National News – Page 326 – Windhoek Observer

18 Mar

Namibia launches Central Securities Depository to boost stock market efficiency

National News

Niël Terblanché In a significant development for Namibia's financial market, the Namibia Financial Institutions Supervisory Authority (Namfisa) has announced the approval of the Central Securities Depository (CSD). According to Victoria Raimond, spokesperson of Namfisa, the approval of a CSD is set to revolutionize stock trading in the country. She added that the establishment of the CSD aims to provide a centralized platform for the holding, safekeeping, and settlement of securities such as shares, bonds, and other financial instruments in electronic form, thereby enhancing market efficiency and liquidity. Owned jointly by the Bank of Namibia and the Namibia Stock Exchange, the…

18 Mar

MIT and MWT warn against bogus international bidding scheme

National News

Hertta-Maria Amutenja The Ministry of Industrialisation and Trade (MIT) and the Ministry of Works and Transport (MWT) have issued a stern caution to the public regarding a fraudulent bid invitation circulating in the public domain. Under the guise of legitimate government initiatives, this fraudulent scheme has been soliciting funds from both local and international investors, posing significant risks to unsuspecting individuals and organisations. The deceptive bid invitation, purportedly under the provisions of the Public Procurement Act 15 of 2015, falsely claims to invite international bidders for the construction of substantial developmental projects. These projects include the construction of 2,500 and…

18 Mar

New road on Impalila Island nears completion

National News

Niël Terblanché The 25-kilometer road network project on Impalila Island is drawing to a close, marking a significant milestone in the Zambezi Region's infrastructure development. The Roads Authority Chief Executive Officer, Conrad Lutombi, confirmed that the road would be inaugurated soon, heralding a new era of economic development and accessibility for the island. The road construction project, which employed over 135 locals, showcases innovative engineering with the construction of larger bridges to facilitate animal crossings, and the use of a low-volume seal standard to reduce maintenance costs. The initiative is celebrated as a beacon of economic progress, expected to attract…

18 Mar

Gondwana Collection announces two new luxurious retreats

National News

Niël Terblanché In an exciting expansion of their Secret Collection, Gondwana Collection Namibia proudly introduces two new exclusive retreats, The Ekipa and The Nest, designed to offer guests unparalleled luxury experiences in the heart of Africa's most enchanting landscapes. According to Gys Joubert, the Chief Executive Officer of Gondwana, these additions are set to redefine romantic and private wilderness experiences when the luxury retreats are set into operation on 1 November 2024. He indicated that The Nest will be located amidst the striking red dunes of the Kalahari Desert, just 30 kilometres northeast of Mariental. The retreat is envisioned as…

17 Mar

High number of youth deaths during road crashes worries MVA Fund

National NewsHigh number of youth deaths during road crashes worries MVA Fund

Martin Endjala The Motor Vehicle Accident Fund’s (MVA) Chief Executive Officer, Rosalia Martins-Hausiku said the Fund is concerned by the high number of young people aged between 18 to 35 who lost their lives in road accidents during 2023. Martins-Hausiku speaking was during the bi-annual media engagement last week in Windhoek. She said young people make up the highest number of the Namibian population which is 71 percent as announced last week by the Namibian Statistic Agency, and the likelihood of them getting involved in road crashes is high. The CEO said the statistics of crashes involving that demographic were…

17 Mar

High Court reserves ruling in FlyNamibia Aviation’s license renewal dispute

National NewsHigh Court reserves ruling in FlyNamibia Aviation’s license renewal dispute

Niël Terblanché Judge Esie Schimming-Chase in the High Court of Namibia has postponed the decision regarding the dispute between FlyNamibia Aviation, the Transportation Commission of Namibia, and the Minister of Works and Transport. The judge postponed the matter for the delivery of her findings later today. FlyNamibia sought urgent judicial intervention to address the Transportation Commission's refusal to renew its Scheduled Air Transport Service License, a decision made on 7 March 2024. The airline's application, heard on 15 March 2024, challenges the Commission's decision, arguing for the urgency of the matter due to the significant impact on its operations and…

17 Mar

Namcor distances itself from N$1 million fuel theft suspects

National NewsNamcor distances itself from N$1 million fuel theft suspects

Martin Endjala National Petroleum Corporation (Namcor) has denied that suspects who were recently arrested for the theft of fuel valued at N$1 million are in its employ. Namcor’s Marketing, Communications and Publication Relations Manager Paulo Coelho, while giving an update on the matter last week, said Namcor has been informed that there have been additional arrests, however, the arrested individuals are not associated with the company. "We're aware of the ongoing investigation by the Namibian Police. However, at this stage, we have no information that implicates any Namcor employees. It is our policy not to comment on ongoing investigations to…

17 Mar

President Mbumba engages Northern traditional leaders

National NewsPresident Mbumba engages Northern traditional leaders

Niël Terblanché President Nangolo Mbumba met with leaders of the eight northern traditional authorities at Oshakati to solidify his relationship with the region's custodians of tradition and formally announce his incumbency as Head of State. The meeting also served as a platform for the President to inform the leaders of his commitment to unity and cooperation and to address pressing environmental and agricultural challenges facing the northern regions. Elenga Enene Herman Iipumbu, chairperson of the eight traditional authorities and representative of the Uukwambi Traditional Authority, conveyed the region's concerns to the President. The foremost issue highlighted was the inadequate rainfall…

17 Mar

Shifeta calls for collective action to mitigate the impact of drought

National NewsShifeta calls for collective action to mitigate the impact of drought

Niël Terblanché During the Commemoration of World Wetlands Day and World Water Day 2024 in Opuwo, Kunene Region, the Minister of Environment, Forestry and Tourism, Pohamba Shifeta, emphasized the severe impact of prolonged drought on both conservation efforts and the livelihoods of local communities. With the themes "Wetlands and Human Wellbeing" and "Leveraging Water for Peace," the minister stressed the critical challenges faced by the region since 2012, punctuated by only sporadic good rainy seasons. Shifeta, while addressing a gathering of community members, shed light on the dire water scarcity impacting the Kunene Region, noting a concerning trend of boreholes…

17 Mar

Pipeline nears completion as Kunene battles drought

National NewsPipeline nears completion as Kunene battles drought

Niël Terblanché In an effort to address the perennial water scarcity in the Kunene Region, the Namibian Government's Ohamaremba-Okangwati Pipeline project has achieved a remarkable 79 percent completion rate. The Minister of Agriculture, Water, and Land Reform, Calle Schlettwein, announced that the pipeline, set to be fully operational by July, will supply potable water to the Okanguati settlement from the Ohamaremba aquifer, heralding a new era of water accessibility in the region. The minister made the revelation during the dual Commemoration of World Wetlands Day and World Water Day 2024, held in Opuwo, under the banners of "Wetlands and Human…