info_e12wt4cs – Page 575

27 Oct

Katutura residents considering legal action against CoW over debt collection

info_e12wt4csNational News

Hertta-Maria Amutenja In an escalating standoff between Katutura residents and the City of Windhoek (CoW), residents are contemplating taking legal action as they demand immediate resolution to their grievances concerning the city’s engagement with Redforce Debt Management for debt collection.The Katutura Residents Committee, representing the disgruntled residents, which comprises mostly elderly people, has expressed their dissatisfaction with the city’s debt collection approach, which involves contracting a third party to collect debts on behalf of the city.“We are also exploring legal action and have already sought legal advice from senior counsel regarding various legal aspects we can explore,” said Shaun Gariseb,…

27 Oct

Economic growth requires a robust financial system, says Prime Minister

info_e12wt4csNational NewsEconomic growth requires a robust financial system, says Prime Minister

Prime Minister Saara Kuugongelwa-Amadhila highlighted the importance of a robust financial system to support and drive Namibia’s economic growth effectively. She made these remarks during her address at the Namibia Women in Finance and Insurance Summit, held in the capital city this week. Kuugongelwa-Amadhila stressed that the financial sector plays a critical role in facilitating the transformation of the country’s economy. It not only provides financial services to individuals and businesses but also creates employment opportunities. “With a well-positioned financial system, employment opportunities are generated by various financial institutions, including banks, insurance companies, investment houses, and other financial service providers,”…

27 Oct

Convicted prophet Babi returns to court for unpaid rent

info_e12wt4csNational NewsConvicted prophet Babi returns to court for unpaid rent

Hertta-Maria Amutenja Self-proclaimed prophet and founder of House of Joy Ministries, Jackson Babi, who made headlines last year after being sentenced to ten years imprisonment for his involvement in rhino poaching, has once again found himself entangled in a legal battle. This time, it’s not wildlife crimes that have brought him to court but rather a landlord-tenant dispute over unpaid rent. Babi and his wife, Maria Babi, are currently facing legal action for allegedly failing to pay their rent, as revealed in particulars of a claim filed at the Windhoek High Court earlier this year. They are accused of failing…

27 Oct

Erongo Business and Tourism Expo energizes economic prospects

info_e12wt4csNational News

Niël Terblanché The 15th edition of the Erongo Business and Tourism Expo, hosted by the Walvis Bay municipal council, is in full swing, promising to invigorate the local and national economies. Neville Andre, the Governor of the Erongo Region, during his opening address stressed the event’s significance in bringing together Small and Medium Enterprises (SMEs) to showcase their offerings, thereby reinforcing socio-economic development and creating employment opportunities. Positioned as one of Namibia’s economic epicentres, Walvis Bay recognizes the evolving landscape of business and the need for transformative changes in both the tourism and business sectors. This annual event also fosters…

27 Oct

The working space is becoming too small for new graduates: Iipumbu

info_e12wt4csNational News

Martin Endjala The Minister of Industrialisation and Trade, Lucia Iipumbu, has expressed concern that the job market is becoming increasingly saturated for new graduates. She pointed to the need for graduates to shift away from traditional employment aspirations and consider entrepreneurship as a viable alternative. Iipumbu made these remarks during the launch of Harambean Entrepreneurship, a collaborative initiative with FirstRand Namibia and First National Bank, aimed at promoting entrepreneurship. Highlighting the high rate of unemployment in the country, Iipumbu encouraged young people to explore entrepreneurship and foster partnerships as a means to improve their lives and contribute to the economy.…

27 Oct

TAC gathers input for the preservation of retirement savings regulations

info_e12wt4csNational NewsTAC gathers input for the preservation of retirement savings regulations

Niël Terblanché In a significant move towards promoting transparency, accountability, and inclusivity, the Ministry of Finance and Public Enterprises has initiated a series of public consultations on proposed standards and regulations, including Regulation RF.R.5.10, known as the “Preservation of Retirement Savings Regulation.”According to Dr Manfred Zamuee, the Chairperson of the Technical Advisory Committee (TAC), these regulations are intended to be issued under Chapter 5 of the Financial Institutions and Markets Act, Act No. 2 of 2021. The first round of public consultations is slated to commence on November 13, 2023, and will kick off in the Kunene and Hardap Regions.…

27 Oct

Govt questioned over Cabinet decision to spend N$25m on new vehicles

info_e12wt4csMainGovt questioned over Cabinet decision to spend N$25m on new vehicles

Stefanus Nashama Lawmakers from various opposition parties in Parliament have raised concerns about the Cabinet’s decision to authorize the Ministry of Works and Transport to purchase 32 government vehicles at a cost of N$25 million for the 2023/24 financial year. This decision contradicts a moratorium put in place by the Head of State, President Hage Geingob, in 2020 to reduce unnecessary spending on government vehicles. Namibia Economic Freedom Fighters Leader Epafras Mukwiilongo submitted a notice of questions to the Speaker of the National Assembly, Peter Katjavivi, this week, indicating his intention to question the Minister of Finance and Public Enterprises,…

26 Oct

Real poverty plagues the two Kavango regions says Kauandenge

info_e12wt4csNational NewsReal poverty plagues the two Kavango regions says Kauandenge

Stefanus Nashama Joseph Kauandenge, the Secretary-General of the National Unity Democratic Organisation, lambasted the government in Parliament last week for neglecting the two Kavango regions and allowing their inhabitants to suffer in abject poverty, which, he contended, was palpable. Kauandenge stated that the poverty in the two regions is so evident that one can already smell it upon entering a town like Rundu. He accused the Swapo-led government of doing nothing to address the issue and instead turning the residents of these regions into mere “voting cows.” However, a heated debate erupted when Faustina Caley, the Deputy Minister of Education,…

26 Oct

Credit uptake remains low despite unchanged repo rate

info_e12wt4csObserver Money

Martin Endjala Despite the repo rate holding steady at 7.75 percent, corporate credit uptake remains weak due to the private sector's reluctance to borrow under the current unfavourable economic conditions, where both economic activity and interest rates fail to stimulate credit demand for businesses. Economist and Independent Bank Researcher, Josef Sheehama provided this insight in response to the Bank of Namibia's announcement yesterday regarding the maintained repo rate at 7.75 percent. "Due to market volatility, private sectors are adopting a watch-and-see attitude instead of applying for facilities to invest in businesses. They are postponing business expansion and opting to restructure…

26 Oct

Meet Bakpro Oshana Millennial Queens

info_e12wt4csSportsMeet Bakpro Oshana Millennial Queens

Bakpro Oshana Millennial Queens is a women football team which hails from Ondangwa and plays in Oshana Women regional league which just kicked off on saturday last week.This team is proudly sponsored by Bakpro as well as Ondangwa SME Youth Expo. Bakpro players spend time working at GD EVENTS & PROMOTIONS CC a company which specializes in Corporate marketing, Activations and Events management on their off days inorder for the players to be able to earn something to sustain the players and the team in general.