Author: Maihapa Ndjavera (Maihapa Ndjavera )

Another train derailed earlier this week, leaving the cash-strapped TransNamib counting the cost.

In May 2022, Namibia launched its first sovereign wealth fund, known as the Welwitschia Fund – and currently, the fund remains with an initial seed capital of N$300 million.

Already struggling with massive increases in food prices and expensive bank loans, consumers now have to tighten their belts even further following the announcement last week by the mines and energy ministry that the price of fuel will rise.

NATIONAL Housing Enterprise (NHE) workers on Friday embarked on a nationwide strike for the board and management to meet their demands, as the collective bargaining process had reached a deadlock. 

Preliminary outturns in many respects point to improving fiscal fundamentals aligned to positive domestic economic growth prospects and buoyancy arising from tax administration reforms, Finance and Public Enterprises Minister Iipumbu Shiimi has said.

Amid emerging challenges, the Road Fund Administration’s revenue has grown by 11% to N$2.4 billion due to operational effectiveness while its assets have also grown from N$1.8 billion to N$2 billion over the financial year ended 31 March 2022. 

Despite the national rail service provider TransNamib being in a challenging financial position due to its short-term cashflow position and limited rolling stock capacity, government deemed it unnecessary to allocate a single penny for the 2023/24 financial year. 

While Finance and Public Enterprises Minister Iipumbu Shiimi continues to allocate billions in the domestic budget to prioritised sectors like education, despite repeated undesirable results, he has shown his frustration while reading his statement. 

The National Housing Enterprise (NHE) workers will embark on a nationwide strike tomorrow to force the board and management meet their demands after collective bargaining reached a deadlock.  

Finance and Public Enterprises Minister Iipumbu Shiimi yesterday shocked friend and foe when he tabled a whopping N$84.6 billion budget, with an increase in
social grants and a tax break for workers.