Page 62 – Windhoek Observer

18 Sep

Letshego freezes salary-deduction loans for civil servants

Observer Money

Staff Writer In response to a directive from the ministry of finance, Letshego Holdings Namibia and its subsidiaries, Letshego Bank Namibia and Letshego Micro Financial Services Namibia, have suspended all new deduction at source loans for government employees with immediate effect. The company said all new micro-lending loans will now be issued through debit order arrangements and subject to a credit affordability assessment to ensure responsible lending. “While this marks a significant shift in the business landscape, Letshego has been preparing for this transition. Since 2016, the company has strategically diversified its product offering beyond micro-lending to include banking services.…

18 Sep

IFC’s Namibia portfolio shrinks to N$53m

Observer Money

Chamwe Kaira The International Finance Corporation’s (IFC) portfolio exposure in Namibia amounted to US$3.08 million (N$53 million) in the financial year ended 30 June 2025, representing 0.01% of its global disbursed portfolio. This was down from US$10.67 million (N$184 million) in 2024. IFC’s investments in Namibia focus on access to finance, SME support, and infrastructure development, with an emphasis on resilient markets and private capital. IFC, established in 1956 and part of the World Bank, aims to further economic development by encouraging private enterprise in member countries. The corporation reported a net income of US$2 billion in 2025, compared to…

18 Sep

Uncertainty highlights the importance of outcome-based investing

Observer Money

Neville Ntema Against the backdrop of global markets in flux, imagine an investor nervously scrolling through their phone, eyes darting over headlines filled with policy changes, geopolitical tensions, and consumer behaviour shifts. Each alert brings a fresh wave of anxiety, with tariff shocks, diplomatic standoffs, and rapid technological change shaking confidence. Volatility has become the norm, and uncertainty is likely to remain with us for some time. When faced with turbulence, many investors get distracted by the noise. Yet it is precisely in these moments that discipline matters most. At Momentum Investments, we believe uncertainty highlights the importance of outcome-based…

18 Sep

Capitalism being the root cause? Deal with it!

Opinions

Kae Matundu-Tjiparuro Most recently, Yours Truly Ideologically stumbled on social media upon a video interview with an Afro-American granny-sister, Samaria Bailey, now 75-years-old, reminiscing about her childhood. When as a child she was made to follow her mother, who had a bag on her back, in the cotton field during the days of slavery. A bag in which the little Bailey had to throw in cotton picked from the field. The interesting thing about her is that in her reminiscence she found nothing wrong with this, nor with her mother and/or parents, enslaved as they were by the American system…

18 Sep

OBSERVER COASTAL | First covid victim’s burial site finally cordoned off

National News

Renthia Kaimbi Nearly five years after Walvis Bay became the epicentre of the country's Covid-19 pandemic, the Narraville cemetery is finally being secured. The site holds the grave of the first Namibian to die from the virus and has long remained unprotected. The project, led by the Walvis Bay Municipality, includes building a perimeter wall and a formal gated entrance. The grave of a 45-year-old man who died in July 2020, was buried under strict health protocols. Over the years, its exposed state caused distress for residents and the victim’s family. His sister, Suoma Kashava, told the Windhoek Observer that…

18 Sep

NamRA boss told to probe own nepotism

Main

Justicia Shipena The ministry of finance has instructed Namibia Revenue Agency (NamRA) commissioner Sam Shivute to investigate allegations of nepotism and favouritism lodged against him. On 6 May 2025, finance ministry executive director Michael Humavindu told Shivute in a letter that the seriousness of the complaint required a “prompt and thorough investigation”. He requested a formal report with findings and corrective actions by 30 June 2025 and emphasised confidentiality and urgency. The complaint was filed on 22 April 2025 by NamRA's human resource officer, Ndamononghenda Nampweya, who was suspended in October 2023. In a letter addressed to finance minister Erich…

18 Sep

NNN to announce new ambassadors before Friday

National News

Renthia Kaimbi President Netumbo Nandi-Ndaitwah is expected to announce new ambassadorial appointments before Friday. Presidential press secretary Jonas Mbambo confirmed the timeline to the Windhoek Observer. “The news is coming out soon. Definitely before Friday,” he said. Sources say as many as 23 new diplomatic appointments are planned. The Windhoek Observer has also learnt that the ministry of international relations and trade has reportedly already sent 23 requests for agrément, the official approval from host countries, to those being considered. The sources said so far, 15 have accepted the offers, while responses from the remaining eight are still pending. The…

18 Sep

Windhoek needs central bus station and trains – Nawases-Taeyele

National News

Justicia Shipena Urban and rural development deputy minister Evelyn !Nawases-Taeyele has called for a new central bus station and discussions on commuter trains as part of efforts to ease Windhoek’s public transport challenges. !Nawases-Taeyele said the proposals are necessary to improve accessibility and reduce congestion. She spoke after joining residents on Wednesday for a “Commuter Ride Experience”, where leaders spent the morning using public transport under the theme “Leadership in Motion”. “We woke up early, stood at the bus stop, felt the waiting times, experienced the pace of traffic, and shared a seat on the bus just as thousands of…

18 Sep

Housing applicants upset over NHE housing verification process

National News

Hertta-Maria Amutenja The Khomas Residents and Ratepayers Association (KRRA) has challenged the National Housing Enterprise (NHE) over a verification deadline set for 18 September 2025, calling it unfair to applicants who have waited decades for housing. KRRA spokesperson Shaun Gariseb said the association wrote to NHE acting regional manager Veginia Tjitemisa after receiving complaints from Windhoek residents and applicants currently out of town. “We have written to NHE acting regional manager Veginia Tjitemisa to explain to us what the logic is behind having a due date when people have waited for 30 years,” Gariseb said. The association said some applicants…

18 Sep

OBSERVER COASTAL | Suspended IPC councillor faces arrest over N$116k fraud

National News

Renthia Kaimbi Suspended Walvis Bay Rural constituency councillor Florian Donatus faces imminent arrest over a fraud and theft case involving the Erongo Regional Council. The case, registered in Swakopmund, alleges Donatus used a council credit facility to procure goods worth N$116 464.31 during his tenure. Initial reports in July suggested unidentified individuals had used the same facility to buy items worth N$32 000. Investigators now indicate that Donatus acted alone. He is accused of taking items from Metro Walvis Bay and charging them to the council’s refreshment account without approval from the council administrator. Erongo regional commander commissioner Nikolaus Kupembona…