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Posts by Maihapa Ndjavera:
For the month of July 2022, Namibia recorded a trade deficit to the tune of N$4.3 billion, reflecting a worsened trade deficit when compared to N$2.5 billion recorded in June 2022, and N$3.6 billion recorded in July 2021. Government Institutions Pension Fund CEO David Nuyoma said there is a special need to be on guard to thwart any attempts by those who are tempted to satisfy their greed by dipping their hands in the cookie jar. The Agricultural Bank of Namibia has encouraged farmers to prepare for a better rainfall season, and at the same time urged them to continue building adaptive capacity to climate change through various strategies such as optimal rangeland management, optimal restocking and farm diversification. The Okakarara community aims to revive its business opportunities post Covid-19 through the 14th Okakarara Trade Fair themed “Unlocking business growth opportunities for Okakarara”. The trade fair started on Monday, and is expected to conclude on 10 September after two years of suspension due to Covid-19 regulations. Red flags continue being raised by various communities regarding continued uranium exploration activities being conducted in the Omaheke region. An environmental and safety engineer at a uranium mine in Kazakhstan last week explained there are certain measures the Russian company exploring for the rare mineral in the Omaheke region should undertake to ensure it does not contaminate a valuable water aquifer in the area. Taxi owners were identified as primary consumers of smuggled fuel, thereby resulting in serious economic and security implications for the country. These sentiments were shared last week by Carlo McLeod, deputy director of regulation, compliance and economics in the energy ministry. Mines minister Tom Alweendo has said the two companies that made noteworthy oil discoveries off Namibia’s coast, Shell and TotalEnergies, are in a rush to reach production stage. According to the report released yesterday by the Institute for Public Policy Research, Namibian public entities fall for fake awards where they pay huge participation fees. Two key ministries, that of mines and energy as well as agriculture, water and land reform, have pronounced themselves on uranium exploration in the Omaheke region, stating they are committed to monitoring and being decisive to ensure uranium exploration in the region is safe. Namibia is battling with high public debt, and it remains imperative for the country to invest in productive sectors that will help repay these debts. Supporting a motion in the National Assembly this week, Popular Democratic Mo v e m e n t ( P DM ) parliamentarian Elma Dienda called on government to ensure every Namibian is guaranteed access to water while allowing residents to start afresh with current and new water payments. Excellent volume growth in South Africa, encouraging exports and sound cost management delivered strong results for Namibia Breweries Limited (NBL) for the year ended 30 June 2022. The impressive results are despite a decline in Namibian beer volumes. Relevant prudential watchdogs are have been working to regulate investment in virtual assets and are drafting a framework for virtual assets and service providers. Namibia continues to accumulate debt while failing to produce much-needed economic growth. The trade ministry has embarked on an awareness campaign to share information and deliberate on issues of consumer protection and liquor licensing. Contributing to a motion in the National Assembly on Tuesday, Popular Democratic Movement (PDM) parliamentarian Elma Dienda made it clear that government’s electricity debt should not be written off, particularly for offices, ministries and agencies (OMAs) that have been in arrears for years. Economic activities continue to unfurl, registering a positive outturn for five consecutive quarters since 2021. The Bank of Namibia is expected to apply to the High Court today for the liquidation of Trustco Bank Namibia, a subsidiary of Trustco Group Holdings. Government’s public debt has been increasing at a rapid speed over the years, leaving behind a much-needed component of economic growth.