Blog – Page 840 – News Stand

10 Dec

RFA faces resistance over tolling plans

info_e12wt4csUncategorisedMcHenry Venaani, Road Fund Administration (RFA), toll booths

Staff Writer A mooted plan by the Road Fund Administration (RFA) to introduce toll booths on certain national roads in Namibia already faces resistance from political parties and national unions. This comes as RFA stated that a feasibility study finalised a few months ago found charging tolls on certain road sections in Namibia is feasible and viable. It claims that these new revenues would generate approximately N$3.9 billion over a five-year period. This supposed finding is a direct contradiction the 2019 finding by former Minister of Finance and current Minister of Agriculture, Water and Land Reform, Calle Schlettwein who said…

09 Dec

Bank of Namibia watches our wallets

info_e12wt4csNational NewsBank of Namibia (BoN), Mufhiwa Building Projects

The Bank of Namibia (BoN) has come to the rescue. They have classified the activities of Mufhiwa Building Projects as a pyramid scheme. Those involved are conning people out of their hard-earned money and pocketing the proceeds. BoN has cautioned the public to beware and avoid any transactions with Mufhiwa Building Projects or similar entities that may be doing the exact same thing. BoN has ordered promoters of Mufhiwa Building Projects and those who are already caught in its web as ‘members’ to stop doing any kind of business. A nod must be given to BoN for watching our wallets.…

09 Dec

Careful planning remains key to ensure emotional and financial readiness

info_e12wt4csUncategorisedManager: Communications and Social Responsibility, Mauriza Fredericks, Old Mutual Namibia

Growing numbers of millennial women — who are between 23 and 39 years old in 2020 — are choosing to start having children later in their lives. The average age of first-time mothers in many developed countries has risen to just over 30 this year. Furthermore, according to the Guttmacher Institute, more than 40 percent of women in the United States of America have reported delaying having children due to the outbreak of Covid-19. Research reveals that pandemic-related worries about finances and job stability as well as general unease about the future may be shifting how women feel about having…

09 Dec

MPs call for debt waiver

info_e12wt4csObserver MoneyCovid-19, SADC Parliamentary Forum

Moses Magadza WINDHOEK – The 48th Plenary Assembly Session of the SADC Parliamentary Forum has adopted a motion exhorting the regional body to support an initiative by Speakers and heads of African national parliaments to call for total cancellation of the continent’s foreign debt. Many African countries are heavily indebted to industrialised countries and financial bodies that include the International Monetary Fund (IMF) and the World Bank. Consequently, some countries have been failing to meet the human needs of their citizens. Against this backdrop, the Speaker of the Parliament of South Africa, Honourable Thandi Modise, tabled the motion through South…

09 Dec

Govt faces borrowing headache

info_e12wt4csObserver MoneyNico Smit, PDM Treasurer General, Popular Democratic Movement (PDM)

Staff Writer The Popular Democratic Movement (PDM) has warned that the country’s indebtedness is reaching precarious levels, a position which could one day hamper its ability to pay the interest on what is owed. This comes as ratings agency, Moody’s downgraded Namibia’s government debt on Friday from the previous Ba2 rating to Ba3. “The government has become so completely dependent on borrowing, that just one more small external shock will put it in a position where it cannot pay the interest on its debt. This will lead to an automatic downgrade to the ‘C’ category according to Moody’s system, which…

09 Dec

Kapere to get official funeral

info_e12wt4csObserver MoneyMandela Kapere

Staff Writer President Hage Geingob has conferred an Official Funeral on the late Mandela Kapere, Chief Public Relations Officer in the Office of the President, Dennis Shikwambi, confirmed to Windhoek Observer. Kapere, a former Executive Chairperson National Youth Council, served as SWAPO Member of Parliament and Chairperson of Human Resources committee. “Our nation and the Swapo Party lost a talented and dynamic Parliamentarian who played a vital role in shaping the trajectory of youth leadership and the development of young people,” President Geingob said. Kapere died yesterday 7 December, aged 38 of COVID-19.

09 Dec

COVID vaccine to cost Namibia N$200 million …only 20% of population to access drug

info_e12wt4csObserver MoneyCovid-19, Ministry of Health and Social Services Executive Director Ben Nangombe

Andrew Kathindi It has emerged that Namibia must spend around N$200 million on the COVID-19 vaccine that will only be made available to 20 percent of the population. This comes as Ministry of Health and Social Services Executive Director Ben Nangombe revealed that the government, last week, already processed payment for the initial 15 percent of the fee, which came up to N$29 million following Treasury approval. Nangombe told Windhoek Observer that he is unsure when the vaccine is likely to reach Namibia but that it was unlikely to be this year. Given that the vaccine has only been rolled…

08 Dec

Mistreatment in prisons cannot be Namibia’s legacy

info_e12wt4csNational NewsNamibia

Reports from prisoners about ill-treatment while in jail or guards who ‘beat up’ the inmates are very disturbing. Namibia, a country whose most esteemed heroes suffered torture in prison cannot possibly bathe in the hypocrisy of the mistreatment of its prisoners. Officials responsible for inspecting prisons and those providing services to prisoners must be questioned and the truth uncovered. Mistreatment in prisons cannot be Namibia’s legacy. Our leaders that have passed on and those who are still with us know by personal experience what it means to be locked up, vulnerable to a jailor, and treated as if they were…

08 Dec

OBITUARY: Gone too soon – Mandela Kapere

info_e12wt4csUncategorisedformer Executive Chairperson of the National Youth Council (NYC), Mandela Kapere, Member of Parliament

Jackie Wilson Asheeke Mandela Kapere, a Member of Parliament, former Executive Chairperson of the National Youth Council (NYC), husband and father, son of loving parents, friend to many, and a talented younger leader in Namibia, died on the morning of Monday, December 7, 2020. This young man is gone to soon. The late Mandela Kapere wrote articles for the Observer Connect Magazine, a product of the Windhoek Observer. He was always a willing and insightful commentator on national issues. His overall vision, keen intellect, bold vision and self-confidence made him a good columnist and political analyst. This son of the…

08 Dec

Growing relevance of the informal market – how can financial institutions remain relevant?

info_e12wt4csUncategorisedCovid-19, Market Research Manager at FirstRand Namibia

Frans Uusiku The economic landscape has evolved in recent times and is becoming increasingly characterised by changing consumer tastes and preferences around the consumption of goods and services, combined with heightened level of entrepreneurial spirit, especially amongst women and youth in agriculture. These changing dynamics around value chain development across industries have an implication on the role of the banking sector as an important enabler and catalyst for economic growth. The reality is that the proliferation of informal side-line businesses in the form of hawkers, vendors, etc. has increased now more than ever as households seek alternative income sources due…