info_e12wt4cs – Page 726

10 Aug

Namibia records high trade shortfalls

info_e12wt4csNational NewsN$4 billion, Namibia records high trade shortfalls, Simonis Storm Securities economist Theo Klein

Staff writer Namibia recorded a trade deficit in each month so far this year, averaging a monthly trade deficit of N$3.4 billion.Simonis Storm Securities economist Theo Klein says the shortfall would not only have a negative impact on the 2022 GDP calculation based on the expenditure approach, but it would also contribute to a worsening current account balance.“Indeed, preliminary figures from Bank of Namibia (BoN) show a current account deficit of N$7.3 billion in the first quarter of 2022 compared to a deficit of N$3.4 billion in the first quarter of 2021. BoN expects foreign currency reserves to decrease by…

08 Aug

Venaani, PM in housing tussle

info_e12wt4csNational NewsMcHenry Venaani has questioned Prime Minister Saara Kuugongelwa-Amadhila, PM in housing tussle, Popular Democratic Movement leader, Venaani

Martin Endjala Popular Democratic Movement leader, McHenry Venaani has questioned Prime Minister Saara Kuugongelwa-Amadhila’s response to the 891 houses that remain unoccupied. The Prime Minister cited court challenges for the delay in the allocation of the houses, when addressing a Swapo campaign rally at Swakopmund at the weekend. However, Venaani refused to accept this as an excuse, saying government should look at alternatives to resolve the hold-up while the court dispute is ongoing. He suggested that a new contractor be brought in to complete the houses in view of the pressing housing backlog. “The Prime Minister has said nothing, I…

08 Aug

Commonwealth parliaments urged to digitize

info_e12wt4csNational NewsCommonwealth parliaments urged to digitize, SOCATT seminar held in Windhoek, Society of Clerk-At The Table\

Martin Endjala The Society of Clerk-At The Table standing committee has been urged to quickly move in implementing the digitalization project of parliaments across the Commonwealth countries in Africa in order to keep pace with global trends. National Council MP Gerhard Shiimi made this call during the last day of SOCATT seminar held in Windhoek last week. “Now is the time to invest in ICT infrastructures, it is a technological imperative that cannot be avoided nor ignored. It must not only be of good intention but it must be executed,” Shiimi stated. He went on to appeal to SOCATT to…

08 Aug

US tourist couple robbed of priceless goods

info_e12wt4csNational News500 US dollars in cash, a GoPro Hero 5, a Peruvian and a USA passport, a SB900 flash, Eduardo Duarte, memory cards, Nikon D850, three Nikon lenses, transmitter and receiver

Tujoromajo Kasuto A tourist couple has posted a 17 000 Namibia dollar reward for the recovery of their priceless photographic material of the Namibian scenery that was robbed on July 12, at the APS Guesthouse where they resided. A couple of tourists from the United States were robbed at the APS Guesthouse. The stolen Tamrac camera backpack contained professional camera equipment, including Nikon D850, three Nikon lenses, a GoPro Hero 5, a SB900 flash, transmitter and receiver, 500 US dollars in cash, memory cards, a Peruvian and a USA passport, plus other personal items. The approximate value of everything is…

08 Aug

Trevali secures N$1.8 billion funding for Rosh Pinah Mine expansion

info_e12wt4csNational NewsCompany’s Rosh Pinah Mine in Namibia, President and Chief Executive Officer (CEO) of Trevali, Standard Bank Namibia and Standard Bank of South Africa, Trevali secures N$1.8 billion funding for Rosh Pinah Mine expansion

Tujoromajo Kasuto Trevali Mining has received credit approval from Standard Bank Namibia and Standard Bank of South Africa for a N$1.86 billion (US$110 million) to fund the expansion of the Company’s Rosh Pinah Mine in Namibia. “Project financing for the Rosh Pinah expansion has been steadily progressing for the past several months, and we are pleased to report the confidence in the Rosh Pinah operation and expansion that is reflected by Standard Bank’s credit approval and strong endorsement of the RP2.0 project,” says Ricus Grimbeek, President and Chief Executive Officer (CEO) of Trevali. “The expansion at Rosh Pinah is the…

06 Aug

Defamation judgements should serve as lessons

info_e12wt4csNational NewsAbed Bishop Hishoono, Defamation judgements should serve as lessons, Hishoono is the Ohangwena, Thomas Masuku

Tujoromajo Kasuto RENOWNED High Court Judge Thomas Masuku in a judgement delivered today in a defamation of character case, reprimanded that court judgments are not only for the sued participants but also for members of the public to wisely embrace any lessons, directions freely offered to them and identify behaviour, actions, or conduct on their part worth ceasing or shunning. He said that prior defamation cases and judgement ‘’have either fallen by the wayside or, at worst, been eaten by the birds of the air,’’ similar to the parable of the sower in the Bible. Masuku observes that the judgments…

Grootfontein hospital x-ray<br>machine out of service 24 months

06 Aug

Grootfontein hospital x-ray
machine out of service 24 months

info_e12wt4csNational NewsThe x-ray machine at the Grootfoontein State Hospital has been not been functioning for more than 20 months, Timoteus Gebhardo, Tsumeb and Grootfontein

The x-ray machine at the Grootfoontein State Hospital has been not been functioning for more than 20 months, forcing patients to be transferred to Tsumeb in the Oshikoto Region for radiography services. Timoteus Gebhardo, regional health director of Otjozondjupa, confirmed that the machine has been out of service, saying that the hospital is addressing the problem. “It is indeed true that Grootfontein x- ray machine is not functional since last year, it’s going to be two years in December. It’s really a burden to us. I understand that the machine was ordered from overseas and was supposed to have arrived…

06 Aug

Namfisa regulated entities experienced growth dips

info_e12wt4csNational NewsCommon Monetary Area (CMA), Namfisa Quarterly Statistical Report, NAMFISA’s Consumer Complaints Department

Tujoromajo Kasuto THE Namibia Financial Institutions Supervisory Authority (Namfisa) regulated 599 entities with total assets worth N$368.6 billion during the first quarter of 2022, shows a 0.5% decrease from the asset value of N$370.6 billion recorded at the end of the fourth quarter of 2021. This is contained in the Namfisa Quarterly Statistical Report for the first quarter of 2022, released yesterday. The report provides industry statistics, the latest industry trends and developments and also information regarding Namfisa’s regulatory and supervisory activities during the quarter under review. According to the report, ‘’the non-banking financial institutions assets increased annually by 8…

06 Aug

Connect Africa wins big at OM SEED

info_e12wt4csNational NewsConnect Africa wins big at OM SEED, Economic & Empowerment Drive (OM SEED) initiative, Old Mutual Sustainable, OM SEED, The Connect Africa App

Martin Endjala An App designed to help visual and hearing impaired persons scooped the cash prize of N$50 000 at last night’s Old Mutual OM SEED pitch held in Windhoek. The Connect Africa App that started last year has the ability to translate written words, pictures via phone scan into voice/sound readable in both English and local languages. Through the Old Mutual Sustainable, Economic & Empowerment Drive (OM SEED) initiative, Old Mutual Namibia along with Launch Namibia, the Financial Literacy Initiative (FLI) and the United Nations Development Programme (UNDP) Accelerator Lab, awarded three entrepreneurs from Windhoek N$85 000. During the…

06 Aug

Mining Expo promises exciting marketing avenues

info_e12wt4csNational NewsCEO Veston Malango., Covid-19 Pandemic, Mining Expo promises exciting marketing avenues, the 9th Namibian Mining Expo andConference

Tujoromajo Kasuto After a two-years absence because of the Covid-19 Pandemic, the 9th Namibian Mining Expo andConference, is scheduled for 31st August and 1st September 2022, under the theme, ‘’Breaking New Frontiers in a Post-Pandemic Era’’. “The whole Chamber team is gearing up and preparing for what promises to be an exciting and successful Mining Expo Conference at the Windhoek Showgrounds,” said Chamber of Mines CEO Veston Malango. Malango indicated that this year’s event coincides with an improving outlook for the mining industry supported by a buoyant mineral commodity market, and a fast-paced operating environment that is evolving with rapid…