Observer Money – Page 199 – Windhoek Observer

10 Jul

NPTH appoints subsidiary boards

ObserverObserver MoneyMobile Telecommunications Ltd, MTC, Namibia Post Limited, NamPost, Telecom Namibia Limited (Telecom)

. . . 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…

10 Jul

Govt to find sources for sovereign wealth fund

ObserverObserver MoneyFinance minister, Iipumbu Shiimi, sovereign wealth fund

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…

10 Jul

Telecom’s millions still stuck in Angola

ObserverObserver MoneyAngola, Mundo Startel, Telecom Namibia

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…

09 Jul

Swapo unmoved by new parties

ObserverObserver MoneyElectoral Commission of Namibia (ECN), Hilma Ndinelago Nicanor, Job Amupanda, Panduleni Itula, SWAPO, Swapo Party

Andrew Kathindi The ruling Swapo party says it is not moved by news of political parties being formed by former members and registered to contest the upcoming local elections. This comes after Panduleni Itula, who last year contested the presidential elections, and narrowly lost to President Hage Geingob, lodged an application with the Electoral Commission of Namibia (ECN) to register a political party. Itula was expelled from the party earlier this year for contesting as an independent candidate. Recently, Job Amupanda, leader of the Affirmative Repositioning movement also announced that the movement would register as a political organization to contest…

09 Jul

Govt to appeal retrenchments ruling

ObserverObserver MoneyAttorney General, Festus Mbandeka, Labourt

. . . as job losses mount Andrew Kathindi Attorney General, Festus Mbandeka has said government will appeal the ruling of the High Court, which prevents government from barring employers from retrenching and slashing salaries during the COVID-19 lockdown. “After a thorough legal assessment of the judgment and taking into account its implications on the interpretation and implementation of Article 26 of the Constitution, Government will certainly appeal as a matter of principle,” Mbandeka said. This comes as job losses have continued to skyrocket following the High Court ruling last month. As part of state of emergency regulations, President Hage…

09 Jul

Air Namibia threatens court action over licence

ObserverObserver MoneyAir Namibia, Transportation Commission of Namibia (TCN)

Staff Writer Air Namibia is threatening to approach to the High Court for an urgent interdict if the Transportation Commission of Namibia (TCN) does not withdraw its decision to suspend the airline’s Scheduled Air Services Licence and afford it reasonable time to respond to its concerns over its operations. The move by the national carrier comes after the TCN in a surprise moved on Monday resolved to suspend Air Namibia's Schedules Air Services Licence No 00012 with effect from 23h59 today, Wednesday, 8 July 2020. In letter written to TCN by Air Namibia's acting Managing Director, Elia Erastus, and seen…

07 Jul

Full taxi loads illegal – Ministry

ObserverObserver MoneyMinistry of Health and Social Services, Namibia Transport and Taxi Union (NTTU)

Andrew Kathindi The Ministry of Works and Transport maintains the carrying of a full load of passengers by taxis remains illegal as per Stage 4 regulations of the State of Emergency in the combat of the Covid-19 pandemic. The Namibia Transport and Taxi Union (NTTU) has given the government a 72-hour ultimatum to consult them on the way forward regarding the loading of taxis, demanding that its members revert to full loads of four passengers. “What we are doing, is we’re not working in response to the taxi union. We are working in addressing the plight of the nation, passing…

07 Jul

De Klerk dragged to court over Mushimba estate

ObserverObserver MoneyAaron Mushimba, late businessman, Marén de Klerk

Staff Writer The sole trustees of the estate of late businessman, Aaron Mushimba, and two other estates, has approached the High Court in the matter. This is to have lawyer, Marén de Klerk, currently holed up in South Africa, removed as the executor of the vast estate. De Klerk left the country in January after being questioned by the Anti-Corruption Commission (ACC) and never returned. He is thus wanted by the authorities to answer for his role in the Fishrot scandal after being fingered for his role in the processing of funds, to the tune of N$50 million, from the…

07 Jul

Veterans call for expulsion of LPM leaders from Parliament

ObserverObserver MoneyFounding President Sam Nujoma, Namibia National Veterans Association (NNLVA)

Andrew Kathindi The Namibia National Veterans Association (NNLVA) has called for the Landless People’s Movement (LPM) leader, Bernadus Swatbooi , to be removed from Parliament. This follows his remarks regarding Founding President Sam Nujoma. Swartbooi called the Founding President “thug” and a “liar” in a heated debate in parliament, statements which drew condemnation from the Office of the Founding Father. “We therefore request the honorable Speaker of the National Assembly and his duty to apply the Chamber’s code of conduct and lay charges against the two LPM leaders, namely Bernadus Swartbooi, and Henny Seibeb in particular, for their possible immediate…

07 Jul

Govt turns to mass houses for quarantine

ObserverObserver MoneyCovid-19, Swakopmund, Walvis Bay

Staff Writer Unallocated mass houses in Walvis Bay and Swakopmund could be turned into quarantine facilities amid rising COVID-19 cases and insufficient isolation centers. “I have requested the Governor to investigate the feasibility of using the unallocated mass houses in Swakopumd and Walvis Bay to place people there. The Governor has reported that 60 mass houses are available at Walvis Bay and 100 at Swakopmund we will determine how to utilize those,” President Hage Geingob said. “Isolation of positive Covid-19 cases in terms of locations must be done in ways that do not introduce or increase harm to the community.…