Page 800 – News Stand

02 Jul

Namibia’s Rating Downgrade: What does it mean for Namibia? – By Josef Kefas Sheehama

info_e12wt4csOpinionsFitch Ratings (Fitch) downgraded Namibia, Namibia’s Rating Downgrade: What does it mean for Namibia? – By Josef Kefas Sheehama

Fitch Ratings (Fitch) downgraded Namibia’s long-term foreign currency credit rating to BB- and changed the outlook from negative to stable on Friday, June 24. This reflect high and rising government debt and exacerbated by the economic shock. A downgrade means that when Namibia needs to borrow more money, as it inevitably will, investors will demand a higher interest rate because of the lower creditworthiness of the country. This will translate into higher interest costs which leave less money to be spent on running and developing the country. Successful economic policy requires that priority be given to interventions which offer the…

02 Jul

Swapo won’t betray liberation friends: Geingob

info_e12wt4csNational NewsChina, Cuba, Swapo Party President Hage Geingob, Swapo won't betray liberation friends: Geingob, Tanzania and Russia

Obrein Simasiku Swapo Party President Hage Geingob has come out strongly against those expecting Namibia to turn its back against Russia in its fight against Ukraine. ‘’Namibia will not betray its' liberation friends, because it values the help extended to it during the struggle to liberate the country from the apartheid regime,’’ Geingob stated emphatically. "Today we have our liberation friends here, represented by ambassadors from China, Cuba, Tanzania and Russia. This shows these are the people who were there for us and where it all started in the liberation fight, leading to how we won our independence. Although Zambia…

NamRa tax fraud increases to N$36 million<br>…10 criminal cases registered

02 Jul

NamRa tax fraud increases to N$36 million
…10 criminal cases registered

info_e12wt4csNational News90-day investigation, N$36 million, Revenue Agency (NamRA), Sam Shivute

Obrein Simasiku About N$36 million has been discovered through a high level 90-day investigation to have been defrauded from the Namibia Revenue Agency (NamRA) through provisional tax refunds, a double increase from the N$15 million announced earlier in March, before the agency moved to effect a moratorium on refunds in an effort to crack down on fraudsters. The moratorium has however been lifted as of today, according to NamRa's commissioner Sam Shivute, who said the agency is now working towards cracking down on those involved and recoup the misappropriated millions. The investigations began in March when it was discovered that…

02 Jul

Health ministry makes double payments to suppliers

info_e12wt4csNational NewsAuditor General, Health ministry makes double payments to suppliers, Junias Kandje, Ministry of Finance, Ministry of Health and Social Services

Staff Writer Auditor general, Junias Kandjeke, found that the Ministry of Health and Social Services has made payments to suppliers amounting to N$155 533.28 during the 2020/21 financial year. According to a report compiled by the Office of the Auditor General on double payments made 24 duplicate payments to different suppliers during the year under review. “The Accounting Officer indicated that double payments were as a result of multiple supplier codes allocated to individual suppliers. Nevertheless, the Ministry has started to engage the Ministry of Finance to clean up the system on double supplier accounts on the data base,” read…

02 Jul

NCA beef and meat products find market in Ghana

info_e12wt4csNational NewsNCA beef and meat products find market in Ghana, Northern Communal Areas (NCA)

Staff Writer Meatco’s first consignment of the Namibian beef from the Northern Communal Areas (NCA) has arrived at Tema Port in Accra, Ghana. Executive Director of the Ministry of International Relations and Cooperation Penda Naanda said the ministry continues to enhance its economic diplomacy and create market access for Namibian products. “In this context, the Ministry is pleased to announce that, Meatco’s first consignment of the Namibian beef from the Northern Communal Areas has arrived at Tema Port in Accra- Ghana. The meat is being imported by the Abanga Farms and Food Systems, a Ghanaian company that has signed a…

02 Jul

MWT distances from NABTA factional squabbles

info_e12wt4csNational Newse Muunda faction, John Mutorwa, MWT distances from NABTA factional squabbles, Nakathingo faction, Namibia Bus and Taxi Association

Martin Endjala The Ministry of Works and Transport has distance itself from the Namibia Bus and Taxi Association ongoing factional leadership squabbles and would not favour one over the other. Minister John Mutorwa said in his ministerial statement in the National Assembly that they are not in a position to choose between the Muunda and Nakathingo factions, as to which one is authentic. Referring to Namibia’s Constitution, Mutorwa said that all persons have the right to freedom of association, which includes forming or joining associations or unions. The minister informed the house that on 15 June 2022, he received a…

01 Jul

Tweya questions Hambukushu treatment

info_e12wt4csNational NewsBwabwata National Park, e Parliamentary Standing Committee on Constitutional and Legal Affairs, Hambukushu, Tjekero Tweya, Tweya questions Hambukushu treatment

Martin Endjala Swapo backbencher and member of the Parliamentary Standing Committee on Constitutional and Legal Affairs, Tjekero Tweya questioned why only the Hambukushu people cannot access the Bwabwata National Park. According to a Cabinet decision no domesticated animals are allowed in the national park. The Hambukushu people submitted a petition to the National Assembly on 19 November 2021calling the National Assembly to revisit the Cabinet decision of 1999; that no cattle beallowed in Bwabwata National Park or any other Game Park in the North-East among others. “Why is it that in other game parks animals are allowed and even those…

01 Jul

Community activist appointment to LRAC causes heated debate

info_e12wt4csNational NewsAgricultural Bank of Namibia, Community activist appointment to LRAC causes heated debate, Minister of Agriculture, Water and Land Reform to the Land Reform Advisory Committee

Martin Endjala The appointment of one of the nominees of the Minister of Agriculture, Water and Land Reform to the Land Reform Advisory Committee was the cause of another division across party line in the Namibian Assembly. Ministe Carl Schlettwein’s proposal of Jan Jarson indicated in his CV as a community activist and a former Swapo regional councillor was opposed by some opposition benches. Another, issue being questioned in his CV is the lack of relevant academic qualifications as well as him putting down the names of two Swapo governors as reference, which led to a heated debate in this…

01 Jul

Rising interest rates putting squeeze on economy

info_e12wt4csNational NewsBank of Namibia (BoN), Rising interest rates putting squeeze on economy, Simonis Storm economist, Theo Klein

Tujoromajo Kasuto Analysts expect interest rates going up by another 100 basis points or one percent before the end of the year sending home and vehicle repayments through the roof. The Bank of Namibia (BoN) is expected to raise it repo rate that will hike the interest rates from 9.5% and 10.5% to 10.5% and 11.5% respectively by the fourth quarter of 2022. According to Simonis Storm economist, Theo Klein this would place indebted households and corporates in a worse financial position given that mortgages constitute the largest component total household and corporate debt. He added that also corporates battling…

01 Jul

Oshikoto farmers still facing water shortages

info_e12wt4csNational NewsEengodi and Nehale Lya Mpingana, Eengodi and Okankolo Constituencies, Nehale Lya Mpingana, Nehale Lya Mpingana Constituency, Oshikoto farmers still facing water shortages

Obrein Simasiku Oshikoto residents living in the remote areas are unable to access water because of reduced water pressure. The residents are deprived of water for weeks, especially those living in the villages of Eengodi and Nehale Lya Mpingana constituency, while those living in the areas of Casablanca rely on boreholes. "Water is a critical resource for economic growth and a better life. By 2016 already, the Namibia Demographic Survey indicated that the region had coverage of 93% of households with safe drinking water, however, the pipeline water pressure in most areas is too low," said Oshikoto governor Penda Ya…