Observer Money – Page 211

02 Jun

WHK informal settlements to get electricity

info_e12wt4csObserver MoneyCovid-19, Electricity Control Board (ECB), NamPower

Staff Writer NamPower and the City of Windhoek have signed a “Project Development and Transfer Agreement on the Electrification of Peri-urban Areas in the Municipality of Windhoek.” The project will be funded by NamPower to the tune of N$15.5 million as part of its Corporate Social Investment (CSI), aims to electrify 1,000 households in peri-urban areas of Windhoek. “According to this agreement, NamPower is committing to contribute to the improvement of the lives of communities living in peri-urban areas, in and around Windhoek, by providing electricity to one thousand (1,000) households, as part of NamPower’s corporate social investment,” NamPower Managing…

02 Jun

De Beers donates to the Ministry of Education

info_e12wt4csObserver MoneyCovid-19, De Beers Group

Staff Writer De Beers Group has donated a consignment of hand sanitizers and facemasks to the Office of the Prime Minister, for onward distribution to the Ministry of Basic Education, Arts and Culture. The donation is part of De Beers Group’s N$15 million in-kind donation that it pledged to the Government’s Disaster Relief Fund to fight COVID19. The donation to the Ministry consists of 7,500 facemasks and 5,000 300ml containers of hand sanitizers. The facemasks were made by a community business initiative in Keetmanshoop, while the hand sanitizers were produced by UNAM. “We are delighted to play our part in…

31 May

PAY lends helping hand during Covid-19 crises

info_e12wt4csObserver MoneyCovid-19, FirstRand Namibia Foundation CSI, Physically Active Youth (PAY)

Staff Writer Physically Active Youth (PAY) has reach a total of 353 people in 55 households with food and toiletry packages as part of their outreach program carried out during the Covid-19 lockdown. “The support and resources to power this project are drawn from both corporate and individual support as well as local and international support. We are grateful for the support we received towards our community outreach programme that has ensured the continued engagement and reach of our beneficiaries and their families,” Thuba from PAY said. Revonia Kahivere, FirstRand Namibia Foundation CSI Manager expressed her gratitude that PAY has…

27 May

COVID-19 effects bleed businesses – survey

info_e12wt4csObserver 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

Govt probes Agribusdev

info_e12wt4csObserver 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

info_e12wt4csObserver 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

info_e12wt4csObserver 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

info_e12wt4csObserver 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…

21 May

BoN declares WhatsApp Stokvel illegal

info_e12wt4csObserver MoneyBank of Namibia (BoN), WhatsApp Stokvel

Staff Writer The Bank of Namibia (BoN) has finally declared WhatsApp Stokvel illegal following an investigation into their operations. The announcement by the central bank comes amid growing popularity of WhatsApp Stokvel as a means of making additional income. According to the central bank, the operations of the WhatsApp Stokvel are similar to that of a pyramid scheme and thus violating the country’s banking laws. “The outcome of the investigation carried out has revealed that the business activities of the N$200 WhatsApp Stokvel constitute a pyramid scheme, and therefore, N$200 WhatsApp Stokvel is in contravention of section 55 (A) of…

21 May

Ministry aware of school re-opening risks

info_e12wt4csObserver MoneyMinistry of Education, Sanet Steenkamp

Andrew Kathindi The Ministry of Education says it is aware of the risks in reopening schools sooner than initially announced but feels it’s necessary as there is a “global move towards reopening schools.” The Education ministry this week announced that learners will be returning to schools in four stages, beginning with 3 June for grade 11 and 12 learners, followed by pre-primary to grade 3 on 22 June, then grades 7 to 9 and then lastly the remaining grades on 6 July and 20 July respectively. However, just this week a number of schools in France had to shut down…