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Martin Endjala The Government Institutions Pension Fund (GIPF) has recorded an increase in its asset value of N$151 billion for the 2023 financial year, compared to N$147 billion recorded in 2022. GIPF’s Chief Executive Officer, Martin Inkumbi announced this during the launch of the integrated annual report year ended 31 March 2023. Inkumbi said the Fund’s investment return has increased by 7.7 percent to N$6.5 billion, compared to an increase of 10.8 percent (N$11.6 billion) in the prior year. Adding that the increase is attributed mainly to favourable investment returns during the period under review. The Fund has N$110 billion…

Hertta-Maria Amutenja The recently released Anti-Corruption Commission (ACC) Annual Report for the 2022/2023 financial year reveals a significant surge in corruption cases compared to the previous year. At the same time, the report also revealed that several investigations into cases of corruption are still incomplete. During the financial year under review, a total of 142 cases were registered with the ACC, marking a notable increase of 32 cases from the preceding year. Of these, 66 cases were investigated, while 67 were declined due to reasons such as lack of substance, vague information, or unfounded allegations. Additionally, nine cases were referred…

Hertta-Maria Amutenja The National Assembly's (NA) financial records have revealed the continuous payments to Dynamic Mobile Solution, a telecommunication company, for services rendered over a staggering 13-year period despite the expiration of their contract. According to an audited financial report of NA, for the financial year ended 31 March 2023, conducted by Auditor–General, Junias Kanjeke, unauthorised payments amounting to N$618 654.11 for the financial year under review. The report shows that the contract was initially signed in 2009 to provide short message services (SMS) and maintain an agreement with the mobile service provider. However, the contract expired on 30 April…

Martin Endjala The Minister of Industrialisation and Trade, Lucia Iipumbu, said that the drafted Special Economic Zone Bill (SEZ), has the potential to shape the economic landscape of the country and pave the way for significant growth and development. She said the concept of Special Economic Zones has proven to be a catalyst for economic transformation in various parts of the world. She added that by creating designated areas with favourable business conditions and incentives, the government aims to attract both domestic and foreign investments, foster innovation, and generate employment opportunities. “Today, we embark on a journey to tailor this…

Martin Endjala The Inspector General of the Namibian Police, Lieutenant General Joseph Shikongo, called on the Southern African Development Community (SADC) to forge strong alliances to combat Transnational Organised Crime in the region. He cautioned that organised crime syndicates have gone global and are now spawning their criminal activities across various nations, thereby collapsing borders in the process. Shikongo said this at the official opening of the National Stakeholders Consultative Meeting to Support the Development of Namibia's Strategy on Combating Transnational Organised Crime (TOC) in Windhoek yesterday. The meeting aims to operationalise the implementation of the SADC Integrated Strategy and…