Observer Money – Page 208

13 Jun

Dos Santos bank stake up for sale

info_e12wt4csObserver MoneyAngola

Staff Writer Angola's former first daughter Isabel dos Santos indirect stake in Bank BIC Namibia Limited is up for sale with other shareholders in the bank reportedly to keen to acquire the shares. Dos Santos who currently stands accused of theft, corruption and money laundering by Angolan authorities, is reported to be a majority shareholder in the banking concern, with a 42.5 percent shareholding. “We can confirm, however, that the shares currently held indirectly by Ms dos Santos are still for sale but how this is done is a matter for shareholders to decide,” Bank Bic said in response to…

12 Jun

Cabinet approves new boards

info_e12wt4csObserver MoneyCabinet

Staff Writer Cabinet has approved the appointment of University of Namibia Director of Research, Innovation and Development, John Sifani as the Chairperson of the board of New Era Publication Corporation (NEPC) for a period of 3 years. Sifani who replaces Esau Mbako, will be joined on the government owned publishing house board by Helena Amutenya, Selma Ambunda, Johannes Sheya and Government Institutions Pension Fund (GIPF) General Manager for Marketing and Stakeholder Engagement, Edwin Tjiramba, a media and communication specialist. Similarly, Cabinet endorsed the appointment of Bank of Namibia official, Emma Haiyambo as Board Chairperson of Southern Times Newspaper. Other board…

12 Jun

Namibia faces drinking crisis

info_e12wt4csObserver MoneyMinistry of Health and Social Services

Andrew Kathindi According to the Ministry of Health and Social Services, 44 percent of Namibian children start drinking alcohol from as early as nine years old. This according to Deputy Program Manager for Substance Abuse Prevention, Drug Control and Rehabilition in the ministry, Geraldine Kanyinga, who raised the alarm on the state of alcohol addiction in Namibia. “We have done a research and the findings show that 44 percent of Namibian children are already drinking from as early as nine years. So for us it is scary that alcohol has become a norm in society. We have to take shebeens…

11 Jun

Kalahari Holdings donates school furniture

info_e12wt4csObserver MoneyKalahari Holdings, Katima Mulilo

Staff Writer Kalahari Holdings has donated of 650 desks and 650 chairs to the Tobias Hainyeko Project School in Katima Mulilo as part of its corporate social responsibility initiative and efforts to assist Government. The school furniture was handed over to the school management by Kalahari Holdings Director, Ephraim Nekongo. Since the school was established in 2018, learners have had to carry chairs from their homes to school and the donation is set to have a positive impact on teaching and learning in the school.

11 Jun

Pupkewitz to retrench

info_e12wt4csObserver MoneyPupkewitz Group, Pupkewitz Holdings

Staff Writer Pupkewitz Group plans to retrench part of its workforce as part of an on-going restructuring of the company. Although details remain sketchy as to how many employees will be affected by the group’s decision, a voluntary retrenchment offer has been put on the table for all employees of the diversified group to take up. “All employees of the Pupkewitz Group have been offered a voluntary separation package with a redundancy process to follow by the end of June. We believe that this decision will allow us to serve the greater good by securing the jobs of the vast…

11 Jun

City Police splashes millions on bakkies

info_e12wt4csObserver MoneyCity Police, Road Fund Administration (RFA)

Andrew Kathindi The Windhoek City Police has splashed N$13 million on the acquisition of new vehicles at time when government has advocated for spending cuts, while residents have complained of poor service delivery by the municipality. City Police Chief, Abraham Kanime confirmed the acquisition of the vehicles which were purchased from funds availed by the Road Fund Administration (RFA). “Even as we’re talking, we are still trying to see whether we can get money to buy more. We need mobility for us to deal with high road accidents. The vehicles that we are talking about are just for road safety.…

10 Jun

Full fees unfair – Kandjii-Murangi

info_e12wt4csObserver MoneyDr Itah Kandjii-Murangi, Minister of Higher Education, Namibia University of Science and Technology (NUST), Training and Innovation, University of Namibia (UNAM)

Andrew Kathindi Minister of Higher Education, Training and Innovation, Dr Itah Kandjii-Murangi has said although educational institutions may be within their rights to charge full fees, from a moral point of view, it is unfair. “It's quite a very tricky situation for them and very difficult as well. If you speak from the moral side of things, it’s not fair to ask someone who has not been on your campus, who has not received any teaching, for full fees for the whole term. The best that these institutions could do is to work out the amount of teaching that was…

10 Jun

Police threaten lockdown extension because of alcohol

info_e12wt4csObserver MoneyJoseph Shikongo, Khomas Regional Commander of the Namibian Police

Andrew Kathindi Khomas Regional Commander of the Namibian Police, Joseph Shikongo has warned that reckless behavior as a result of irresponsible alcohol consumption could cause of the rest of the country to revert Stage 1 lockdown regulations. At midnight 01 June, Walvis Bay was forced to revert to stage 1 lockdown regulations while the rest of the country progressed to stage 3. The president’s announcement attributed this action to increased COVID-19 cases in the harbor town. On Monday, June 8th, President Hage Geingob placed the entire Erongo region under lockdown. He took this action after official concluded that residents of…

09 Jun

Dundee invests N$5 million in COVID-19 fight

info_e12wt4csObserver MoneyDundee Precious Metals Tsumeb

Staff Writer Dundee Precious Metals Tsumeb has reaffirmed its support to the Tsumeb community by making a N$5 million investment to the Tsumeb District hospital to improve COVID-19 preparedness . The donation follows the declaration of a State of Emergency over the Coronavirus (COVID-19) pandemic on Tuesday, 17 March 2020 by His Excellency Dr. Hage G Geingob President of the Republic of Namibia in support of the Mining Industry’s efforts to partner with the government’s initiative to mitigate the spread of COVID-19. The upgrades will improve the preparedness levels of the hospital should the COVID-19 virus be detected in Tsumeb…

09 Jun

NSFAF owed N$2.8 billion

info_e12wt4csObserver MoneyNSFAF

Andrew Kathindi The Namibia Students Financial Assistance Fund (NSFAF) said that it is still owed N$2.8 billion in loan repayments from past beneficiaries. This announcement comes as NSFAF has allocated a budget of N$244 million for the purchase of mobile devices and laptops. These devices are needed for vulnerable students to have access to e-learning. “There is a data integrity project we are running that is in entering its final stage. So far, the data indicated by the records is that N$2.8 billion is outstanding from former recipients. That tells you that there is a lot of funds that need…