Page 569 – News Stand

05 Sep

When fuel prices spike people can expect an increase in inflation

info_e12wt4csObserver MoneyMinistry of Mines and Energy, When fuel prices spike people can expect an increase in inflation

Martin Endjala Consumers may already understand the implications of higher oil prices because when fuel prices increase, a larger share of households’ budgets is likely to be spent on it, which leaves less to spend on other goods and services. The same goes for businesses whose goods must be transported from place to place or that use fuel as a major input such as mining, agriculture and construction industries. These were the words of Independent Researcher and Economist, Joseph Sheehama while reacting to the fuel price increment by the Ministry of Mines and Energy yesterday. The Ministry informed the public…

05 Sep

Namibians face a sharp increase in fuel price

info_e12wt4csObserver MoneyNamibians face a sharp increase in fuel price

Niël Terblanché NAMIBIAN motorists face a sharp increase in spending as the price of fuel has been drastically adjusted upwards for the month of September. The Ministry of Mines and Energy issued a statement in which it announced that the pump price for petrol will increase by N$1.20 and both kinds of diesel sold in Namibia will increase by N$1.70. As a result, the pump price for petrol in Walvis Bay will be adjusted to N$20.98 while 50PPM diesel will cost N$20.75 and 10PPM diesel will cost N$20.95. The ministry said that the price will be adjusted according to distance…

05 Sep

For Namibia to become industrialised,it will require investors: Alweendo

info_e12wt4csNational NewsFor Namibia to become industrialised, Tom Alweendo

Martin Endjala Mines and Energy Minister, Tom Alweendo has emphasised that if Namibia is to become an industrialised country, then leaders must continue inviting and attracting investors which is part of the vision to tap into mineral resources. Alweendo made these remarks during the Namibia-Korea Energy Resources Business Forum yesterday in Windhoek. The Minister stressed that Namibia will only allow investments into its critical raw minerals to be exploited on a win-win outcome. He said that gone are the days, where the country’s valuable minerals get chipped out of the country and refined elsewhere without value addition, for this reason,…

05 Sep

MPs expected to address health issues and other challenges as Parliament resumes today

info_e12wt4csNational NewsDuminga Ndala, MPs expected to address health issues and other challenges as Parliament resumes today

Martin Endjala National Assembly will be under immense pressure as Namibians anticipate numerous issues to be on the agenda when Parliament resumes today following a break where several oversight visits across the country by various Parliamentary Standing Committees and the race to pass all bills to avoid financial greylisting. During the oversight visits, issues ranging from the state of health facilities, education, poverty, road infrastructures, Gender-Based Violence, and various water and electricity crises are among many issues anticipated to take centre stage in the August house. Political Analyst Ndumba Kamwanyah, yesterday said Members of Parliament have set for themselves high…

05 Sep

New minimum wage agreed for Namibia’s agricultural sector

info_e12wt4csNational NewsNamibia Agricultural Labour Forum (NALF), New minimum wage agreed for Namibia’s agricultural sector

Niël Terblanché In a significant step forward for labour rights, the Namibia Agricultural Labour Forum (NALF) has successfully concluded negotiations to increase the minimum wage for farmworkers in both the commercial and communal farming sectors. The newly agreed-upon minimum wage, effective from 1 October 2023, represents a 10 percent increase over the previous year’s minimum wage. The current minimum wage, which was in place throughout 2022, is set to rise to N$6.00 per hour or N$1,170 per month for employees working a 45-hour workweek. In addition, workers who do not receive free rations will see their monthly ration allowance increase…

05 Sep

Savanna Beef Processors plans new state-of-the-art processing facility

info_e12wt4csNational NewsSavanna Beef Processors (SBP), Savanna Beef Processors plans new state-of-the-art processing facility

Niël Terblanché Savanna Beef Processors (SBP) celebrated a significant milestone during its inaugural Annual General Meeting (AGM) where the company showcased remarkable achievements in the fields of engineering, financial planning and market engagement over the past year. One of the most outstanding announcements was SBP’s successful capital-raising efforts, which have secured N$181 million to fund the construction of a state-of-the-art export beef-processing facility in Namibia. In a statement, the company said it is actively pursuing a third private placement, set to close on September 7, with the goal of reaching N$200 million in total funding. Several key developments were discussed…

05 Sep

Standard Bank Namibia appoints a new CEO

info_e12wt4csObserver MoneyErwin Tjipuka, Standard Bank Namibia appoints a new CEO

Niël Terblanché Standard Bank Namibia has advised its shareholders about the appointment of Erwin Tjipuka as the new Chief Executive Officer of Standard Bank Namibia Holdings Limited and Standard Bank Namibia Limited. Shareholders were advised in accordance with Rule 3.59 of the Namibian Stock Exchange Listing Requirements. According to the advisement, Tjipuka is a Namibian chartered accountant and an experienced professional with a demonstrated history of working in the professional and financial services industry. Tjipuka is skilled in Financial Management, External Audit, Corporate Finance, Management Consulting and Banking. He is a transformational leader with a passion for talent development and…

05 Sep

Pensioner loses lawsuit against ACC’s Noah and Imalwa

info_e12wt4csNational NewsAnti-Corruption Commission (ACC), Martha Imalwa, Paulus Noah, Pensioner loses lawsuit against ACC’s Noah and Imalwa, Selma Fimanekeni Mbome

Hertta-Maria Amutenja The Director General of the Anti-Corruption Commission (ACC), Paulus Noah, and Prosecutor General, Martha Imalwa have emerged victorious in a lawsuit filed against them by pensioner Selma Fimanekeni Mbome for unlawful arrest by ACC members in 2017. The ruling was handed down by High Court Judge Kobus Miller yesterday. In her lawsuit, Mbome cited Noah, Imalwa and the government as the first, second, and third respondents. She sought N$1,695,454 in damages, with interest at a rate of 20 percent per annum for the suffering she endured during her arrest and the associated legal costs. Mbome was arrested in…

05 Sep

Menzies Aviation accuses judge of erring on facts and the law

info_e12wt4csMainJudge Prinsloo, Menzies Aviation accuses judge of erring on facts and the law

Niël Terblanché Menzies Aviation Namibia has filed a notice with the High Court of Namibia in which the United Kingdom-based company intend to lodge an appeal against the judgement delivered on Friday by Justice Hannelie Prinsloo with the Supreme Court of Namibia. The decisive judgment handed down by Judge Prinsloo reaffirmed the legality of the eviction of Menzies Aviation Namibia from the Hosea Kutako International Airport (HKIA) on 19 August 2023. The ruling reiterated Menzies’ lack of legal standing at the HKIA but also underscored the authority of the Namibia Airports Company (NAC) to enforce the previous court orders. Judge…

04 Sep

On the road with Faraway Sandy Trails Stonetrees, a White Lady & many cups of coffee

info_e12wt4csFeaturedOn the road with Faraway Sandy Trails Stonetrees

Ron Swilling I picked up some unusual travelling literature on a recent trip through Namibia, a book called ‘Faraway Sandy Trails’ written by Lily Marion Newton more than sixty years ago. It gave me the opportunity to compare routes and find amusing and interesting anecdotes about the country and the days of travel before organised tourism and tar roads. This time I focused on the chapter about two attractions in north-western Namibia, the Petrified Forest and the well-known White Lady rock painting. Today both are on the tourist map and there are well-signposted gravel roads, but in Lily’s day it…