Advertise Here

Namibia Joins African Countries Regulating Crypto

NDN Staffer

WINDHOEK, July 27 — In a significant development, Namibia has joined the growing list of African countries regulating cryptocurrency by passing the Namibia Virtual Assets Act 2023. The law, approved by the National Assembly on July 6, signed by the President on July 14, and officially inserted into the Gazette of the Republic of Namibia on July 21, aims to govern the operations of virtual asset service providers (VASPs).

Under this new law, VASPs are required to obtain a license from the government and adhere to various regulations, including measures to combat anti-money laundering and counter-terrorism financing (AML/CTF).

Notably, cryptocurrencies are not recognized as legal tender by the law, but their use as a payment method is permitted.

To ensure compliance, the law imposes stringent penalties for VASPs that fail to abide by the regulations. Violators may face fines of up to 10 million Namibian dollars (approximately $670,000) and up to 10 years in prison.

Namibia’s decision to regulate cryptocurrency aligns with a broader trend across Africa. Other African countries, such as South Africa, Botswana, Kenya, Mauritius, and Seychelles, have also enacted laws to govern cryptocurrencies.

The continent is witnessing a significant surge in cryptocurrency adoption, with crypto transactions in Africa peaking at $20 billion per month in mid-2021, as reported by Chainalysis.

Various factors contribute to the rising adoption of cryptocurrencies in Africa, including the region’s high levels of financial exclusion and the demand for more efficient and secure methods for sending and receiving money.

While cryptocurrency regulation in Africa is still in its early stages, the proactive and progressive approach taken by many countries indicates the continent’s recognition of the potential benefits and risks associated with this emerging technology.

July 27, 2023 0 comment
0 Facebook Twitter Google + Pinterest
Onamutai Residents Benefit from New Women’s Community Open Market

By Lylie Happiness

Oshakati, 27 July- Residents of Onamutai, located in the Oshana Region’s Ongwediva Constituency, are celebrating the establishment of a new women’s community open market that promises to uplift the community’s economic prospects.

For over three decades, community members, particularly women, have been selling their produce under the shade of a tree to sustain themselves. However, this challenging chapter is now a thing of the past, thanks to the efforts of EDDD Investment. The company invested N$111,000 to construct a modern women’s community open market that includes five lockable stalls and provides clean drinking water.

The open market has quickly become a beacon of hope for local entrepreneurs, offering them a formal platform to showcase and sell their goods while generating much-needed income for their families.

Andreas Uutoni, the Councillor for the Ongwediva Constituency, expressed gratitude for EDDD Investment’s social responsibility and their significant contribution to this transformative project. He noted that the same company had previously funded the provision of clean water for the Omaalala community with an investment of N$37,000. The Omaalala community is currently enjoying the benefits of the clean water provided by this initiative.

Rural women, such as Mbwalala Simon, a vendor at Onamutai Village, play a pivotal role in driving sustainable development through economic and social changes. Simon highlighted that they have been engaged in selling food since the 1990s, often moving from one tree to another in search of shade. However, the newly constructed open market has significantly improved their working conditions, especially during the rainy season when the lack of proper shelter posed challenges.

The establishment of this women’s community open market not only offers economic opportunities for individuals and families but also empowers the entire community and contributes to overall economic productivity.

The community of Onamutai and the Ongwediva Constituency at large express their heartfelt appreciation for this transformative initiative, as it enhances the well-being and prosperity of all its residents.-Namibia Daily News

July 27, 2023 0 comment
0 Facebook Twitter Google + Pinterest
Mariental Photographer, Romanus Kayanga, Shines Light on Local Brands in Chicago

By Charmaine Boois

Mariental, 27 July 2023 – This is a tale of art, tradition, and opportunity. Meet Romanus Kayanga, a visionary 31-year-old photographer hailing from Mariental, Namibia, who is making waves in the bustling streets of Chicago by promoting local brands through the captivating lens of street photography. His work has caught the attention of a well-known model agency in the city, offering Namibian designs a chance to shine on an international stage.

While in the vibrant city of New York, Romanus serendipitously connected with a prominent model agency in Chicago, eager to collaborate with an African photographer for their street photography projects. Seizing the opportunity, Romanus skillfully showcased not only his photography talents but also the cultural richness of Mariental’s local brands, including the likes of Milk Honey, Gevaarlik, and his mother’s very own creation, TalsarazaAibes Fashion. The latter, featuring shirts made from the exquisite khoe-khoe Nama traditional material, particularly captured the imagination of the model agency, leading to their purchase of the designs to explore future clothing possibilities.

“I am overjoyed to witness the admiration our country’s traditional material has garnered. It’s inspiring to see their interest in working with Namibian fashion designers in the years to come,” expressed Romanus with enthusiasm.

Romanus Kayanga’s journey to the heart of Chicago’s fashion scene was no mere coincidence. As one of the chosen Namibians and the sole resident of Mariental, he participated in the prestigious Mandela Washington for Young African Leaders. Selected as one of the 25 esteemed fellows, Romanus is currently engaged in a six-week institute hosted by the University of Iowa, refining his leadership and business acumen.

With a versatile background encompassing over a decade in information technology, more than six years in education, and extensive experience in the media industry, Romanus currently serves as a systems administrator and IT specialist for the Hardap Regional Council. He actively focuses on network administration and computer software and hardware maintenance.

Beyond his professional pursuits, Romanus is the proud owner of the Kayanga Media Group, a company dedicated to media and information and communication technology. Through this venture, he initiated two remarkable community projects: “ICT for All,” offering free ICT training to the local community, and “Media for All,” providing young individuals with training in videography and photography.

Romanus spoke passionately about his goals, saying, “My objective is to ensure that all communities in Namibia, especially my region, have access to information and technology using the knowledge and skills I gained from this fellowship. I want to provide my hometown’s residents the opportunities they deserve by empowering and preparing them.”

Romanus Kayanga’s journey is far from over, as he has been invited to the prestigious Mandela Washington Fellowship Summit from July 31 to August 2, 2023. At this gathering, he will engage with U.S. government agencies, business representatives, and organizations with a vested interest in Africa. These interactions will pave the way for enduring partnerships, allowing Romanus to further his leadership pursuits beyond the fellowship.

“With the knowledge and skills I have acquired, I am eager to collaborate with small businesses from my town and region on projects that will open up opportunities for them too when I get back,” affirmed Romanus with great anticipation.

In the dynamic intersection of art, tradition, and opportunity, Romanus Kayanga’s journey serves as an inspiration, proving that a single visionary artist can bridge continents and bring well-deserved recognition to local brands from the heart of Mariental to the bustling streets of Chicago. As he continues to explore uncharted territories, Romanus remains committed to uplifting his community, leaving a lasting legacy of empowerment and creativity. ~Namibia Daily News

July 27, 2023 0 comment
3 Facebook Twitter Google + Pinterest
Enhancing Financial Stability Through Macroprudential Policy: The Bank of Namibia’s Efforts

By Josef Kefas Sheehama

The Bank of Namibia convened its Macroprudential Oversight Committee (MOC) on the 10th of July 2023 to evaluate the risks and vulnerabilities faced by the Namibian Financial System. The Committee emphasized the importance of monitoring inflationary pressures and geopolitical tensions, which could potentially hinder economic recovery and adversely impact the financial system.

The primary objective of macroprudential policy is to safeguard financial stability. This involves ensuring that the financial system can absorb adverse shocks rather than amplifying them. To achieve this, the Bank of Namibia adopts a forward-looking approach, aiming to build resilience in the financial system during prosperous times so that it can be utilized during economic downturns. Measures are designed to prevent the accumulation of imbalances that may lead to financial distress.

However, the macroprudential policy remains a work in progress, and its interactions with monetary and fiscal policies, as well as its links with micro-prudential regulation and external shocks, require careful consideration. Despite its challenges, the implementation of effective macroprudential policies can lead to smoother economic and financial cycles, ensuring price stability and supporting specific industrial policies.

Namibia’s real Gross Domestic Product (GDP) growth is expected to decline in 2023 and 2024 due to weaker global demand. Despite registering a growth of 4.6 percent in 2022, the domestic real GDP growth is anticipated to moderate to 3.0 percent in 2023 and further slow down to 2.9 percent in 2024. The tight monetary policy stance is projected to keep inflation below the central bank’s target of 6.0% in the medium term.

The International Monetary Fund (IMF) has revised its global economic growth outlook, indicating a decline to 2.8 percent in 2023 from 3.4 percent in 2022, with an expected recovery to 3.4 percent in 2024. The global economic outlook faces downside risks, such as debt distress in emerging markets and the implementation of stringent monetary policies to combat inflation and geopolitical tensions.

Macroprudential policy in Namibia has a positive impact on economic growth, especially in maintaining financial system stability and promoting investments. However, its direct impact on both financial and real economies should be carefully assessed, as it may entail economic costs while stabilizing growth.

To improve our understanding of macroprudential policies and their interactions with other policies, effective communication from the Macroprudential Oversight Committee is crucial. Policymakers must ensure transparent communication with the public and professionals throughout the macroprudential cycle, providing timely warnings of systemic risks and explaining the rationale behind introducing and implementing macroprudential measures.

The implementation of macroprudential policy also raises questions about refining existing frameworks and governance. Addressing the appropriateness of instruments, their interactions, and calibration are essential to enhance the effectiveness of macroprudential actions. Additionally, there is a need to improve the quantitative approach to macroprudential policy measurement, including the measurement of the macroprudential stance, and to consider extending the scope of macroprudential regulation to non-bank institutions.

In conclusion, well-calibrated macroprudential policies are essential for maximizing economic growth and preventing economic crises. The Bank of Namibia’s collaboration with NAMFISA, the non-banking institutions regulator, demonstrates a comprehensive effort to monitor risks and take necessary interventions. By navigating the challenges and refining their approach, the Bank of Namibia sets a new standard for promoting financial stability and prudent decision-making.

July 27, 2023 0 comment
0 Facebook Twitter Google + Pinterest
Residents of Otjiwarongo’s Single Quarters Protest Against Municipality Plan to Decongest the Camps

By Kaleb Nghishidivali

Otjiwarongo, July 27 – Residents of Otjiwarongo’s Single Quarters, Orwetoveni location have voiced their utter dismay and anguish over the municipality’s Single Quarters decongestion plan. Residents marched peacefully along the street today to protest the single-quarter decongestion proposal.

Residents have been anxiously awaiting the implementation of a plan to decongest the town’s unsanitary single quarter since January.

According to reports, a survey conducted in August 2020 found that Single-Quarters within Otjiwarongo were overcrowded and uninhabitable owing to cleanliness issues.

Approximately 70 protesters march from single quarters to the municipality office to voice their strongest feelings through the petition.

Residents are asking that the outgoing CEO, Moses Matyayi, rectify their problems before taking over as mayor of Windhoek.

Protesters holding placards are requesting that the whole Otjiwarongo municipality resign owing to the fact that they have not brought about any progress since the previous year.

Protesters accuse the CEO of engaging in corruption. As a result, the locals have asked the anti-corruption commission to intervene.

Irene Ushona, who delivered the petition on behalf of the group, stated that the Otjiwarongo municipality council promised to accommodate some residents in low-cost housing programs such as Shark Dwellers, development workshops, and the Built Together program, but no one from single quarters has been included in such programs.

According to Uushona, roughly 4000 candidates were pushing and dragging others for around 400 plots under development workshop.

The plans to decongest the apartments entail illuminating residents’ living circumstances by transferring them to Camp 5, which serves as a reception area.

“We will not relocate these quarters for your reception area if no basic services such as water, sanitation, and electricity are provided at that area, because we have such services now,” Uushona said, concerned that the reception area is only for temporary settlement and that no permanent structure will be built according to council plans.

The residents emphasized that they are mostly concerned about unanswered questions about what will be done or what will happen to those who have made structural improvements to single-family homes, as some residents went so far as to build toilets with the permission of the former municipality Chief Executive Officer. And what will happen to those who will become homeless as a result?

“Our previous petition received no attention, but the very same minister will come to seek our votes in the 2024 elections,” Uushona was concerned.

Uushona stated that the municipality of Otjiwarongo has failed to address the issue of low-cost housing.

Residents are dissatisfied with the area where the council intends to move them, citing inadequate water pressure.

Uushona further stated that they are concerned about their school-age children, believing that this change would negatively influence them, adding that one pays more if he lives distant from his company and institutional places.

The petition was received by Otjiwarongo mayor his worship Candy Shivute in the presence of CEO Moses Matyayi, who stated that he remembered the council responding to the residents’ initial appeal in March.

“If there is any new development that we did not address in the response, we will approach that,” Shivute said, asking people to visit the minister if they felt their response to the single quarters residents was insufficient. – Namibia Daily News

July 27, 2023 0 comment
0 Facebook Twitter Google + Pinterest
Conceptualizing Teacher Leadership in Namibian Schools

By Andreas Amesho

In the pursuit of school improvement, teacher leadership is widely recognized as a crucial element. However, in Namibian schools, this concept remains largely misunderstood by most teachers. Leadership is often associated with Heads of Departments and Principals due to their formal positions, but it is essential to acknowledge that teachers also play leadership roles within their positions.

The notion of teacher leadership emerged as schools transitioned from autocratic to democratic leadership after independence. While autocratic leadership centralizes power in the leader, democratic leadership emphasizes shared responsibilities among staff members to achieve common organizational goals.

The introduction and implementation of teacher leadership in Namibian schools can potentially lead to conflicts if not handled properly. Teachers are recruited into the profession without being adequately exposed to the concept of teacher leadership beyond their teaching duties. This lack of awareness limits their engagement with school-wide leadership.

Teacher leadership is a process wherein teacher leaders drive change in their schools for the benefit of all learners and the school community. These teacher leaders go beyond the confines of their classrooms and work collaboratively with colleagues, school management, learners, and families. Their impact on learners’ academic and social development, as well as the wider community, is substantial.

Teacher leaders are instrumental in fostering collaboration to maintain a positive school culture and climate, which is vital for achieving common goals. They conduct and use research to improve teaching practices and student learning, promoting professional growth within the school.

Additionally, teacher leaders are responsible for preparing instructional materials that engage students and enhance their learning experiences. They extend their influence by improving outreach and collaboration with students’ families and the broader community.

Furthermore, teachers play a crucial role in managing and caring for school infrastructures. Proper management of these resources ensures their longevity and optimizes the utilization of funds for other developmental projects.

Identifying teacher leaders can be challenging, as the concept of teacher leadership is not tied to a specific position or title. It exists in various forms and can be exhibited by teachers who oversee their classrooms. To fully embrace the notion of teacher leadership, it is imperative to educate teachers about their roles beyond the classroom.

By sensitizing teachers to their roles as leaders within their positions, Namibian schools can harness the potential of teacher leadership to conserve resources and promote overall development.

The views expressed here are entirely mine.

Andreas Amesho

Holder of a Master’s degree in Educational Leadership, Management, and Policy

PhD (candidate) in Education: Leadership and Management at the Philippines Christian University (PCU), Manila

July 27, 2023 0 comment
0 Facebook Twitter Google + Pinterest
The Growing Threat of Cybercrime and the Need for Vigilance

By Staff Reporter

WINDHOEK, July 27 — In today’s interconnected world, where our devices are constantly connected to the Internet, we often overlook the security risks we face daily. However, the alarming truth is that cybercrime is on the rise, and its costs are projected to reach a staggering $8 trillion in 2023, with an estimated increase of $10.5 trillion by 2025, according to Cybersecurity Ventures. To put it into perspective, this amount exceeds the combined worth of tech giants like Apple and Amazon, making cybercrime a massive concern that demands immediate attention.

Just like traditional theft and burglaries, the chances of falling victim to cybercrime are remarkably high, whether you’re an individual or part of an organization. The key to mitigating these risks lies in having a well-thought-out response plan in place. Relying solely on virus scanners is no longer sufficient in this day and age. Adequate procedures for investigating, containing breaches, and notifying affected parties and authorities are crucial. Additionally, organizations must have comprehensive plans for restoring systems and data after a breach occurs.

The ever-evolving nature of cybercrime means that new threats emerge each year, taking different forms. Education and awareness are vital in recognizing these various forms of cybercrime.

One prominent example is ransomware, malicious software that infiltrates computer systems and encrypts files, holding them hostage until a ransom is paid for the decryption key. Ransomware attacks have become increasingly profitable for cybercriminals, as the cost of paying the ransom is often lower than dealing with the consequences of data breaches or restoring systems from backups.

Moreover, cybercriminals are now exploiting current trends in Artificial Intelligence (AI) to launch more sophisticated attacks. AI-powered attacks can adapt quickly to changing environments, making them challenging to detect and defend against. From phishing emails to social engineering scams, AI is employed to create convincing and deceptive tactics to trick users into compromising their systems unwittingly.

To combat these evolving threats, hypervigilance is essential, and the adoption of advanced cybersecurity tools and techniques becomes a necessity. AI-based cybersecurity solutions play a crucial role in detecting and blocking attacks in real-time, preventing potential damage.

Another vulnerability that cybercriminals exploit is the human element. Through tactics like phishing and social engineering, attackers target an organization’s user base to gain unauthorized access. User education and awareness training are vital in mitigating these risks effectively.

Cybersecurity should be a top priority in both business and personal life. Just as we diligently check and recheck if we’ve locked our front door or car, our ICT systems deserve the same level of scrutiny. This requires ongoing vigilance and attention to safeguarding sensitive information and digital assets. Cybersecurity companies and ICT specialists must stay ahead of cybercriminals by continuously monitoring systems and investing in robust security measures.

Complacency in cybersecurity can have dire consequences, even leading to the downfall of businesses. By staying informed, educating employees about potential pitfalls, and taking proactive measures to protect systems and data, individuals and organizations can help ensure their safety and security in the digital age.

July 27, 2023 0 comment
0 Facebook Twitter Google + Pinterest
5 Namibian Teenagers Awarded Prizes in Chinese-African Art Competition

By Lylie Happiness

Windhoek, 27 July- The China Embassy in Windhoek hosted an award ceremony on July 26, 2023, for an art painting competition where 5 talented Namibian teenagers were selected by both the Chinese and African sides, with one of them earning the prestigious second prize.

The painting competition, held under the theme “My Dream,” was co-hosted by the Secretariat of the Chinese Follow-up Committee of the Forum on China-Africa Cooperation (FOCAC) and the China Manned Space Engineering Office. It aimed to provide young artists with the opportunity to express their dreams through their artwork.

The competition received an overwhelming response, with over 2000 applications, and 41 works were submitted by the Namibian teenagers who were invited to put their dreams onto canvas.

A joint panel of judges from the Chinese and African sides selected the winning entries, awarding 10 First Prizes, 15 Second Prizes, and 25 Third Prizes from among all the submissions. In addition to receiving trophies, the first-prize winners were granted approximately 550 USD, second-prize winners received about 350 USD, and third-prize winners were awarded around 300 USD. Furthermore, 10 of the awarded artworks will be taken to the Tiangong space station by the Shenzhou crewed spacecraft later this year and will be exhibited on various social media platforms to reach a wider audience.

During the award ceremony, Mr. Shein Jian, the Minister Counsellor of the China Embassy, expressed the strong interest that African youth have shown in space exploration and their dreams of one day “flying to space.” He assured the support of the Chinese Embassy in fostering these “African Dreams” of exploring the vast universe.

Among the winners, Laimi Ndapunikwa Mbangula, who secured the second prize, received a trophy and an amount of N$6000.00. Laimi, a graduate from UNAM, expressed her gratitude to her lecturer for inspiring her and making her realize the potential of her artistic talents. She acknowledged the challenges she faced due to the misconception that art could not lead to a fruitful career. However, her triumph in this competition has reinforced her belief in the significance of art as a medium of expression and storytelling.

Another talented young artist, 16-year-old Missy Namupembe, currently studying at Chairman Nao Zedong High School, also emerged as one of the competition’s winners. Missy expressed her long-standing passion for art and her desire to attend art classes, which had been hindered by financial constraints. With this opportunity, she hopes to receive the necessary financial support to pursue her art studies further. Her dream is to enroll in the College of Art and transform her passion into a successful career.

The recognition and prizes received by these young Namibian artists highlight the importance of nurturing and encouraging artistic talent among the youth. The China-Africa art competition serves as a platform to foster cultural exchange and provide opportunities for young artists to showcase their creativity and aspirations on an international stage.- Namibia Daily News

July 27, 2023 0 comment
1 Facebook Twitter Google + Pinterest
Kawana Inaugurates Namasira Sub-Police Station in Kavango West

By Kaleb Nghishidivali

Nkurenkuru, July 27 – The Namasira Police charge office, a project costing over N$1 million, was officially opened yesterday in the Kavango West Region.

Situated 75 kilometers west of Nkurenkuru town, the Namasira police station shares borders with the Kavango West and Ohangwena regions.

During the inauguration, Minister of Home Affairs, Immigration, Safety, and Security (MHASS) Alterbt Kawana emphasized that the establishment of such infrastructure exemplifies the government’s unwavering commitment to enhancing safety and security throughout the nation.

Kawana recounted his visit to the area last year to assess the situation after the police officers’ living quarters were destroyed by heavy rains in December 2021.

In 2022, Kawana assured the officers at Namasira that the government would construct decent and prefabricated barracks for them, a promise that has now been fulfilled.

Earlier this year, the minister handed over newly-constructed pre-fabricated accommodation facilities, costing taxpayers about N$4.1 million. These facilities include three blocks of barracks for officers (comprising 15 rooms), a kitchen, and ablution facilities.

The police office structure features a charge office with two offices, an armory room, and a leisure space with a veranda and a concrete table with seating.

The site was handed over to the contractor on May 26, 2023, and the construction was completed on July 14, 2023, with a total cost of N$1,080,900.92.

“I am delighted to be back here after our previous visit in January 2023 for the inauguration of the Namasira Police Barracks. This demonstrates the Government’s dedication to the wellbeing of our men and women in uniform,” said Kawana.

He further emphasized that the availability of this facility will bring policing services, such as crime prevention, investigation, and maintenance of law and order, closer to the people. Kawana expressed hope that the Kavango West Police would adopt a community-based and problem-oriented policing strategy to fulfill the fundamental mission of the Namibian Police Force.

The minister assured that the government will continue to provide the necessary infrastructure and staff. He called on all Namibians to actively participate in specific policing programs aimed at ensuring safety and security in their local communities, while also ensuring the preservation of these facilities for future generations. – Namibia Daily News

July 27, 2023 0 comment
0 Facebook Twitter Google + Pinterest
Nedbank Namibia Expands Services with New In-Store Agency in Mariental

By Staff Reporter

MARIENTAL, July 27 — On 21 July, Nedbank Namibia proudly inaugurated its new in-store agency located in Mariental at the Woermann & Brock Supermarket. The establishment of this agency marks an important step in providing enhanced financial services to the residents of Mariental. Four dedicated Nedbank staff members will be stationed at the agency, offering sales and inquiries services to cater to the needs of the local populace.

The auspicious occasion of the official opening was graced by esteemed dignitaries, including Mariental’s Mayor, Her Worship Cherien Kock, and prominent members of Nedbank Namibia’s leadership team, such as Nicholas Christians, the Area Manager of the Central, Coastal, and Southern regions, Erastus Haihambo, the Head of Personal Loans, Gernot de Klerk, the Head of Marketing and Communications, and several representatives from the Mariental business community.

The Nedbank team conducted the ceremonial inauguration and opened the doors of the agency to both existing and potential Nedbank clients, emphasizing their commitment to better serve the community.

During the event, the Nedbank team demonstrated their core value of giving back to the community by donating N$ 10,000 to Pastor Johan Eiman from the VGK Sop Kombuis Mariental charity. This generous donation is intended to support the charity’s commendable contributions to the well-being of the Mariental community.

Selma Kaulinge, the Communications and Public Relations Manager at Nedbank Namibia expressed the institution’s vision behind the establishment of the new in-store agency, saying, “We recognized an opportunity to extend our much-needed services to the town of Mariental, so we can better reach and serve our clients by providing them with the world-class service that Nedbank Namibia is known for. This in-store agency is more than just a financial outlet; it symbolizes Nedbank Namibia’s unwavering commitment to being there for our customers as they make informed and improved financial decisions.”

The newly inaugurated in-store agency will operate in sync with the working hours of the Mariental Woermann & Brock Supermarket. For those interested in availing themselves of the services provided, further information can be obtained by contacting 063-228 950 or 063-228 951.

Nedbank Namibia’s initiative in Mariental stands as a testament to its dedication to expanding its reach and impact within the community, reaffirming its role as a trusted financial partner in empowering individuals and businesses alike with its expertise and customer-centric approach. – Namibia Daily News

July 27, 2023 0 comment
0 Facebook Twitter Google + Pinterest