Observer – Page 854 – Windhoek Observer

06 Jun

AgriBank provides billions in funding

ObserverUncategorisedAgribank, Finance minister, Government, Iipumbu Shiimi

Staff writer Finance minister, Iipumbu Shiimi says AgriBank has extended up to N$1 billion in loans to farmers in various regions of the country over the past three years. “Equally commercial bank loans to agriculture over the past five years have averaged in excess of N$4 billion, indicating a healthy flow of funds to this sector. Drought relief disbursements amounting to N$245 million has also been provided by AgriBank over the past year,” he said in his reply on matters raised during the Second Reading of the 2020/21 Appropriation Bill in Parliament. He, however, warned AgriBank loan beneficiaries to repay…

06 Jun

Don’t worry about my age – Kanime

ObserverObserver MoneyAbraham Kanime, City Police Chief

Andrew Kathindi City Police chief, Abraham Kanime, who, this week, started his duties under a new three-year contract, informed Windhoek Observer that his age should not be an issue as he is not the only public servant above the retirement threshold. Kanime, who already turned 60, last month, resumed his duties following a much-publicized conflict between himself and City of Windhoek Chief Executive Officer (CEO), Robert Kahimise, over the renewal of his contract. The age of retirement for public servants in Namibia is 60. “You want to say I'm the only person who is in a government service, or in…

06 Jun

Churches eye govt bailout

ObserverObserver MoneyAssociation of Charismatic and Pentecostal Churches of Namibia, Covid-19, Social Security Commission (SSC)

… lament cap on church attendance numbers Andrew Kathindi Churches are crying for their share of the N$700 million COVID-19 related stimulus package announced by the Social Security Commission (SSC) and the Ministry of Finance in April. Secretary-General of the Council of Churches of Namibia (CCN), Ludwig Beukes, said he is disappointed that no provisions were made for the church despite the fact that the church employs around 5,000-10,000 people countrywide that depend on the income that has been lost in the last few months since churches closed their doors on 17 March. “It’s a whole thing about how state…

05 Jun

Offer solutions, not drama

ObserverUncategorisedBernadus Swartbooi, Landless People’s Movement (LPM), Parliament

Comments by Landless People’s Movement (LPM) leader Bernadus Swartbooi calling for monthly $750 income grants for two years are unnecessary. Such pronouncements offer no solution, they only increase the drama. The new voices in the Parliament are the will of the Namibian people as democratically expressed at the ballot box last November. That vote was for increased debate and new ideas. The voters wanted competent challenges to the status quo of Swapo dominance in law-making that was not working. In light of the Finance Minister’s recent budget speech and statistics, anyone seriously demanding two years of N$750 per month payments…

05 Jun

SONA in a time of crisis is a challenge

ObserverNational NewsNamibia Equitable Economic Empowerment Bill (NEEEB), State of the Nation Address (SONA)

What can any leader really say during the worse time in the history of the country he was elected to lead? President Geingob’s State of the Nation Address (SONA) rehashed the drips and drops of positive news that have already been in headlines. The speech tries to convince the nation that the glass is half full; many will still see it as half empty. In our view, the Finance Minister’s budget speech presents the real SONA. The president stated the disturbingly high unemployment statistics for Namibia that we already knew, (i.e., 33 percent in general with youth unemployment at 46.1…

05 Jun

Trustco secures N$345m loan

ObserverUncategorisedCovid-19, German, Trustco, Trustco Finance, Trustco Group Holdings Limited

Staff Writer Trustco Finance, a subsidiary of Trustco Group Holdings Limited has secured a US$20 million (approximately N$345 million) loan from Deutsche Investitions Und Entwicklungsgesellschaft, a German development finance institution. The loan approval is, however, subject to a final agreement currently being drafted. The bulk of the facility will be used to provide student financing, offered by Trustco Finance, as well as enhancing the educational facilities offered by the Institute for Open Learning (Pty) Ltd (“IOL”), while funding will also be made available to existing students to restructure and refinance their existing obligations as part of the group’s COVID-19 relief…

05 Jun

Germany continues support for COVID-19 testing in Namibia

ObserverObserver MoneyCovid-19, Germany, MoHSS, Namibia

Staff Writer Rapidly identifying infections with the novel corona virus (SARS-CoV-2) is crucial to enable immediate outbreak management and to initiate public health interventions. Germany therefore supports the development of testing capacities for COVID-19 in Namibia. After a first diagnostic laboratory training in Windhoek in the beginning of March the German partners continue to provide critical testing materials like swabs and reagents. This has enabled the Namibia Institute of Pathology (NIP) to conduct more than 2,000 tests in Namibia so far. This support is based on a recently established working relationship as part of a twinning project between the Robert…

05 Jun

I have done nothing wrong – Shiyuka

ObserverObserver MoneyAmos Shiyuka, Community Security Solutions Namibia (CSS), Namibian Police Force, NAMPOL

Staff Writer The Windhoek Observer (WO) recently caught up with businessman and Community Security Solutions Namibia (CSS) Managing Director, Amos Shiyuka (AS) regarding fraud charged laid against him by the Namibian Police Force (Nampol), amid allegations of price inflating. Below is an excerpt of the interview. WO: Have you been formally charged or questioned by the police regarding accusations of fraud that have been lodged against you and your company? AS: No, at this point there have been no formal charges laid nor have I been formally questioned. WO: Could you give reasons for the discrepancy between the contract price…

05 Jun

Drama in Parliament as Geingob delivers SONA

ObserverObserver MoneyHarambee Prosperity Plan, Ministers, Parliament, president Hage Geingob, State of the Nation Address (SONA)

Staff Writer It was an eventful day in Parliament when President Hage Geingob delivered his first State of the Nation Address (SONA) on Thursday. The address unlike his previous addresses during his first administration did not go as smoothly, as opposition parties in Parliament interrupted him. At one stage, the President took his seat while the Speaker of the National Assembly, Peter Katjavivi brought the house to order. In his address, the President said he was aware of the challenges currently faced by Namibians due to the negative impact of COVID-19. “Fellow Namibians, I share in your anxieties. I understand…

05 Jun

Geingob rubbishes Chinese loan claims for Swapo HQ

ObserverObserver MoneyKalahari Holdings, president Hage Geingob, SWAPO

Andrew Kathindi Swapo President, Hage Geingob on Thursday refuted claims that the ruling party used loans to pay for the N$730 million Swapo party headquarters being built in Windhoek by Chinese company, Unik Construction Engineering. Unik Construction Engineering, which has undertaken several projects in the country, including the N$1 billion construction of the road between Walvis Bay and Swakopmund, was awarded the tender to construct the ruling party’s headquarters last year. Quizzed in Parliament on whether the awarding of the tender to the company was done so that it could receive more tenders in the future, the President denied the…