Observer Money – Page 198

12 Aug

ECN appeals PDM list ruling

info_e12wt4csObserver MoneyECN, Electoral Commission of Namibia, Popular Democratic Movement (PDM), Theo Mujoro, Windhoek Observer

Andrew Kathindi The Electoral Commission of Namibia (ECN) has on Tuesday appealed the High Court’s ruling on the amendment of the Popular Democratic Movement (PDM) parliamentary list. This comes after ECN boss Theo Mujoro previously told Windhoek Observer that the commission did nothing wrong. Government Attorney, Mati Asino, who represents the ECN, confirmed the decision to appeal the ruling. “Our client gave us instructions to appeal because they strongly feel that they have good prospect of success. We are not just appealing for the sake of appealing, there’s good reason why, and those will be presented in court,” he told…

12 Aug

NSFAF rocked by impropriety claims

info_e12wt4csObserver MoneyEducation, Itah Kandji-Murangi, Nabbot Uushona, NSFAF

Staff Writer Higher Education, Training and Innovation minister, Itah Kandji-Murangi on Tuesday said she will summon the Namibia Students Financial Assistance Fund (NSFAF) board and management to explain various allegation of impropriety at the fund. This comes as a letter written by a concerned staff member making rounds, raised various allegations against the organization, including cases of staff victimization, corruption and wasteful expenditure running into millions. “I have received the letter from the Acting Chief Executive Officer and when a letter like this brings out significant allegations, it calls for them to be looked into. Given the magnitude of the…

12 Aug

Genocide reparations to fund regional projects

info_e12wt4csObserver MoneyGermany, Herero, Nama, president Hage Geingob

Andrew Kathindi Government has announced that repatriation funds from Germany for the genocide on Herero and Nama people at the start of the last century, when eventually received, will be used for costed projects from seven identified regions in the country. This comes as President Hage Geingob stated that the offer for reparations made by the German Government remains an outstanding issue and is not acceptable to Namibia in its current form, as negotiations continue. Germany made an N$206 million dollar (Euro 10 million) settlement offer as part of reparations. According to a statement by the Presidency, the Special Committee…

11 Aug

NAMCOR board appointed

info_e12wt4csObserver MoneyLeon Jooste, NAMCOR, Public Enterprises minister

Staff Writer Public Enterprises minister, Leon Jooste on Monday announced a new National Petroleum Corporation of Namibia (NAMCOR) board to be chaired by Nampost Executive, Jennifer Comalie. MTC Chief Human Capital and Corporate Affairs Officer, Tim Ekandjo who was recently appointed Deputy Chairperson of the Namibian Broadcasting Corporation, will take up a similar role in the new look board, which has seen former board Chairperson, Engelhardt Kongoro becoming an ordinary board member. Professional Coach, Movational Speaker and Human Resources Executive, Florentia Amuenje was also appointed to the board with Namdia board member, Selma Shimutwikeni. Tresia //Gowases and previous board member,…

11 Aug

Taxis plan N$15.40 fare

info_e12wt4csObserver MoneyNamibia Transport and Taxi Union (NTTU), NAMPOL

Andrew Kathindi The Namibia Transport and Taxi Union (NTTU) has given unilateral notice of their own 10 percent taxi fare increment for 1 September, which they hope will increase the current N$14 rate for a taxi trip to N$15.40. This, comes as the Union had previously attempted to make the N$14 increment, which the Ministry of Works and Transport had announced in May as a subsidy during the state of emergency, permanent. The union had argued that the increase would be on the basis of a notice that they had given in 2018 which government did not approve. “For the…

11 Aug

Ndeitunga calls for penalties on Corona spreaders

info_e12wt4csObserver MoneyCovid-19, General Sebastian Ndeitunga, NAMPOL

Andrew Kathindi Namibia Police (Nampol) Chief, General Sebastian Ndeitunga has called for stringent penalties to be imposed on those putting public lives at risk by knowingly spreading COVID-19. This comes as Namibia has witnessed increased cases where those with Covid-19 have knowingly left quarantine facilities and interacted with the public. In some cases, COVID-19 positive individuals have gone out on drinking and partying sprees, posing a health risk to hundreds of people, with the latest case being one involving a Windhoek-based male. “If a person knew or suspected that they are positive, the person is not supposed to spread it.…

07 Aug

Investors demand millions from Amushelelo . . . as PG warns investors

info_e12wt4csObserver MoneyAmushe Hello Investment, Asset Legacy Investments CC, BoN, Forex Trading Corporation

Andrew Kathindi Investors in Michael Amushelelo’s Forex Trading Corporation, which the Bank of Namibia (BON) has now deemed illegal, are demanding the return of their money. The funds which amount to millions of Namibian dollars had been invested in Amushelelo’s Project One Million and were subsequently frozen by the BON and are currently being used as evidence. According to sources, the money as a part of evidence will only be released once investigations by the Namibian Police have concluded. The Windhoek Observer also has it on good authority that of the millions, only a minimal amount was actually invested in…

07 Aug

Chief Justice, ministers, judges, lawyers in Corona scare

info_e12wt4csObserver MoneyChief Justice Peter Shivute, Deputy Chief Justice Petrus Damaseb, Namibia Lawyers Association (NLA), Sisa Namandje

Andrew Kathindi Chief Justice Peter Shivute, ministers, members of the judiciary and legal fraternity are currently in self-isolation after attending the book launch of Deputy Chief Justice Petrus Damaseb, where one of the event organizers tested positive for COVID-19. The event was held last week Wednesday and attended by 100 guests, including six judges, four ministers and lawyers including Sisa Namandje. Chairperson of Namibia Lawyers Association (NLA), which organized the book launch, Taswald July, confirmed that one of the Governance Counsel (GC) members tested positive and is in quarantine. “The relevant protocols have been followed. The venue has been informed…

07 Aug

Capricorn to exit Zambia

info_e12wt4csObserver MoneyAccess Bank Plc, Capricorn Group, Cavmont Capital Holdings Zambia PLC

Staff Writer Capricorn Group is set to directly disinvest from Zambia, after the banking group announced that it had concluded a purchase agreement with Access Bank Plc for its entire interest in Cavmont Capital Holdings Zambia PLC. Under the terms of the agreement which is still subject to regulatory approval, Access Bank Zambia will acquire the entire issued ordinary share capital, assets and liabilities of Cavmont Bank, and on completion, Cavmont Bank will become part of Access Bank Zambia and operate under the Access Bank brand. Capricorn on the other hand will hold preference shares in the enlarged Access Zambia…

07 Aug

Lazarus Jacobs appointed NBC Board Chairperson

info_e12wt4csObserver MoneyLazarus Jacobs, Namibia Broadcasting Corporation (NBC), NBC

Andrew Kathindi Cabinet has approved the appointment of Lazarus Jacobs as the new Chairperson of the Namibia Broadcasting Corporation (NBC) Board of Directors. “Cabinet endorsed the appointment of nominees to serve as members of the Board of Directors of the Namibia Broadcasting Corporation (NBC) for a period of three years effective from 1 August 2020 to 31 July 2023,” said Minister of Information and Communication Technology, Peya Mushelenga. Jacobs replaces Sven Thieme who previously served as Chairman of the NBC Board. Jacobs is the co-founder and Executive Director of Paragon Investment Holdings. He will be joined on the Board by…