Page 508 – News Stand

07 Mar

Capricorn Group creates stakeholder value worth N$2.42 billion

info_e12wt4csNational News

Martin Endjala In its interim financial results for the six months ended 31 December 2023, the Capricorn Group said in their report that it created a value of N$2.42 billion for all its stakeholders. The Group’s Chief Executive Officer, Thinus Prinsloo said the Group's positive financial performance enabled the bank to create value for all stakeholders, contributing to the socio-economic development of Namibia and Botswana and positively impacting many lives including employees, suppliers, shareholders, communities and government. The value is spread across its shareholders mainly, its employees at an amount of N$563 million, the government through taxes N$574 million, ordinary…

07 Mar

Revised resettlement policy aimed at improved agricultural productivity

info_e12wt4csObserver MoneyRevised resettlement policy aimed at improved agricultural productivity

Niël Terblanché In a significant stride towards rectifying past injustices and fostering equitable land distribution, the Minister of Agriculture, Water and Land Reform, Calle Schlettwein, presented the revised national resettlement policy to Parliament on Tuesday. Set to come into effect in April 2024, the new policy will span the next decade and aims to ensure that land acquired by the government is allocated equitably and utilized sustainably to enhance livelihoods across Namibia. Schlettwein articulated that the policy specifically targets Namibians devoid of agricultural land, including those historically disadvantaged by discriminatory laws and practices. The revised policy categorizes potential beneficiaries into…

07 Mar

Namfisa’s reform strategy will spearhead financial sector evolution

info_e12wt4csObserver MoneyNamfisa’s reform strategy will spearhead financial sector evolution

Niël Terblanché The Namibia Financial Institutions Supervisory Authority (Namfisa) will undergo a critical transformation aimed at revamping its regulatory and supervisory framework to foster innovation, enhance service delivery, and ensure a robust financial sector. Namfisa’s Chief Executive Officer Kenneth Matomola, Namfisa’s stated that the reform strategy is multifaceted, focusing on institutional, legislative, and supervisory changes. Namfisa, tasked with overseeing non-banking financial institutions, has identified outdated laws as significant impediments to innovation and efficient implementation. The existing regulatory framework, based on a compliance-driven approach, contrasts sharply with the global shift towards risk-based supervision. To address these challenges, according to Matomola, Namfisa…

07 Mar

DBN’s lack of presence in all regions hampers SME growth – Masua

info_e12wt4csNational NewsDBN’s lack of presence in all regions hampers SME growth - Masua

Martin Endjala Swapo Member of Parliament, Patience Masua says that the current situation where the Development Bank of Namibia (DBN) do not have visibility in all the regions across the country, presents a significant challenge of inequity as the DBN’s presence is not uniformly established across all regions of Namibia. “Our young people from the regions are excluded. Young people from Omaheke (Epukiro, Vergenoeg, etc.), young people from Kharas, Zambezi, and all other regions are excluded. This geographical discrepancy excludes a critical sector of our society, particularly the rural and peri-urban youth, from availing themselves of the financial support and…

07 Mar

African Games Set to Host Historic Cricket Tournament in Ghana

info_e12wt4csSportsAfrican Games Set to Host Historic Cricket Tournament in Ghana

Ghana is gearing up to host a historic event as cricket makes its grand entrance into the African Games. Scheduled to take place from March 7 to March 13, the tournament promises to be a thrilling showcase of talent and sportsmanship from across the continent. Among the teams participating in this landmark event is the Capricorn Eagles from Namibia, who are eagerly anticipating the opportunity to display their brand of cricket on the African stage. Placed in Group A alongside formidable opponents such as South Africa, Tanzania, and Nigeria, the Eagles are poised to compete fiercely for a spot in…

07 Mar

PDM replaces UPM members in Parliament amidst alliance dissolution

info_e12wt4csNational NewsPDM replaces UPM members in Parliament amidst alliance dissolution

Stefanus Nashama Yesterday, Chief Justice Peter Shivute administered the oath of office to two new Members of Parliament from the Popular Democratic Movement (PDM), Loide Iipinge and Katrina Benz. They are stepping in for Jan van Wyk and Frans Bertolini, previously of the United People’s Movement (UPM). This transition occurred following the Speaker of the National Assembly, Peter Katjavivi’s declaration of vacancies on behalf of PDM’s request. This was the result of the UPM departing from their alliance with the PDM to support Ally Angula’s independent presidential candidacy. The vacancies emerged when PDM’s Secretary-General, Manuel Ngaringombe, petitioned for the dismissal…

07 Mar

Namibia to model its oil and gas industry on Angolan benchmark

info_e12wt4csMainNamibia to model its oil and gas industry on Angolan benchmark

Niël Terblanché In a strategic move aimed at bolstering Namibia’s emerging oil and gas sector, President Nangolo Mbumba announced that the country will draw valuable insights from Angola’s industry framework. The President made the declaration upon his return from a one-day official working visit to Angola earlier this week. The visit marked a crucial step in Namibia’s journey towards developing its oil and gas industry. During his visit, President Mbumba toured the Sonangol Integrated Logistics Services (SONILS) at the Port of Luanda, a crucial hub that exemplifies Angola’s sophisticated approach to oil and gas logistics and services. SONILS, a partnership…

07 Mar

Hengari urges govt to consider funding bill for constituency development

info_e12wt4csNational Newshas proposed for the government to thoroughly consider the bill concerning funding for regional and constituency development., Inna Hengari, Popular Democratic Movement Parliamentarian

Stefanus Nashama Popular Democratic Movement Parliamentarian, Inna Hengari, has proposed for the government to thoroughly consider the bill concerning funding for regional and constituency development. The proposal is also directed to Erastus Uutoni, the Minister of Urban and Rural Development. Speaking in Parliament on Tuesday, Hengari stressed the need to rectify the oversight regarding regional and constituency councillors, who are democratically elected by their constituents. “Regional and constituency councillors deserve a more significant role in the allocation of funds dedicated to development projects within their respective constituencies,” she said. Last month, Minister Uutoni introduced the regional and constituency development fund…

07 Mar

NCRST appoints National Space Science Council members

info_e12wt4csNational NewsNCRST appoints National Space Science Council members

Hertta-Maria Amutenja In a giant stride towards scientific and technological advancement, the National Commission on Research, Science, and Technology (NCRST) has established the National Space Science Council. Inaugurated this month, the council is poised to influence Namibia’s space science and technology landscape in the coming three years. Minister of Higher Education, Technology, and Innovation, Itah Kandjii-Murangi, underscored the council’s vital role, stating, “The National Space Science Council will serve as a catalyst for transformative change, driving progress and shaping the future of our nation and beyond.” The members are Colonel Peter Ndemuweda, who has been selected for his skills and…

07 Mar

Khomas Regional Council challenged by urbanisation

info_e12wt4csNational News

At the recent belated commemoration of the International Day for Disaster Risk Reduction (IDDRR) 2023, the Chairperson of the Khomas Regional Council, Shaalukeni John Moonde, highlighted the pressing challenge of urbanisation affecting the council’s ability to respond to disasters effectively. “The rapid influx of rural to urban migration not only hampers our ability to implement development programmes, but also affects our service delivery, such as access to clean water, sanitation, and emergency services,” he said. The councillor stressed that the vulnerable residents in informal settlements are most impacted by the lack of access to emergency services during disasters. In addition,…