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Posts by Maihapa Ndjavera:
Namibia registered a deficit on its current account from a surplus registered in the previous quarter while the country’s international investment position (IIP) recorded an increased net asset position. Total value added in real terms nationally reached the lowest point in quarter three (Q3) of 2020 since Q1 of 2013. Bereaved families losing loved ones to the novel coronavirus are still finding themselves at odds with protocols put in place by the authorities to handle bodies of victims of the pandemic. In an analysis for the mining sector for November 2020, the mining composite index declined 16.2% when compared to the preceding month, and 7.3% for November 2019, respectively. According to trade statistics for November 2020, released yesterday by the Namibia Statistics Agency (NSA), the reduction in the index is due to the production of all minerals that were down except for diamond that registe The agriculture ministry last week suspended the import and in-transit movement of live poultry, birds, and poultry products following the outbreak of a highly pathogenic avian influenza (HPAI) in some countries. With above-average rainfall having inundated Namibia in recent days after a lengthy drought that affected the agricultural production, President Hage Geingob called on farmers to capitalise on the good rain. The World Bank in its latest report noted that emerging markets and developing economies (EMDE) policymakers will need to tackle the challenge of avoiding premature fiscal tightening in the short-term by unwinding fiscal support measures and ensuring fiscal sustainability over the medium term. While local poultry production has been steadily increasing over the last five years, with significant growth specifically emanating from numerous SMEs and a few medium-scale producers, a recent poultry ban has the potential to prove the country can be self-sustainable in terms of demand. Some grieving families losing loved ones to the dreaded Covid-19 pandemic have been left with little option but to break an old taboo by opting to cremate the remains of their departed. The Covid-19 pandemic has caused major and devastating disruptions in the global economy, from which the southern African region and Namibia, in particular, was not spared. Economic activity has been hit by reduced personal interaction, owing both to official restrictions and personal decisions. The Mineworkers Union of Namibia (MUN) is concerned about a delay in the investigation of a fatal incident that happened about two weeks ago. Although recent international vaccine approvals have raised hopes of a turnaround in the devastation caused by the Covid-19 pandemic, renewed waves and new variants of the virus pose concerns for this outlook. It will no longer be business as usual at Telecom Namibia (TN) as the time has come to dream and focus on a re-imagined company as a major player in the Namibian ICT landscape. The overall liquidity position of the banking sector decreased notably during December 2020. Central bank figures show liquidity balances held by commercial banks decreased by N$1.1 billion, month-on-month, to an average of N$1.2 billion in December 2020. Two strategic projects at the Road Fund Administration (RFA), namely the mass distance charges automation project (MDC) and the tolling study project, have been earmarked to address efficiency and equity principles while at the same time focusing on the diversification of the company’s revenue base. Namibia has registered a drop in rhino poaching from 52 cases in 2019 to 31 since the beginning of last year. The Trustco Group Holdings normalised headline earnings decreased by between 141% and 121% resulting in a headline loss of between N$225 million and N$114 million compared to the headline earnings of the audited results of N$550 million. Keetmanshoop plans to finalise the servicing of about 700 plots through 2021 over various projects managed by the municipality. According to FIC 2019/2020 annual report, the case outcomes by integrated investigative task forces resulted in various arrests on fraud, theft, corrupt activities, tax offenses, tax assessments The Namibia Airports Company (NAC) intends to invest over N$1.3 billion in infrastructure development across all eight airports in the country within the next five years to improve compliance, operational efficiency and revenue generation.