Page 1282 – Windhoek Observer

31 Jul

Nghipondoka draws the line ahead of announcement

Observer MoneyArts and Culture, Ministry of Education

…as teachers unions meet Andrew Kathindi The Ministry of Education, Arts and Culture has maintained its announcement on the final stage of the resumption of face to face teaching on Friday will not be swayed by teachers unions. This comes as the ministry and unions have found themselves on opposing ends on various occasions when it comes to class resumptions, with the Namibia National Teachers Union (NANTU) and other unions held up in consultations Thursday, amid indications that they want to call for the suspension of all face-to-face teaching. The final phase of face-to-face teaching includes the grade 8 to…

29 Jul

Dancing with the devil

National NewsIMF, International Monetary Fund, Namibia

…Namibia seeks IMF loan And so it begins. The descent of Namibia into the ranks of so many other nations that have mismanaged their affairs, made honest mistakes, been captured by corruption, and suffered unavoidable bad luck has happened. The International Monetary Fund (IMF) is happy to race to the rescue. They have thrown Namibia a radioactive life preserver. The country must decide to either drown or grab the thing. Those are the usual choices when you are forced to dance with the devil. Make no mistake; the IMF is a powerful and effective instrument of western capitalist imperialism. They…

29 Jul

COVID-19 claims another victim

Observer MoneyHealth Minister Shangula Kalumbi, Windhoek

…as virus unleashes on Windhoek Andrew Kathindi COVID-19 has claimed another victim as the death toll rises. This brings the death toll to nine in the country as the virus continues to spiral upwards. There are concerns about government’s ability to clamp down on the trend. “I am reporting a COVID-19 related death from Walvis Bay. A 44 year-old female presented to Walvis Bay State Hospital on 21st July 2020 with symptoms consistent with COVID-19. She had other chronic medical conditions. She was tested while on admission and the results came out positive. Her condition gradually deteriorated and we lost…

29 Jul

Govt’s loan repayment dilemma

Observer MoneyCirrus Securities Economist, Eurobond, IMF, Robert McGregor

Staff Writer Namibia’s plan to borrow from the International Monetary Fund (IMF) to help finance its N$21.4 billion deficit could create a repayment predicament if the N$4.5 billion loan is granted. This comes as it emerged that the majority of government debt maturities lie in the next few years, with the first Eurobond maturing in late 2021. “The timeline for repayment is the only real area of any concern, being in 3¼ to 5 years – right between Namibia’s two Eurobond maturities and with a public debt profile where the majority of maturities lie in the next few years. Overall,…

29 Jul

Govt must be proactive instead of reactive

National NewsGovernment, Twaloloka, Walvis Bay

Does it take fire and the death of yet another baby in a shack to get things moving? In the midst of the fiery cataclysm on Sunday night in Twaloloka at pandemic slammed Walvis Bay, one can only say, “when it rains, it pours.” It reiterates the problem that tin shack suburbs are social, political and actual powder kegs. In dealing with such situations, the government seems to be constantly on the back foot; being reactive instead of proactive. It is a curious coincidence that the fire area, Twaloloka, was in the midst of planned ‘thinning out’ action by local…

29 Jul

Community transmission cases emerge

Observer MoneyMinister of Health Kalumbi Shangula, Windhoek

… as cases force organications to close Andrew Kathindi The Minister of Health Kalumbi Shangula has warned that community cases without known contacts or travel history have started popping up around the country. “This means that people are becoming infected in their localities, during their everyday activities,” he said. Shangula said behavioral change was the only solution that can allow the spread of the virus to be contained in community transmission cases. “It is time for all Namibians to change our behaviors and do everything we can to reduce our risk. We have seen in Walvis Bay how serious the…

29 Jul

CRAN upholds decision on CoW licence

Observer MoneyCRAN, MTC, Paratus, Windhoek

Staff Writer The Communications Regulatory Authority of Namibia (CRAN) on Tuesday upheld its decision to award a Class Comprehensive Telecommunications Service Licence to the City of Windhoek. The telecommunication sector regulator has, however, imposed additional licence conditions to the CoW licence to address stakeholder concerns around fair competition and infrastructure sharing. This comes after Paratus and MTC among other telecommunication companies had objected to the award, resulting in them appealing the regulators decision. “After careful consideration of the various and valid observations and comments raised by stakeholders, CRAN upholds its decision of 29 April 2020, and awards the Municipal Council…

28 Jul

Rössing records N$503 million profit

UncategorisedJohan Coetzee, Managing Director, Rössing Uranium Limited

Staff Writer CNNC Rössing Uranium recorded a N$503 million net profit for period January 2019 to December 2019, an increase from N$166 million recorded in 2018, the company’s latest Report to Stakeholders shows. This comes as the uranium miner’s revenue was in line with those of prior year at N$2.82 billion during the period under review. “Lower sales volumes were largely offset by a more favorable exchange rate. However, a 15 percent reduction in operating costs had a positive impact on profits before tax. The reduced costs largely contributed to an improved net profit after tax from normal operations of…

28 Jul

Coping with financial anxiety during COVID-19

UncategorisedAlna Booysen, Head of FNB Premium

Staff Writer The pandemic has led to many people struggling with financial anxiety and high stress levels due to mounting expenses, reduced household income and job uncertainty. “Finances can evoke a strong emotional response, which may impact your self-esteem, sleeping patterns, productivity and overall mental wellbeing. It can also impact partner and family relationships, so it’s important to manage financial anxiety and get appropriate support” says Alna Booysen, Head of FNB Premium. Here are ways to help you deal with financial anxiety: 1. Set aside time to reflect on your financial situation and find possible solutions. 2. Remember that your…

27 Jul

Differing perspectives within a party are a must

National NewsNamibia, Swapo Party

The Founding President declared during this weekend’s Swapo introspection meeting that he didn’t want to hear about Team Swapo and Team Harambee anymore. He feels it has become divisive. He is right. There is only one ruling Swapo party. But, that doesn't mean there should be only one Swapo idea or thought pattern. New ideas that reflect the Swapo of tomorrow can only take root if people with different points of view, openly advocate for their ideas. The final goal should be agreed by the majority with opposing points inculcated where practicable. The need to walk lock-step on all things…