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Posts by Maihapa Ndjavera:
After two years of Covid-19 pandemic disruptions, Namib Desert Diamond (Namdia) navigated the negative impact as it performed well during the 2021/22 financial year. Namibia’s national oil storage facility (NOSF) was financed mainly by two loans from the Development Bank of Namibia and the African Development Bank. Director general of the National Planning Commission Obeth Kandjoze yesterday claimed allegations made by Affirmative Repositioning activist Job Amupanda, with regard to the green hydrogen project, are unfounded, twisted and manipulated to sensationalise a genuinely competent effort by government. Much to the expectations of local analysts, finance minister Iipumbu Shiimi yesterday tabled a 2022/23 mid-term budget review that reflects a resource allocation that is both pro-poor and sustainable. The Ohlthaver & List Group and their joint venture partner CMB.TECH, known as Cleanergy Solutions Namibia, who are responsible for a green hydrogen production plant to be built in the Erongo region, are challenged with long equipment lead times. Yesterday, the Namibian Employers Federation (NEF) released some shocking figures with regards to the negative effects of Covid-19 on the local economy. In 2019, 158 companies and in 2020 some 52 companies filed for liquidation in the High Court. Ambassador of the European Union (EU) delegation to Namibia Sinikka Antila, yesterday said Namibia’s exports to the EU market has grown by 50%, and at one point reached €36 billion (about N$650 billion) while imports only grew by 8.9%. Agriculture minister Calle Schlettwein has accused South Africa of over pricing sugar sold locally and of taking advantage of an agreement that prohibits Namibia from buying sugar from other countries. Hyphen Hydrogen Energy, originally proposed a standstill on development of other hydrogen projects until the end of a defined feasibility period as well as a ‘most favoured project’ obligation on the part of Namibian government. Rapid population growth at Osona Village near Okahandja necessitated the upgrade of the power grid from 1MVA to 2MVA. The residential and commercial property area has over 8 000 residents and more than 1 600 housing units. The public debt stock is expected to increase to N$138.4 billion, equivalent to 69.6% of gross domestic product in FY2022/23. This shocking figure was shared by the finance minister Iipumbu Shiimi last week as he tabled a 2022/23 mid-term budget review in the National Assembly. At the launch of Namibia’s One Stop Centre for investors on Friday, trade minister Lucia Iipumbu said this development is a crucial investment facilitation mechanism, where relevant government offices are coordinated at a single point to provide prompt, efficient and transparent services to investors. Namibia Investment and Promotion Development Board (NIPDB) CEO Nangula Uaandja has reiterated that Namibia continues to export much-needed jobs to other countries. As a revenue alternative, the Road Fund Administration (RFA) has reiterated its stance that toll roads are a possible solution to collect taxes to fund road infrastructure in the country. The Namibia Competition Commission (NaCC) has concluded the pension fund administrators’ market can be considered an oligopolistic market. Namibia is en route to achieving large-scale, low-cost renewable energy development, designing models for sustainably maximising fiscal revenue and local development in renewable energy investments as well as green ammonia production. The Ohlthaver & List Group and their joint venture partner CMB.TECH, known as Cleanergy Solutions Namibia, who are responsible for a green hydrogen production plant to be built in the Erongo region, are challenged with long equipment lead times. Deputy finance minister Maureen Hinda-Mbuende says the implementation of measures to provide tax relief to taxpayers will be fast-tracked. -says cost outweighs benefit-Cabinet backs plan in principle -funding gap stands at N$2.5bn Bank of Namibia (BoN) governor Johannes ǃGawaxab said ensuring optimal local content in the exploitation of resources must remain prominent. He thus urged for the finalisation and adoption of the country’s local content policy, which he said is of paramount importance.