Page 370 – News Stand

20 Jun

Robbed:

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Namibia Wildlife Resorts Chief Executive Officer Matthias Ngwangwama, was yesterday robbed while hiking in the Auasblick area in Windhoek.The robbers took his cellphone and vehicle.NWR's spokesperson, Nelson Ashipala confirmed this today."Fortunately, the vehicle has since been recovered in Katutura and he is currently in a stable condition. We are grateful that he was not physically harmed," said Ashipala.Ashipala called on the public and the media to respect Ngwangwama and his family privacy.Stating that further updates will be provided as more information becomes available.Report: Martin Endjala

20 Jun

Economic drivers:

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Vice-president Netumbo Nandi-Ndaitwah believes that in addition to the main economic sector namely; mining, fishing, tourism and agriculture.There is a need to include sport and creative industry as an engine of economic growth and social development.She said this at the 2024 TechNovation Social on Wednesday in Windhoek.She said the creative industry has the potential to create jobs in particular for the youth."Therefore, investing in these industries is not just about preserving our past, it is about building a brighter economic future for all Namibians," said the VP.Report: Martin Endjala.

19 Jun

Namibia’s Oil and Gas have potential to improve overall economy without adverse on other sectors

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Josef Keas Sheehama Although Namibia's oil and gas industry has the potential to boost the country's economy, careful management and diversification are essential to ensuring that this potential is realized without detrimental effects on other industries. Namibia, along with other African countries, is emerging as an attractive oil and gas opportunity due to legislative changes that make the market more appealing. Namibia's partnership with the world community and local enterprises reveals a desire for an industrialized future by utilizing its resources. Namibia's immense untapped resources and favourable investment climate are significant drivers of the sector's future economic growth. Namibia has…

19 Jun

Trustco loses appeal in financial compliance case

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Niël Terblanché The Supreme Court of Appeal of South Africa has dismissed an appeal by Trustco Group Holdings Limited. The ruling confirmed the Johannesburg Stock Exchange’s (JSE) authority to mandate the restatement of financial statements to ensure compliance with international standards. This decision marks a crucial step in upholding financial transparency and accountability in the South African financial markets. The appeal, brought by Trustco against the JSE and the Financial Services Tribunal, challenged the directive to restate its financial statements for the year ending March 2019. Trustco argued that the JSE lacked the authority to enforce such directives and questioned…

19 Jun

BoN holds repo rate steady amid economic uncertainty

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Niël Terblanché The Bank of Namibia (BoN) has decided to maintain the repo rate at 7.75 percent, following its bi-monthly Monetary Policy Committee (MPC) meeting on June 17-18. According to Johannes !Gawaxab, the Governor of the Bank of Namibia, this decision aims to support the domestic economy while preserving the peg between the Namibia Dollar and the South African Rand. "The committee's stance reflects a cautious approach to balancing economic growth with inflation control," !Gawaxab said while announcing the decision. He said that Namibia's economy demonstrated significant growth in the first four months of 2024, particularly in the mining, electricity…

19 Jun

Mixed reactions to voter registration process

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Hertta-Maria Amutenja The current voter registration process has elicited mixed reactions across various regions. While some areas report smooth operations, others are experiencing significant delays. Otjozondjupa governor, James Uerikua has noted the slow pace of the voter registration process. "We have noticed that the process is slow. However, registration is ongoing, and we are excited to see many youths come out to register. We are urging more young people to register as voters," said Uerikua. In Grootfontein, the municipality’s acting chief executive officer Indileni Lungameni also described the process as very slow, with long lines and technical glitches being common…

19 Jun

Theofelus wants openness and transparency in state institutions

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Erasmus Shalihaxwe Minister of Information and Communication Technology Emma Theofelus has urged government offices, ministries, regional councils, local authorities, and public enterprises to exhibit their services with openness and transparency when serving the public. The minister was speaking at the public sector information sharing session at Opuwo in the Kunene region on Wednesday. She said the session is an opportunity to showcase their initiatives, to engage directly with the community, and to listen to their needs and concerns. “I urge you to provide as much information as possible and to interact with the public with an open mind and a…

19 Jun

Ministry of Health confronts zoonotic threats

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Hertta-Maria Amutenja Dr Kalumbi Shangula, the Ministry of Health and Social Services launched the Tripartite One Health National Strategy for 2024 - 2028 on Wednesday as a response to the increasing threat of zoonotic diseases. Zoonotic diseases include rabies and food-borne illnesses. These illnesses, Shangula said, impact health, livelihoods, and economies. "The frequent outbreaks of zoonotic diseases and the effects of climate change in Namibia necessitate a coordinated One Health approach," he stated. The initiative is meant to address the interconnected health needs of humans, animals, and the environment. Shangula said Namibia has faced numerous public health challenges in recent…

19 Jun

Namibia and Zambia going ahead with a one-stop border post agreement

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Niël Terblanché Namibia and Zambia are currently in the advanced stages of negotiations to establish a one-stop border post (OSBP) at the Katima Mulilo border post. This initiative, aimed at enhancing trade and security between the two nations, has been in the works since April 2019 and is now on the brink of finalisation. Key stakeholders, including the Namibia Revenue Agency, are involved in the negotiations, which started on Tuesday and should conclude on Friday. The goal is to streamline border procedures, facilitate smoother cross-border trade, and bolster security measures between the neighbouring countries. The OSBP project is a critical…

19 Jun

Farm Versailles development committee dissolved

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Martin Endjala The Khomas Regional Council has dissolved the Community Development Committee (CDC) at Farm Versailles. The committee was elected in 2021 and was meant to serve until 2025. Farm Versailles is a resettlement farm near Dordabis. The Khomas chief regional officer, Clement Mafwilla, said the decision was taken because of the recurrence of long-running governance and leadership issues among the community. “A decision to dissolve the then committee and re-elect a new committee was made in consultation with the residents of Farm Versailles. Consequently, elections for a new committee were held on 08 June 2024,” he said. The new…