Observer

8234 Posts
Namfisa reinvigorates its innovative technologies
05 May

Namfisa reinvigorates its innovative technologies

ObserverNational News
Martin Endjala The Namibia Financial Institutions Supervisory Authority (NAMFISA) and its co-sponsors, GIZ and Kenya Prembly on Wednesday launched its second Fintech Square Innovation, which will be hosted on 10-11 May 2023 at the Windhoek Country Club and Resort, aimed at engaging innovators, in particular, the youth, Regulated entities, fellow regulators, and the broader public. This was announced by Namifisa’s Chief Executive Officer Kenneth Matomola who said that Fintech is a concept that became popular post the 2008 financial crisis, as this innovative technology was able to assist businesses to find innovative means to finance households and SMEs during the…
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BoN implored to reviewoutdated loan policies
05 May

BoN implored to reviewoutdated loan policies

ObserverMain
Niël Terblanché Outdated home loan policies and procedures are contributing to impoverishing Namibians from all walks of life who are still struggling with the economic devastation brought on by restrictive government regulations during the height of the Covid-19 pandemic. Advocate Richard Metcalfe in a letter addressed to the Governor of the Bank of Namibia, Johannes !Gawaxab, said he acts on behalf of numerous clients, who have been forced into a default situation on their home loans as a result of severe financial decline brought on by the Covid-19 debacle because of outdated bank policies and procedures. In the letter, Advocate…
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Notorious robbery gang had serious criminal charges pending in court
03 May

Notorious robbery gang had serious criminal charges pending in court

ObserverNational News
Niël Terblanché The five men who were killed during a shootout with members of the Namibian Police in Okahandja more than a week ago had a total of 24 charges related to serious crimes pending against them. The Deputy Inspector General of the Namibian Police, Major General Elias Mutota, in an official statement identified the five men who were killed when they started firing on a police vehicle during a high-speed chase through the streets of the garden town. According to General Mutota, Abed Andreas, also known as Koppe, Flavianus Kaluwepa Endjala, also known as Kalu, Marius Iipinge, also known…
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Esau rejects being a flight risk, says his gravesite is in Swakopmund
03 May

Esau rejects being a flight risk, says his gravesite is in Swakopmund

ObserverNational News
Stefanus Nashama Disgraced former Minister of Fisheries and Marine Resources, Bernhardt Esau, said his gravesite is already bought in Namibia, and he has no intention to run away and leave his motherland. “Even my gravesite is already bought here in Namibia, in Swakopmund. I have no reason to run away and leave my motherland. My graveside is next to my mother, my uncle, and my brother.” Esau said in his latest bid for bail. Appearing before Judge David Munsu yesterday, Esau also said he would not interfere with state witnesses or police investigations, if he is granted bail. He also…
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Namibia headed towards a sanitation disaster
03 May

Namibia headed towards a sanitation disaster

ObserverNational News
Niël Terblanché Factors such as limited access to water, resources and financing are blocking the Namibian government from providing adequate toilets and other sanitation facilities in various communities in Namibia. According to the World Health Organization and UNICEF’s Joint Monitoring Programme (JMP) 2020 data, Namibia ranks sixth for the highest rates of open defecation in the world. More than 40 percent of the nation or about one million people do not have access to proper toilet facilities and the situation is getting worse. The situation is exceptionally dire in the various informal settlements where people have no choice but to…
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Standard Bank CEO resigns
03 May

Standard Bank CEO resigns

ObserverNational News
Hertta-Maria Amutenja Standard Bank Namibia’s Chief Executive Officer Mercia Geises has resigned. Confirming the resignation, Geises said she is resigning to pursue other interests. “I just resigned to pursue other personal and professional interests nothing else,” said Geises. Geises was appointed last year on 1 May after Vetumbuavi Mungunda stepped down in April 2021. “In accordance with Paragraph 3.59 of the Listing Requirements, Shareholders are hereby advised that Mercia Geises has advised that, after seven years with the SBN Holdings Group she wishes to step down as Chief Executive and leave the Group to pursue other personal and professional interests,”…
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Labour laws must be amended to remove police power ambiguity
03 May

Labour laws must be amended to remove police power ambiguity

ObserverNational News
Martin Endjala Lawyer Kadhila Amoomo has come out strongly in support of the amendment of labour laws in the country by saying that there is an ambiguity on the power of the police when it comes to labour-related issues. “The law in its current form should be amended in order to remove the ambiguity on the power of the Namibian Police,” he said. Amoomo, during an interview with this publication yesterday said that workers often fall victim to police harassment during labour disputes and strikes. “This is a problem, as workers are supposed to exercise their rights if they feel…
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Aviation legend to visit Namibia
03 May

Aviation legend to visit Namibia

ObserverNational News
Niël Terblanché Enthusiasts from the Namibian civil aviation community are all set to welcome Kerry McCauley, an American ferry pilot who has flown light aircraft all over the world in his extensive career during a fly-in event that will be hosted at Lapa Lange for the next few days. McCauley is credited with delivering aircraft of all shapes and sizes to more than 60 countries while flying over vast stretches of the earth’s surface whether it be ocean or land. His adventures were immortalized in the book ‘Ferry Pilot’ and he also starred in a Discovery Channel series ‘Dangerous Flights’.…
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Grootfontein Council in court over unpaid invoices
03 May

Grootfontein Council in court over unpaid invoices

ObserverNational News
Hertta-Maria Amutenja The Grootfontein Town Council has been dragged to court by a solid waste disposal company, Frontier Multi Industries (FMI) for allegedly refusing to pay N$ 1.8 million due to the company. According to documents filed in the Windhoek High Court, in November 2021 the council and FMI entered into an agreement for the solid waste company to provide solid waste and disposal services for a period of three years to the council. The two also agreed that the council would make payments for the services,30 days after the invoices were submitted. FMI is claiming that the council failed…
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Credit improvement needed to grow economy
03 May

Credit improvement needed to grow economy

ObserverNational News
Martin Endjala Although the country’s economic recovery is in its early stages, credit growth will have to improve in order to support improved economic growth rates going forward. According to Economist Theo Klein, a myriad of other factors also needs to change in order to support higher growth, but prolonged negative real credit growth can limit growth. “Various factors would likely also have to change, whether it’s the mathematics behind internal models used to assess credit risk by banks or local businesses and entrepreneurs coming forth with better ideas that are bankable,” he said. Klein does not foresee higher interest…
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