Observer – Page 626 – Windhoek Observer

12 May

Tsumeb street market to boost entrepreneurs

ObserverNational NewsTsumeb Mayor Mathew Hangula, Tsumeb street market to boost entrepreneurs

The Tsumeb municipality has initiated a street market to provide the resident with an opportunity to showcase and sell whatever products they wish to generate an income. An amount of N$250 will be charged for SME stalls, and N$500 for Corporates at the informal marketing that will be held every first weekend of each month, behind the First National Bank at the town. "This is an initiative which aspires to resuscitate our economy through the empowering of local entrepreneurs and ease the effects of Covid-19 which led to many business failing, thus pushing many into abject poverty. Therefore, this will…

12 May

Windhoek Light discontinued as demand shrinks

ObserverNational NewsNamibia Breweries, Windhoek Light discontinued as demand shrinks

Obrein Simasiku The Namibia Breweries has temporarily stopped the production of Windhoek Light because of declining demand. According to NBL, there are still plans to resume its production in the near future, depending on demand. "NBL foresees the current stock of Windhoek Light to be sufficient at current demand for the month of May 2022, after which the discontinuation will take effect," said NBL in a statement released today. NBL said they regularly review all of its Stock Keeping Units (SKUs) to assess their feasibility, according to the company’s responsibility to deliver value through appealing products to consumers and shareholders.…

12 May

Wealth fund to strengthen Namibia’s fiscal stability

ObserverNational NewsBoN Governor Johannes !Gawaxab, President Hage Geingob has launched the Welwitschia Fund

Tujoromajo Kasuto President Hage Geingob has launched the Welwitschia Fund, Namibia’s own Sovereign Wealth Fund today. The fund will be administered by the Bank of Namibia under the Jurisdiction of the Ministry of Finance. The president immortalised his vision for shared prosperity through the historic launch of Sovereign Wealth Fund, as it will secure generational wealth for posterity. “I hope today is a day our children will remember with gratitude & national pride b/c we have taken concrete steps to provide a better future for them. A day when we, as a founding generation, leave them a legacy that they…

12 May

N$193m committed to solar power

ObserverNational NewsAnirep Solar and Aussenkjer Energy Investments, Ruacana Hydroelectric Power Station

Martin Endjala The Development Bank of Namibia (DBN) has committed N$193 million to finance a new solar power generation plant, near the Kahn substation in the Namib Desert. The plant is expected to produce and add about 20 MW into Nampower’s Kahn substation, from where it will be distributed to households and industrial consumers. This was confirmed yesterday by the DBN corporate communication and stakeholder relations specialist Di-Anna Grobler during the signing of the agreement. Anirep Aussenkjerr Solar One, a start-up company, was the recipient of a 25-year tender to produce power for Nampower. The solar plant, 40 km from…

12 May

Tsumeb bends to CEO salary demand

ObserverNational NewsKapenda confirmed that the remuneration issue was addressed and has been adjusted, Victoria Kapenda

Obrein Simasiku The Tsumeb Municipality has reconsidered and caved in to the remuneration demand of the successful Chief Executive position candidate. The local authority has been without a substantive CEO for years, until they now have lured, Victoria Kapenda, who in 2019 rejected an offer from the municipality. Kapenda, as director in government was earning a salary of not less than N$512 809, excluding allowance, while the annual salary of a local authority CEO is around N$447 979 excluding, fringe benefits. It has come to light that the municipality bowed to Kapenda’s demand and adjusted the salary to suit the…

12 May

Small retail importers not protected from counterfeits confiscation

ObserverObserver MoneySmall retail importers not protected from counterfeits confiscation, The Namibia Revenue Agency (NamRA)

Tujoromajo Kasuto The Namibia Revenue Agency (NamRA), yesterday destroyed counterfeit goods valued at over N$5 million, which were confiscated following their illegal importation into the country. NamRa spokesperson Tonateni Shidhudhu told the Windhoek Observer that Small Enterprises or online boutiques locally known as "Order with me", that have gained momentum over the last few years are not protected from confiscation of counterfeit goods. Thus, they should familiarise themselves with the law to insure they order genuine instead of knockoff products to avoid confiscation. He added that "the counterfeit goods might be harmful to society as such goods would have not…

12 May

Mining sector prone to Illicit Financial Flows

ObserverObserver MoneyAfrican Union High Level Panel (AU-HLP), IFF, Illicit Financial Flows Secretariat., Mining sector prone to Illicit Financial Flows

Obrein Simasiku The extraction or mining sector is one of the most vulnerable to Illicit Financial Flows (IFF), because African authorities lack the expertise and the skills to seal loopholes, which in turn affects the economy and developmental growth of host countries and the continent. "The dependence of African countries on natural resources extraction for exports and revenues makes us extremely vulnerable to illicit financial flows. These sectors are prone to IFFs, trade mispricing including abusive transfer pricing, secret and poorly negotiated contracts and overly generous tax incentives," stressed Finance Deputy Minister Maureen Hinda-Mbuende. She said this today when addressing…

12 May

Namibia, SA selected on IPU Russia/Ukraine task force

ObserverObserver MoneyInter Parliamentary Union (IPU), Namibia, Namibia and South Africa, Peter Katjavivi, SA selected on IPU Russia/Ukraine task force, Seiso Joel Mohair

Martin Endjala The Inter Parliamentary Union (IPU) has elected Namibia and South Africa, as the only African countries to form a task force mandated to resolve the ongoing Russia and Ukraine conflicts. This was revealed yesterday by the National Assembly Speaker Peter Katjavivi during a courtesy visit from the members of the South African National Council of Provinces (NCOP) on a benchmarking visit to the National Council. Speaker Katjavivi with his counterpart Nosiviwe Mapisa-Nqakula from South Africa, are the only leaders the IPU has vetted as representatives from Africa. Katjavivi pointed out that the gesture from the world’s parliamentary body,…

12 May

LPM wants corporates to develop communities

ObserverObserver MoneyDuminga Ndala, Henny Seibeb, James Mnyupe, LPM wants corporates to develop communities

Martin Endjala The Landless People’s Movement is questioning the level of commitment of corporates to develop local communities where they operate. LPM says businesses, particularly mining companies are not ploughing back into the communities where they do business, resulting in the mushrooming of informal settlements across the Country. The party wants these companies to be held accountable. These sentiments were expressed by LPM Deputy Leader Henny Seibeb and the Youth Student Command Element leader Duminga Ndala. During today’s press conference held at the LPM headquarter in Windhoek under the theme mining and local development they particularly singled out Usakos, Omaruru…

12 May

Nekongo warned not to neglect SPYL ……breaks silence on youth league endorsement

ObserverObserver MoneyEphraim Negongo, Nekongo warned not to neglect SPYL

Obrein Simasiku The Secretary of the Swapo Party Youth League may lose his influence over the organ when he goes to the National Assembly, after his appointment as a member of Parliament by President Hage Geingob.This is because Ephraim Negongo will now be required to focus on two jobs, while he should be preparing for his campaign to be re-elected in his current portfolio. Negongo is replacing the former Minister of Public Enterprises, Leon Jooste, but as an ordinary MP. Political analysts the Windhoek Observer spoke to says going to parliament for two-and-a-half years may impact negatively on his…