Observer Money – Page 149 – Windhoek Observer

19 May

Public service wage bill to cost N$29 billion this year

ObserverObserver MoneyGovernment, Iipumbu Shiimi, Minister of Finance

Kandjemuni Kamuiiri It has emerged that Namibia will fork out a total of N$29 billion for salaries and benefits for its civil service this year, which translates into about N$2.4 billion monthly. According to the Minister of Finance, Iipumbu Shiimi, “annually we spend N$29 billion and if you divide that by 12 it would roughly be N$2,4 billion to N$2,5 billion monthly, same goes for last year. It’s more or less the same.” This revelation has raised concern whether Government could afford it considering its precarious financial position, with the minister maintaining that Government will still continue to honour bonuses,…

18 May

‘Rushed’ genocide deal questioned

ObserverObserver MoneyGenocide, German, Nama, Namibia, Ovaherero

Kandjemuni Kamuiiri Concerns have been raised around the agreement reached between Namibia and Germany over the Nama and Ovaherero genocide reparations. This is amid concerns the imminent deal was rushed and might not come out in the best interest of Namibia after almost six years of negotiations. According to political analyst, Henning Melber, the announced agreement set to be signed in two weeks’ time, will be in the best interest of Germany, as it brings the negotiations to a close ahead of the country’s elections scheduled for September. “This might not have been in the best strategic interest of the…

18 May

LPM lodges Supreme Court appeal

ObserverObserver MoneyBernardus Swartbooi, Henny Seibeb, Landless People’s Movement, Peter Katjavivi, president Hage Geingob

Andrew Kathindi The Landless People’s Movement (LPM) has lodged an appeal against the Supreme Court a decision by High Court Judge Kobus Miller, to dismiss its leader, Bernardus Swartbooi, and Henny Seibeb’s application against Speaker of Parliament, Peter Katjavivi. The application was to set aside Katjavivi’s indefinite suspension of the two LPM leaders from Parliament’s Chamber following their forceful removal after being deemed disruptive during President Hage Geingob’s parliamentary state of the nation address last month. The High Court dismissed the application with costs. The appeal was lodged last week on 12 May. The LPM legal representatives argued that Judge…

18 May

Namibia in push to legalise homosexuality

ObserverObserver MoneyJustice Minister, Law Reform and Development Commission (LRDC), Yvonne Dausab

Andrew Kathindi The Namibian Government is forging ahead with plans to terminate a law that has made the practice of homosexuality in the country illegal. The development could see the particular law being overturned before the end of the year. Justice Minister, Yvonne Dausab , confirmed to Windhoek Observer that she has committed to submit draft regulations to Cabinet in two weeks at the deliberative meeting. “After which it will go through the normal law-making process: principal approval from Cabinet, scrutiny from the Cabinet Committee on Legislation (CCL), possible further discussions with the Law Reform and Development Commission (LRDC), certification…

14 May

Qatar backed fund buys Safari Hotels

ObserverObserver MoneyKasada Capital Management, Namibian Competition Commission, Qatar Investment Authority

Staff Writer Kasada Capital Management, a fund backed by the Qatar Investment Authority, the sovereign wealth fund of the State of Qatar, and French hospitality group, Accor, has announced its acquisition of the Safari Hotels and Conference Centre in Windhoek for an undisclosed amount. The transaction, which is still subject to approval by the Namibian Competition Commission, will be made through Kasada Hospitality Fund LP. The acquisition comes as the 55-year-old, 414 room hotel and conference venue, has been on the market after a failed 2018 bid by United Africa Group to acquire JH Hamman Beherende Beleggings, the holding company…

14 May

ReconAfrica illegally drilling

ObserverObserver MoneyKavango East, Kawe village, ReconAfrica

Andrew Kathindi It has emerged that ReconAfrica, a Canadian company that has been undertaking controversial oil drilling at Kawe village, in the Kavango East,has been operating without water permits. This was confirmed to Windhoek Observer by Minister of Agriculture, Water, and Land Reform, Calle Schlettwein. According to Maggy Shino, the Petroleum Commissioner at the Ministry of Mines and Energy, the company needs a water permit before commencing with its business, even if an oil and gas exploration licence is granted. ReconAfrica announced on January 11 that it had commenced drilling operations on the first well (6-2), and recently mobilised its…

12 May

Namibia secures N$1.8 billion German loans

ObserverObserver MoneyGerman Ambassador, Germany, Herbert Beck, Iipumbu Shiimi, Minister of Finance, Namibia

Kandjemuni Kamuiiri Namibia and Germany on Tuesday signed a N$ 1.8 billion loan agreement, which will fund three programmes in the areas of water, infrastructure and food production. Minister of Finance, Iipumbu Shiimi, and German Ambassador, Herbert Beck, signed the agreements on behalf of their respective countries. According to Shiimi, financing will be provided by interest-reduced loans in local currency, thereby securing favourable credit conditions for the Government of Namibia. “These projects will support the development of important water and other climate related infrastructure projects in Namibia, and the promotion of agricultural households and micro, small and medium-sized enterprises through…

12 May

Billionaire denied bail

ObserverObserver MoneyHarvey Boulter

Rose-Mary Haufiku Murder accused British billionaire, Harvey Boulter (51), has failed in his bail attempt on Tuesday at the Outjo Magistrates’ Court. Despite a spirited attempt, which also included supporting testimony from a Clinical psychologist, and from the family members of the deceased, Boulter was denied bail and remanded in custody at the Kamanjab Police cells. Boulter stands accused of allegedly shooting his employee (a manager at his farm) Gerhard van Wyk (54) in February after he attempted to seek sexual favours from van Wyk’s daughter in law. He is also facing additional charges of defeating/obstructing the course of justice,…

12 May

Jooste to defy Cabinet directive

ObserverObserver MoneyLeon Jooste, Namibia Industrial Development Agency (NIDA), Social Security Commission, State-Qwned Enterprises

Andrew Kathindi Public Enterprises (Pes) Minister, Leon Jooste, could defy a Cabinet directive less than a month after it came into force if he moves ahead to extend the current Fishcor temporary board’s term without any changes to its composition. The Cabinet directive states that Chief Executive Officers (CEOs) of State-Qwned Enterprises (SOEs) may not serve on the boards of other SOEs. This comes as Jooste confirmed to Windhoek Observer that he plans to extend the terms of the current Fishcor temporary board made up of two heads of SOEs, Heinrich Mihe Gaomab II, who was on 1 May appointed…

11 May

Namibia spends over N$1 billion on Covid-19

ObserverObserver MoneyBen Nangombe, Covid-19, Ministry of Health and Social Services (MOHSS)

Kandjemuni Kamuiiri Namibia has officially spent over N$1 billion up to date in its fight against Covid-19, Ministry of Health and Social Services (MoHSS) Executive Director, Ben Nangombe, revealed. According to information from MoHSS, N$747 million was spent last year on Covid-19, with N$458 million so far spent this year on vaccines. “We had a budget of N$747 million, that budget was executed for 2020. For now we have the resources provided in the budget of the Ministry of Health and Social Services but it’s not for Covid-19 in specific. It is for the response generally to health care. That…