Observer Money – Page 190

26 Sep

GIPF appoints UK consultants…as RisCura loses contract

info_e12wt4csObserver MoneyGovernment Institutions Pension Fund (GIPF)

Staff Writer The Government Institutions Pension Fund (GIPF) has announced the appointment of two new United Kingdom based investment consultants. According the fund, Lane Clark & Peacock LLP will consult on investments, while BFinance UK Limited, will consult on the selection/search of asset managers. “Lane Clark & Peacock LLP will consult on investments, while BFinance UK Limited, will consult on the selection/search of Asset Managers. Both entities are domiciled in the United Kingdom and both bring a wealth of financial and investment expertise to the Fund. The selection process, which was advertised late last year, was guided by, and in…

26 Sep

ECN won’t investigate illegal voter registration

info_e12wt4csObserver MoneyElectoral Commission of Namibia (ECN)

Andrew Kathindi The Electoral Commission of Namibia (ECN) has ruled out investigating allegations that Angolan nationals are being illegally registered as voters, a move which opposition political parties have said will impact on the credibility and outcome of elections. The decision by the ECN flies in the face of a confirmation by Swapo Omusati regional coordinator Sackey Kayone that he had received a report detailing how Angolan nationals are being registered in his area. According to Kayone, the report from the Okalongo councilor has fingered church leaders and ECN officials for assisting Angolan nationals to get voting cards. When quizzed…

26 Sep

State assets valued at N$11.9 billion…as Shiimi admits non-compliance

info_e12wt4csObserver MoneyFinance Minister Iipumbu Shiimi, Government

Andrew Kathindi The Namibian government has assets worth N$11.9 billion as of 16 September, Finance minister Iipumbu Shiimi has revealed. Of this, the state has movable assets amounting to N$3.9 billion, which include stock, equipment, furniture and vehicles while immovable assets, including land, plants (factories) and buildings stand at N$7.9 billion. The combined total value of movable and immovable assets is N$11.9 billion. The government’s value of immovable asset consists of 692 farming units and 744 housing units. “With regards to resettlement farms, to date Government has spent about N$2.3 billion to acquire about 558 farming units measuring about 3,376,965…

25 Sep

Sam Shivute vows zero tolerance for tax avoiders …as NamRA Act is still to be enacted

info_e12wt4csObserver MoneyNamibia Revenue Agency (NamRA), Sam Shivute

Andrew Kathindi Newly appointed Namibia Revenue Agency (NamRA) Commissioner, Sam Shivute has vowed zero tolerance for tax avoiders. He said he would not be intimidated in his pursuit of tax collection. This comes six years after it was alleged that Shivute’s tenure as the Commissioner for Inland Revenue in the Finance ministry came to an end when he pursued certain non-tax-compliant business people. It is alleged that he received personal threats as a result. “In NamRA, integrity and good ethics will be non-negotiable and there will be zero tolerance to corruption. We will endeavour to have the right staff, with…

25 Sep

Twaloloka residents to receive houses by October

info_e12wt4csObserver MoneyMinister of Urban and Rural Development, Ministry of Finance, Office of the Prime Minister, Twaloloka

Helena Johannes Information minister, Peya Mushelenga has announced that Cabinet has given the municipality of Walvis Bay until the last week of October to ensure the occupation of housing units which were allocated to Twaloloka beneficiaries. Mushelenga said Cabinet has mandated the Ministry of Urban and Rural Development to oversee the implementation of the relocation of programme, supported by the Walvis Bay municipality and the office of the Governor of the Erongo Region. “The Cabinet is in line with sourcing of service providers on an emergency basis to implement the project, while the beneficiaries would contribute to the construction of…

25 Sep

Govt gazettes new regulations

info_e12wt4csObserver MoneyHealth Minister Kalumbi Shangula

Andrew Kathindi New regulations that will guide how Namibians will live under the new normal have finally been gazetted, following the lapse of the state of emergency, last week. Health Minister Kalumbi Shangula will now be empowered under Section 29 of the Public and Environmental Act to implement regulations which were initially set to come into effect on the 18th of September. “The drafting of the Regulations took longer than anticipated due to the nature and number of legal issues that requires thorough consideration,” Attorney General, Festus Bandeka told Windhoek Observer. The new regulations came into operation at midnight on…

24 Sep

Father arrested for raping daughter …as rape cases spike

info_e12wt4csObserver MoneyCity Police, Khomasdal, Windhoek

Helena Johannes A Windhoek man was arrested on Tuesday for repeatedly raping his now 16-year-old daughter since she was 11 years old. Rape cases or the reporting of rape cases are on the rise in Namibia. According to the City Police the female victim, during the five year period, has had two abortions due to the abuse at the hands of her biological father. The arrest comes after the victim’s mother found out the rape and opened a case, resulting in the father’s arrest. In another incident, a 13-year-old was raped by her aunt’s husband in Khomasdal on Tuesday. According…

24 Sep

Finance ministry extends tax registration deadline

info_e12wt4csObserver MoneyIntegrated Tax Administrative System (ITAS), Ministry spokesperson, Tax Returns (ETX template/excel sheer), Tonateni Shidhudhu

Helena Johannes The Ministry of Finance has extended the submission deadline for annual individual income tax returns from 30 September to 1 March 2021. Ministry spokesperson, Tonateni Shidhudhu said the extension was being done in order to “allow more time to employers who did not submit their employees Tax Returns (ETX template/excel sheer) on the Integrated Tax Administration System portal,” adding that the extension only applies to the filing of returns, not for the payment of tax which is still due by 30 September. This comes after the finance ministry only managed to register 24 percent out of its 90…

24 Sep

Redforce, Keetmans deal spills into court …as council claims shoddy work

info_e12wt4csObserver MoneyKeetmashoop municipal council, Redforce Debt Management

Andrew Kathindi Keetmanshoop Chief Executive Officer (CEO), Desmond Basson stands accused of having single handedly awarded a debt collection tender to Redforce Debt Management in 2017. The City Council has claimed this was done without approval. This comes as Basson is currently threatened with a disciplinary hearing by the council on charges of gross negligence and non-compliance with the Local Authority Act in another matter. The revelation comes as Redforce Debt Management has taken the southern town council to court demanding the payments of N$1.6 million, N$1.8 million and 20 percent interest on each payment. According to court documents in…

23 Sep

Bureaucracy derails Rent Control Board

info_e12wt4csObserver MoneyMinistry of Urban and Rural Development (MURD)

Clifton Movirongo Five years on, government has yet to operationalise the Rent Control Board, as the process is still unresolved. This comes amid revelations that the process of transitioning the rent board from the Ministry of Industrialisation and Trade (MIT) to the Ministry of Urban and Rural Development (MURD) is still to be concluded. Even though the process of the rent board has taken half a decade, the government claims to be committed to it. “We are in the process with the MIT, they are putting all the logistics together and that is not finalised yet,” said urban and rural…