Observer Money – Page 208 – Windhoek Observer

29 May

Govt imposes lockdown on Walvis Bay

ObserverObserver Moneypresident Hage Geingob, Walvis Bay

...as the country moves to Stage 3 Andrew Kathindi Visitors and residents of Walvis Bay are now stuck in the coastal town for the next seven days after government in a surprise move placed the coastal town under Stage 1 of the lockdown effective Thursday. The developments follows a 63-year-old Walvis Bay fisherman and a 47-year-old male truck driver becoming recent national COVID-19 cases and means only essential workers with permits will be allowed to leave the town during the imposed lockdown. Minister of Health and Social Services, Kalumbi Shangula said that implemented measures were aimed at preventing the further…

28 May

Beer, wine drinkers to pay more

ObserverObserver MoneyBeer, Iipumbu Shiimi, Minister of Finance

Staff writer Wine and beer lovers who have been unable to purchase or consume their alcoholic beverages of choice as a result of state of emergency regulations will face higher prices for their drinks of choice on June 3rd when stage three of the post-pandemic re-opening of Namibia begins. This comes after Minister of Finance, Iipumbu Shiimi, on Wednesday announced the 2020/2021 budget containing additional ‘sin taxes’ on alcohol and tobacco to raise money for depleted state coffers. This will be of interest to those that have been unable to purchase alcohol since the nation went into the state of…

28 May

Nam students unpaid in Cuba amidst pandemic

ObserverObserver MoneyMinistry of Health and Social Services (MOHSS), Namibian medical students, University of Havana (Universidad de Sciencias Médicas)

Andrew Kathindi Namibian medical students at the University of Havana (Universidad de Sciencias Médicas) have lamented the non-payment of their monthly allowances by the Ministry of Health and Social Services (MOHSS) amidst the global COVID-19 pandemic. There are 238 students involved in this situation. According to several students at the University who choose to speak out anonymously, they last received a stipend late in March, which was supposed to cover only February and March. The students are supposed to receive a monthly stipend of US$350 paid quarterly. “They paid for two months only at the rate of US$1=N$14.7 (February’s rate).…

28 May

Shiimi announces N$64.3 billion budget

ObserverObserver Moneybudget, Covid-19, Finance minister Iipumbi Shiimi

Staff Writer Finance minister Iipumbi Shiimi on Wednesday announced a N$64.3 billion budget, where he projected the domestic economy to contract by 6.6 percent in real terms this year. “The 2020/21 Appropriation Bill amounts to N$64.3 billion. A total of N$8.4 billion, or 16.4 percent of revenue, is earmarked for the payment of interest payable on moneys borrowed. This amount is deemed to have been appropriated. Therefore, the total expenditure, including interest payments, for the 2020/21 financial year, amounts to N$72.8 billion,” he said. “The contraction may as well linger on in 2021 at a moderate rate of 1.1 percent,…

27 May

COVID-19 effects bleed businesses – survey

ObserverObserver MoneyCovid-19, Namibia Statistics Agency (NSA)

Staff Writer A Namibia Statistics Agency (NSA) survey has found that 96.5 percent of businesses have been adversely affected by the coronavirus and will continue to be affected in the coming months. “The majority of operating businesses have indicated reduction in local customer demand as the most common current and future effect experienced by 68.8 percent and 65.1 percent of the businesses, respectively. Furthermore, 63.7 percent of businesses reported revenue loss of over 50 percent with the Manufacturing sector (20.1 percent), Hotels and Restaurants (15.2 percent) and Construction sector (11.3 percent) bearing most of the blunt.” The survey found that…

27 May

Meatco eyes NCA meat exports

ObserverObserver MoneyMeatco, Northern Communal Areas (NCA)

Staff Writer Meatco says it plans to export meat produced from its Northern Communal Areas (NCA) abattoirs to countries in SADC. Meatco Chief Executive Officer, Mwilima Mushokobanji speaking after 100 days in office said the company had already started the process of ensuring that farmers in the NCA who have herds of over 1.1 million, also have access to the export markets. “Recently, Cabinet directed Meatco to go back in the NCA to operate the Rundu Abattoir and also to assist the operators of Katima Mulilo and Oshakati abattoirs in order to provide a market for the farmers. The NCA…

27 May

Govt probes Agribusdev

ObserverObserver MoneyAgribusdev, Ministry of Public Enterprise

Andrew Kathindi Government through the Ministry of Public Enterprise (MPE) has instituted a probe into the operations of Agricultural Business Development Agency (Agribusdev) the Windhoek Observer can reveal. The investigation comes amid increased concern over allegations of mismanagement and dubious tender awards at the government entity tasked improving the country’s food security. Public enterprise minister, Leon Jooste whose remit the Agribusdev now falls under, confirmed that an investigation had been commissioned to understand the core reasons behind government agency’s historic problems. The findings will guide the Ministry’s proposed interventions. “From Government’s side I can assure you that we are not…

26 May

Sanlam donates Protective and Screening equipment

ObserverObserver MoneyCity of Windhoek, Covid-19, Sanlam Group

Staff Writer Sanlam has donated protective and screening equipment to the City of Windhoek. The items were handed over in support of the City of Windhoek’s efforts to fight the COVID-19 pandemic within the city. Speaking at the handover, Sanlam Group CEO Tertius Stears said Sanlam was committed to fight the pandemic in the city in particular and the whole country in general. Stears said, “The world as we know it has changed and we are still to find and adjust to the “new normal,but in getting there we all have to work together and pull our efforts in the…

26 May

Secrecy shrouds fate of suspended Fishcor CEO

ObserverObserver MoneyFishcor, Mike Nghipunya

… As cabinet deliberates on new Fishcor board Staff Writer The continued role of Mike Nghipunya as Chief Executive Officer of the National Fishing Corporation (Fishcor) continues to be shrouded in amid a deafening silence from key stakeholders of the company. This comes more than five months after he was suspended from the company and subsequently arrested for his role in the Fishrot saga on allegations that he used his position as CEO of the state-owned fishing company to allocate fishing rights in exchange for money. Nghipunya is facing three charges, including fraud, contravening the Anti-Corruption Act and corruptly using…

26 May

Education Ministry absolves liability for student contractions

ObserverObserver MoneyArts and Culture, Covid-19, Ministry of Education

…as it remains adamant on schools re-opening Andrew Kathindi The Ministry of Education, Arts and Culture is adamant on re-opening schools amidst the announcement of three new positive cases of COVID-19 and but maintains it will not be held responsible should students contract the virus at school. Minister of Health and Social Services, Dr Kalumbi Shangula on Wednesday announced the country had recorded three new cases, the latest being a 39-year old man who traveled from South Africa and this comes on the backdrop of the Ministry of Education announcing its plans to re-open schools in four stages beginning on…