Page 943 – News Stand

04 Mar

Sustainable finance, a catalyst for Namibia’s recovery

info_e12wt4csUncategorisedCovid-19, Standard Bank

Marco Triebner The Covid-19 pandemic has heightened the focus on climate change and financial instruments that promote sustainable economic development. The pandemic has impeded Namibia’s growth and demanded new approaches to economic development. It has also highlighted the importance of sustainability and environmental, social and corporate governance (ESG) issues. It is noted that pressure is building on financial institutions and non-banking financial institutions, asset managers and corporates to give more attention to environmental, social and governance (ESG) issues in their day-to-day operations. We believe that Namibia is primed for a sustainable finance boom, given its potential in the renewable energy…

04 Mar

FNB Klein Windhoek to close, other great opportunities for customers

info_e12wt4csUncategorisedFNB Namibia

FNB Namibia has announced it would close the Klein Windhoek branch, effective 13 March 2021. “After examining branch profitability through our strategic planning review, we decided it was prudent to close a number of our branches throughout 2021. This approach is based on branches becoming less profitable, while the offer of additional electronic services has enhanced operating efficiencies. Our customers have adapted to all our electronic options and we are optimistic that we will retain our customer relationships because of these online and mobile banking services,” said Rodney Forbes, FNB Executive Officer: Points of Presence. Forbes added that there was…

04 Mar

11 convicted for violating COVID -19 regulations

info_e12wt4csObserver MoneyCovid-19, Namibian Correctional Services (NCS)

Kandjemuni Kamuiiri According to Namibian Correctional Services (NCS), only eleven people have been convicted for violating the COVID -19 state of emergency regulations since their enactment. Commissioner of NCS, Meunajo Tjiroze, said the eleven are individuals that were sentenced by the courts, with the Namibia Police Force having arrested 795 suspects for the period March 2020 until January 2021. “Many people are not adhering to the Covid-19 regulations, this comes in as Shikongo announced that a significant number of people are paying the N$2000 fine through admission of being guilty for breaking the Covid-19 regulations,” said Namibia Police Force Commissioner,…

04 Mar

Govt to strip CPBN chairperson of powers

info_e12wt4csObserver MoneyCentral Procurement Board of Namibia, Patrick Swartz

Andrew Kathindi Government is proposing changes in the structure of the Central Procurement Board of Namibia’s (CPBN) Board, a development which will strip current Chairperson, Patrick Swartz, and his deputy’s powers when amendments into the Public Procurement Act, Act No. 15 come into effect. The amendments, which according to the Ministry of Finance are to strengthen governance issues around the CPBN, will see Swartz and his deputy, Lischen Ramakhutla, no longer with administrative powers if they opt to retain their current positions after the amendments. Swartz was embroiled in a recruitment scandal in May last year involving 14 employees, most…

03 Mar

Energy ministry lifts licence moratorium

info_e12wt4csObserver MoneyMinistry of Mines and Energy

Staff Writer The Ministry of Mines and Energy on Tuesday announced the lifting of its temporary suspension on the issuing of fuel retail site and wholesale licenses. The Ministry last July effected the suspension, citing an oversupply of service stations in the country. The move was aimed at reviewing existing procedures and requirements for securing a fuel retail site and wholesale license. “The Ministry has reviewed the licencing procedures and requirements for granting fuel retail and wholesale licences, as provided for in the Petroleum Products and Energy Regulations, of 2000. This includes new application forms and conditions for the granting…

03 Mar

NamWater seeks its N$1.5 billion

info_e12wt4csObserver MoneyKatima Mulilo, NamWater Chief Executive Officer, Zambezi

Andrew Kathindi NamWater has revealed that it’s owed N$1.5 billion nationally, with local authorities being the largest debtors. NamWater Chief Executive Officer(CEO), Abraham Nehemia, told Windhoek Observer that some of the debts owed to them are backdated by nearly ten years.“I have written all of them letters. It's a demand letter waking up the other party to honour their obligations,” he said. The NamWater CEO further refuted claims that the lack of water in Katima Mulilo in the Zambezi region was a result of NamWater disconnecting the local authority. “There was a misrepresentation of facts in Katima. We have a…

03 Mar

Residents owe CoW N$1 billion

info_e12wt4csObserver MoneyCity of Windhoek, Covid-19, Job Amupanda

Andrew Kathindi The City of Windhoek’s (CoW) debts currently stand at around N$ 1 billion, Mayor, Job Amupanda, has revealed on Tuesday. The debt, according to the Mayor, was around N$800 to N$900 million in early 2020, and moved to slightly above N$1 billion when COVID-19 hit to slightly below a billion when restrictions eased. “The City has not been spared by the negative impact of COVID-19, and our debts has drastically increased by N$150 million since the state of emergency was first announced in March 2020. At that point and time, we could not disconnect services for our residents…

02 Mar

The New Normal: Cyber Security During COVID-19

info_e12wt4csUncategorisedCovid-19, Government Institutions Pension Fund (GIPF)

Martin Hamukwaya The Government Institutions Pension Fund (GIPF) has in recent years increased the shift and reliance in the use of information technology for our staff and members. When the COVID-19 pandemic reached Namibia and subsequently invoked the lockdown, it encouraged the use of many other effective ways the Fund can offer services to our members from the comfort of their homes. This effectively changed the way we operate at GIPF, which now translated into “The New Normal”. The “New Normal”, provides our members with assurance that they will be attended to without necessarily having to visit any of the…

02 Mar

Driving the value-add agenda on a budget

info_e12wt4csUncategorisedbudget, Driving

Eli Gentle After the deal closes, what next? Go create value! Depending on the context, you may suddenly find yourself behind the wheel of a large, urgently needed change program (e.g., digital transformation) or a small, targeted intervention that no one saw coming (e.g., salesforce incentives). In many small and emerging markets, the value creation agenda (be it wide or narrow in scope) must be delivered hands-on, while staying within a shoestring budget. Two things can help you deliver on budget while sparing a few precious hours in your packed days: 1. Invest in the capabilities of your portfolio company…

02 Mar

Shangula dismisses third wave concerns …as CDC cautions

info_e12wt4csObserver MoneyCovid-19, Health and Social Services (MoHS), Kalumbi Shangula

Andrew Kathindi Health and Social Services (MoHS) minister, Kalumbi Shangula, has downplayed the probability of a third wave of COVID-19 hitting Namibia anytime soon. This comes after South African President, Cyril Ramaphosa, on Sunday warned that the, “threat of a third wave is constantly present, as is the threat of yet more new variants”. Shangula stated that he was not aware of Ramaphosa’s warning, but queried, “How can they talk about a third wave when they are relaxing all the control measures?” South Africa on Sunday relaxed some of its regulations in the control of the spread of COVID-19. The…