Page 199 – Windhoek Observer

18 Jun

Namfisa puts medical aid accountability in members’ hands

National News

Niël Terblanché The Namibia Financial Institutions Supervisory Authority (Namfisa) has urged members of registered medical aid funds to actively participate in their upcoming annual general meetings (AGMs). The authority warned that low turnout could weaken good governance and threaten the long-term sustainability of the healthcare financing sector. Namfisa’s chief executive officer, Kenneth Matomola, described AGMs as essential for accountability, where members can directly shape how their contributions are managed. “Medical aid funds exist to serve their members. The AGM provides a vital platform for members to make their voices heard, scrutinise decisions and ensure the fund is being run in…

18 Jun

SADC PF mourns passing of Angolan legislator

Africa / World

Moses Magadza The Southern African Development Community Parliamentary Forum (SADC PF) has joined the National Assembly of Angola in mourning the passing of Diamantino Domingos Mussokola, an Angolan legislator and active member of the Forum. Mussokola died on Friday, 13 June 2025, in Luanda at the age of 54. In a statement issued in Luanda, the speaker of the National Assembly of Angola, Carolina Cerqueira, paid tribute to the late parliamentarian, hailing his legacy of humility, camaraderie, and wisdom. “As a Member of Parliament, Diamantino Domingos Mussokola leaves behind a legacy of humility, camaraderie, and wisdom that enriched political debates…

18 Jun

Commercial banks told to cut margins above repo rate

Observer Money

Justicia Shipena The Monetary Policy Committee (MPC) of the Bank of Namibia (BoN) is calling on commercial banks to align their lending margins with those of other countries in the Common Monetary Area (CMA). According to BoN governor Johannes !Gawaxab, Namibia is currently the only CMA country where the prime lending rate exceeds the repo rate by more than 3.50 percentage points. In Namibia, the margin remains at 3.75 percentage points. “This move will address this anomaly and, in time, provide relief to consumers,” said !Gawaxab. He further stated that banks will receive a specific timeframe to modify their operational…

18 Jun

NAMIT SME Fund disburses over N$800,000

Observer Money

Justicia Shipena The Mineworkers Union of Namibia's (MUN) NAMIT SME Fund has disbursed over N$800,000 to entrepreneurs across various regions since its establishment in 2024. The fund helps current and former union members start or grow their small businesses. So far, 54 applications have been received this year. The MUN said this signals a strong interest in the union’s push for inclusive economic empowerment. This development was shared during the Western Regional Roundtable held in the Erongo region on 18 June. The roundtable is part of MUN’s national series of forums to improve engagement between the union leadership and its…

18 Jun

Diamond sector faces setback from US tariffs

Observer Money

Hertta-Maria Amutenja Deputy Minister of Industrialisation and Trade, Gaudentia Kröhne, has warned that the imposition of a 21% United States tariff on Namibian mineral exports could stall trade momentum and threaten future economic opportunities under the African Growth and Opportunity Act (AGOA). Speaking during a ministerial roundtable on the promotion of natural diamonds in Luanda on Tuesday, Kröhne described the April 2025 executive order from the US as a major threat to Namibia’s diamond industry and broader trade prospects. “Namibia now faces a reciprocal 21% tariff on mineral exports, including diamonds, to the US, a significant market for Namibian goods.…

18 Jun

In a global economy, no country is too far from the shockwaves of war

Featured, Opinions

JOSEF KEFAS SHEEHAMA Geopolitical developments in the Middle East are expected to have a negative influence on market sentiment and the global economy if de-escalation efforts fail. Namibia is a part of the global village and trades with other countries; it is therefore not immune to economic catastrophe. The global economy has been negatively impacted by event such as COVID-19, the wars between Russia and Ukraine, Israel and Palestine, Israel and Hamas, the start of the global tariff war, and Israel and Iran. These wars threaten the global economy and have the potential to erode globalization and interdependence. Oil prices…

18 Jun

‘The era of free capital is over’ – report

Observer Money

Justicia Shipena The head of investment at Simonis Storm Securities, Max Rix, says the investment landscape has changed. According to Rix, the change is not a temporary adjustment but a structural regime shift. Interest rates will remain real. Rix said interest rates will remain real, capital will remain costly, and fiscal policy will stay constrained. “We see no room for complacency and even less for nostalgia,” he said. “The old anchors, free liquidity, suppressed volatility, and endless duration – are gone. What remains is the real task of investing: allocating capital prudently, understanding risk honestly, and protecting long-term value against…

18 Jun

Desert Jewels captain vows to win the UAE Cup

Featured, Sports

Erasmus Shalihaxwe National netball team captain Anna Kasper has promised fans they will win and bring the United Arab Emirates Netball Cup home. Kasper made the commitment on Tuesday after Namibia drew 49-49 against Singapore Vandas in their second match of the tournament. Namibia had won their opening game 69-48 against Kenya. Their third match is scheduled for today against Ireland, followed by their final group match against the United States of America on Saturday. Speaking after the draw with Singapore, Kasper said the team didn’t expect such a strong performance from their opponents but took valuable lessons from the…

17 Jun

City concludes forensic audit

Main

Hertta-Maria Amutenja The City of Windhoek has confirmed that four forensic and audit investigations into alleged irregularities have been completed. However, the reports remain under internal legal and administrative review and are not yet available to the public. This confirmation follows questions sent by the Windhoek Observer last month and a letter dated 19 May from social justice activist Shaun Evert Gariseb. The letter, addressed to the minister of urban and rural development, James Sankwasa, asked for intervention in long-standing service delivery and governance issues affecting residents. “The investigation has been concluded, and the resulting reports were submitted to the…

17 Jun

Youth projects stalled as ministry cites budget gaps

National News

Hertta-Maria Amutenja Youth enterprise development projects under the Ministry of Education, Arts and Culture remain stalled in most parts of the country, more than two years after their launch. The programme was introduced to help young people start businesses in all 121 constituencies. Over N$9 million was allocated to the initiative. Of that amount, N$1 million was set aside for training, while N$8 million was meant to be issued as soft loans through the Development Bank of Namibia. A recent parliamentary report has highlighted delays and a lack of proper support. The Ministry confirmed that only 28 constituency-based enterprises have…