Page 998 – News Stand

31 May

ANIREP makes acquisitions

info_e12wt4csUncategorisedAlpha Namibia Industries Renewable Power Limited (ANIREP), Namibia Stock Exchange

Staff Writer Namibia Stock Exchange listed Alpha Namibia Industries Renewable Power Limited (ANIREP) has announced that it’s in the process of acquiring stakes in two renewable energy projects in Namibia. The company has targeted a 70 percent stake in a 10 MW solar power plant commissioned in 2015 and 2016 connected to the national grid through two 5MW solar PV with a 25 year power purchase agreement contract. The company’s second planned acquisition is an 80 percent stake in a contracting company which has installed about 100 MW of the 150 MW solar PV in Namibia. “In February 2020, shareholders…

31 May

MTC voted Most Admired Brand in Namibia

info_e12wt4csUncategorisedBrand Africa, Most Admired Brand in Namibia, Mshasho, MTC, Namibia Breweries Limited

Staff Writer MTC has been voted the Most Admired Brand in Namibia in a survey to determine which companies are held in high regard by the public. The announcement, which included Namibia for the first time, was made by Brand Africa. MTC leads the local listing that included Mshasho at #2 and Top Score at #3. Namibia Breweries Limited was recognised as the most admired brand listed on the Namibian Stock Exchange. Mshasho was recognized as the #1 African brand in Namibia ahead of South Africa’s MTN and DSTV, with local stalwart brands Windhoek Lager and MTC rounding off the…

31 May

PAY lends helping hand during Covid-19 crises

info_e12wt4csObserver MoneyCovid-19, FirstRand Namibia Foundation CSI, Physically Active Youth (PAY)

Staff Writer Physically Active Youth (PAY) has reach a total of 353 people in 55 households with food and toiletry packages as part of their outreach program carried out during the Covid-19 lockdown. “The support and resources to power this project are drawn from both corporate and individual support as well as local and international support. We are grateful for the support we received towards our community outreach programme that has ensured the continued engagement and reach of our beneficiaries and their families,” Thuba from PAY said. Revonia Kahivere, FirstRand Namibia Foundation CSI Manager expressed her gratitude that PAY has…

29 May

A budget of hopes and wishes

info_e12wt4csNational Newsfinance minister Ipumbu Shiimi, State of Emergency

At the end of the day, a budget is only words on paper. One cannot spend a budget. Government has once again laid out what it wishes to spend in a fiscal year vs what it hopes will be income in that same year. In saying this, we do not in any way denigrate the hard work of Finance Minister Ipumbu Shiimi’s team. That man should be nominated for the war medal given to soldiers who take wounds in service of their country. He stood calmly before the august house and laid out the largest deficit budget a free Namibia…

29 May

Govt imposes lockdown on Walvis Bay

info_e12wt4csObserver Moneypresident Hage Geingob, Walvis Bay

...as the country moves to Stage 3 Andrew Kathindi Visitors and residents of Walvis Bay are now stuck in the coastal town for the next seven days after government in a surprise move placed the coastal town under Stage 1 of the lockdown effective Thursday. The developments follows a 63-year-old Walvis Bay fisherman and a 47-year-old male truck driver becoming recent national COVID-19 cases and means only essential workers with permits will be allowed to leave the town during the imposed lockdown. Minister of Health and Social Services, Kalumbi Shangula said that implemented measures were aimed at preventing the further…

28 May

Bank Windhoek donates 500 Reagent Testing Kits

info_e12wt4csUncategorisedBank Windhoek, Covid-19

Staff writer Bank Windhoek has donated 500 Reagent Testing Kits and Nasopharyngeal Swab Collection Kits to the Namibian Government in support of its fight against COVID-19. The Bank’s Executive Officer of Marketing and Corporate Communication Services, Jacquiline Pack, handed over the donation to the Minister of Health and Social Services, Dr Kalumbi Shalunga, at the Namibia Institute of Pathology’s (NIP) head office in Windhoek. Through the Analytical Technology and Chemical Supply, the Bank, in collaboration with NIP, was able to procure the material despite logistical challenges posed by the pandemic. “Since COVID-19 reached our borders, we realised that there was…

28 May

Jealousy clouds the point

info_e12wt4csNational NewsNamibians

We have regularly commented on the current flawed process of Members of Parliament (MPs) disclosing a part of their assets to the public. The point of this disclosure is to identify conflicts of interest in matters before the legislature. A public listing of assets of lawmakers is irrelevant if not used specifically and only for that purpose. The point is to stop decision-makers, like the accused Esau or Shanghala, from voting on laws with outcomes that pad their pockets. We must keep our eyes on the prize and stop getting lost in how many cars or houses are owned by…

28 May

Beer, wine drinkers to pay more

info_e12wt4csObserver MoneyBeer, Iipumbu Shiimi, Minister of Finance

Staff writer Wine and beer lovers who have been unable to purchase or consume their alcoholic beverages of choice as a result of state of emergency regulations will face higher prices for their drinks of choice on June 3rd when stage three of the post-pandemic re-opening of Namibia begins. This comes after Minister of Finance, Iipumbu Shiimi, on Wednesday announced the 2020/2021 budget containing additional ‘sin taxes’ on alcohol and tobacco to raise money for depleted state coffers. This will be of interest to those that have been unable to purchase alcohol since the nation went into the state of…

28 May

Nam students unpaid in Cuba amidst pandemic

info_e12wt4csObserver MoneyMinistry of Health and Social Services (MOHSS), Namibian medical students, University of Havana (Universidad de Sciencias Médicas)

Andrew Kathindi Namibian medical students at the University of Havana (Universidad de Sciencias Médicas) have lamented the non-payment of their monthly allowances by the Ministry of Health and Social Services (MOHSS) amidst the global COVID-19 pandemic. There are 238 students involved in this situation. According to several students at the University who choose to speak out anonymously, they last received a stipend late in March, which was supposed to cover only February and March. The students are supposed to receive a monthly stipend of US$350 paid quarterly. “They paid for two months only at the rate of US$1=N$14.7 (February’s rate).…

28 May

Shiimi announces N$64.3 billion budget

info_e12wt4csObserver Moneybudget, Covid-19, Finance minister Iipumbi Shiimi

Staff Writer Finance minister Iipumbi Shiimi on Wednesday announced a N$64.3 billion budget, where he projected the domestic economy to contract by 6.6 percent in real terms this year. “The 2020/21 Appropriation Bill amounts to N$64.3 billion. A total of N$8.4 billion, or 16.4 percent of revenue, is earmarked for the payment of interest payable on moneys borrowed. This amount is deemed to have been appropriated. Therefore, the total expenditure, including interest payments, for the 2020/21 financial year, amounts to N$72.8 billion,” he said. “The contraction may as well linger on in 2021 at a moderate rate of 1.1 percent,…