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Posts by Maihapa Ndjavera:
Although some gains have been made in fighting income inequality in Namibia, the 11-member Business Rescue Task Force (BRTF) recently stated that a lot of work remains to be done in this regard. National Unity Democratic Organisation secretary general Josef Kauandenge said it is heartless to say when you resign at 35 years of age, you must wait another 20 years in misery and poverty before accessing your hard-earned money. The Business Rescue Task Force (BRTF), appointed by President Hage Geingob, has recommended a review of the rules for the credit guarantee schemes to help small businesses in financial distress after the effect of the Covid-19. ROAD Fund Administration CEO Ali Ipinge stated that structurally, the roads sector is going through a major transition caused by technology and innovation in the motor industry. A Development Bank of Namibia Covid-19 business relief loan has helped to preserve approximately 950 jobs by providing finance of N$53 million to pay salaries of employees of the well-known tourism and hospitality operation, the Gondwana Collection. The Namibia Deposit Guarantee Authority assets remained safe and secured for the year ended 31 December 2021. Mauritius is the wealthiest country per capita in the region, followed by South Africa and Namibia. Deputy minister of energy Kornelia Shilunga said Namibia’s energy remains insufficient, and the lack of access to clean, affordable and sustainable energy has had devastating results for Namibia – indeed the rest of the Sub-Saharan region – and has created constraints on people’s social and economic progression. Employers have thrown their weight behind the growing dissatisfaction with the Financial Institutions Markets Act (FIMA), as they believe the new law poses severe risks and imposes strict obligations on employers. Research into the mining industry has revealed less than encouraging results for Namibia in terms of its policy attractiveness as a mining jurisdiction. The impact of investments already facilitated towards capital deployment or implementation in Namibia stands at N$4.83 billion. Fuel smuggling continues unabated in northern Namibia, but both governments are concerned and unhappy with this practice as even young children have been involved to make a living. Bank of Namibia governor Johannes !Gawaxab called for adjustments in administered prices in the housing, utilities and energy sub-sectors to prevent runaway inflation. After holding their breath for government to save their pockets from sky-high local fuel prices, motorists received a bit of relief. In the wake of the Covid-19 pandemic, financial institutions globally have increased their holdings of domestic government/sovereign debt, thereby tightening the linkage between the health of the financial system and the level of sovereign debt or the “financial sector-sovereign nexus”. The ninth edition of the Opuwo annual trade fair was blessed with the presence of President Hage Geingob, who said these events should be seen as conduits for business innovation. Great accomplishments are achieved where there is unity of purpose. Namibian consumers have to tighten their belts even further this winter, as electricity prices are going to increase from 1 July 2022. Spiking oil prices and the outbreak of the Russia-Ukraine conflict have contributed to the uncertainty faced by financial markets. This could potentially have negative implications for the Namibian retirement fund industry’s investment assets. For March 2022, Namibia’s export earnings stood at N$6 billion (a decrease of 3.4% monthly), while the imports bill amounted to N$8.9 billion (a decline of 17.7% monthly).