Uncategorised – Page 85

19 Jun

Bank Windhoek cuts interest rates

info_e12wt4csUncategorisedBank of Namibia (BoN), Bank Windhoek, Monetary Policy Committee

Staff Writer In response to the announcement by the Monetary Policy Committee of the Bank of Namibia (BoN) to cut the Repo rate from 4.25 percent to 4 percent as announced on 17 June 2020, Bank Windhoek has announced a reduction of its Prime Lending Rate by 0.25 percent from 8 percent to 7.75 percent. The bank’s Mortgage Lending Rate will decrease from 9 percent to 8.75 percent, effective from Tuesday, 23 June 2020. “While the possibility of more cuts cannot be ruled out at this point, we expect that the benefit from the sharp cuts will gradually alleviate the…

18 Jun

President Geingob’s Philosophy is paying off

info_e12wt4csUncategorised

…the case of Namibia’s COVID-19 response Lameck Odada Like any other country in the world, Namibia is also dealing with the outbreak of COVID-19 and trying to alleviate what has become a pandemic. With confirmation of the first two cases of COVID-19 in the country on March 14, 2020, President Hage Geingob declared a State of Emergency on March 17, 2020 and directed an immediate lockdown that lasted for 38 days. Among many other crucial decisions was the cancellation of the 30th Independence Day public celebration. Infections flattened at 16 cases with no new cases reported for 45 days, until…

18 Jun

BoN cuts Repo rate to 4%

info_e12wt4csUncategorisedDeputy Governor, e Bank of Namibia (BoN), Ebson Uanguta

Staff Writer The Bank of Namibia (BoN) Monetary Policy Committee (MPC) has cut the Repo rate from 4.25 percent to 4 percent, a move which translates to a cumulative 2.50 percentage point reduction since the beginning of the year. “This decision was taken following a review of global, regional and domestic economic and financial developments. The MPC is of the view that at this level the rate is appropriate to continue supporting domestic economic activity while at the same time safeguarding the one-to-one link between the Namibia Dollar and the South African Rand,” Deputy Governor of the Bank of Namibia,…

17 Jun

Your small business can adapt to COVID-19 hindrance

info_e12wt4csUncategorisedBank Windhoek, Covid-19

Loide David The International Monetary Fund’s latest Global Financial Stability Report indicates that financial systems have already felt a dramatic impact during the COVID-19 crisis. In the United States, one of the hardest-hit countries with over two million COVID-19 cases, the effect of the pandemic on businesses has caused it to register close to 40 million job losses. Most of these job losses are from small businesses. Small businesses are privately owned establishments, enterprises, sole proprietorships with fewer employees, and less annual revenue than a regular-sized business or corporation. In a Namibian context, the commercial bank’s regulator, Bank of Namibia,…

17 Jun

Ngwangwama appointed NWR Managing Director

info_e12wt4csUncategorisedDr Matthias Mpareke Ngwangwama, Namibia Wildlife Resorts (NWR)

Staff Writer Namibia Wildlife Resorts (NWR) Board of Directors has appointed Dr Matthias Mpareke Ngwangwama as the substantive Managing Director effective 1 April 2020 for a period of five years. Ngwangwama has been acting Managing Director of NWR since 23 April 2019 following the exit of Zelna Hengari. Ngwangwama is no stranger to NWR, having been the longest-serving Chief Financial Officer (CFO) of the hospitality company, before taking over as the Chief Officer: Strategy and Projects within the organisation two years ago. "As a board we know we have made the right choice. Being a PhD holder in Business Management…

17 Jun

A dream, hard work and perseverance

info_e12wt4csUncategorisedDebmarine Namibia, Wilbard Mwetulundila

A journey for Wilbard Mwetulundila Wilbard Mwetulundila grew up in Onamutayi Village east of Ongwediva with his seven siblings. As a child, he was fascinated by battery-operated toys and his persisted of engineering curiosity birthed a Marine Electrician at Debmarine Namibia. He has an unwavering love for engineering and on the quest to follow it though to make sure that his childhood dream of becoming an engineer is realised. “I always had a picture of myself working in an engineering space. Given that burning passion, it was just a matter of putting in the effort to fulfill my dream”. After…

16 Jun

Beware of cyber scams

info_e12wt4csUncategorisedCovid-19, cyber, Iyaloo N Waiganjo, Moses Waiganjo

Moses Waiganjo and Iyaloo N Waiganjo COVID-19 has forced most citizens around the world to stay home and to make use of information technology infrastructure such as smart phones, computers and tablets to carry out their daily online activities. The precipitous rise in internet usage at this specific and unique time has also given a green light to more cyber conmen and criminals to attempt to steal money and personal information. During this pandemic, many services are offered online to comply with social distancing as directed by the government. Academic classes are offered online from primary to tertiary levels. Employees…

16 Jun

Hangana pumps N$34m into vessel renovations

info_e12wt4csUncategorisedHangana Seafood, Ohlthaver & List (O&L) Group

Staff Writer Hangana Seafood, a subsidiary of the Ohlthaver & List (O&L) Group has announced that it has completed the refurbishment of one of its vessels, M.F.V Erica at a cost N$34 million. The revamp which took about a year to complete, included the installation of a new main 8-cylinder engine from Belgium as well as new winchers from Spain and a split net drum system which allows for more efficient switching between trawls, which according to Fleet Manager at Hangana Seafood, Christie Sitzer will extend the lifespan of the Erica by another 20 years. The upgrades on the electronic…

13 Jun

The Time Traveler: Dear white people…

info_e12wt4csUncategorisedNamibia, white

Hugh Ellis The latest racist outrage in Namibia was two white men killing a black man over allegedly stolen glue. This incident happened at Otjiwarongo last week. The Police have arrested two suspects, Jonathan Patrick Myburgh and Jannie Jansen van Vuuren, and charged them with murder. Meanwhile, the Henties Bay municipal council has agreed to consider taking down the macabre hangman’s noose monument at the town. This strange monument was set up in the 1970s to warn people not to litter on the beach. But it would obviously remind most black people, and many whites, about how Hereros and Namas…

13 Jun

Couch Cat – baking your own bread

info_e12wt4csUncategorisedCouch Cat, lockdown

Jackie Wilson Asheeke In pandemic lockdown, I began to rediscover my old skills for baking bread. It was like dusting the cobwebs off my inner mind. But, I enjoyed it every step of the way. My momma taught me about using yeast and baking bread when I was a little girl. But, I was the youngest so my job was to set and clear the table after all meals. My older sisters did the cooking and baking with momma. So, I put those lessons aside for an entire lifetime and resurrected them when I lived in Ethiopia for four years…