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Posts by Maihapa Ndjavera:
The Namibian Investment Promotion and Development Board (NIPDB) wants an ombudsperson for investor grievance resolution. However, President Hage Geingob has warned the board not to create extra red tape. The annual inflation rate for the transport sector, which accounts for 14.3% of the consumer basket, continued increasing by 10.6% in July 2021, compared to -1.2% recorded in the corresponding period last year. The Agricultural Bank of Namibia, through its mandate to promote the growth and development of the agriculture sector, has advanced a total of N$3.5 billion to beneficiaries towards the end of the 2020/21 financial year. President Hage Geingob yesterday warned that Namibia cannot talk about development and peace if the biggest elephant in the room, that of apartheid, is not addressed. Namibia Chamber of Commerce and Industry (NCCI) and the Namibian Investment Promotion and Development Board (NIPDB) are working together to promote economic growth in the country.. The Namibian Investment Promotion and Development Board (NIPDB) is disturbed by a severe skills shortage in Namibia and is keen on ensuring the country develops competitive expertise required by investors. Namibia is at a desperate juncture in its economic development for the introduction of a diversification strategy as the country cannot rely indefinitely on its natural resources and volatile commodity prices for growth. Windhoek mayor Job Amupanda has said the city now has a detailed plan to address the long-standing land and housing dilemma, and will not tolerate illegal occupation of land. Acontinued weak economic environment coupled with the prevailing low interest rate environment due to Covid-19 impacted Standard Bank Namibia (SBN)’s results with profit after tax declining by 16.5% compared to the prior period. This is according to the bank’s interim financial statements for the six months ended 30 June 2021 released last week. Windhoek mayor Job Amupanda said the city will no longer be relying on what he referred to as “corrupt tenderpreneurs and developers” to deliver land and housing. Instead, the mayor said, the city is investigating new initiatives to solve its housing crisis. Mines and energy minister Tom Alweendo this week said establishing a local oil refinery will not promise cheap fuel for domestic consumption. He made these remarks on Tuesday in response to a question from United Democratic Front (UDF) parliamentarian Themistokles Murorua in the National Assembly. Popular Democratic Movement (PDM) parliamentarian Inna Hengari this week in the National Assembly stated that youth unemployment in Namibia is more than twice than that of adults.