Windhoek Observer – Page 579 – Windhoek Observer

09 May

BoN governor fined over merger missteps

National News

Niël Terblanché The Namibian Competition Commission fined Johannes !Gawaxab, the Governor of the Bank of Namibia (BoN), and two others for failing to properly notify relevant authorities about a business transaction that violated the country's merger control regulations. The penalty, amounting to N$1 million, also shed light on !Gawaxab’s prior business dealings have continued to attract scrutiny after his ascent to one of the country's top financial posts. Before his appointment in 2020, !Gawaxab was a distinguished figure in the business sector, known for his roles across various African countries with Old Mutual and as CEO of EOS Capital, a…

09 May

34 000 applications received for national documents in three months

National News

Stefanus Nashama In just three months, the Ministry of Home Affairs, Immigration, Safety, and Security has received a total of 34,000 applications through the mass civic registration program countrywide. Services on offer during the outreach program include national documents such as birth registration for persons of all ages, applications for duplicate birth certificates, applications for identity documents, and applications for duplication of identity documents. The outreach registration program began on 5 February and will run until 30 July. Margaret Kalo, the ministry's public relations officer, said that applications for the mass civic registration outreach program will be accepted from 5…

09 May

Combating wildlife trafficking must be a collective effort – NamRA

National News

Martin Endjala Combating wildlife trafficking in Africa should not be the responsibility of one country but rather the collective responsibility of all African countries. This was said by NamRA’s commissioner, Sam Shivute, during the conclusion of the first operation that focused on wildlife trafficking targeting Africa in coordination with other customs authorities, held on Tuesday in Windhoek. “When you are fighting wildlife trafficking or international organised crimes, it does not make sense for one jurisdiction to be doing better while other jurisdictions are not doing as well as they are supposed to. It will only help us if we all,…

09 May

Walvis Bay Council puts hold on suspensions

National News

Ester Mbathera The municipal council of Walvis Bay requested the chief executive officer to put on hold the suspension of the town’s general manager for finance and the manager of finance following a council resolution on Tuesday. Frans !Gonteb and Johana Shidute were suspended on Wednesday morning to allow for a full investigation into the appointment of RedForce Debt Management CC to assist the municipality collect outstanding debt. In a letter to the acting CEO, John Esterhuizen, the mayor, Trevino Forbes, acknowledged that they had not followed the proper procedure for the suspension of the two office bearers. “The Ministry…

09 May

Katutura ratepayers threaten CoW with court action

National News

Martin Endjala Katutura Ratepayers, through their legal representative, Henry Shimutwikeni and Co. Inc., have threatened to take the City of Windhoek (CoW) to the High Court for alleged violations of the Local Authority Act. In a letter dated 8 May, seen by the Windhoek Observer, the ratepayers have given CoW the right to respond to its demands before or on 24 May. The ratepayers are accusing CoW of allegedly using the practice of estimating water usage as opposed to measuring and reading ratepayers' actual water consumption, whose rates are currently set at N$47.18 per kilolitre for domestic usage as per…

09 May

Central Namibia is facing severe water shortage

Uncategorised

Stefanus Nashama and Niël Terblanché The central part of the country is facing a severe water crisis as dam levels continue to plummet. Abraham Nehemia, the chief executive officer of NamWater, made this statement during a media briefing on Wednesday about the country's water situation at the Von Bach Treatment Plant in Okahandja. “Yes, we are facing a challenge with water in the central areas. But Namibia has to be there, and Namibia will be there. Whether it rains or not, all we need is to plan and find ways to get water,” he said. The event was organised in…

09 May

Namdock backpedals on mass disciplinary hearings

National News

Niël Terblanché In a recent turn of events, Namibia Drydock and Ship Repair (Pty) Ltd. (Namdock) has postponed its planned mass disciplinary hearings following a formidable challenge by the Metal and Allied Namibian Workers Union (MANWU), represented by Metcalfe Beukes Attorneys. The planned mass disciplinary hearings stem from the first week in April when employees of Namibia’s premier provider of marine engineering solutions downed tools in protest of the company’s decision to change their working conditions without any prior notice. Initially set for May 10 and May 13, 2024, the hearings were intended to address allegations against a total of…

09 May

Nored mum over its financials

Main

Ester Mbathera and Stefanus Nashama For years, the Northern Regional Electricity Distributor (Nored) has been leaving its shareholders in the dark by remaining mum about its financial status. Nored was established in 2001 as an electricity distribution company for the Kunene, Omusati, Oshana, Oshikoto, Ohangwena, Kavango East, Kavango West, and Zambezi regions. The shareholders are Nampower, Local Authorities Electricity Company (Pty) Ltd. (LAEC), and Regional Councils Electricity Company (Pty) Ltd. (RCEC). Kavango East region chairperson Damian Maghambayi said he has never seen the company’s financial reports since taking office in 2020. “We have many issues with Nored. They have not…

09 May

Manufacturing largest exporter in March

Observer Money

The manufacturing industry emerged as the industry with the largest export of goods in March valued at N$5 billion, absorbing 59,4% of total exports, products from the industry increased by N$57 million when compared to the previous month. Mining and quarrying industry came in second position with a share of 33,5% of the total export in March, the Namibia Statistics Agency said. Exported goods from this industry increased by N$2 billion when compared to the previous month. Furthermore, agriculture, forestry and fishing industry ranked third, contributing 4,9% of the total export of goods The demand side was largely dominated by…

09 May

Financial markets anticipate borrowing plan

Observer Money

The financial markets and investors are anticipating the government's borrowing plan, that will serve as a crucial factor in guiding investors on how to structure their bids. Understanding the government's borrowing intentions will help investors make informed decisions regarding their portfolio allocations and investment strategies, Simonis Storm Securities noted that. During April, there was noticeable competitive demand for Treasury Bills (TBs), particularly concentrated at the short and long ends of the yield curve. The 91-day and 364-day notes attracted the most significant portion of tendered amounts, indicating investor preference for short-term liquidity and longer-term stability. Despite this concentration, Namibian yields…