Iipumbu Shiimi – Page 2 – Windhoek Observer

30 Jan

Air Namibia faces uncertain future

ObserverUncategorisedAir Namibia, Iipumbu Shiimi

Andrew Kathindi The future of Air Namibia is uncertain after government on Friday announced that it can no longer afford to bailout the national carrier despite it reaching another settlement agreement with Belgian company, Challenge Air. Finance Minister Iipumbu Shiimi on Friday restated that Air Namibia had significant debts that are unsustainable and that a business plan to save the state-owned enterprise would cost more than N$7 billion, funds which government does not have. "The government approached all airlines currently operating in Namibia as well as those that intend to operate in Namibia to assess if there would be any…

21 Oct

Economy to contract by 7.9 percent …as Gvt offers tax filing incentives

ObserverObserver MoneyBank of Namibia (BoN), Finance minister, Iipumbu Shiimi, Integrated Tax Administrative System (ITAS)

Andrew Kathindi Namibian economic activity is predicted to contract by 7.9 percent, about 0.1 percent more than the 7.8 percent the Bank of Namibia (BoN) had forecasted for 2020, in August this year. Finance Minister, Iipumbu Shiimi in his delivery of the mid-term budget review, said the contraction was, “ a historic high whose contours cut across all economic sectors.” “The pandemic induced deepest historic recession this year exacerbated this situation, with a fallout on businesses, jobs, per capita income and public revenue.” Shiimi further said, “While the worst impact of the pandemic appears to have abated, its impact on…

10 Oct

Geingob’s advisor lands board seat

ObserverObserver MoneyIipumbu Shiimi, James Mnyupe

Staff Writer President Hage Geingob’s recently appointed Economic Advisor James Mnyupe been appointed to the Road Fund Administration (RFA) board by finance minister Iipumbu Shiimi. Mnyupe joined the State House team last month as a replacement for John Steytler who resigned from his post last year. The former Allan Gray Namibia Managing Director is joined on the new look RFA board by Bank of Namibia Director of Strategic Communication, Dr Emma Haiyambo who will hold the chair. Other board members include Standard Bank Namibia Head: Human Resources Isdor Angula, Oshoveli Hivelua and Melanie Tjijenda Director: Quality Assurance, Standards, Skills Development…

04 Aug

Shiimi in tribalism storm . . . as opposition parties push back

ObserverObserver MoneyIipumbu Shiimi, SWAPO

Andrew Kathindi Opposition party leaders have hit back at Finance Minister, Iipumbu Shiimi for claims that new political parties were being founded by tribalists. On his social media page, Shiimi stated, “Tribalism will destroy Namibia as it has done in some countries. I am concerned about new political parties/associations that are being formed by tribalists. True Namibians should reject these tribal projects.” Shiimi’s comments were met with a barrage of criticism. It is believed that his comments may have been aimed at parties such as Landless People’s Movement (LPM), which was formed in 2018. Its leader, Bernadus Swartbooi has been…

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…

19 Jun

Shiimi applauds private sector COVID-19 efforts

ObserverObserver MoneyBank Windhoek, Baronice Hans, Finance minister, Iipumbu Shiimi

Staff Writer Finance Minister, Iipumbu Shiimi, said that he is content with the response he has seen from all Namibians from both the private and public sector who continue to embark on fighting COVID-19 as a united front. He said this during the Capricorn Group/EY 2020 Budget Review Discussion, an online live social media broadcast focused on discussing and reviewing Namibia’s 2020/2021 Budget recently tabled in the National Assembly. “The pandemic's impact is something we have never seen before, and as a result, it requires a united front,” said Shiimi. Bank Windhoek's Managing Director (MD), Baronice Hans, echoed Shiimi’s sentiments.…

06 Jun

AgriBank provides billions in funding

ObserverUncategorisedAgribank, Finance minister, Government, Iipumbu Shiimi

Staff writer Finance minister, Iipumbu Shiimi says AgriBank has extended up to N$1 billion in loans to farmers in various regions of the country over the past three years. “Equally commercial bank loans to agriculture over the past five years have averaged in excess of N$4 billion, indicating a healthy flow of funds to this sector. Drought relief disbursements amounting to N$245 million has also been provided by AgriBank over the past year,” he said in his reply on matters raised during the Second Reading of the 2020/21 Appropriation Bill in Parliament. He, however, warned AgriBank loan beneficiaries to repay…

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…

30 Mar

The day before lockdown

ObserverUncategorisedCabinet, Covid-19, Emma Theofilus, Ester Utjiua Muinjangue, Iipumbu Shiimi, NUDO

Writing this editorial the day before lockdown is sobering. What message should this paper’s editors share that has relevance at such a time? Originally, we wanted to opine about the impact of the few new faces in the Cabinet. Analysis of the changes in the Parliament now that there are loud opposition voices was in order. We wanted to query the decision to merge ministries instead of coldly implementing drastic cuts in the Civil Service payroll. We wanted to give a thumbs up to Finance Minister Iipumbu Shiimi and lament the poisoned chalice he has been given to drink. We…