Page 592 – News Stand

09 Aug

Energy sector set for US$1.5B cash injection

info_e12wt4csMainEnergy sector set for US$1.5B cash injection, Nishimura Yasutoshi

Martin Endjala JAPAN’S Minister of Economy, Trade and Industry, Nishimura Yasutoshi says his country is willing to avail U$D 1.5 billion to support Namibia’s energy sector and human resources development. Yasutoshi made this announcement on Tuesday at the State House during the signing ceremony on economic ties between the two countries. He said the funds will also go towards the training of personnel in the rare earth metal supply chain, an industry which is currently booming worldwide now. “This creation industry of rare earth metal is part of Japan’s comprehensive envisaged in Namibia, which could bring about other international investment…

09 Aug

ECB grants CENORED green light to increase prices

info_e12wt4csNational NewsECB grants CENORED green light to increase prices, THE Electricity Control Board (ECB)

Staff Writer THE Electricity Control Board (ECB) has approved a price increase request for electricity by CENORED, at a rate of 7.6 percent for the entity, which mainly operates in central parts of Namibia. CENORED initially applied to ECB to increase its rates by 8.0 percent and 3,5 percent in both Okahandja and Omaheke, however, only, the regulator, only approved an increase of 7,3 percent and 3,3 percent in such areas, respectively. This in essence means domestic consumers will now pay N$ 100 for 35 units of electricity from the initial 40 units, whereas businesses will fork out N$ 100…

09 Aug

Iipumbu urges NaCC, NEAB boards to uphold public governance standards

info_e12wt4csNational NewsIipumbu urges NaCC, Namibia Estate Agents Boards of Directors (NEAB, NEAB boards to uphold public governance standards

Staff Writer Minister of Industrialisation and Trade, Lucia Iipumbu, has implored Namibian Competition Commission (NaCC) and the Namibia Estate Agents Boards of Directors (NEAB) to uphold public governance standards. Iipumbu said this during the inauguration of the boards of directors which jointly took place in Windhoek on Monday. She reminded the directors that sound corporate governance is the basis for any institution’s success, and encourages the two boards to lead the institutions in line with the Public Enterprises Governance Act. “Good corporate governance requires credible and trustworthy institutions built on principles of transparency and accountability. Accountability goes beyond the mere…

09 Aug

Omuthiya ready for August 26 Commemorations

info_e12wt4csNational NewsOttilie Shingenge

Stefanus Nashama OMUTHIYA Town Council says it is ready to host this year’s 33rd Heroes Day commemorations on August 26 at the Omuthiya Recreational Park. Omuthiya Town Council Spokesperson, Ottilie Shingenge stated on Wednesday that the town is ready to host the Heroes’ Day celebration for the second time after hosting it in 2012. “In terms of readiness, Omuthiya Town Council, as a hosting town, is ready to host the 26 August 33 Heroes’ Day commemorations. In terms of venue, cleanliness of the town, and all logistic arrangements are in place,” she said. This follows an official announcement was made…

09 Aug

Interim Nust Chairperson calls for informed decision-making

info_e12wt4csNational NewsInterim Nust Chairperson calls for informed decision-making, Leake Hangala, Technology (Nust) Council Chairperson

Staff Writer INTERIM Namibia University of Science and Technology (Nust) Council Chairperson, Leake Hangala has called upon the board and management to make informed decisions without wasting time. Hangala was appointed interim Nust Council Chairperson by the Minister of Higher Education, Technology and Innovation (MHETI), Itah Kandjii-Murangi on July 13 and will serve until a substantive board is inaugurated. The previous Nust Council’s term ended a month ago. The Council has been embroiled in governance issues with the management of the university as well as the Higher Education Minister Kandjii-Murangi. Hangala, an astute businessman with experience in governance is deputised…

08 Aug

Mnyupe to lead GH2 Implementation Authority

info_e12wt4csObserver MoneyJames Mnyupe, Mnyupe to lead GH2 Implementation Authority

PRESIDENTIAL Economic Advisor, James Mnyupe, who is also the Green Hydrogen Commissioner, has been assigned to manage the Green Hydrogen (GH2) Implementation Authority Office at the Ministry of Mines and Energy under the GH2 Namibia Program. According to a media statement issued by the Ministry of Mines and Energy on Monday, Mnyupe will manage the program as its Commissioner for five years, reporting directly to the Minister of Mines and Energy. “In this regard, he will be in charge of assembling the necessary team to propel the program’s success in the coming months. Mnyupe will continue to serve as Economic…

08 Aug

Namibia enacts first visual assets Act

info_e12wt4csObserver MoneyBANK of Namibia (BoN, Namibia enacts first visual assets Act

Stefanus Nashama BANK of Namibia (BoN) says the country has approved laws for the first time to license and regulate virtual asset service providers and initial token offering service providers. This was revealed by BoN Director of Strategic Communications and International Relations, Kazembire Zemburuka yesterday. BoN will administer the Virtual Assets Act, 2023 (Act No. 10 of 2023) (VAA), which went into effect on July 25. “Before the landmark legislation was enacted, Namibia identified virtual assets as a growing threat avenue for generating and laundering proceeds of crime, with the banking sector and members of the general public being the…

08 Aug

Foreign Investment Act is outdated: Iipumbu

info_e12wt4csNational News

Hertta-Maria Amutenja MINISTER of Industrialisation and Trade, Lucia Iipumbu says Namibia’s Foreign Investment Act is out of date and does not accommodate modern investment dynamics such as innovation and sustainable investment. Iipumbu made these statements during the Namibia Investment Promotion and Facilitation Bill Stakeholders Consultation in Windhoek on Monday. She highlighted that the current legislation does not support realistic efforts that encourage the adoption of 4th Industrial Revolution-driven investments, nor will it sufficiently support future policy developments centered on Special Economic Zones, which aim to safeguard Namibia’s ability to attract investments. “The new investment policy regime will thus improve a…

08 Aug

Homosexuality is a call from God: Mushunina

info_e12wt4csNational Newsanti-same-sex marriage Private Member’s Bill., Homosexuality is a call from God: Mushunina

Staff Writer JEREMIAH Mushunina has urged President Hage Geingob not to sign Swapo Parliamentarian and former Youth Minister, Jerry Ekandjo’s anti-same-sex marriage Private Member’s Bill. Mushunina became famous after he publicily outted a male pastor whom he was in a homosexual relationship with and was also one of the guest speakers at the Ondangwa anti-gay and same-sex marriage rally. Mushunina stated in a video extensively circulated on social media that homosexuality is a “call from God,” and that no one should deceive the public by attempting to come clean while interacting with people who engage in the practice. “I was…

08 Aug

Prioritise funding entrepreneurship over social grants: Sheehama

info_e12wt4csNational NewsPrioritise funding entrepreneurship over social grants: Sheehama

Martin Endjala INDEPENDENT bank researcher and economist, Josef Sheehama says one way to alleviate teenage unemployment is to foster entrepreneurship rather than focusing solely on social grants, as some people advocate. Sheehama told Windhoek Observer that entrepreneurial support appears to be a successful approach because it can lead to enhanced economic inclusion, less assistance dependency, and stronger social cohesion of forcibly displaced people throughout their displacement cycle. “Despite increased coverage of social grants and well-developed social security, poverty in Namibia has historically been high. Monthly grants can greatly improve conditions; nevertheless, they will not provide the same level of support…