Observer – Page 870 – Windhoek Observer

23 Apr

Retirement: A new chapter in the story of your life

ObserverUncategorisedGIPF, Retirement

GIPF Manager: Strategy & Projects Desmond Nikanor There is an old adage that says “retirement is not closing the book, it is just a brand new chapter”. This saying is especially true because it correctly implies that you have the ability to author and take control of this chapter in your life. The extent to which you will enjoy your retirement depends largely on the financial decisions and other support structures you have put in place before and during your retirement. Whether you have prepared well or not, it is never too late to improve your current retirement living. The…

23 Apr

This is not the time for a party

ObserverUncategorisedCovid-19, SWAPO

…it is a time to be sensitive and sincere We are disappointed at the ill-considered ‘party’ that was held to celebrate the SWAPO 60th birthday. We are fine with the ruling party rightfully applauding its 60-year history and its future in power in Namibia. But, during a COVID-19 pandemic, a state of emergency and an extended lockdown where people are being herded into their homes, forced to stand distances apart in queues to buy bread, and watch their financial futures crumble, the ruling party -led by the President himself- is having a grand old time, at a party with a…

23 Apr

This is not the time for a party

ObserverNational NewsCovid-19, National Broadcaster (nbc), SWAPO

…it is a time to be sensitive and sincere We are disappointed at the ill-considered ‘party’ that was held to celebrate the SWAPO 60th birthday. We are fine with the ruling party rightfully applauding its 60-year history and its future in power in Namibia. But, during a COVID-19 pandemic, a state of emergency and an extended lockdown where people are being herded into their homes, forced to stand distances apart in queues to buy bread, and watch their financial futures crumble, the ruling party -led by the President himself- is having a grand old time, at a party with a…

23 Apr

Utoni clueless on COVID-19 labour impacts

ObserverObserver MoneyCovid-19

Andrew Kathindi Minister of Labour, Industrial Relations and Employment Creation, Utoni Nujoma is clueless on the number of jobs that have been lost during the period of the COVID-19 pandemic. “I’m not in a position to give figures on lost jobs. You will have to get those details from the regions,” said the minister, whose ministry is key towards providing guidance to employers and employees affected by the coronavirus outbreak. Despite admitting that the labour market was in turmoil even before the COVID-19 outbreak, the minister failed to provide estimated job loses post-outbreak and what measures were being implemented to…

23 Apr

Tourism industry dying while waiting for bailout

ObserverObserver MoneyFederation of Namibian Tourism Associations (FENATA), lockdown, Ministry of Finance, tourism

…30,000 jobs can be lost if government money does not arrive on time Staff Writer The government is yet to avail the N$400 million promised to the country’s tourism sector as a subsidy. It has been three weeks since the Finance minister Iipumbu Shiimi, made an announcement pledging the multi-million dollar bailout for the hospitality, travel and tourism sector. The funds, according to Shiimi were aimed at providing a subsidy to players in the hard-hit tourism sector. This financial support would allow them to retain jobs with the industry. Tourism has been brought to a grinding halt as a result…

23 Apr

SSC plans N$3,000 payout

ObserverObserver MoneyCovid-19, Social Security Commission (SSC)

Andrew Kathindi The Social Security Commission (SSC) is set to pay N$1,000 per month for three months to employees from sectors hard-hit by the impact of the coronavirus. SSC Executive Officer Milka Mungunda said sectors to be covered by the grant to be administered by the fund include construction, farming, transport, manufacturing, retail, domestic workers and entertainment among others. “Vulnerable employees in the formal sector who are paid up SSC members will also receive a grant of N$1,000 a month during this period provided that they do not earn more than N$50,000 per annum,” said Mungunda said. Assuming all legal…

22 Apr

FNB Namibia provides relief to SMEs impacted by COVID-19

ObserverUncategorisedCovid-19, First National Bank Namibia, FNB, Namibia

Staff Writer Since the beginning of the COVID-19 outbreak, First National Bank Namibia has been closely monitoring developments, with the view of provisionally restructuring its operations and solutions to meet the changing demands and minimising the impact of the pandemic. FNB Namibia commends the Government of Namibia on its decision to invoke extreme social distancing (lockdown) and believes that the decision is a major step in the right direction towards containing the spread on the COVID-19, and drastically minimising its impact on our society and economy. Philip Chapman, FNB Executive Officer for Commercial assured customers that in addition to putting…

22 Apr

Sanlam pledges N$3.5 million

ObserverUncategorisedCovid-19, Namibia, Sanlam Group, Sanlam Namibia, SMEs

. . . to support various initiatives to combat the spread and the impact of the COVID-19 virus in an effort to “flatten the curve” The Sanlam Group has thrown its weight behind the fight against the spread of the Coronavirus in Africa and other territories where it has a business presence outside of South Africa by donating R45 million (about USD2,3 million) to support various initiatives to fight the pandemic. In response to the spread of COVID-19 in our country, Sanlam Namibia and its subsidiaries Welwitschia Insurance Brokers and Sanlam Investments today pledges N$3.5 million to support various initiatives…

22 Apr

Cattle misfortune for Esau

ObserverObserver MoneyAgribank, Bernhardt Esau

Staff Writer Former Fisheries minister, Bernhardt Esau who is currently incarcerated over his involvement in the Fishrot scandal, has had 50 head of cattle which were being kept on his behalf at Farm Sorondo in the Omaheke region, stolen. According to sources, Esau entered into an agreement with former Agricultural Bank of Namibia (Agribank) Credit Manager, Masilo Hochobeb to keep 300 head of cattle at his farm. “I have not been at the farm in four weeks, I will have to check with the workers,” said Hochobeb when contacted for comment. When quizzed over the agreement he entered into with…

22 Apr

Gawaxab appointed BoN Governor

ObserverObserver MoneyBank of Namibia, Johannes Gawaxab, president Hage Geingob

Staff Writer President Hage Geingob on Tuesday appointed veteran financial guru, Johannes Gawaxab as the new Governor of the Bank of Namibia effective June 1, 2020. “I congratulate you Johannes Gawaxab on your appointment and appreciate your willingness to bring your talents and experience of the financial services sector towards our tireless effort in building a united inclusive and prosperous Namibian house,” the President said. The move by Geingob to appoint Gawaxab to the helm of the apex banks comes after the head of state side-stepped long serving Bank of Namibia Deputy Governor, Ebson Uanguta who has been in his…