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Posts by Maihapa Ndjavera:
The Namibia Civil Aviation Authority (NCAA) in its 2020/2021 annual report states that revenue from the aviation industry remained minimal with overall revenue recorded during the period ended March 2021 down by 83% compared to the previous year. Trade minister Lucia Iipumbu said micro, small and medium enterprises (MSMEs) are the roots of many economies around the globe and would play the same role in Namibia if supported and developed. The Teachers Union of Namibia (TUN) has threatened to take tough action against government if their call for salary increases continues to fall on deaf ears. This the TUN stated last week during a media briefing to address the issue of long overdue salary adjustments in the public sector. With the high demand for fruit, particularly citrus, during the peak Covid-19 infections, Namibia’s fruits inflation remained significantly elevated. This resulted in fruit inflation increasing by 14.9% in December 2021 on the back of increasing demand and low supply. The Namibia Power Corporation (NamPower) imported 67.4% of power from neighbouring countries and the Southern African Power Pool (SAPP) market to meet the country’s electricity demand. This is an increase from 59% of the 2019/20 financial year. The Institute for Public Policy Research is taking the fight against corruption to another level. Consumers who tightened their belts during the last couple of years due to the impact of the Covid-19 pandemic, coupled with a persistent recession, now have to reduce their spending even further because the Bank of Namibia yesterday increased the repo rate with 25 basis points from 3.75% to 4%. The annual inflation rate for January 2022 increased to 4.6%, compared to 2.7% recorded in January 2021. Outlining its agenda for 2022 during their annual general meeting this week, Team Namibia’s Business Manager at Outsol Solutions, Sidney Hanstein, said the organisation is ready to be a relevant and influential voice of business, products, and industries in Namibia. The director of Hanganeni Artisanal Fishing Association (HAFA), Herman /Honeb, is outraged about illegal fishing activities in Henties Bay, Swakopmund and Walvis Bay. According to /Honeb, illegal fishing is compromising the price of high value fish for its members. Bank of Namibia governor Johannes !Gawaxab believes the time is ripe for businesses to readjust their operational models in order to arrest the negative effects of the pandemic and revive the struggling economy. The head coach of Namibia Correctional Service (NCS) who are the reigning champions of the MTC Netball Namibia Premier League (NNPL), said their preparations for the Fast Five tournament tomorrow faced a bit of a challenge as they could not get enough training due to persistent rain over the past few days. Black Business Leadership Network of Namibia (BBLNN) president Irene Simeon-Kurtz last Friday affirmed the decision to challenge the repossession of properties by commercial banks. She believes commercial banks are on an onslaught against the plight of black businesses in the country. Director for research and financial sector development at the Bank of Namibia, Emma Haiyambo, said the bank estimates a positive growth from 2021. This is after the domestic economy performed very poorly in 2020, registering a negative growth of 8.5%. The Ohlthaver & List Group and their joint venture partner CMB.TECH yesterday launched Namibia’s first green hydrogen production plant to be built in the Erongo region. Namibia remains one of the most unequal countries in the world, with a Gini score reported at 59.1 in 2015. The Gini Coefficient is also known as the Gini index, which is the statistical measure used for the distribution of income among the population of a country. Sectors dependent on travel and government spending are expected to remain below their pre-Covid-19 levels for much longer than expected. The affected sectors include hotels and restaurants, transport, construction, public administration, defence and education. The Black Business Leadership Network of Namibia (BBLNN) has reiterated its call for banks to roll out reasonable debt forgiveness to individuals and businesses. An increase in the generation of electricity for own consumption by customers like solar rooftops, which is not subject to the Electricity Control Board levy, was one of the factors that contributed to a reduction in the volume of electricity supplied. Finance minister Iipumbu Shiimi yesterday tabled a N$61.5 billion budget for the 2022/23 financial year that indicated a total revenue projection of N$59.7 billion, some 11.7% higher than estimated revenue for the current financial year.