Observer – Page 439 – Windhoek Observer

14 Jul

“Come and invest”, Mbumba pleads with investors

ObserverNational NewsMbumba pleads with investors, Nangolo Mbumba, “Come and invest”

Martin Endjala The Vice President of Namibia Nangolo Mbumba has called on investors to come and explore what Namibia has to offer and invest, saying that it is a land with vast potential that offers trade investment opportunities in multiple sectors beyond energy. He made these remarks during the US-Africa Business Summit 2023, yesterday in Gaborone, Botswana. “With its overarching goal to enhance bilateral and multilateral trade between the United States and African nations, I would like to reiterate that Namibia is open for business and we are inviting investors who are interested in exploring the available opportunities for shared…

14 Jul

Traffic officers embroiled in a legal fight with CoW

ObserverNational NewsTraffic officers embroiled in a legal fight with CoW

Martin Endjala Officers of the City of Windhoek’s Traffic Department have locked horns with their employer, in their pursuit of justice. The traffic officers are claiming their five-year bonus leave payment, saying they have not received it yet as agreed in their employment contract of 2014. The officers signed a five-year and ten-year circle bonus leave agreement. The case was laid before the Windhoek High Court in 2020 where the court ruled in favour of the traffic officers to the entitlement of their bonus leave. The CoW opposed the ruling in an appeal, prompting a postponement in the matter. Since…

13 Jul

Namibia’s GDP growth expected to slow down

ObserverObserver MoneyNamibia’s GDP growth expected to slow down

Martin Endjala Namibia’s real Gross Domestic Product (GDP) growth is expected to slow down in 2023 and 2024, due to weaker global demand. Considering the current macroeconomic conditions, the Macroprudential Oversight Committee (MOC) deliberated and deemed it important to recommend a policy intervention on the existing Loan-To-Value ratios (LTV) regulation. Contrary to the robust growth of 4.6 percent observed in 2022, the domestic real GDP growth is projected to moderate to 3.0 percent in 2023 and is further expected to slow down to 2.9 percent in 2024. The moderation is mainly on account of global monetary policy tightening and ongoing…

13 Jul

Balance sheet growth remains strong

ObserverObserver MoneyBalance sheet growth remains strong

Martin Endjala The Namibian banking sector’s balance sheet growth has remained strong and reflects an improved liquidity position and adequate capital levels. Records show that on a quarterly basis, total assets for the banking sector grew by 5.3 percent to N$173.2 billion in the first quarter of 2023. The growth was driven by cash and balances at banks as well as net loans and advances. The liquidity ratio of the banking sector stood at 19.1 percent during the first quarter of 2023, from 17.8 percent in the last quarter of 2022, due to diamond sales, government spending, capital inflows and…

13 Jul

Critical need for a referral hospital at Otjiwarongo

ObserverNational News

Hertta-Maria Amutenja Governor of Otjozondjupa Region James Uerikua has reiterated the critical need for the Ministry of Health and Social Service to construct a referral hospital at Otjiwarongo, to help decongest the patient population at state facilities in Windhoek and in neighbouring areas. Despite a referral hospital with an intensive care unit having been planned and approved for the Otjozondjupa Region, construction of such a facility has not commenced. “There is a need for us to call upon the Ministry of Health and Social Services to build a referral hospital here in Otjiwarongo. The town is the centre of our…

13 Jul

LPM claims Motinga runs NamPower on his own terms

ObserverMainLifalaza Simataa, LPM claims Motinga runs NamPower on his own terms

Stefanus Nashama The Landless People’s Movement (LPM) has accused the NamPower Chairperson, Daniel Motinga, of running the parastatal like his private company. LPM National Spokesperson, Lifalaza Simataa, yesterday said there is a disconnect between the mandate of NamPower as a State-Owned Enterprise and that of the current chairperson. He claimed Motinga lacks understanding of how NamPower is supposed to work for the interest of the public, and because of that, he has no consideration of what happens to the general public. Motinga reportedly threatened to resign from his position, due to the constant political interference he has experienced during his…

13 Jul

Namibia is vulnerable to climate change

ObserverNational NewsNamibia is vulnerable to climate change

Stefanus Nashama The Minister of Environment, Tourism and Forestry, Pohamba Shifeta said that Namibia is amongst the countries recognized and projected to be vulnerable to climate change. According to Shifeta, the high vulnerability of Namibia is a result of its already arid weather conditions. He said that Namibia is already experiencing extreme drought, flash floods, unpredictable rainfall, and extreme temperatures because of climate change. The minister explained that these impacts increase the country communities’ exposure and the pressing social-economic challenges and further limit their ability to adapt. The country’s vulnerability to climate change is justified by the previous rainfall onset…

13 Jul

Development of Communication structures a challenge for govt

ObserverNational NewsDevelopment of Communication structures a challenge for govt

Hertta-Maria Amutenja Despite the legal and institutional frameworks put in place by the government to guide the operations of the media sector in the country, there is still a need for the development and establishment of Communication structures and a function and accountability mechanism. This is according to the Communicating for Effective Government Communication Strategy for 2022 to 2027. It is stated in the strategy that: “Although the above legal and institutional framework exists, there are obvious challenges in the way Government handles the Communication function. During the Communication Needs Assessment, it was demonstrated that there was a need for…

13 Jul

Namibia to seek investment at the US – Africa Business Summit

ObserverNational News

Niël Terblanché A high-level delegation led by Namibia’s Vice President, Nangolo Mbumba will be representing the country at the United States – Africa Business Summit in Gaborone to highlight investment opportunities in priority sectors. According to a statement issued by the Namibian Investment Promotion and Development Board (NIPDB), the country’s energy sector has become famous for its diversity and growth. In terms of oil and gas, recent significant exploration activities have led to considerable discoveries of approximately 11 billion barrels of oil equivalent that have the potential to place Namibia among the top oil and gas-producing nations in Sub-Saharan Africa.…

13 Jul

Controversial rhino hunt could generate millions for conservation

ObserverNational NewsControversial rhino hunt could generate millions for conservation

Niël Terblanché Mixed feelings about Namibia’s wildlife conservation principles have been expressed after the Ministry of Environment, Forestry and Tourism announced that it will avail an old black rhinoceros bull to the highest bidder. The country has the largest population of black rhinos in the world because of innovative conservation methods, and as a result, can afford to utilize resources to raise much-needed funds for conservation. Romeo Muyunda, the ministry’s spokesperson, said the single animal will be of a post-reproductive age and that it still has to be identified. He added that the rhino was made available for sustainable hunting…