Observer Money – Page 231

06 May

Conservation sustainability gets N$16 million boost

info_e12wt4csObserver 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

info_e12wt4csObserver 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

info_e12wt4csObserver 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…

29 Apr

Air Namibia to reassess COVID-19 impact

info_e12wt4csObserver MoneyAir Namibia, Covid-19

Andrew Kathindi Air Namibia Acting MD Elia Erastus said the airline will review the full impact of COVID-19 on its operations after 36 months even though they’ve managed to fully retain staff and pay salaries during the lockdown. Erastus revealed that Air Namibia has had zero revenue generation in the last month. He was hopeful the relaxation of lockdown regulations would allow the airline to focus on internal flights and generate some revenue. Erastus said the national airline will focus on regional flights to curb competition. He points out that the negative ripple effect of COVID-19 on airline operations is…

29 Apr

China debt relief not on the table-Shiimi

info_e12wt4csObserver MoneyChina, Covid-19, Finance Minister Iipumbu Shiimi

Staff Writer Finance Minister Iipumbu Shiimi says government has not considered appealing for debt relief from China, in light of the increased financial burden that the emergence of COVID-19 has had on government coffers. This comes as government has continued to dig deep to fund various grants to assist those that have been hardest-hit by the effect of COVID 19 such as businesses and workers in tourism, construction and other service sectors. “It is not something that we have looked at and we don’t have a government position on that,” the finance minister said. Of the N$93 billion that government…

27 Apr

N$600m lost in the arts sector

info_e12wt4csObserver MoneyCovid-19, National Arts Council of Namibia (NACN)

Andrew Kathindi The chairman of the National Arts Council of Namibia (NACN), Patrick Sam says around N$600 million in potential revenue has been lost in the Namibian arts and entertainment sector due to the COVID-19. He attributes this to a number of shows, events, arts sector based public gatherings that have been cancelled or postponed as well as advertising firms’ projects called off due to the lockdown. “We currently have 143 individual members and 22 organizations registered. There are no statistics available to gather the data of the wide-reaching impact of the pandemic because the sector has not been prioritized…

23 Apr

Utoni clueless on COVID-19 labour impacts

info_e12wt4csObserver MoneyCovid-19

Andrew Kathindi Minister of Labour, Industrial Relations and Employment Creation, Utoni Nujoma is clueless on the number of jobs that have been lost during the period of the COVID-19 pandemic. “I’m not in a position to give figures on lost jobs. You will have to get those details from the regions,” said the minister, whose ministry is key towards providing guidance to employers and employees affected by the coronavirus outbreak. Despite admitting that the labour market was in turmoil even before the COVID-19 outbreak, the minister failed to provide estimated job loses post-outbreak and what measures were being implemented to…

23 Apr

Tourism industry dying while waiting for bailout

info_e12wt4csObserver MoneyFederation of Namibian Tourism Associations (FENATA), lockdown, Ministry of Finance, tourism

…30,000 jobs can be lost if government money does not arrive on time Staff Writer The government is yet to avail the N$400 million promised to the country’s tourism sector as a subsidy. It has been three weeks since the Finance minister Iipumbu Shiimi, made an announcement pledging the multi-million dollar bailout for the hospitality, travel and tourism sector. The funds, according to Shiimi were aimed at providing a subsidy to players in the hard-hit tourism sector. This financial support would allow them to retain jobs with the industry. Tourism has been brought to a grinding halt as a result…

23 Apr

SSC plans N$3,000 payout

info_e12wt4csObserver MoneyCovid-19, Social Security Commission (SSC)

Andrew Kathindi The Social Security Commission (SSC) is set to pay N$1,000 per month for three months to employees from sectors hard-hit by the impact of the coronavirus. SSC Executive Officer Milka Mungunda said sectors to be covered by the grant to be administered by the fund include construction, farming, transport, manufacturing, retail, domestic workers and entertainment among others. “Vulnerable employees in the formal sector who are paid up SSC members will also receive a grant of N$1,000 a month during this period provided that they do not earn more than N$50,000 per annum,” said Mungunda said. Assuming all legal…

22 Apr

Cattle misfortune for Esau

info_e12wt4csObserver MoneyAgribank, Bernhardt Esau

Staff Writer Former Fisheries minister, Bernhardt Esau who is currently incarcerated over his involvement in the Fishrot scandal, has had 50 head of cattle which were being kept on his behalf at Farm Sorondo in the Omaheke region, stolen. According to sources, Esau entered into an agreement with former Agricultural Bank of Namibia (Agribank) Credit Manager, Masilo Hochobeb to keep 300 head of cattle at his farm. “I have not been at the farm in four weeks, I will have to check with the workers,” said Hochobeb when contacted for comment. When quizzed over the agreement he entered into with…