Minister of Finance – News Stand

22 Feb

Venaani labels social income grant as an insult to elders

info_e12wt4csNational NewsIipumbu Shiimi today tabled the national budget. Presented under the them, Minister of Finance, Venaani labels social income grant as an insult to elders

Martin Endjala The Minister of Finance, Iipumbu Shiimi today tabled the national budget. Presented under the theme, “Economic Revival and Caring for the Poor”, the budget attempts to be pro-poor, a move the official opposition labels an insult. Popular Democratic Movement President McHenry Venaani has labeled the social income grant N$100 increase for pensioners, vulnerable children and disabled persons as an insult. “What the Minister of Finance did to bring elders here in the chamber parading them for N$100, while this government spend N$650 million on a condom tender is an insult to the elders it is a shame”, Venaani…

Public service wage bill to cost N$29 billion this year

info_e12wt4csObserver MoneyGovernment, Iipumbu Shiimi, Minister of Finance

Kandjemuni Kamuiiri It has emerged that Namibia will fork out a total of N$29 billion for salaries and benefits for its civil service this year, which translates into about N$2.4 billion monthly. According to the Minister of Finance, Iipumbu Shiimi, “annually we spend N$29 billion and if you divide that by 12 it would roughly be N$2,4 billion to N$2,5 billion monthly, same goes for last year. It’s more or less the same.” This revelation has raised concern whether Government could afford it considering its precarious financial position, with the minister maintaining that Government will still continue to honour bonuses,…

Namibia secures N$1.8 billion German loans

info_e12wt4csObserver MoneyGerman Ambassador, Germany, Herbert Beck, Iipumbu Shiimi, Minister of Finance, Namibia

Kandjemuni Kamuiiri Namibia and Germany on Tuesday signed a N$ 1.8 billion loan agreement, which will fund three programmes in the areas of water, infrastructure and food production. Minister of Finance, Iipumbu Shiimi, and German Ambassador, Herbert Beck, signed the agreements on behalf of their respective countries. According to Shiimi, financing will be provided by interest-reduced loans in local currency, thereby securing favourable credit conditions for the Government of Namibia. “These projects will support the development of important water and other climate related infrastructure projects in Namibia, and the promotion of agricultural households and micro, small and medium-sized enterprises through…