Observer

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Local companies lose N$6.5 billion on NSX
17 Jul

Local companies lose N$6.5 billion on NSX

ObserverObserver Money, , ,
Staff Writer Capricorn Group, FirstRand Namibia, Namibian Breweries lost a combined N$6.5 billion in value after the counters recorded massive loses on Thursday’s trade on the Namibian Stock Exchange (NSX). The biggest loser was FirstRand Namibia which shed a massive N$2.9 billion in value, closing Thursday trade with a market capitalization of N$5.3 billion, down 35.37 percent. Diversified financial services group, Capricorn Group, the owners of Bank Windhoek shed N$1.8 billion in value, closing Thursday trade with a market capitalization of N$5.3 billion, down 25 percent. Ohlthaver & List Group controlled Namibian Breweries’ market capitalization plummeted 25,35 percent, down N$1.8…
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SPYL weighs into NCAA suspensions
17 Jul

SPYL weighs into NCAA suspensions

ObserverObserver Money, ,
Andrew Kathindi Employees’ suspensions and occurrences at the Namibian Civil Aviation Authority (NCAA) turned into a political storm on Friday 17 July after the Swapo Party Youth League (SPYL) weighed in, raising concerns about developments at the state owned enterprise. This comes after videos on social media went viral showing a legal officer at the NCAA, Natalia Isak, being suspended, seemingly after raising concerns about irregularities at the government body tasked with regulating air traffic services in the country. The alleged concerns raised by Isak include unfair and inconsistent salary grades, illegal recruitment processes, modern day slavery and exploitation of…
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Walvis Bay, Swakop classes to resume
17 Jul

Walvis Bay, Swakop classes to resume

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Staff Writer Ministry of Education, Arts and Culture has announced that face-to-face classes for grade 11 and 12 in Walvis Bay, Swakopmund and Arandis will resume on Monday, the 20th of July despite rising cases of COVID-19 in some of the towns. Walvis Bay is currently the epicenter of COVID-19 cases in the country with 40 out of the 46 cases recorded on Friday being from the costal town. On Wednesday, of the 72 new cases recorded, two were from Swakopmund and 68 were from Walvis Bay. Executive Director in the Education ministry, Sanet Steenkamp said although the return of…
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BoN calls for structural interventions
17 Jul

BoN calls for structural interventions

ObserverUncategorised, ,
Staff Writer The Governor of the Bank of Namibia (BoN), Johannes !Gawaxab says although the central bank has continuously ensured a favorable macroeconomic environment for the country’s economic growth over the past 30 years, structural interventions are required to increase Namibia’s growth potential. “This Bank is ready to work with the Government, not in a subservient role, but rather in a complementary fashion to set the framework for accelerated economic development. The Namibian economy needs structural interventions to achieve a sustained increase in our growth potential,”! Gawaxab said during commemorations of BoN’s 30th anniversary. “We need to dedicate our time…
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17 Jul

Make it easier for companies to tender

ObserverNational News, ,
Preparing a government tender is a nightmare. Those who do so have PhDs in paperwork. A thriving business sector can lessen the income gap between the rich and poor. And yet, the process to use opportunities to compete for government or SOE contracts is only accessible to a few. Namibian laws that claim to help business grow are laden with overregulation and stifling bureaucracy. The rich, already-advantaged and 'connected' thrive in the existing procurement process. Everyone else drowns. Understanding the 50-page bid documents requires flawless English comprehension, a law degree, accountancy courses, and a crystal ball. There are other hurdles…
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We didn’t make a mistake – ECN
17 Jul

We didn’t make a mistake – ECN

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Andrew Kathindi The Electoral Commission of Namibia (ECN) maintains it did not make a mistake regarding the amendment of the Popular Democratic Movement (PDM) parliamentary list, seemingly hinting at its intention to appeal the High Court ruling. On Monday the High Court ruled in favour of PDM members Charmaine Tjirare and Hidipo Hamata in their case in which they challenged their removal from their party’s parliamentary list which was gazetted just before last year’s general election. The ruling requires that PDM members Charmaine Tjirare, Reggie Diergaardt, Frans Bertolini, Yvette Araes, Mike Venaani and Tjekupe Maximilliant Katjimune be sworn in as…
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CoW does not hold 5G licence – Kahimise
17 Jul

CoW does not hold 5G licence – Kahimise

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Staff Writer The City of Windhoek (CoW) says it does not hold a 5G licence and has never applied for one with Communications Regulatory Authority of Namibia (CRAN). The announcement by the municipality comes after CoW has been accused of having engaged Chinese telecommunication giant Huawei to partner in the role out of the fifth generation technology standard under its ambitious smart city initiative. “Council has never applied for a 5G Spectrum License with CRAN. You need a specific Spectrum License to operate a 5G network. There exist no 5G project approved by Council at the City of Windhoek and…
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Geingob hits back at opposition parties
17 Jul

Geingob hits back at opposition parties

ObserverObserver Money,
…as ruling party divisions continue Andrew Kathindi President Hage Geingob has hit back at opposition parties in Parliament who threatened to take Swapo to court over the selection of Parliamentary Committee members, calling their claims weak. This comes after opposition parties and Swapo reached an impasse over parliamentary committees. Thye could not agree on members to nominate. “The case of the Opposition, regarding the constitution of the committees, is weak. The rules are clear that proportional representation applies to the entire National Assembly and not just the committees,” said Geingob. Standing Committees are smaller groups of Members of Parliament elected…
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16 Jul

Reflections on Singapore: Lessons for Namibia

ObserverObserver Money,
Metusalem Nakale (DSocSci) Singapore’s economic transformation is the envy of many countries around the world. From 1967 to 1989, the real gross domestic product of Singapore increased six-fold, growing at 8.8 % a year. But how did Singapore do it? And what lessons can Namibia draw from Singapore’s experiences? Upon independence, in 1965, Singapore adopted a developmental state model of economic development. In this type of economic model, the state plays a significant role in directing economic activities. This model is contrasted with the free-market. The latter regards state intervention as detrimental to economic development. Supporters of the free-market ideology…
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16 Jul

Swartbooi – the game changer

ObserverNational News,
Bernadus Swartbooi, head of the Landless People’s Movement (LPM) is loud and emotive. he has a dedicated constituency that is growing and as an MP, he has a legitimate platform. He has tolled the bell for new politics in Namibia; he is a game-changer. Recently, Swartbooi gave his reactions to comments made at a Swapo Party media conference. Doubling down on his critics, he labeled Former Swapo Prime Minister Nahas Angula and former Minister of Justice (and Swapo Secretary-General) Pendukeni Iivula-Ithana embittered opportunists. His words raise the stakes. He said that no Swapo leaders or senior members, either in current…
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