Blog – Page 670 – Windhoek Observer

01 Apr

NHE financial woes blamed on incompetent leadership

ObserverUncategorisedLegal Advisor and Company Secretary Ntelamo Ntelamo, NHE financial woes blamed on incompetent leadership, The Chief Executive Officer of the National Housing Enterprise Gisbertus Mukulu

Tujoromajo Kasuto The Chief Executive Officer of the National Housing Enterprise, Gisbertus Mukulu has been accused of inefficiency and blamed for the ‘’catastrophic financial situation’’ at the parastatal. The accusations are made in the resignation letter of the company’s Legal Advisor and Company Secretary, Ntelamo Ntelamo, who further says that the ‘’financial situation in my opinion is unaffected by Covid-19 … nobody measured the impact of the pandemic on the business to provide a credible argument’’. Approach for comment, Mukuluh dismissed the claims with arrogance, claiming that Ntelamo’s words reflect his personal opinions and not those of NHE. ‘’Any internal…

31 Mar

GIPF barks the trend on increments

ObserverUncategorisedGIPF barks the trend on increments, GIPF CEO David Nuyoma, Institutions Pension Fund (GIPF)

Martin Endjala The Government Institutions Pension Fund (GIPF) today announced a 4.62 percent increase for its pensioners effective from 1 April 2022. This was said in a statement by the Marketing and Stakeholders Engagement Officer of GIPF. The increment was necessitated by the volatile economic situation, fuel and commodity price increments in the country. The 4.62 percent hike for this year, shows a slide improved of just above one percent compared to last three percent. “A pension increase serves to cushion pensioners from unexpected change in their purchasing power hence, the incessant ability to increase members’ benefits annually”, the media…

31 Mar

BoN makes money in challenging times

ObserverUncategorisedBank of Namibia, BoN makes money in challenging times, Johannes Gawaxab

Tujoromajo Kasuto The Bank of Namibia has delivered a strong net operating surplus and paid a dividend which is 42 percent higher compared to 2020 amounting to N$413.7 million. Despite the low interest rate environment that persisted in 2021, the Bank recorded a higher surplus in 2021 than in 2020 and declared a record high dividend. The Board of BoN in consultation with the Ministry of Finance has decided to use a part of the dividend as seed capital for the newly created Sovereign Wealth Fund. However, the bank experience a decline in net income mainly due to low interest…

31 Mar

Another fuel price hike….Hard times ahead

ObserverUncategorisedAnother fuel price hike….Hard times ahead, Energy Kornelia Shilunga, National Energy Fund (NEF)

Martin Endjala Petrol and diesel prices have jumped for a third month in a row effective from 6th of April 2022. The astronomical hikes will see petrol trading at N$1.95 cent and diesel at N$2.95 cent per liter respectively at the pumps. This translates into the petrol price at Walvis Bay increasing to N$19.10 cent per liter diesel retailing at N$20.23 cent. This current high prices have never been experienced in Namibia’s recent past even during the most difficult of global or local economic downturns. The Deputy Minister of Mines and Energy Kornelia Shilunga in her announcement today said that…

31 Mar

LEFA Shuttle gets 250k boost from NBL

ObserverUncategorisedLEFA Melkisadek Shivute Ausiku, Namibia Breweries Limited (NBL), Oshiwambo, Self-Regulating Industry Forum (SAIF)

Martin Endjala The popular local cab transportation better known as LEFA received a sponsorship boost worth N$ 250 000 from the Namibia Breweries Limited (NBL) as a reaffirmation of its long-standing relationship with LEFA. The shuttle’s name is adopted from the Oshiwambo vernacular ‘OLEFA’, which is translates to English as transport. The sponsorship is part of NBL’s commitment to advocacy on promoting support on a healthy an sustainable drinking culture in Namibia. LEFA’s ride sharing platform has grown exceptionally in its last four years since its formation in 2018 with the help of a NBL investment, where it saw its…

30 Mar

PDM bemoans delay in adoption of genocide remembrance day…as Chief Kapuuo is commemorated

ObserverUncategorised44th Commemoration of the late Chief Clemens Kapuuo Day, Last year Home Affairs Minister Frans Kapofi told the media that his ministry would soon send the final draft of the proclamation of a genocide memory day, Popular Democratic Movement leader McHenry Venaani

Tujoromajo Kasuto At the 44th Commemoration of the late Chief Clemens Kapuuo Day, Popular Democratic Movement leader McHenry Venaani issued a clarion call on the government to complete the promulgation of the Genocide Remembrance Day saying it is ‘’wildly disturbing that the government has still not declared the day’’. The afflicted communities have requested that the government proclaim a day of commemoration in honor of the thousands of Namibians who died in the German-sanctioned genocide at the turn of the twentieth century. Venaani said he has on two occasions written to the President Hage Geingob, ‘’most recently last year I…

30 Mar

Urban minister wants affordable housing for all

ObserverUncategorisedThe Minister of Urban and Rural Development Erastus Uutoni, Urban minister wants affordable housing for all

Martin Endjala The Minister of Urban and Rural Development Erastus Uutoni has called on all Namibians to join hands with the ministry in building sustainable affordable houses in the country for particularly the ultra-low income group, rather than leaving it up to the ministry to do everything. Uutoni made this call at the Economic Association of Namibia (EAN) housing symposium today in the capital at Safari Hotel. Uutoni said that he is aware of the cry from the people and therefore the ministry has embarked on a readiness project that will allow low income earners to pledge the little that…

30 Mar

Jooste resigns as minister and MP

ObserverUncategorisedGeingob thanked Jooste for his determination in ensuring reforms of Public Enterprises, Jooste resigns as minister and MP, President Geingob lauded the valuable contributions the outgoing Minister made

Tujoromajo Kasuto Leon Jooste, Minister of Public Enterprises today tendered in his resignation to President Hage Geingob as Minister and Member of Parliament. The comes months after he announced that his ministry will be integrated as a directorate into the Ministry of Finance. Accepting the resignation of Jooste, President Geingob lauded the valuable contributions the outgoing Minister made in setting up the Ministry of Public Enterprises and leading the Ministry with dedication. Additionally, Geingob thanked Jooste for his determination in ensuring reforms of Public Enterprises through the enactment of the Public Enterprises Governance Act of 2019, including the successful conclusion…

30 Mar

Govt urged to invest more in agriculture

ObserverUncategorisedGovt urged to invest more in agriculture, McHenry Venaani the leader of the official opposition, The leader of the Landless People’s Movement Bernadus Swartbooi

Staff Writer THE N$1.2 billion dollars allocated for agriculture in the 2022/23 budget is insufficient to address the prevailing challenges in the sector, as well as the need to transform the sector. This was said by McHenry Venaani, the leader of the official opposition, Popular Democratic Movement during his budget contribution in the National Assembly yesterday. He said the government cannot lose momentum if it is to increase food and nutrition security, reduce poverty and drive economic growth and development. Venaani reminded the government of the 2003 Maputo Declaration to which it is a signatory which commits an investment of…

30 Mar

ECB revenue affected by personal electricity generation

ObserverUncategorisedBoard Chairperson Gotlieb Hinda, ECB revenue affected by personal electricity generation, Levy income is ECBs primary source of revenue

Tujoromajo Kasuto Electricity Control Boards 2021 financial year report reveals that its revenue declined by 7.75 percent from N$93,7 million in the previous fiscal year to N$86,4 million. The actual quantities of power supplied by the ECB declined by 10.3 percent as compared. The decrease in electricity units sold is due to the general decline in economic activity, which is principally attributed to the impact of COVID-19. Other reasons include a growth in power generation for personal consumption by users, such as solar rooftops, which are not subject to the ECB levies. Levy income is ECBs primary source of revenue.…