info_e12wt4cs – Page 753

01 Feb

Trustco to cash in on Sierra Leone investments….records 1.3 billion losses in the last two years

info_e12wt4csObserver Moneyfirst time the group plans to cash-in on one of its major foreign investments, records 1.3 billion losses in the last two years, TRUSTCO Group Holdings Managing Director (MD) Quinton van Rooyen, Trustco to cash in on Sierra Leone investment

Tujoromajo Kasuto TRUSTCO Group Holdings Managing Director (MD), Quinton van Rooyen says that for the first time the group plans to cash-in on one of its major foreign investments. The group, he says, it wants to reduce its shareholding substantially to a minority interest in mining activities in Sierra Leone. The value of that transaction is estimated to amount to USD150 million (N$2.3billion) which will be more than the group’s current market capitalisation or the value of all its stock. This comes as the group posted losses in the past two financial years, totaling N$1.3 billion, since the start of…

01 Feb

That is how business is done in Namibia”- Nghipunya

info_e12wt4csObserver Money10 million dollars without any services provided by Wanakadu Investments.A whopping 19 693 750 dollars was paid to Ndjakete investments, That is how business is done in Namibia

Eba Kandovazu DISGRACED former Fishcor Chief Executive Officer Mike Nghipunya reportedly hinted to Louise Fernandez, the CEO of Low-Key Investment, that a company receiving fishing quotas for governmental objectives must understand “that is how business is done in Namibia”, after he requested that Lowkey to pay money into the account of a company he co-owned with his fishrot co-accused Phillipus Mwapopi, Wanakadu Investment. Fernandez said he ended up parting with cash of close to 10 million dollars without any services provided by Wanakadu Investments. “By the words he used, he made me understand that that is how business was done…

31 Jan

69-year-old woman escapes death after grandson set hut on fire

info_e12wt4csObserver Money69-year-old woman escapes death after grandson set hut on fire, case of attempted murder and arson read together with the Domestic Violence Act 4 of 2003

Tujoromajo Kasuto A case of attempted murder and arson read together with the Domestic Violence Act 4 of 2003 was reported at Oshikango in the Ohangwena Region on Saturday, 29 January 2022. The incident was reported to have happened at around midnight on Saturday at the Eemboo village, where it is alleged that 26-year-old man intentionally set the room room alight, in which his 69-year-old grandmothers was sleeping. The granny was sleeping in the room after an alleged argument with her grandson. According to Police Spokesperson Kauna Shikwambi the room and its contents were completely destroyed by the fire. The…

31 Jan

Namibian students results already emailed to SA universities…Steenkamp says UCT rejection not a result of exam leaks

info_e12wt4csObserver MoneySteenkamp says UCT rejection not a result of exam leaks, students who provided the Ministry with their candidate numbers had their results sent to South African universities

Eba Kandovazu THE Executive Director of Education, Sanet Steenkamp says the results of learners who re-wrote examinations as a result of the examination question papers leak have already been emailed to South African universities. Steenkamp explained that students who provided the Ministry with their candidate numbers had their results sent to South African universities. However, the Faculty of Commerce at the University of Cape Town today said it had withdrawn the applications of Namibian students into the faculty because classes would have already commenced at the time of the release of the examination results of the applicants. The faculty Dean,…

31 Jan

Khomas Regional Council budgets N$2m for flash flood victims

info_e12wt4csObserver MoneyKhomas Regional Council budgets N$2m for flash flood victims, Khomas Regional council chairperson John Moonde

Martin Endjala The Khomas Regional Council has allocated two million Namibia dollars to as a relief to residents affected in the region by flash floods caused by rains over the past two weeks. Confirming the amount to the Windhoek Observer today, Khomas Regional council chairperson, John Moonde said that the money was budgeted long ago and was only delayed. The Namibian Broadcasting Corportion reported at the weekend as if the amount was budgeted only now as an emergency. “We have availed this amount a longtime ago, the delay was the assessment report that needed to be analysed in order to…

31 Jan

Elders appointed in ‘youth positions’ to train them – Agnes Tjongarero

info_e12wt4csObserver MoneyElders appointed in ‘youth positions’, In Namibia the age group of between 16 and 35 are considered youth, THE Ministry Of Sport, Youth & National Service Agnes Tjongarero

Tujoromajo Kasuto THE Ministry Of Sport, Youth & National Service, Agnes Tjongarero says the National Youth Service’s (NYS) the 10 board members were appointed procedurally, despite their ages ranging above the limit of 35 years, which is the cut-off for youth. In Namibia the age group of between 16 and 35 are considered youth. The Popular Democratic Movement recently had to remove their Secretary General and his deputy after they turned over 35 years. She further said they came into power when the positions were advertised and then were shortlisted. The minister says she does not have all the information…

31 Jan

Hatuikulipi owes tax man over N$ 21 million

info_e12wt4csObserver MoneyHatuikulipi owes tax man over N$ 21 million, Sacky Shanghala was indebted to the finance ministry in an amount of N$2 101 223

Eba Kandovazu REVELATIONS in the fishrot corruption saga continues to unfold with new information brought to fore on each day of court hearing. The latest information comes from investigations including their dues to the treasury. The Ministry of Finance inland revenue, shows outstanding income taxes by the fishrot accused and the various companies they own. Anti corruption commission Iivestigator Andreas Kanyangela testified today that an income tax notice belonging to James Hatuikulipi indicated that he owed the finance ministry an amount of N$403 624 in 2014, N$4 951 266 in 2015, N$7 291 957 in 2016, N$4 236 000 and…

28 Jan

Heavy rainstorms expected in Namibia over the weekend

info_e12wt4csObserver MoneyChief Meteorological Officer Odillo Kgobets, more than 50 millimeters expected

Martin Endjala The Windhoek Meteorological Weather Station is alerting the public through the Ministry of Works and Transport to take precautionary measures with widespread heavy rainstorms of more than 50 millimeters expected in various places over the Northern Eastern half, Central and Southern regions of the country. Chief Meteorological Officer, Odillo Kgobetsi, stresses that tropical depression will cause and continue with significant rainfall in the the regions of Zambezi, Kavango East, Kavango West, Ohangwena, Otjozondjupa, Kohmas, Hardap and Karas. The City of Windhoek Corporate Communications Marketing Officer, Harold Awkenye, is reassuring residents that the City of Windhoek is ready in…

28 Jan

Health Ministry in need of more donations ..despite medical equipment donation worth over N$ 3.7m this week

info_e12wt4csObserver MoneyDEPUTY Minister of the Ministry of Health and Social Services (MoHSS) Esther Muinjangue, the ministry can never have enough medical supplies

Tujoromajo Kasuto DEPUTY Minister of the Ministry of Health and Social Services (MoHSS),Esther Muinjangue, says the ministry can never have enough medical supplies. Thus a donation is always welcomed adding it’s difficult to say exactly how much of a shortage there is looking at the various medical facilities across the country. The Ministry on Wednesday received medical equipment donation worth over N$ 3.7m from a non-profit organisation based in Germany. The donation was handed over by Hans-Wilhelm Schütte, the Managing Director of Ohorongo Cement. It included more than 60 hospital beds and mattresses, more than 30 bedside tables, an x-ray…

28 Jan

Namcor attains a vaccination rate of 82 percent

info_e12wt4csObserver MoneyImmanuel Mulunga, Managing Director, Namcor attains a vaccination rate of 82 percent

Tujoromajo Kasuto The National Petroleum Corporation of Namibia (Namcor) has overall vaccination status has reached 82 percent. The company has implemented a number of initiatives to combat and contain the spread of COVID-19. Immanuel Mulunga, Managing Director (MD) states: “Namcor continues to relentlessly implement its vaccination directive throughout the company to have as many Namcor staff members vaccinated to maintain a healthy and productive workforce.“ The current vaccination status of Namcor is as follows: 84 percent at the Head Office in Windhoek, 80 percent at the National Oil Storage Facility in Walvis Bay, and 55 percent at its depots in…