Observer – Page 742 – Windhoek Observer

29 Jul

Govt’s loan repayment dilemma

ObserverObserver MoneyCirrus Securities Economist, Eurobond, IMF, Robert McGregor

Staff Writer Namibia’s plan to borrow from the International Monetary Fund (IMF) to help finance its N$21.4 billion deficit could create a repayment predicament if the N$4.5 billion loan is granted. This comes as it emerged that the majority of government debt maturities lie in the next few years, with the first Eurobond maturing in late 2021. “The timeline for repayment is the only real area of any concern, being in 3¼ to 5 years – right between Namibia’s two Eurobond maturities and with a public debt profile where the majority of maturities lie in the next few years. Overall,…

29 Jul

Govt must be proactive instead of reactive

ObserverNational NewsGovernment, Twaloloka, Walvis Bay

Does it take fire and the death of yet another baby in a shack to get things moving? In the midst of the fiery cataclysm on Sunday night in Twaloloka at pandemic slammed Walvis Bay, one can only say, “when it rains, it pours.” It reiterates the problem that tin shack suburbs are social, political and actual powder kegs. In dealing with such situations, the government seems to be constantly on the back foot; being reactive instead of proactive. It is a curious coincidence that the fire area, Twaloloka, was in the midst of planned ‘thinning out’ action by local…

29 Jul

Community transmission cases emerge

ObserverObserver MoneyMinister of Health Kalumbi Shangula, Windhoek

… as cases force organications to close Andrew Kathindi The Minister of Health Kalumbi Shangula has warned that community cases without known contacts or travel history have started popping up around the country. “This means that people are becoming infected in their localities, during their everyday activities,” he said. Shangula said behavioral change was the only solution that can allow the spread of the virus to be contained in community transmission cases. “It is time for all Namibians to change our behaviors and do everything we can to reduce our risk. We have seen in Walvis Bay how serious the…

29 Jul

CRAN upholds decision on CoW licence

ObserverObserver MoneyCRAN, MTC, Paratus, Windhoek

Staff Writer The Communications Regulatory Authority of Namibia (CRAN) on Tuesday upheld its decision to award a Class Comprehensive Telecommunications Service Licence to the City of Windhoek. The telecommunication sector regulator has, however, imposed additional licence conditions to the CoW licence to address stakeholder concerns around fair competition and infrastructure sharing. This comes after Paratus and MTC among other telecommunication companies had objected to the award, resulting in them appealing the regulators decision. “After careful consideration of the various and valid observations and comments raised by stakeholders, CRAN upholds its decision of 29 April 2020, and awards the Municipal Council…

28 Jul

Rössing records N$503 million profit

ObserverUncategorisedJohan Coetzee, Managing Director, Rössing Uranium Limited

Staff Writer CNNC Rössing Uranium recorded a N$503 million net profit for period January 2019 to December 2019, an increase from N$166 million recorded in 2018, the company’s latest Report to Stakeholders shows. This comes as the uranium miner’s revenue was in line with those of prior year at N$2.82 billion during the period under review. “Lower sales volumes were largely offset by a more favorable exchange rate. However, a 15 percent reduction in operating costs had a positive impact on profits before tax. The reduced costs largely contributed to an improved net profit after tax from normal operations of…

28 Jul

Coping with financial anxiety during COVID-19

ObserverUncategorisedAlna Booysen, Head of FNB Premium

Staff Writer The pandemic has led to many people struggling with financial anxiety and high stress levels due to mounting expenses, reduced household income and job uncertainty. “Finances can evoke a strong emotional response, which may impact your self-esteem, sleeping patterns, productivity and overall mental wellbeing. It can also impact partner and family relationships, so it’s important to manage financial anxiety and get appropriate support” says Alna Booysen, Head of FNB Premium. Here are ways to help you deal with financial anxiety: 1. Set aside time to reflect on your financial situation and find possible solutions. 2. Remember that your…

27 Jul

Differing perspectives within a party are a must

ObserverNational NewsNamibia, Swapo Party

The Founding President declared during this weekend’s Swapo introspection meeting that he didn’t want to hear about Team Swapo and Team Harambee anymore. He feels it has become divisive. He is right. There is only one ruling Swapo party. But, that doesn't mean there should be only one Swapo idea or thought pattern. New ideas that reflect the Swapo of tomorrow can only take root if people with different points of view, openly advocate for their ideas. The final goal should be agreed by the majority with opposing points inculcated where practicable. The need to walk lock-step on all things…

27 Jul

Shangula hits back at Haufiku

ObserverObserver MoneyBernard Haufiku, Health Minister, Kalumbi Shangula

Andrew Kathindi A war of words has erupted between Health Minister, Kalumbi Shangula, and his predecessor, Bernard Haufiku, after the minister hit back at Haufiku’s comments recently made on how government had botched its COVID-19 response. In a recent interview with Windhoek Observer, Haufiku said that he had presented several scenarios to the Health ministry in April on how to contain the spread of COVID-19 in the country; however, his suggestions were ignored. However, Shangula has not taken kindly to Haufiku’s claims, stating that the COVID-19 task team, which he heads as minister, was under no obligation to follow the…

27 Jul

Fire forces Govt to provide land

ObserverObserver MoneyWalvis Bay, Walvis Bay Mayor

Andrew Kathindi The rogue fire that ravaged the Walvis Bay township of Twaloloka on Sunday 26 July has forced government to allocate and service temporary land to the tune of N$20 million. Walvis Bay Mayor, Immanuel Wilfred, confirmed the development, which will see the local authority suspending some capital projects. These are projects the council is yet to decide on in order to fund the servicing of land on Farm 37, a new location that was launched in the coastal town last year. Farm 37 was identified in 2016 by the Walvis Bay and Erongo regional councils as a solution…

25 Jul

Awesome hot ham and cheese

ObserverUncategorisedtoasted ham and cheese sandwich

Jackie Wilson Asheeke A toasted ham and cheese sandwich is a cheap, easy eating solution. Add a cup of soup or broth and that can add vitamins and warmth without breaking the bank. I spent about N$20 on the entire lunch (soup included) for myself. Not including the soup, this toasted ham and cheese lunch takes about 10 minutes. Ingredients: 2 slices bread (I used brown bread) 2 teaspoons butter 2 slices Emmental cheese (I use mozzarella with the Emmental) 2 thin slices German ham (Spar Maerua has the nicely sliced deli ham) 1 teaspoon mayonnaise (not the salad mayo!)…