Page 469 – News Stand

29 Feb

Questions surround minimal funds allocated for combat corruption

info_e12wt4csNational News

Martin Endjala Economist and Independent Bank Researcher, Josef Sheehama, has decried the amount of N$106 million allocated to the Anti-Corruption Commission (ACC) by the Ministry of Finance and Public Enterprise. During the tabling of the National Budget in the National Assembly on Wednesday, Finance Minister Iipumbu Shiimi announced a 29.8 percent increase in the annual allocation to the ACC. The minister said the increase in funds is aimed at improving the ACC’s implementation capacity, particularly in the areas of combating anti-money laundering and financial crimes. The minister said, that despite the recent greylisting of Namibia by the Financial Action Task…

29 Feb

NWR offers a 60 percent discount to locals

info_e12wt4csNational News

Martin Endjala As of 1 March 2024, all lodges under the management of the Namibia Wildlife Resorts (NWR) will offer a discount of 60 percent for local visitors to make it easier for them to experience the diverse landscapes and unique wildlife that Namibia has to offer. NWR Spokesperson, Nelson Ashipala, stressed the organisation's commitment to making domestic travel more accessible to Namibians. "Through our recent engagements with the public, we came to recognise the genuine concerns regarding the affordability of leisure travel," Ashipala stated. He said the special is open to all travellers, however, the hope is to see…

29 Feb

Capricorn Group reports a profit of N$827 million

info_e12wt4csNational News

Martin Endjala Capricorn Group has recorded solid results with profit after tax for the six months ended 31 December 2023, increasing by 18.5 percent to N$827.6 million, compared to a profit after tax of N$698.2m that was reported in the comparative period in the prior year. This represents an increase of 19.4 percent in earnings per share to 152.4 cents. The annualised return on equity at half year increased from 16.6 percent to 16.8 percent. This announcement was made by Capricorn Group Chief Executive Officer Thinus Prinsloo this week. Prinsloo said the Group's strong performance is attributable to loan book…

29 Feb

Disaster management and food security strengthened with new MoU

info_e12wt4csNational News

Martin Endjala To reinforce Namibia's disaster risk management and food and nutrition security the Office of the Prime Minister and the World Food Programme (WFP) signed a Memorandum of Understanding (MoU) to implement a durable strategy aimed at building increased resilience. In this regard, the Executive Director in the Office of the Prime Minister, I-Ben Nashandi, and Dr George Fedha from the WFP signed the agreement earlier this week. The agreement is aimed at unyielding collaboration aimed at enhancing early warning systems, digitalizing food assistance through an electronic voucher system, and implementing a durable strategy for building resilience against food…

29 Feb

Tax relief injects N$646m into taxpayers’ pockets

info_e12wt4csNational NewsTax relief injects N$646m into taxpayers’ pockets

Martin Endjala Minister of Finance and Public Enterprises, Iipumbu Shiimi has announced that government will inject N$646 million directly into taxpayers’ pockets. This means all individual taxpayers will be exempted from paying tax on the first N$100 000 per annum, of their first income as of 1 March 2024. This follows the tabling of the National Budget for the 2024/25 Financial Year in the National Assembly yesterday. The budget for the year under review stands at N$100.1 billion, which is a 12 percent increase from the previous year, under the theme Continuing the Legacy of late President Hage Geingob by…

29 Feb

Old-age grant boosted with N$200

info_e12wt4csNational News

Hertta-Maria Amutenja Minister of Finance and Public Enterprises, Iipumbu Shiimi has announced the increase in the Old Age Grant and Disability Grant. The monthly grant will rise from N$1 400 to N$1 600. “Accordingly, the Old Age Grant and the Disability Grant will be increased from N$1,400 to N$1,600 per month effective on 01 April 2024,” said Shiimi. The minister made the announcement during the unveiling of the 2024/25 Financial Year Budget in Parliament yesterday under the theme, “Continuing the legacy of H. E. Dr. Hage G. Geingob by Caring for the Namibian Child”. This comes after late President Hage…

29 Feb

MUN takes a stand against diamond company for discriminatory labour practices

info_e12wt4csNational NewsMUN takes a stand against diamond company for discriminatory labour practices

Niël Terblanché The Mineworkers Union of Namibia (MUN) has issued its strong condemnation against the practices of Duiker Investments and Almond Diamonds Namibia, a Windhoek-based diamond cutting and polishing firm, for their recent actions involving the retrenchment of 27 employees According to the MUN, the retrenched workers are all members of the union. In a statement, the union said that it has also identified a myriad of other unethical and unfair labour practices at the company. The MUN stated that workers have also registered grievances against the company such as the payment of low wages, employing expatriates without local understudies,…

29 Feb

We want to teach the government a lesson for failing us – Goreangab community

info_e12wt4csNational NewsWe want to teach the government a lesson for failing us - Goreangab community

Stefanus Nashama Residents of the Goreangab Informal Settlement on the outskirts of Windhoek have expressed concern over the Swapo-led government’s failure to meet the demands of the community. Expressing disappointment with the government yesterday, the residents informed the Windhoek Observer that they do not see any reason to waste their votes on the ruling party in the upcoming Presidential and National Assembly elections. The community’s frustration stems from the government’s failure to listen to their demands. Part of the demands of the residents are the establishment of electricity and water supply as well as the installation of sanitation services. The…

29 Feb

Mbumba meets presidency staff and calls for unity and commitment

info_e12wt4csNational NewsMbumba meets presidency staff and calls for unity and commitment

Stefanus Nashama President Nangolo Mbumba stressed continuity, unity and commitment from staff members of the Office of the President during a meeting with them in his new capacity as Head of State. Mbumba, who was one of the political figures and top government officials close to the late President Hage Geingob, said the nation is expecting a lot from staff members of the Presidency. He called for the prioritization of better service delivery to the Namibian nation.At the same time, he urged the staff members to rise to the challenge, adding that they should echo the principles established during Geingob’s…

29 Feb

National Budget: A balancing act

info_e12wt4csMainNational Budget: A balancing act

Niël Terblanché As Namibia navigates the path towards economic recovery and sustainable development, the National Budget represents a strategic effort to leverage the country’s improved economic outlook for the benefit of all Namibians. Ipumbu Shiimi, the Namibian Minister of Finance and Public Enterprises, tabled the National Budget for the next fiscal year in Parliament yesterday. The budget marks a crucial moment in the country’s economic management amidst global uncertainties and a recovering domestic economy. Shiimi announced a comprehensive financial plan that aims to stimulate domestic demand, boost infrastructure development, and ensure fiscal sustainability while addressing the immediate needs of the…