Page 774 – News Stand

10 Aug

Central bank to provide FinTech guidance

info_e12wt4csObserver MoneyCentral bank to provide FinTech guidance, Director of Strategic Communications and International Relations, Kazembire Zemburuka

Chamwe Kaira The Bank of Namibia has come up with a regulatory framework to provide guidance on how the bank will treat financial technology (FinTech) innovations that are not covered under the bank’s existing regulations. “The regulatory framework provides a step-by-step analytical framework to identify whether an innovation qualifies as a FinTech innovation followed by a phased approach to understand, evaluate and test the innovation before the regulatory outcome on the innovation can be determined,” says Kazembire Zemburuka, Director of Strategic Communications and International Relations. The Fintech Africa Summit held in March concluded that the impact of financial technology (FinTech)…

10 Aug

NamRA to enhance compliance and enforcement

info_e12wt4csObserver MoneyNamRA to enhance compliance and enforcement, Steven Ndorokaze, Taxpayer/Trader Appreciation Day

CHAMWE KAIRA Sixteen months since its inception, the Namibia Revenue Agency’s major highlight has been surpassing the revenue target for the first financial year by N$3.5 billion. The revenue is for the period April 2021 to July 2022. NamRA’s Chief of Strategic Communications and Support Engagements, Steven Ndorokaze says that the recruitment process, which involves absorbing the staff seconded from the Ministry of Finance has gained significant momentum and has added to the agency’s revenue target. “Lot of work was also done to ensure that our systems are compatible with demands of the time, while assessing the various processes to…

10 Aug

Old Mutual looks at impact of Covid 19

info_e12wt4csObserver MoneyManaging Director of Old Mutual Short-Term Insurance, Market Conduct Policy, Old Mutual looks at impact of Covid 19, Riaan Vermeulen

CHAMWE KAIRA Covid-19 had a major negative impact on businesses in Namibia, including on the short term insurance industry. Riaan Vermeulen, Managing Director of Old Mutual Short-Term Insurance explains to the Windhoek Observer that not all their clients had the relevant cover for Business Interruption caused by Infectious Diseases. “It is therefore impossible to quantify the full impact on our customers though it is safe to say it was severe,” explains Vermeulen. Commenting on the move by Old Mutual to pay out its customers despite the tough economic environment, Vermeulen explains that Old Mutual’s position has always been to accept…

10 Aug

Businesses recovery from pandemic to take time

info_e12wt4csObserver MoneyBusinesses recovery from pandemic to take time, Jerome Mutumba, Marketing and Corporate Communication

CHAMWE KAIRA Businesses are slowly recovering from the losses brought about by disruptions from the Covid -19 pandemic lockdowns. The Development Bank of Namibia believes that the recovery process will still take time before businesses start to operate at normal levels. Head of Marketing and Corporate Communication, Jerome Mutumba notes that the debt servicing is still one area that a number of businesses are yet comfortably able to deal with, but some are slowly getting there. “Regrettably, there are businesses that simply had to shut down for good, and the only option for lenders to such business is liquidation of…

10 Aug

LPM lists Swapo leaders ‘guilty’ of hate speech

info_e12wt4csNational NewsHenny Seibeb, Katrina Hans-Himwara, LPM lists Swapo leaders ‘guilty’ of hate speech, LPM media conference held in Swakopmund, retired NDF Lieutenant General Martin Shalli, Swapo politburo member

Martin Endjala The Landless People’s Movement has listed names of politicians who should be charged for hate speech. The party said targeted sanctions should be imposed of these individuals by international human rights bodies.LPM’s deputy leader Henny Seibeb made this revelation today at the LPM media conference held in Swakopmund. He said they have been compiling a list of hate speech transgressors since 2020 and will be handing over these names to the African Union and the United Nations human rights governing body, with an intention to impose sanctions against the individuals involved. Among the listed names are the Swapo…

10 Aug

City to start with housing unit in informal areas

info_e12wt4csNational News400 houses, City of Windhoek (CoW), National Housing Enterprise (NHE)

Tujoromajo Kasuto The National Housing Enterprise (NHE) has called on Windhoek residents living in the informal areas to register for the construction of affordable houses, on Saturday, 13 August 2022. The Informal Settlement Upgrading project is an initiative of the Minister of Urban and Rural Development, Erastus Uutoni, in conjunction with the City of Windhoek (COW), NHE and the Khomas Regional Council. The initiative has constructed close to 400 houses since its inception in 2020. The NHE team will be stationed at Stop and Shop in Okuryangava, Katutura, from 08h00 to 12h00. According to NHE spokesperson Tuafi Shafombabi prospective clients…

10 Aug

OGF calls for serious recalibration on genocide, reparation question

info_e12wt4csNational NewsImperial Germany at Ohamakari in 1904, Mbakumua Hengari, OGF calls for serious recalibration on genocide, Ovaherero and Ovambanderu Genocide Foundation (OGF) Interim Chairperson, reparation question

Staff Wrter Ovambanderu, Ovaherero and Nama descendants must use sacred days, such as 12 August, which is the day of the beginning of the war of resistance against Imperial Germany at Ohamakari in 1904 to reflect on their journey this far. The Battle of Ohamakari will be commemorated this weekend in Okakarara, 118 years after. The Ovaherero and Ovambanderu Genocide Foundation (OGF) Interim Chairperson, Mbakumua Hengari, says in statement to mark and observe the day that it must be the beginning of a serious reflection by the descendants of genocide. This is to chart the way forward in view of…

10 Aug

Namibia records high trade shortfalls

info_e12wt4csNational NewsN$4 billion, Namibia records high trade shortfalls, Simonis Storm Securities economist Theo Klein

Staff writer Namibia recorded a trade deficit in each month so far this year, averaging a monthly trade deficit of N$3.4 billion.Simonis Storm Securities economist Theo Klein says the shortfall would not only have a negative impact on the 2022 GDP calculation based on the expenditure approach, but it would also contribute to a worsening current account balance.“Indeed, preliminary figures from Bank of Namibia (BoN) show a current account deficit of N$7.3 billion in the first quarter of 2022 compared to a deficit of N$3.4 billion in the first quarter of 2021. BoN expects foreign currency reserves to decrease by…

08 Aug

Venaani, PM in housing tussle

info_e12wt4csNational NewsMcHenry Venaani has questioned Prime Minister Saara Kuugongelwa-Amadhila, PM in housing tussle, Popular Democratic Movement leader, Venaani

Martin Endjala Popular Democratic Movement leader, McHenry Venaani has questioned Prime Minister Saara Kuugongelwa-Amadhila’s response to the 891 houses that remain unoccupied. The Prime Minister cited court challenges for the delay in the allocation of the houses, when addressing a Swapo campaign rally at Swakopmund at the weekend. However, Venaani refused to accept this as an excuse, saying government should look at alternatives to resolve the hold-up while the court dispute is ongoing. He suggested that a new contractor be brought in to complete the houses in view of the pressing housing backlog. “The Prime Minister has said nothing, I…

08 Aug

Commonwealth parliaments urged to digitize

info_e12wt4csNational NewsCommonwealth parliaments urged to digitize, SOCATT seminar held in Windhoek, Society of Clerk-At The Table\

Martin Endjala The Society of Clerk-At The Table standing committee has been urged to quickly move in implementing the digitalization project of parliaments across the Commonwealth countries in Africa in order to keep pace with global trends. National Council MP Gerhard Shiimi made this call during the last day of SOCATT seminar held in Windhoek last week. “Now is the time to invest in ICT infrastructures, it is a technological imperative that cannot be avoided nor ignored. It must not only be of good intention but it must be executed,” Shiimi stated. He went on to appeal to SOCATT to…