National News – Page 276

01 Mar

Green Hydrogen Programme unveils groundbreaking initiatives

info_e12wt4csNational NewsGreen Hydrogen Programme unveils groundbreaking initiatives

Hertta-Maria Amutenja The Namibia Green Hydrogen Programme (NGHP) unfurled an array of groundbreaking initiatives set to transform the nation’s energy landscape this year. In a strategic move, NGHP announced the appointment of seven seasoned executives, reinforcing its commitment to visionary leadership. James Mnyupe, Namibia’s Green Hydrogen Commissioner, is the driving force behind these developments. He expressed confidence in the team’s ability to oversee ambitious program initiatives. Mnyupe, at the forefront of transparency, affirmed that NGHP will continue its high-profile, in-person media briefings. The first of 2024 is scheduled for the last week of March where details of the comprehensive three-year…

01 Mar

Economic diversification can offset challenges

info_e12wt4csNational NewsEconomic diversification can offset challenges

Niël Terblanché Namibia is committed to economic diversification as a fundamental pillar of the country’s fiscal and economic policy. This became evident when the Minister of Finance and Public Enterprises, Iipumbu Shiimi tabled the 2024/2025 National Budget in the National Assembly. Amidst projections of economic recovery, the government is poised to continue its pursuit of a more diversified economy through the implementation of its Economic Diversification Strategy while also seamlessly integrating it into the forthcoming Sixth National Development Plan. Shiimi stated that the reality of the anticipated economic upturn, primarily fueled by positive trends in the natural resources sector, is…

01 Mar

SMEs innovatively empowered through the distribution of drought relief

info_e12wt4csNational NewsSMEs innovatively empowered through the distribution of drought relief

Niël Terblanché The Office of the Prime Minister has unveiled plans to uplift Small and Medium Enterprises (SMEs) across Namibia by integrating them into the country’s drought relief efforts. This groundbreaking initiative, set to commence in April, aims to harness the potential of local SMEs. The programme will enable SMEs to become key suppliers of essential drought relief food items such as cooking oil, canned fish, and flour within their respective communities. The strategy, which represents a collaborative effort between the Khomas Regional Council, the business community, and the Office of the Prime Minister, seeks to empower local vendors by…

29 Feb

Namibia must shed ‘Tax Haven’ label

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Niël Terblanché The Namibian Government has announced plans to phase out its Export Processing Zones (EPZ) in favour of establishing Special Economic Zones (SEZ) in a significant policy shift aimed at revitalizing its international economic reputation. This strategic move, revealed by Minister of Finance and Public Enterprises, Ipumbu Shiimi, during the National Budget announcement in Parliament, comes in the wake of the European Union (EU) blacklisting Namibia as a tax haven. According to Shiimi, the Special Economic Zones (SEZ) Bill, earmarked for introduction in the National Assembly in the 2024/25 financial year, is a proactive approach by the government to…

29 Feb

Questions surround minimal funds allocated for combat corruption

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Martin Endjala Economist and Independent Bank Researcher, Josef Sheehama, has decried the amount of N$106 million allocated to the Anti-Corruption Commission (ACC) by the Ministry of Finance and Public Enterprise. During the tabling of the National Budget in the National Assembly on Wednesday, Finance Minister Iipumbu Shiimi announced a 29.8 percent increase in the annual allocation to the ACC. The minister said the increase in funds is aimed at improving the ACC’s implementation capacity, particularly in the areas of combating anti-money laundering and financial crimes. The minister said, that despite the recent greylisting of Namibia by the Financial Action Task…

29 Feb

NWR offers a 60 percent discount to locals

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Martin Endjala As of 1 March 2024, all lodges under the management of the Namibia Wildlife Resorts (NWR) will offer a discount of 60 percent for local visitors to make it easier for them to experience the diverse landscapes and unique wildlife that Namibia has to offer. NWR Spokesperson, Nelson Ashipala, stressed the organisation's commitment to making domestic travel more accessible to Namibians. "Through our recent engagements with the public, we came to recognise the genuine concerns regarding the affordability of leisure travel," Ashipala stated. He said the special is open to all travellers, however, the hope is to see…

29 Feb

Capricorn Group reports a profit of N$827 million

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Martin Endjala Capricorn Group has recorded solid results with profit after tax for the six months ended 31 December 2023, increasing by 18.5 percent to N$827.6 million, compared to a profit after tax of N$698.2m that was reported in the comparative period in the prior year. This represents an increase of 19.4 percent in earnings per share to 152.4 cents. The annualised return on equity at half year increased from 16.6 percent to 16.8 percent. This announcement was made by Capricorn Group Chief Executive Officer Thinus Prinsloo this week. Prinsloo said the Group's strong performance is attributable to loan book…

29 Feb

Disaster management and food security strengthened with new MoU

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Martin Endjala To reinforce Namibia's disaster risk management and food and nutrition security the Office of the Prime Minister and the World Food Programme (WFP) signed a Memorandum of Understanding (MoU) to implement a durable strategy aimed at building increased resilience. In this regard, the Executive Director in the Office of the Prime Minister, I-Ben Nashandi, and Dr George Fedha from the WFP signed the agreement earlier this week. The agreement is aimed at unyielding collaboration aimed at enhancing early warning systems, digitalizing food assistance through an electronic voucher system, and implementing a durable strategy for building resilience against food…

29 Feb

Tax relief injects N$646m into taxpayers’ pockets

info_e12wt4csNational NewsTax relief injects N$646m into taxpayers’ pockets

Martin Endjala Minister of Finance and Public Enterprises, Iipumbu Shiimi has announced that government will inject N$646 million directly into taxpayers’ pockets. This means all individual taxpayers will be exempted from paying tax on the first N$100 000 per annum, of their first income as of 1 March 2024. This follows the tabling of the National Budget for the 2024/25 Financial Year in the National Assembly yesterday. The budget for the year under review stands at N$100.1 billion, which is a 12 percent increase from the previous year, under the theme Continuing the Legacy of late President Hage Geingob by…

29 Feb

Old-age grant boosted with N$200

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Hertta-Maria Amutenja Minister of Finance and Public Enterprises, Iipumbu Shiimi has announced the increase in the Old Age Grant and Disability Grant. The monthly grant will rise from N$1 400 to N$1 600. “Accordingly, the Old Age Grant and the Disability Grant will be increased from N$1,400 to N$1,600 per month effective on 01 April 2024,” said Shiimi. The minister made the announcement during the unveiling of the 2024/25 Financial Year Budget in Parliament yesterday under the theme, “Continuing the legacy of H. E. Dr. Hage G. Geingob by Caring for the Namibian Child”. This comes after late President Hage…