Page 583 – News Stand

03 Nov

Namibia’s maturing bonds stand at N$34.5 billion

info_e12wt4csObserver Money

Chamwe Kaira The Government has successfully redeemed the JSE-listed Nam03 bond, which matured on the 1st of August with an outstanding balance of N$157 million. This is contained in the Fiscal Policy Statement for the Financial Year 2024/2025 to 2026/2027 released by the Ministry of Finance and Public Enterprises this week. The Government further rolled over the GC23 bond on the 15th of October. To this effect, an outstanding balance of N$2.1 billion at redemption was successfully rolled into other medium to long term bonds along the yield curve. Further, maturing bonds over the Medium Term Expenditure Framework (MTEF) amounts…

03 Nov

Public Enterprises employ 25 000 people

info_e12wt4csObserver Money

Chamwe Kaira Public Enterprises employ 25 000 people, according to statistics released by the Minister of Finance and Public Enterprises, Ipumpu Shiimi this week. The government is in the process of reforming public enterprises to improve their operations. Namibia currently owns 81 Public Enterprises (PEs) consisting of commercial, non-commercial and extra budgetary funds. The Total Asset Value of the all Public enterprises stands at N$119 billion and liabilities at N$60 billion, giving a portfolio Net Asset Value of N$50 billion. Shiimi said it is known the performance of a number of our public enterprises is mediocre; service delivery is ineffective…

03 Nov

Apex Group to launch in Namibia

info_e12wt4csObserver Money

Apex Group Ltd, a global financial services provider, has announced its expansion into the Namibian market with the appointment of Sybil Somaes as Country Head – Namibia, responsible for overseeing the delivery of Apex Group’s single-source solution to global clients. Apex Group’s Namibia business supplements the group’s existing presence in South Africa where it currently employs over 1200 people across offices in Cape Town and Johannesburg, servicing 140 clients with assets of USD$130 billion. Apex Group in Namibia will be led by newly appointed Sybil Somaes, with plans to grow client service and delivery teams in this location through the…

02 Nov

Meet Aroab FC from the Karas Football League

info_e12wt4csSportsAllien Esau, Front from the left: Veronice Gena Cloete, Patricia Meet Aroab FC from the Karas Football League, Shahida Shantie Rooi

Front from the left: Veronice Gena Cloete, Shahida Shantie Rooi, Allien Esau, Patricia Meet Aroab FC from the Karas Football League Van Schalkwyk, Emmogene Wendy Freyer.Back Standing: Desiree Debro Schalk C, Tiffany De Klerk, Theresia Elsie Swartbooi, Frankline Kooper, Clerita Descande V’C and Theopoltina Jera Matroos

02 Nov

FNB WSL League Winners to Receive N$250,000 Cash Prize in 2023/24 Season

info_e12wt4csSports000 Cash Prize in 2023/24 Season, FNB WSL League Winners to Receive N$250

Windhoek, Namibia: FNB has announced a substantial increase in the cash prize for the winners of the FNB Women Super League (WSL) for the 2023/24 season. The victorious team will now walk away with a remarkable N$250,000, a significant leap from the N$80,000 awarded to the champions in the previous season. This announcement was made during the league’s official draw launch in the capital city, Windhoek. FNB’s Head of Marketing, Gordon Pokolo, expressed the bank’s commitment to supporting women’s football in the country through this sponsorship, which is now in its second year of a three-year contract. Pokolo also emphasized…

02 Nov

Botswana, Namibia fail to progress in Olympic qualifiers

info_e12wt4csSportsBotswana, Namibia fail to progress in Olympic qualifiers

Botswana and Namibia have bowed out of the qualifiers for the 2024 Paris Olympics after defeats on Tuesday, but two teams from the COSAFA region remain in contention … and both could make it. Namibia lost 2-0 in Morocco in the second leg of their second round tie to go down 4-0 on aggregate to the 2023 FIFA Women’s World Cup participants. Namibia fought hard in the tie and held the North Africans until the 76th minute of the second leg before conceding to Imane Saoud and Ghizlane Chebbak (penalty). Botswana also trailed 2-0 from the first leg of their…

02 Nov

Unemployment poses a persistent threat of trauma among the youth

info_e12wt4csNational NewsUnemployment poses a persistent threat of trauma among the youth

Stefanus Nashama The Minister of Labour, Industrial Relations, and Employment Creation, Utoni Nujoma, has emphasized that unemployment, especially among the youth, poses a significant threat of causing lasting trauma among this demographic in Namibia. Addressing the strategic planning workshop of the Labour Advisory Council (LAC) in Otjiwarongo this week, the Minister highlighted that the workshop was convened during a challenging period when the country faces labor-related issues. “We are meeting at a time when high levels of unemployment, especially among the youth, are on the brink of permanently affecting a generation of young Namibians. Furthermore, many Namibian workers do not…

02 Nov

Namibia will not be signing new agreement with the EU

info_e12wt4csNational News

Martin Endjala Deputy Prime Minister and Minister of International Relations and Cooperation Netumbo Nandi-Ndaitwah said Namibia will not be signing the new partnership agreement between the European Union (EU), the Organisation of the African, Caribbean and Pacific States (OACPS) in its current form. The agreement was set to be signed on 15 November 2023. Nandi-Ndeitwah announced this in Parliament yesterday, saying that due to concerns raised in 2021 by the government regarding several provisions in the New Partnership Agreement that are of fundamental concern to Namibia. “In this regard, the Attorney-General Festus Mbandeka was asked to provide a legal opinion…

02 Nov

Sign language should be a mandatory subject in schools

info_e12wt4csNational NewsSign language should be a mandatory subject in schools

Martin Endjala Bernadette Jagger, the Deputy Minister of Gender Equality, Poverty Eradication and Social Welfare, says sign language must be part of school curricula and become a mandatory subject in the Namibian school system. “It is believed that teaching sign language in schools, not only develops the confidence of deaf children to make friends and express themselves more, but hearing children will also gain the skills to communicate more with them,” she said. Jagger said this while contributing to a motion tabled recently in parliament by Deputy Minister Alexia Manombe-Ncube of Disability Affairs on recognising Namibian sign languages in the…

02 Nov

Vulnerable households receive assistance on World Food Day

info_e12wt4csNational NewsVulnerable households receive assistance on World Food Day

Niël Terblanché In commemoration of World Food Day, the Capricorn Foundation, in partnership with the Ministry of Agriculture, Water and Land Reform (MAWLR), extended a helping hand to 200 vulnerable households in the Kavango East region of Namibia. The foundation contributed N$62,000.00 to provide food parcels to those in need, demonstrating their commitment to addressing food insecurity in the country. World Food Day (WFD), is observed annually in mid-October and is a global initiative led by the Food and Agriculture Organisation (FAO) of the United Nations to combat world hunger and raise awareness about food challenges worldwide. In Namibia, the…