Observer Money

Allexer Namundjembo The finance and public enterprises minister, Iipumbu Shiimi, has provided much-needed relief to businesses and individuals struggling to recover from recent economic challenges by announcing a two-year extension to the national tax amnesty programme. Shiimi made this announcement yesterday while presenting the mid-year budget in parliament. The minister recognised that many businesses were affected by the COVID-19 pandemic, with some businesses shut down, impacting their ability to pay their tax. “I thus postpone the deadline for two more years, and we will not extend the deadline further,” he said. Shiimi also highlighted the government’s commitment to tax policy…

Stefanus Nashama Letshego Holdings Namibia has called for collective responsibility in tackling cybersecurity threats within the financial sector. The bank also urged its clients, both in the public, private, and financial sectors, to remain vigilant. Morgan Beukes, IT risk and information security manager at Letshego Bank Namibia, announced on Wednesday. “The digital landscape presents both endless opportunities and growing threats to the financial sector as cybercriminals become increasingly sophisticated. With cybersecurity awareness month ending this October, Letshego Holdings Namibia urges customers, as well as employees across government, private, and financial sectors, to remain vigilant,” he said. He highlighted the need…

Graham Hopwood Civil society organisations (CSOs) believe the national budget is a powerful tool that can be used more effectively to address systemic poverty, improve living conditions, and promote social equity in Namibia. The Institute for Public Policy Research (IPPR) today released a new briefing paper, entitled Civil Society & The Budget: Perspectives on Priorities. The paper is being published ahead of the 2024-25 Mid-Year Budget Review to be tabled in the National Assembly by the Minister of Finance and Public Enterprises on 28 October 2024. The paper summarises civil society submissions and suggestions regarding budget priorities which have been…

Erasmus Shalihaxwe The Bank of Namibia (BoN) is set to provide credit-related drought relief policy measures to assist farmers and agricultural business owners who are experiencing financial difficulties as a result of drought. The bank’s director of strategic communications and international relations, Kazembire Zemburuka, announced the new measure on Monday. He explained that the decision was taken because the banking institutions are required to implement relief measures, including the restructuring of loans, granting of loan moratoriums, and emergency funding under preferential terms. According to Zemburuka, this will ease the financial burden on affected clients while helping to stabilise the agricultural…

Erasmus Shalihaxwe The City of Windhoek (CoW) is planning to build a waste-to-energy plant to generate bulk electricity and improve waste management. The municipality explained this in a statement issued over the weekend where it said that the initiative aims to diversify energy supply, enhance the security of electricity provision, and reduce carbon emissions. “The proposed facility is expected to process 250 tons of waste per day, equivalent to 8.5 MW of electricity and 17.5 MW of heat, with the possibility to increase capacity to 400 tons per day by incorporating waste from neighbouring urban centres,” reads the statement. According…

Allexer Namundjembo The anticipated launch of Air Botswana’s new flights to Windhoek and Durban, originally set for October 1, will not happen anytime soon as the airline is reported to yet to apply for operational permits in South Africa and Namibia. Media in Botswana reported last week that Air Botswana also lacks both the crew and aircraft needed to service these routes, with the newly acquired E175 aircraft still grounded. According to the Tuesday Grill newspaper, a source explained that the ERJ145 aircraft, planned for Namibia operations, will be registered with Namibian authorities and operated by FlyNamibia. Furthermore, FlyNamibia’s crew…