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WINDHOEK – In anticipation of the Mid-Term Budget Review in about two weeks’ time, Finance Minister Calle Schlettwein and a high-level delegation, including Bank of Namibia Governor, Iipumbu Shiimi, met with captains of private sector industries yesterday. At the well-attended meeting in the Ministry of Finance boardroom, Schlettwein expressed concern about declining private sector investment leve WINDHOEK - The Ministry of Mines and Energy is planning to install an additional 220MW of electricity within the next three years to ensure national development targets and other national goals can be met. WINDHOEK – Good news for African airlines is that air travel on the continent is expected to continue to grow at about 4.9 percent per year over the next two decades. This increase will, according to Paul Steele, Senior Vice President, WINDHOEK - The Ministry of Information and Communication Technology (MICT) will soon set in motion the process of developing a National Digital Strategy (NDS), which is to be pursued in partnership with various industry stakeholders. WINDHOEK – At the opening of yesterday’s fifth annual Information and Communication Technology (ICT) Summit, the minister responsible for the sector proposed the establishment of policies and financial support for young people involved in ICT to showcase their innovative and business abilities. The three-day summit takes place under the theme; “Digital transformation for an ICT smart Namibia”. WINDHOEK - The Minister of Urban and Rural Development, Peya Mushelenga, yesterday reappointed the Board of Directors for the National Housing Enterprise for the period October 1, 2018 to September 30, 2021. WINDHOEK- In order to improve Namibia’s economic competitiveness with regard to the ease of doing business, reforms regarding service procedures need to be instituted. WINDHOEK - The N$190 million Peugeot assembly plant being constructed in Walvis Bay, which is expected to be ready by the end of this year, is thus far slated to only produce fossil fuel vehicles (petrol and diesel) even as the French car maker plans on moving to fully electric vehicles from 2019 in the rest of the world. WINDHOEK - In an effort to curb anti-competitive behaviour amongst Namibian companies, the Namibian Competition Commission (NaCC) yesterday launched its Corporate Leniency Programme (CLP). The CLP provides a framework for businesses engaged in cartel conduct to report themselves to the Commission and hand over evidence regarding cartel conduct in return for lenient treatment. WINDHOEK - Falling Foreign Direct Investment (FDI) is in part why many African governments have resorted to international capital markets for the purpose of financing infrastructure and other development needs, President Hage Geingob said in Geneva yesterday. WINDHOEK – Air Namibia says it intends to challenge a court case in which a now defunct Belgian aviation industry carrier, Challenge Air, is demanding more than N$400 million (EUR 25 million). WINDHOEK – The Windhoek Country Club Resort and Casino (WCCR) yesterday handed over a dividend cheque of N$6 million to government for the 2017/18 financial year, representing between 15 percent to 20 percent of EBITA (earnings before interest, taxes and amortisation). WINDHOEK - When Minister of Finance Calle Schlettwein on Wednesday tabled the mid-term budget for 2018/19, there were no adjustments in the projected overall expenditure but he cautioned that the country public’s finance face a triple threat, namely consolidation, lower economic growth and high unemployment. WINDHOEK – While no new taxes were proposed yesterday by Finance Minister Calle Schlettwein, he mentioned that his ministry had made detailed income tax proposals available for further consultation. According to him, concerns were raised that some of the proposed changes will put additional strain on the already weak economy instead of stimulating growth. WINDHOEK - International media from Reuters to CNBC was abuzz this weekend with news that Namibia has scrapped the requirement for partial black ownership and management of companies seeking mining exploration licenses. The Chamber of Mines said on Friday the requirements had been set aside by Mines and Energy Minister, Tom Alweendo, in a letter to the group. WINDHOEK - Namib Desert Diamonds (Namdia), the wholly-owned sovereign agency established to sell and market the country’s diamonds, on Tuesday handed over dividends amounting to N$50 million to the state. WINDHOEK - Popular South African fast food franchise, Nando’s, known for its peri-peri chicken and some of the most hilarious and proactive advertising in this part of the world, has packed up and left Namibia. WINDHOEK - The World Bank’s (WB) Doing Business Report 2019, released at the end of October 2018, shows Namibia dropped one rank from 106 to 107 out of a total of 190 countries. The report ranks Namibia as 7th out of 14-member states of the Southern African Development Community (SADC) just like last year. However, while five SADC member states improved the ranking by up to five places (Mauritius) WINDHOEK - The stronger growth in credit extended to the private sector compared to credit extended to individuals is in general a welcome sign since households or individuals are already highly indebted. WINDHOEK - Following the small business financing void left by the demise of the now defunct SME Bank, the Bank of Namibia (BoN) has stepped in to assist the Development Bank of Namibia (DBN) to service this crucial sector of the economy.