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Published on October 22nd, 2015 | by admin

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Month In Review-September 2015

Business

• The Namibian Employers’ Federation (NEF) criticised the Employment Services Act, which has become operational, saying it was impractical and will not help to create jobs.
• The Government Institutions Pension Fund (GIPF) reaped N$44 million from its investment in FNB Namibia.
GIPF is a 14.8 percent shareholder in FNB.
• Sanlam Namibia’s contribution to the Sanlam Group’s new business volumes from emerging markets dropped from N$1.54 billion in 2014 to N$1.28 billion in 2015 according to interim results.
• Windhoek Gymnasium Private School was sold to a South African independent schools group, Curro Holdings, for N$180 million
• Namibia Road Products and Services, which has been awarded several road construction projects retrenched 440 workers out of 562 due to alleged non-payment for work tendered through the Roads Authority.
• A report from the African Development Bank recommended that government pursue other energy generation projects instead of Kudu gas which is associated with very high, unsustainable costs.
• Government gave conflicting signals over the Kudu gas project with Finance Minister Calle Schlettwein saying it was not viable while Namcor indicated it was still feasible and bankable.
• The High Court ordered low-cost airline FlyAfrica and its Namibian partner, Nomad Aviation, to stop the passenger flights it had started to operate between Windhoek and OR Tambo International Airport in Johannesburg, South Africa. FlyAfrica said it would look at other route options.
• Brazilian oil company PetroRio, previously known as HRT, closed its offices in Windhoek as part of a restructuring exercise.
• The Employment Equity Commission said it was taking Italian company Salini Impregilo to court for late submission of its affirmative action report. Salini Impregilo is constructing the Neckartal dam in the south of Namibia.
• Credit rating firm Fitch removed Telecom Namibia from its ‘negative watch’ list – giving the company a stable outlook instead. Telecom’s long-term local currency Issuer Default Rating (IDR) was rated ‘BB+’ and its national long-term rating at ‘A-(zaf)’.
• Mines and Energy Minister Obeth Kandjoze said foreigners who were investing in and developing Namibia’s mines deserved more respect from Namibians.
• The Ohlthaver & List Group said it would start selling more locally grown vegetables in its Pick ‘n Pay stores.

Economy

The annual inflation rate for August increased marginally to 3.4 percent from 3.3 percent in July.
The economy grew by 6.4 percent in 2014 compared to 5.7 percent in 2013, the Namibia Statistics Agency said in its final National Accounts.
Namibia’s economy grew 4.2 percent in the second quarter of 2015 compared with a revised 5.3 percent expansion during the first three months of the year, the Namibia Statistics Agency said.
Namibia Equity Brokers predicted that interest rates would remain on hold at current levels (repo: 6.5 percent, prime: 10.25 percent) at least until the second quarter of next year.
The Ministry of Finance said it planned to issue a new Eurobond in an attempt to fund the budget deficit. The move comes amid reports of a liquidity crisis on the local capital market and worryingly low levels of foreign reserves.
Namibia climbed 3 places to 85th on the World Economic Forum’s Global Competiveness Index. Namibia has the fifth most competitive economy in Africa after Mauritius, South Africa, Rwanda, and Botswana.
Namibia’s level of budget transparency has weakened according to the Open Budget Survey, with government being urged to make key documents like a mid-year review and pre-budget statement available.
Simonis Storm Securities said the water crisis in central Namibia could have a damaging effect on economic growth. At current consumption rates Windhoek’s water is expected to run out in August next year unless dams receive significant inflows in the next few months

POLITICS

• President Hage Geingob called on international bodies not to view Namibia as an upper-middle-income country when he addressed the UN General Assembly in New York.
• Minister of Urban and Rural Development Sophia Shaningwa tabled an amendment to the Local Authorities Act which will ban foreigners from buying land in many urban areas.
• The long awaited Public Procurement Bill was tabled in the National Assembly.
• The Breaking the Wall of Silence movement called on the ruling party to initiate a national dialogue to openly discuss the plight of the Lubango dungeons victims.
• Th e Electoral Commission of Namibia confirmed that the local and regional elections will be held on November 27.
• The Institute for Public Policy Research (IPPR) called for the release of the Delimitation Report ahead of the local and regional elections.
• Cabinet announced the appointment of former Powercom Chief Executive Stanley Similo as the Director General of the Namibian Broadcasting Corporation.
• The Ministry of Transport issued a list of 335 officials, among them MPs, permanent secretaries, judges and advisors, who have the right to stop and park wherever they want. In 2013 only 173 officials enjoyed the same privilege.
• Urban and Rural Development Minister Sophia Shaningwa justified the Swakopmund Municipality’s decision to sell a piece of land
valued at N$2.6 million to Swapo for N$30,000 because the party had been “in the bush” to liberate the country.
• Fisheries Minister Bernhard Esau apologised for derogatory remarks he made about Namibia Chamber of Commerce and Industry chief executive Tarah Shaanika and the late Minister of Fisheries Abraham Iyambo.
• The government of Congo Brazzaville has asked its Namibian counterpart to give it a portion of land, Information minister Tjekero Tweya confirmed.

SOCIETY and SPORT

• Sentencing in the long-running Caprivi treason trial will start in October. Thirty of the accused were convicted of high treason, murder and attempted murder at the end of the marathon trial. 79 of the accused were acquitted.
• T he Chief Executive of the Namibia Financial Institutions Supervisory Authority (Namfisa) Phillip Shiimi (43) died in a car accident on the Otjiwarongo-Otavi road.
• University of Namibia student Redney ‘Oumes’ Gariseb (20) was shot dead near the campus in an apparent robbery.
• About 80 members of the Vapostori religious sect, mainly hailing from Zimbabwe and South Africa, were denied entry to Namibia at Hosea Kutako International Airport and were expected to be deported.

• Jandre Dippenaar was charged with murder in connection with a horrific car accident between Henties Bay and Swakopmund at the end of 2014. Six people died in the collision allegedly caused by Dippenaar’s reckless driving.
• T wo truck drivers from Special Inn transport company almost lost their lives after they were shot at between Kalkrand and Rehoboth on Saturday in what appeared to be an attempted hijacking.
• Singer Lady May was seriously injured when she was knocked off her motorcycle by a truck at a four-way stop in Windhoek.
• Namibia lost its first matches at the Rugby World Cup in England – going down 58-14 to New Zealand and 35-21 to Tonga.

 


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