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Published on June 21st, 2016 | by admin

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Month In Review-May 2016

BUSINESS

> Government signed a new agreement with de Beers for the beneficiation of namdeb holdings’ diamonds. the value of the diamonds made available for local processing will be n$67 billion over the next decade.

> Global mining company Anglo American plc appointed Bruce cleaver as chief Executive of its unit, de Beers, after previous cEo philippe Mellier stepped down.

> The Construction Industry Federation estimated that the drought in central namibia could cost 40,000 jobs as building projects grind to a halt due to the water shortage.

> The Namibia Chamber of Commerce and industry said the Ministry of home Affairs’ decision to require south African citizens to acquire business visas in advance for trips to namibia would have a negative impact on trade and investment.

> Namibia Stock Exchange-listed company, oceana Group, said its revenue grew by 40 percent to n$3.6 billion in the six months to March 31 2016. the company said its performance in namibia for the rest of 2016 would depend on size and timing of horse mackerel quota allocation.

> A N$28 million investment by hangana seafoods enabled the company to bring one of its eight vessels – the otter Bank – back into service following an extensive modernisation refit.

> Bannerman Resources said it had no plans to withdraw from the namibia stock Exchange despite announcing it was delisting from the toronto stock Exchange in canada. Bannerman’s Etango uranium project is located in the Erongo region.

> Areva Resources Namibia dismissed reports that its water desalination plant at the coast had been offered to government for n$50 billion, saying the price tag was actually n$3 billion.

> United Africa Group received funding of n$80 million from vantage capital, a south Africanbased firm, towards the construction of the three star hilton Garden inn hotel in Windhoek.

POLITIC

•  CabineT exTended The CurrenT droughT relief programme To run until July at an extra cost of n$89 million.

•  presidenT hage geingob expressed ConCern abouT The high projected costs for establishing government’s food bank project. As a result, cabinet directed that the construction costs be reviewed.

•  iT was revealed ThaT presidenT geingob had parTnered wiTh a Chinese businessman, Jack huang, to build more than 400 apartments, 24 villas, two mansions and a hotel on the outskirts of Windhoek.

•  informaTion depuTy minisTer sTanley simaTaa Confirmed ThaT government would now move quickly to introduce the long-awaited Access to information Bill.

•  president geingob Told a meeTing of The heads of anTi− CorrupTion agencies in commonwealth Africa in swakopmund that corruption had no place in namibia and that all should unite to root it out.

•  former presidenT sam nujoma CelebraTed his 87Th birThday with a large gathering at his farm near otavi. neither president Geingob or ex-president hifikepunye pohamba attended the event.

•  presidenT geingob said no one Could undermine The bonds between himself and founding president nujoma when both attended the official opening of the swapo party school.

•  former depuTy prime minisTer marCo hausiku was appoinTed as interim rector of the new swapo party school based in Windhoek.

•  dTa presidenT mChenry venaani aCCused presidenT hage geingob of failing to consult after he ignored opposition parties during the development of the harambee prosperity plan.

•  dTa presidenT venaani also said his parTy would not support the construction of a new parliament building particularly when Windhoek was about to run dry due to the current water crisis.

• presidenT geingob expressed ConCern ThaT The cost of new parliament had escalated from n$800 million to over n$2 billion within the last year. he said the rationale for the new building should be explained more clearly.

• CabineT deCided ThaT afriCans wiTh diplomaTiC or official passports would be exempted from visa requirements when they enter namibia.

• renowned us eConomisT joseph sTigliTz and Executive secretary of the un Economic commission for Africa carlos lopes visited namibia for a series of public meetings and lectures.

• The poliCe denied reporTs ThaT The leader of The pro-secession caprivi concerned Group, retief kangongo, had disappeared, saying he had fled to Botswana to claim political asylum.

• firsT lady moniCa geingos launChed her one Economy Foundation, a non-profit organisation aimed involving as many namibians as possible in the mainstream economy, at a gala dinner that raised n$4.5 million.

• over 900 kgs of maize meal were lefT To roT in a container at the keetmanshoop railway station after officials failed to distribute it to schools.

• The naTional CounCil passed The presidenTial remuneration and other Benefits Bill despite a dispute over whether a president could have more than one spouse.

SOCIETY AND SPORT

namwaTer warned governmenT ThaT for The first time since independence Windhoek’s supply dams could run dry before the next rainy season. the capital will be forced to draw water from boreholes, the reclamation plant and the kombat and Berg Aukas mines. the city of Windhoek called on residents to make a 40 percent reduction in their water usage.

sex workers in windhoek Complained of poliCe harassment after 16 foreign prostitutes were arrested and detained for over month at the hosea kutako international Airport police cells.

ThirTy-year-old Charles noabeb, ConviCTed of the murder of cintha robertha Gaeses in April 2013 in Arandis, was sentenced to an effective 40 years in jail by high court Judge dinah usiku.

namibia’s junior middleweighT boxer anThony Jarman was crowned the new World Boxing Association (WBA) panAfrican champion after defeating christiano ndombassy from Angola.

ECONOMY

- namibia’s annual inflation rate in april was 6.6 percent, up from 6.5 percent in March, according to the Namibia Statistics Agency. A year ago, the annual inflation rate was 2.9 percent.

-moody’s investors service said it was concerned about Namibia’s high long-term unemployment, widening current account deficit and low international reserves. Moody’s forecast GDP growth at 4.2 percent for 2016.

-The ijg business Climate monitor for march 2016 indicated a slowing economy which could limit antipoverty policy options if they continue into 2017.

- expected higher fuel prices will add to inflationary pressures during 2016, according to an analysis by PSG Namibia. Petrol prices were to increase by 60 cents per litre and diesel prices by 70 cents per litre on June 1 with further rises expected in the comingmonths due to a recovery in international oil prices and a worsening rand exchange rate with the US dollar.

 


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