission, Shack Dwellers Federation of Namibia

Staff Writer The German government will contribute over N$220 million towards addressing the country’s informal settlement problem. The funding will be provided under a wider N$700 million grant aimed at improving the living conditions in the country’s sprawling informal settlements. It will also seek to improve access to land title for the residents. “To address the urgent need for action in the informal urban settlements, Germany also committed N$100 million for technical cooperation for sustainable and inclusive urban development as well as N$120 million for financial cooperation (grants) for the promotion of urban infrastructure. These projects are aimed at supporting…

07 May

Ministry cuts funding to private schools

ObserverObserver MoneyMinistry of Education, private schools, Sanet Steenkamp

Andrew Kathindi The Ministry of Education has discontinued funding private schools after discovering it was not uniformly done. Education ministry executive director Sanet Steenkamp said the ministry put a stop to funding after discovering that certain conditions for funding, such as providing scholarships for 10 percent of its enrollment to vulnerable children, was not being met. Some private schools were also heavily reliant on the subsidy and could not prove that they were self-reliant. N$87 million per annum was dispersed to private schools in the past. Steenkamp said that while the economic downturn of the last three years has also…

07 May

Nampol welcomes alcohol ban

ObserverObserver Moneyalcohol, Deputy-Commissioner, Kauna Shikwambi, NAMPOL, NAMPOL Spokesperson

Staff Writer The Namibian Police Force (NAMPOL) has welcomed the newly amended government regulations which have imposed a total ban on the sale of alcoholic beverages during the on-going lockdown, reversing earlier regulations which had allowed alcohol with a content below 3 percent to be sold. Under the new gazetted regulations, liquor is now defined as any spirits, wine, beer, cider or other beverage containing alcohol intended for human consumption, excluding alcohol intended to be used for medicinal purposes. “The amended regulations make it easier for us to enforce the lockdown and we are glad the leaders heeded to our…

07 May

We were ill-prepared – Steenkamp

ObserverObserver MoneyArts and Culture Executive Director, Covid-19, Ministry of Education, Sanet Steenkamp

Andrew Kathindi The Ministry of Education has admitted that it was ill prepared to implement the online education demands brought about by the coronavirus outbreak. This comes as student learning was brought to a grinding halt countrywide due to the government’s decision to close schools to combat the spread of the COVID-19 virus. The ministry has been battling to restart classes through e-learning. “I must admit, we were so caught on addressing text book needs, but COVID-19 gave us the opportunity to modernize and to find alternative teaching and learning modalities. We are entering into deep discussions with the Commonwealth…

06 May

Tourism sector forecasts N$20 billion loss

ObserverObserver MoneyCovid-19, Forestry and Tourism Pohamba Shifeta, Minister of Environment, tourism

. . . as government continues to delay N$400m subsidy Andrew Kathindi Minister of Environment, Forestry and Tourism Pohamba Shifeta has said that the tourism sector could lose at least N$20 billion in anticipated revenues and fixed assets by the end of 2020 due to the global lockdown caused by the COVID-19 pandemic. Namibia has received no inbound tourists since international borders of all countries were virtually closed to combat the spread of COVID-19. The Minister has told the Windhoek Observer that he believes that it is most likely that the tourism sector in Namibia will pick up only after…

06 May

Conservation sustainability gets N$16 million boost

ObserverObserver MoneyCovid-19

Andrew Kathindi A total of N$16 million has been raised for the Conservation Relief, Recovery and Resilient Facility which aims to address the long-term impacts associated with COVID-19 on the sustainability of the Community Based Natural Resource Management (CBNRM) Program in Namibia. Of this amount, the Namibia Association for CBNRM Support Organisations (NACSO), the World Wildlife Fund (WWF) will receive N$7.5 million. The United Nations Development Program (UNDP) pledged an amount of N$1.5 million, while Nedbank Namibia has pledged an amount of N$1 million to the project. This amount is about a quarter of the conservancy income from tourism operations…

04 May

Informal sector sidelined

ObserverObserver MoneyCity of Windhoek, lockdown, Namibia Informal Sector Organisation

Andrew Kathindi Informal sector traders have accused government and the City of Windhoek of sidelining them when it came to polices regarding their operations during and post-lockdown. According to Namibia Informal Sector Organisation’s Secretary General, Veripi Kandenge, the 7,000-member strong organization was never consulted by government and the city council regarding its members’ concerns and operating conditions. “We have not been consulted about the way forward regarding the opening of markets despite certain informal markets set to reopen by Monday,” he said, “We call on policy-makers to include the informal sector representatives when developing policies concerning them. Our sector provides…

04 May

Founding father donates to COVID-19

ObserverObserver MoneyCovid-19, Founding President Sam Nujoma

Staff Writer Founding President Sam Nujoma handed over a donation of basic necessities and food parcels valued at a total of N$40,500 to the Office of the Prime Minister to be used in the fight against the COVID-19 pandemic. “Indeed, following the declared state of emergency by the Head of State and the subsequent lockdown of the whole country on account of the COVID-19 pandemic and now the gradual ease on the lockdown, we are aware that our government has established a multi-sectoral national coordination mechanism. The government has asked all stakeholders such as private health sector, the business community…