Observer Money

Govt fails own tourism rescue deadline
15 Jul

Govt fails own tourism rescue deadline

ObserverObserver Money, ,
Andrew Kathindi The government is yet to pronounce itself on the protocols for the tourism revival initiative, a day before the sector is supposed to open up. Last month, as part of measures to migrate to Stage 4 of the state of emergency and save the tourism sector, President Hage Geingob announced that Government in collaboration with the Tourism and Hospitality sector will conduct a targeted International Tourism revival initiative between 15 July to 15 August 2020. However, nearly a month on, and following detailed consultations with the industry, the government has yet to give the green light to open…
Read More
Venaani demands answers from Noa
15 Jul

Venaani demands answers from Noa

ObserverObserver Money, ,
Staff Writer Popular Democratic Movement (PDM) leader McHenry Venaani has written to the Anti-Corruption Commission (ACC) demanding to know why no action has been taken against high profile individuals who are alleged to have also played a key role in the Fishrot saga. This comes as the Windhoek Observer in April revealed that no extradition request had been sent for lawyer, Marén de Klerk, who is currently moving around freely in South Africa. De Klerk is alleged to have played a key role in the syphoning of funds to the tune of N$50 million from the National Fishing Corporation of…
Read More
2016 decision haunts transparency calls
13 Jul

2016 decision haunts transparency calls

ObserverObserver Money,
...as Swapo cites lack of regulations Andrew Kathindi It appears that a decision taken by political parties in 2016 not to reveal the source of their donations has come back to haunt them, four years later. This comes amid increased calls for the Swapo party to be transparent with its source of funds. The ruling party has been implicated in the Fishrot saga. In 2016, following the amendment of the Electoral Act of 2014, political parties unanimously decided to leave out the disclosing of the source of their donations exceeding a prescribed amount as per the Act, after a workshop…
Read More
DBN suspends three more over loans scandal
13 Jul

DBN suspends three more over loans scandal

ObserverObserver Money,
Staff Writer The Development Bank of Namibia (DBN) has announced that three more employees have been suspended, bringing the total to seven employees that have been fingered for their involvement in a loans scandal that has rocked the bank. This comes as the DBN Spokesperson Di-Anna Grobler revealed that the bank was close to concluding its investigations. “If there are alleged irregularities, the Bank will follow through with investigation on the matter and take appropriate steps to ensure that the integrity of the Bank is preserved,” she said. The development at the bank comes after media reports revealed senior officials…
Read More
PDM to appeal High Court ruling
13 Jul

PDM to appeal High Court ruling

ObserverObserver Money,
…as Venaani digs into judiciary Staff writer Popular Democratic Movement (PDM) has announced that it will appeal a Monday High Court ruling against the party and the Electoral Commission of Namibia (ECN’s) over their decision to remove candidates from the list of members to be sworn in the National Assembly. Charmaine Tjirare and Hidipo Hamata had challenged the ECN’s decision to accept a revised list of members to be sworn in the National Assembly after the November 2019 elections after the PDM submitted a new list, removing six candidates and replacing them with six who were not on the list…
Read More
Namibia records first COVID-19 related fatality
10 Jul

Namibia records first COVID-19 related fatality

ObserverObserver Money, ,
Staff Writer Namibia has recorded its first COVID-19 related death after a 45-year old male died on Wednesday the 8 July, three days after presenting himself at the Walvis Bay State Hospital. This comes as it emerged the deceased was only tested for the virus after he died. He had complained of dizziness, difficulty in breathing and a cough three days after he was previously seen at a health care facility. “On the 6th July 2020, the patient’s condition deteriorated. The patient complained of respiratory ailment. He showed signs of severe renal failure and sepsis. On the 8th July 2020…
Read More
Nothing wrong with Marine Act changes – Kawana
10 Jul

Nothing wrong with Marine Act changes – Kawana

ObserverObserver Money, ,
Andrew Kathindi Fisheries minister, Albert Kawana maintains he still supports the actual amendments made to the country’s Marine Resources Act of 2000 that was perverted by those accused in the Fishrot scandal. He qualifies his support by saying the problem was that the controversial legal changes were eventually used for corrupt practices. This comes as Former Fisheries Minister, Bernard Esau in cahoots with former Justice minister Sackey Shanghala, quickly pushed to have the Marine Resources Act amended in 2015, giving Esau powers to allocate fishing quotas to Fishcor, which in turn ended up in the hands of Icelandic fishing company,…
Read More
NPTH appoints subsidiary boards
10 Jul

NPTH appoints subsidiary boards

ObserverObserver Money, , , ,
. . . as Festus Hangula is re-appointed at NamPost Staff Writer The Namibia Post & Telecom Holdings (NPTH) has appointed temporary subsidiary Boards for a period of three months, effective 08 July 2020 until 08 October 2020. NPTH is the 100 percent shareholder of Telecom Namibia Limited (Telecom), Namibia Post Limited (NamPost) and Mobile Telecommunications Ltd (MTC). “The temporary appointments were based on the required skills blend, individual qualifications, industry expertise and technical knowledge, which factors informed the composition of the said Boards. The skills and experience of these individuals complements the current Boards, which are set for companies…
Read More
Govt to find sources for sovereign wealth fund
10 Jul

Govt to find sources for sovereign wealth fund

ObserverObserver Money, ,
Andrew Kathindi The Finance ministry has indicated that it will soon begin the process of looking for sources of funding for the sovereign wealth fund proposed by Finance Minister, Iipumbu Shiimi. A sovereign wealth fund is a fund owned by the state tasked with managing a nation’s savings. It is typically composed of various investments. This comes as the Finance ministry submitted a proposal to cabinet for its establishment. This proposal was approved last month. Finance Ministry Spokesperson, Tonateni Shidhudhu, stated that the aim of the will be to strengthen the national responsiveness capacity to mitigate the negative impacts of…
Read More
Telecom’s millions still stuck in Angola
10 Jul

Telecom’s millions still stuck in Angola

ObserverObserver Money, ,
Andrew Kathindi More than 16 years on, Telecom Namibia is still to recoup its millions invested in the failed Mundo Startel deal. Telecom then led by Frans Ndoroma, announced in 2004 that it had acquired a 44 percent stake in Angola’s Mundo Startel worth US$14 million (N$91 million at the time), in a bid to break into the Angolan market. The investment was a failure and in 2011 the company announced it was exiting the market and putting its 44 percent stake in Mundo Startel up for sale. The remaining 56 percent of the Angolan telecommunication company were owned by…
Read More
Like Us
Follow Us
Subscribe Us
Follow Us
LinkedIn