Ministry of Finance

Health ministry makes double payments to suppliers
02 Jul

Health ministry makes double payments to suppliers

ObserverNational News, , , ,
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…
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Govt raises only N$189 million from hake auction
01 Jun

Govt raises only N$189 million from hake auction

ObserverObserver Money,
Andrew Kathindi Government has only raised N$189 million from a hake auction in which a potential N$462 million was targeted, the Ministry of Finance has revealed. The wet and frozen hake was auctioned off for Government’s quotas for its governmental objectives on 16 April. “Of these funds N$183.9 million have already been deposited into the State Revenue Fund at the Bank of Namibia, and the balance of N$6 million will be settled next week,” a joint statement by Finance Minister, Iipumbu Shiimi, and newly appointed Fisheries Minister, Derek Klazen, reads. This is the Government’s second auction of its fishing quotas…
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Govt targets N$183m in new fish quotas auction
21 May

Govt targets N$183m in new fish quotas auction

ObserverObserver Money,
Rose-Mary Haufiku The Ministry of Finance, together with the Ministry of Fisheries and Marine Resources, plan to raise N$183.75 million in a new round of governmental objective fish quota auctions. The auction is part of efforts to raise additional funds for Government activities. The allocation is split 60 percent (52, 500MT) horse mackerel freezer and 40 percent (35 000MT) horse mackerel wet, with the reserve price per metric ton set at N$3000 and N$750 for freezer and wet respectively. Bids according to the Ministry of Finance must be in multiples of 100 metric tonnes, and bidding entities should quote a…
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Understanding the difference between the Ministry of Finance functions and NamRA
07 May

Understanding the difference between the Ministry of Finance functions and NamRA

ObserverUncategorised,
Tonateni Shidhudhu History was made on 07 April 2021 when the Namibia Revenue Authority (NamRA) opened its doors for business.  The new entity takes over the responsibilities of the Inland Revenue Department and the Customs and Excise Directorate, both of which fell under the Ministry of Finance. These two departments were not only the largest but were the only ones with a regional footprint. Some 1300 staff members will move to the new entity and only about 400 will remain with the Ministry of Finance. Furthermore, assets, business systems such as ITAS and AsycudaWorld and other infrastructure which were supporting the departments have now been…
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Govt eyes N$105 million from new quotas auction
27 Mar

Govt eyes N$105 million from new quotas auction

ObserverUncategorised, , ,
Andrew Kathindi The Ministry of Finance together with the Ministry of Fisheries and Marine Resources are expected to raise around N$105 million in a new round of governmental objective fishing quotas auctions. The auction, which is meant to raise revenue for Government expenditure with a deadline for the 16th of April, has set a minimum price of N$6,000 per metric tonne. According to the Ministry of Finance, the bids will be placed on 11,164 metric tonnes of Wet Hake and 4,784 metric tonnes of Freezer Hake, both of which are targeted at 50 percent for Namibians, and the remaining 50…
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PSEMAS audit still on-going
29 Sep

PSEMAS audit still on-going

ObserverObserver Money,
Staff Writer The Ministry of Finance says the audit process of the Public Service Employee Medical Aid Scheme (PSEMAS) launched last year is still on-going, with 75 percent of the main members and 95 percent of dependents having been verified as part of measures to reduce fraud and abuse of the government employee’s medical fund. The member audit comes as media reports attributed to the International Monetary Fund (IMF) revealed the medical aid fund has been losing close to a billion dollars annually to fraud, abuse, waste and collusion. “During the first phase of the verification 95 percent of dependents…
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Twaloloka residents to receive houses by October
25 Sep

Twaloloka residents to receive houses by October

ObserverObserver Money, , ,
Helena Johannes Information minister, Peya Mushelenga has announced that Cabinet has given the municipality of Walvis Bay until the last week of October to ensure the occupation of housing units which were allocated to Twaloloka beneficiaries. Mushelenga said Cabinet has mandated the Ministry of Urban and Rural Development to oversee the implementation of the relocation of programme, supported by the Walvis Bay municipality and the office of the Governor of the Erongo Region. “The Cabinet is in line with sourcing of service providers on an emergency basis to implement the project, while the beneficiaries would contribute to the construction of…
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Finance ministry struggles with ITAS registration
18 Sep

Finance ministry struggles with ITAS registration

ObserverObserver Money
Helena Johannes The Ministry of Finance has only managed to register 24 percent out of its 90 percent target of registered tax payers for its Integrated Tax Administrative System (ITAS), Windhoek Observer can reveal. According to the Ministry only 98,959 out of 369,509 taxpayers have registered through ITAS. Demographically the registrations are: Windhoek (27 percent), Walvis Bay 23,490 out of 103,998 (23 percent), Oshakati 17,199 out of 102,524 (17 percent), Otjiwarongo 12,031 out of 55,794 (22 percent), Keetmanshoop 11,319 out of 49,870 (23 percent), Katima Mulilo 4,037 out of 12,971 (31 percent) and Rundu 3,980 out of 28,491 (14 percent).…
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COVID saves Gvt millions in allowances
15 Sep

COVID saves Gvt millions in allowances

ObserverObserver Money, ,
Staff Writer The restriction on travel by government officials due to the outbreak of COVID-19 has saved government million in travel allowances, amid revelation only 7.1 percent of the allocated amount of N$222. 8 million for the 2020/21 financial year has been spent. According to Ministry of Finance figures, Daily Subsistence Allowance (DSA) has only gobbled N$15.8 million for the period April 2020 to August 2020, compared to N$116.9 million for the same period last year. This comes as it emerged that most of the travel conducted during the period was COVID-19 related, with the bulk of the allowances paid…
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Church tax still under consideration
21 Aug

Church tax still under consideration

ObserverObserver Money, ,
Andrew Kathindi Ministry of Finance says plans to tax churches remains under considering two years on, with Finance minister Iipumbu Shiimi still to pronounce himself on the way forward. This comes after then finance minister Calle Schlettwein had stated in 2018 during his Budget Speech plans to probe Section 16 of the Income Tax Act to include taxing religious organisations such as churches. “The proposal is still on the cards but not yet tabled to parliament as consultation with the new Minister on this particular amendment is yet to be done,” finance ministry spokesperson, Tonateni Shidhudhu told the Windhoek Observer.…
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