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Posts by Maihapa Ndjavera:
In last week Wednesday’s tabling of the 2021/22 national budget by finance minister Iipumbu Shiimi, the projected domestic growth outlook is weak and insufficient to make a substantial dent in poverty reduction and the creation of decent jobs. The Environment Investment Fund (EIF) last week launched the third Sustainable Development Awards in Windhoek in cooperation with the Sustainable Development Advisory Council (SDAC). Minister of Industrialisation and Trade Lucia Iipumbu launched Namibia’s online import and export system (Imex) In a debate in the national assembly last week on the trade benefits of the Walvis Bay, Ndola and Lumbubashi Development corridors, trade minister Lucia Iipumbu said these corridors would play a very significant role in boosting intra-African trade. The National Petroleum Corporation of Namibia has successfully taken over the country’s N$5.5 billion national fuel storage facility. Chairperson of the Business and Intellectual Property Authority (BIPA) board Riundja Kaakunga said it has become evident that a revision of the authority’s corporate strategy of 2017-2022 is required. Kaakunga feels the revision is necessary, given the significantly reduced domestic economic activity. The Namibian government says it recognises the importance of developing a fully-fledged automotive assembly industry to help boost the local economy. In efforts to bring TransNamib back on track to profitability, CEO Johny Smith, yesterday at a stakeholder engagement said the company needs N$2.6 billion for their five-year business plan to reach break even by 2023. Sanlam announced on Tuesday that it is repositioning its business to become a purpose-led organisation, through a purposeful brand and new slogan of ‘Live With Confidence’. In a recently launched private sector development survey (PSDS) 2020/2021, prospects for local investments in 2021 look rather bleak, and in fact below-average investment levels can be expected. This is despite economic analysts pinning domestic economic recovery on both local and foreign investment. Namibia’s total domestic savings as a ratio of GDP is estimated to have increased to 18.5% in 2020, from 11.9% in the preceding year, despite some significant dissaving by the government. TransNamiba ǁkhawa oahā-ūs !gâi hōǂgāsa kurus ǀgaub !nâs ǂnamipeb ge Dana Sîsenǂuira mâisab Johny Smitha, ǂoa ge wekheb Wunstaxs aib ge !âǀhuru-aon ǀkha ūhâ i ǀhaos tawa ge mî, TransNamib N$2.6 biljun marisa ǂhâba hâsa ǁîb di koro kurigu ǂharugub ǀaweǁguiba 2023 !nâ sī!nâs !aroma. The government is considering better ways of providing a clear roadmap on how natural resources, such as minerals, can be locally beneficiated to contribute to downstream industrialisation. One of the options is through the provision of feedstock and other inputs to the manufacturing industry in an environmentally sustainable way. Letshego Holdings Namibia presented the worst performer on the Namibia Stock Exchange (NSX) during the first quarter of 2021, as their share price was reduced by 28.6%. Other companies classified as worst performers were Oryx Properties, down by 8.9%, and Namibia Breweries down by 6.8%. Both retention and reallocation employment policies can help mitigate the severe socio-economic impact of the Covid-19 pandemic on workers. The African Continental Free Trade Area (AfCFTA) secretariat secretary general, Wamkele Mene yesterday congratulated Namibia on its excellent infrastructure, saying this is a solid foundation to benefit from the continental trade pact. President Hage Geingob was welcomed with a seat at the Holy Fire on Friday when he arrived at the traditional homestead of Namibia’s national leader late Chief Hosea Kutako, who passed away in 1970. NamWater revenue increased by N$52 million from N$1.624 billion to N$1.677 billion in the 2019/20 financial year, representing an increase of 3.2%. According to the corporation’s CEO, Abraham Nehemia, the overall financial strength of the corporation increased year-on-year, as the net equity position improved by 7%. Failure by some NamPower customers to honour their electricity debts yesterday landed them in hot water, as by 11h00, the corporation commenced with the suspension of services. The Covid-19 outbreak that reared its ugly head at the beginning of 2020 has harshly impacted economic activity across the globe to the extent that no country has been unaffected.