Theo Mberirua

05 Sep

MTC aims to raise N$3.5 billion in share offer

ObserverObserver MoneyMOBILE Telecommunications Company (MTC), MTC’s board chairperson, Theo Mberirua

MOBILE Telecommunications Company (MTC) intends raising between N$3 and N$3.5 billion by offering a total of 367,5 million ordinary shares to the public during its public offer, the company announced on Friday. Highlighting government decided to list MTC, Minister of Public Enterprises, Leon Jooste says: “The first objective was to develop the country’s financial sector. The financial sector is critical to the economic development. Currently a significant amount of savings leaves the country for investment outlets in other countries. These savings can now be invested at home in MTC. Through our pension funds and insurance policies many Namibians will now…

Govt never consulted over Air Namibia salary cuts

ObserverUncategorisedAir Namibia, Leon Jooste, Theo Mberirua

Helena Johannes and Andrew Kathindi Government says it was never consulted by Air Namibia over its decision to cut workers’ salaries by 50 percent. Public Enterprises Minister, Leon Jooste, told the Windhoek Observer that the decision to cut employees’ salaries who have not been going to work, by 50 percent, came as a surprise to him as “the Ministry was not consulted on the matter. We were not consulted on any of this.” The Minister further noted that “Air Namibia has been receiving monthly subsidies specifically for paying salaries.” This revelation comes as the national flag carrier’s plan to cut…