info_e12wt4cs – Page 558

17 Nov

Over-profitable Namibian banks pose a vexing dilemma: Venaani

info_e12wt4csNational News

Stefanus Nashama McHenry Venaani, the Leader of the official opposition and head of the Popular Democratic Movement (PDM), has expressed concern about the excessive profits earned by banks in Namibia and the broader Sub-Saharan African region, stating that it presents a challenging issue. In his statement yesterday, Venaani emphasized that while banks are expected to generate profits to contribute to economic growth and stability, the exorbitant profits accumulated by Namibia’s banking sector exacerbate economic imbalances. “At the heart of a thriving economy lies the importance of bank profitability, which drives economic growth and stability. However, this should not be confused…

17 Nov

LPM financial support comes from party members and business people

info_e12wt4csNational NewsLPM financial support comes from party members and business people

Stefanus Nashama Explaining their financial sources, the Landless People’s Movement (LPM) says the party has strong financial support from members and business personalities. “Our financial support comes from our party members and business people who sympathise with us,” the party revealed. Speaking at a press conference yesterday in Windhoek, the Party Leader, Bernadus Swartbooi, explained that, in 2019, the Party ran a successful campaign without any cent from the government. This is in response to questions raised by members of the public, that the party spends money on buying vehicles. Swartbooi explained that LPM, as a political party, requires vehicles…

17 Nov

Revised National Resettlement Policy must benefit all communities

info_e12wt4csNational News

Niël Terblanché The recently revised National Resettlement Policy in Namibia is geared towards achieving equity in land redistribution to alleviate poverty. The revised National Resettlement Policy was approved by the Cabinet in May of this year and will be in effect from 2023 to 2033. It replaces the 1991-2001 National Resettlement Policy and incorporates resolutions made during the second land conference held in 2018, which emphasized the issue of landlessness resulting from dispossession and the inability to maintain resettlement farms due to a lack of resources after acquisition. Concerns have, however, arisen regarding the criteria for qualification under the program,…

17 Nov

Former GIPF CEO takes the reigns at the Capricorn Group

info_e12wt4csNational NewsFormer GIPF CEO takes the reigns at the Capricorn Group

Martin Endjala The former Chief Executive Officer of the Government Institutions Pension Fund (GIPF), David Nuyoma, has been appointed as the new Capricorn Group Chief Executive Officer, effective Designate from 1 January 2024 and as substantive Group CEO with effect from 1 March 2024, subject to regulatory approval. The Capricorn Group Chairman Gerhard Fourie, while announcing the news this week, described Nuyoma as an experienced and accomplished executive leader with a successful track record as CEO of the GIPF until recently and before that as CEO of the Development Bank of Namibia, making him the ideal leader for the Group…

17 Nov

GRN allocates N$1.7 billion more for salary increases

info_e12wt4csMainGRN allocates N$1.7 billion more for salary increases

Niël Terblanché The Office of the Prime Minister has announced a comprehensive salary and benefits increase for civil servants across Namibia. The announcement was made following negotiations with the Namibia Public Workers Union (NAPWU) and the Namibia National Teachers Union (NANTU). Secretary to the Cabinet, Dr. George Simataa, unveiled the details of the agreement. The increase is expected to cost the Namibian taxpayers approximately N$1.7 billion annually. Under the new agreement, civil servants falling within job grades 15 to 14 will receive a flat increase of N$600, while those in grades 13 to 1 will see a five percent rise…

16 Nov

A New Era Beckons as NFA Nears Election Day

info_e12wt4csSportsA New Era Beckons as NFA Nears Election Day

The Normalization Committee (NC) of the Namibia Football Association (NFA) is poised to hand over the reins to a new leadership on Friday, marking the culmination of their mandate. The NC, acting as the electoral committee, is diligently preparing for the elections slated for November 17, a crucial step in the association's journey towards a fresh chapter.The NC's primary focus lies in completing its final tasks, acting as the electoral committee and overseeing the elections of the new leadership. In a previous media release, the NC disclosed that a significant majority, surpassing 75 percent of the members present, accepted the…

16 Nov

North-East First Division Stream to be led by Interim Executive Committee at NFA Elective Congress

info_e12wt4csSportsNorth-East First Division Stream to be led by Interim Executive Committee at NFA Elective Congress

The North-East First Division Stream elected an interim executive committee, in Rundu, just a weeks before the much-anticipated Namibia Football Association (NFA) elective congress. This development follows a petition from 10 out of the 12 clubs within the division, urging the NFA to commission elections amid a deadlock between the second division's league members and its leadership during a consultative meeting on October 7 in Rundu.Haindongo Agripa, the Chairperson of Rundu Chiefs Football Club, emerged as the stream's interim chairperson, supported by Benediktus Munango of United Stars as the deputy chairperson. Other committee members include Johannes Ndeutapo of Omuthiya United…

16 Nov

Local companies lack the capacity to produce police uniforms

info_e12wt4csNational NewsLocal companies lack the capacity to produce police uniforms

Stefanus Nashama In responding to questions concerning the procurement of uniforms for the Namibian Police last week, it was revealed that there are no local factories that sell or produce materials with the quality of police uniform standards. According to Deputy Commissioner Kauna Shikwambi, the National Spokesperson of the Namibian Police, it is for that reason that the force has to procure uniform materials from outside the country, “Be informed that all uniform materials are procured outside the country, as there are no local factories to sell or manufacture the said materials,” Shikwambi said. This is despite other uniform pieces…

16 Nov

Chinese national banned from entering Namibia returned twice in 2023

info_e12wt4csNational NewsChinese national banned from entering Namibia returned twice in 2023

Hertta-Maria Amutenjna Chinese national, Jiaming Li, who has been deported from Namibia on two separate occasions, has attempted to enter the country illegally twice. In his latest attempt, he took the Ministry of Home Affairs, Immigration, Safety, and Security to court for refusing him entry into the country. However, he has now withdrawn the case. Documents filed at the Windhoek High Court reveal that Li’s legal troubles began with his first conviction in September 2022 for conducting business in Namibia without a proper residence permit. This led to his initial deportation in the same month, accompanied by a prohibition from…

16 Nov

CoW won’t be able to supply electricity effectively

info_e12wt4csNational NewsCoW won’t be able to supply electricity effectively

Martin Endjala The Electricity Control Board (ECB) has warned that the City of Windhoek (CoW) which is the current distributor of electricity in the Khomas Region will not be able to continue to effectively and efficiently distribute electricity supply in the region in years to come. To prepare for such scenarios, ECB’s Chief Executive Officer, Robert Kahimise, says that due to already small profit margins that are always decreasing, there is a need to consolidate the distribution assets, in this case, into a Regional Electricity Distributor (RED) sort of a model. A RED is said to be on the cards,…