National News – Page 361 – Windhoek Observer

02 Feb

Retirement funds assets dip in the third quarter of 2022

ObserverNational NewsNamfisa Quarterly Statistical Report, Retirement funds assets dip in the third quarter of 2022

Tujoromajo Kasuto Namfisa Quarterly Statistical Report says that the value of retirement fund assets decreased during the third quarter of 2022 on both a quarterly and annual basis. The authority notes that the quarterly decline in investments is mostly reflected in the negative performances in equity and debt markets due to inflationary and interest rate pressure. Additionally, the report reveals that the geographical allocation of investments also changed during the quarter. “Investments held in the CMA and Africa regions decreased to 19.5 percent and the industry’s domestic investment holdings decreased to 50.6 percent and remained in line with the 45.0…

Stark decline in business<br>registrations – BIPA

01 Feb

Stark decline in business
registrations – BIPA

ObserverNational NewsBIPA Chief Executive Officer Vivienne Katjiuongua, Stark decline in business registrations - BIPA

Martin Endjala The Business Intellectual Property Authority (BIPA) has recorded an overall decline of business registration by 7.3 percent compared to the 2021 calendar year. According to BIPA Chief Executive Officer Vivienne Katjiuongua, BIPA recorded a total 12 666 registrations on its business register for the period of January to December 2022, of which 11 130 are Close Corporations (CC’s) and 1 153 are Companies. She says 318 registrations were for Section 21 Companies (Associations Not For Gain), 49 were defensive names and 16 were foreign companies. This number Katjiuongua said, shows a decline by 7.3 percent from the same…

01 Feb

Omusati flood water still manageable says Governor

ObserverNational NewsErginus Endjala, Governor of Omusati region, Omusati flood water still manageable says Governor

Martin Endjala The Governor of Omusati region, Erginus Endjala says that the current water flow in the region is not yet at an extreme flood level and is manageable. According to Endjala, water pans in the region are however at full capacity due to rainfall received, causing water to flood a few areas the region. Endjala added that those affected by the flood are residents who set up structures at flood prone areas like oshanas. The governor however, cautioned the public to not panic as continuous monitoring of water levels is carried out on a daily basis, with the help…

01 Feb

N$1.4 billion for seed improvement program

ObserverNational NewsN$1.4 billion for seed improvement program, N$1.4 billion Namibia Mechanisation and Seed Improvement Program (NAMSIP)

Tujoromajo Kasuto The implementation of the N$1.4 billion Namibia Mechanisation and Seed Improvement Program (NAMSIP) is set to bring about improved productivity and modernization of agricultural activity through scaled-up deployment of ploughing services and better seeds. According to the Minister of Agriculture, Water and Land Reform, Carl Schlettwein, this is alongside the N$380.1 million Livestock Support Program funded by the European Union. He says the product and post-resettlement financing facilities by AgriBank, are a series of value chain development schemes for cereal, horticulture, poultry, milk, small stock and beef across the country. Schlettwein says that any development, agronomic or otherwise,…

Reduction in road accidents<br>during festive season

01 Feb

Reduction in road accidents
during festive season

ObserverNational NewsMotor Vehicle Accident Fund (MVA), Oshana, Otjozondjupa and Oshikoto, Reduction in road accidents during festive season

Martin Endjala Motor vehicle accidents and injuries related have reduced with 14.4 percent and 17.5 percent respectively, while fatalities have reduced by 42.2 percent compared to the previous festive season road safety campaign period. This is according to the latest 2022/23 festive season road safety report of the Motor Vehicle Accident Fund (MVA). Namibia recorded 403 road crashes in 2022, compared to 471 in 2021. The fund revealed that injuries stood at 766 in 2022 and 928 in 2021, while fatalities stood at 67 in 2022 and 116 in 2021. In addition to this, Oshana,Otjozondjupa and Oshikoto recorded the most…

N$23m worth of summons<br>issued during festive season

31 Jan

N$23m worth of summons
issued during festive season

ObserverNational NewsMajor General Elias Mutota, N$23m worth of summons issued during festive season

Tujoromajo Kasuto The Namibian Police today announced that a total 26 332 summons were issued during the festive season road safety campaign, with a monetary value of N$23 996 708, and 1 312 un-roadworthy vehicles were suspended from further usage. Deputy Inspector-General for Operations, Major General Elias Mutota also revealed at a press conference that a total 1758 criminal cases were recorded countrywide. According to Mutota, 2022/2023 Festive season crime prevention operations recorded various serious crimes, in that a total 1758 criminal cases were recorded countrywide, compared to 1621 criminal cases recorded during the 2021/2022 festive season, which translate to…

31 Jan

Geingob urges SADC leaders to take decisive action to address insecurity in the region

ObserverNational NewsDefence and Security Cooperation, Geingob urges SADC leaders to take decisive action to address insecurity in the region, Southern African Development Community Organ on Politics

Martin Endjala President Hage Geingob in his capacity as the Chairperson of the Southern African Development Community Organ on Politics, Defence and Security Cooperation has urged SADC leaders to take decisive action in addressing issues of insecurity in the region, adding that it is incumbent upon them as leaders of SADC seized with the well-being and welfare of close to 400 million citizens, to reinvent new approaches to find solutions to old problems that have been troubling the region for so long. “I stated on a previous occasion that without peace, development cannot take place and without development we cannot…

31 Jan

Women, Youth and SMEs favored in new procurement code

ObserverNational NewsWomen, Youth and SMEs favored in new procurement code

Tujoromajo Kasuto The Ministry of Finance and Public Enterprise today launched the Code of Good Practice on Preferences, referred to in Sections 71 and 72 of the Public Procurement Act, with the goal of facilitating easier market access for youth, women, small and medium enterprises , and manufacturers, as well as granting national preference to Namibian suppliers. The Code of Good Practice, according to Minister of Finance and Public Enterprise Ipumbu Shiimi, aims to achieve granting exclusive preferences to local suppliers as defined in the recently amended Public Procurement Act through the reservation of certain procurement of goods, works, and…

31 Jan

Traffic warrants amnesty period extended

ObserverNational NewsTraffic warrants amnesty period extended, Viktoria Hango

Martin Endjala The judiciary today said it is extending the amnesty that was granted to all members of the public with pending traffic warrants of arrest to pay admission of guilt fines for a further two months. Persons in this category now have until 31 March 2023 to pay their warrants without any repercussions, this is after the amnesty granted as from 1 November 2022 to 31 January 2023 lapsed. During the period of amnesty, an accused with a pending warrant of arrest must appear in Court. Accused persons who intent to pay admission of guilt fine, are allowed to…

31 Jan

Weak, uncertain global outlook a risk to economy

ObserverNational NewsRand Merchant Bank’s (RMB), uncertain global outlook a risk to economy, Weak

Staff Writer The global economy will contend with slower economic growth in 2023 according to the Rand Merchant Bank’s (RMB) Africa Year-ahead Outlook. A recessionary environment is expected and both the IMF and World Bank have slashed their growth forecasts materially owing to elevated interest rates, deteriorating financial conditions and a slowdown in growth-enhancing investments. Similarly, the Russia-Ukraine war remains the key geopolitical risk, the effects of which are costly to the global economy. “The weak global outlook presents a key risk to external demand for mining commodities and tourist services. We therefore expect GDP growth to moderate from 4.1%…