Page 402 – Namibia Daily News

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Bank Windhoek and NIPDB Host Successful MSME Finance Symposium

written by Derdy

By Staff Reporter

WINDHOEK, April 26 — Bank Windhoek and the Namibia Investment Promotion and Development Board (NIPDB) collaborated to host the first-ever Micro-Small and Medium-sized Enterprises (MSME) Finance Symposium on April 21, 2023, in Windhoek. The symposium, themed ‘Accessing Finance with Bank Windhoek,’ welcomed over 570 registered entrepreneurs, with 40 in attendance and the rest viewing the event online.

During the symposium, Bank Windhoek’s Head of SME, Financial and Data Analytics, Bianca Janse Van Vuuren, discussed loan applications and credit analysis criteria, encouraging entrepreneurs to have meaningful discussions with the bank regarding financing. Joachim Komeheke, the Bank’s Sustainable Finance and Environmental, Social and Governance (ESG), Analyst, presented Bank Windhoek’s sustainability offering, which provides green financial solutions for all customers.

Additionally, the Bank’s Business Banking i-lounge team provided one-on-one engagement with entrepreneurs, and the feedback received highlighted the importance of serving the SME sector adequately. Bank Windhoek and NIPDB plan to continue engaging small and medium-sized enterprises on such knowledge-sharing platforms to contribute to Namibia’s economic growth. – Namibia Daily News

April 26, 2023 0 comment

Sports

UAE women’s cricket team registers 50-run victory over Uganda

written by Derdy

By Benjamin Wickham

WINDHOEK, April 26 — Uganda’s senior women’s cricket team recently won the Victoria Twenty20 Series on home soil, but the victory masked a flaw in their batting. They won three and drew one of the four round-robin matches at Lugogo Oval without scoring triple-digit figures, whether batting first or chasing targets.

This weakness was exposed when they suffered a 50-run defeat in the opening game of the Quadrangular Capricorn Twenty20 Series in Namibia on Tuesday, inflicted by the United Arab Emirates (UAE).

In the match, Uganda chased a target of 121 runs but failed to reach it, with no batter reaching double digits. The UAE team, on the other hand, finished strong on 120-6 thanks to a recovery third-wicket stand of 64 runs between Kavisha Kumari (30 off 37) and Theertha Satish (39 off 35).

Despite some work in the middle overs from Uganda’s bowlers Irene Alumo (2/28), Evelyn Anyipo (1/17), Janet Mbabazi (1/20) and captain Consy Aweko (1/22), the team could not defend the target.

Captain Aweko acknowledged her team’s poor batting performance and expressed her confidence that they could improve in this area. Uganda’s coaches and team analysts will review video material during a day off to identify areas for improvement.

The Quadrangular Capricorn T20 Series will continue with matches between UAE and Hong Kong on Wednesday, Hong Kong and Uganda on Thursday, and Namibia and UAE on Thursday. On Saturday, Uganda will face UAE, followed by a match against Namibia. – Namibia Daily News

April 26, 2023 0 comment

Sports

Financial Woes Force Namibia to Back Out of 2027 Africa Cup of Nations Hosting

written by Derdy

NDN Staffer

WINDHOEK, April 26 — Namibia and Botswana have been forced to abandon their joint hosting of the 2027 African Cup of Nations due to financial constraints. The decision has come as a huge disappointment to football fans in Southern Africa and highlights the dire public finances of both nations. The Namibian Sports Minister, Agnes Tjongarero, confirmed that the government was unable to meet its obligations in the Memorandum of Agreement signed between the two countries. She cited several reasons for the withdrawal, including the high cost of the lead consultant and the unavailability of the required $264m to upgrade match facilities by 2026.

This announcement marks a significant blow to the region’s footballing fraternity, which had hoped that the Cup of Nations would help to elevate the profile of the sport in Southern Africa. It is a further reminder of the difficulties faced by African countries in hosting major international events. South Africa, for example, had to scramble to host the 2013 Africa Cup of Nations after Libya withdrew from hosting the tournament due to political instability.

The withdrawal from hosting the Cup of Nations has also exposed the vulnerability of Namibia and Botswana’s public finances. Namibia’s economy, in particular, has been severely impacted by the COVID-19 pandemic and was already facing significant challenges before the pandemic. The country has been struggling with high unemployment, low investment, and slow growth. The government is grappling with a fiscal deficit of 11% of GDP, which has forced it to borrow heavily to finance its budget.

The situation in Botswana is not much different. The country has been facing significant economic headwinds, including the impact of the COVID-19 pandemic and a decline in diamond revenue. The government has been forced to cut back on spending and implement austerity measures to reduce the budget deficit.

The withdrawal of Namibia and Botswana from hosting the Cup of Nations is, therefore, a reflection of the precarious state of public finances in the two countries. It is also a reminder of the challenges that African nations face in hosting major international events. The decision will undoubtedly disappoint football fans in the region, but it highlights the urgent need for African governments to prioritize economic development and sound fiscal management. – Namibia Daily News

April 26, 2023 0 comment

Mining

Australian lithium explorer Prospect Resources eyes new discovery in Namibia

written by Derdy

By Benjamin Wickham

OMARURU, April 26 — Prospect Resources, an Australian lithium explorer, has reported high-grade lithium mineralization in its Omaruru project in Namibia, according to recent adit sampling results. The best results in sampling at the Karlsbrunn prospect showed a high-grade lithium concentration of 14 meters at 1.21% Li2O, 10 meters at 1.35% Li2O, and 8 meters at 1.11% Li2O. The company is now preparing for additional RC drilling to test targets in the June quarter. In addition, regional soil sampling at Omaruru has identified significant geochemical anomalies with pathfinder signatures that are characteristic of lithium-caesium-tantalum pegmatites.

The high-grade lithium results returned from the adit sampling program at the Karlsbrunn prospect are extremely promising, said Sam Hosack, MD of Prospect. Hosack also stated that the systematic and extensive soil sampling program at Omaruru provided the sort of results that the company was targeting from this exercise. The significant surface footprint and strong concentration of some of these geochemical anomalies are very encouraging for the prospects of further discoveries in the short term at Omaruru, he added.

Prospect’s Omaruru project is located 20 km from the regional centre of Karibib in central Namibia, and it contains 60 visible LCT pegmatite outcrops. After the additional 20% is acquired in the Phase-1 earn-in, Prospect will need to spend just US$560,000 over 12 months to take another 11% in Namibian-domiciled Richwing, the holding company for the Omaruru JV.

Located near JV partner TSX-listed Osino Resources’ Twin Hills gold project and Lepidico’s Karibib lithium project, Omaruru is in an attractive mining jurisdiction. Further priority drilling targets are located at Karlsbrunn North-East, Hillside South-West, Petalite South-West, Bergers South-West, Brockmans South-West, and Bergers North-East, where shallow scout RC drilling is expected to begin this quarter. – Namibia Daily News

April 26, 2023 0 comment

Opportunity

NNIP receives N$300,000 from Old Mutual Namibia to accelerate job creation

written by Derdy

Staff Writer

WINDHOEK, April 25 — Old Mutual Namibia has pledged N$300,000 to the Namibia National Internship Programme (NNIP) to join Standard Bank and MTC Namibia in supporting the initiative. Launched in 2019, NNIP aims to assist students who need internships to graduate and has so far helped 760 beneficiaries. The programme also seeks to assist institutions of higher learning in finding internship placements for students and accelerating job creation among the youth.

MTC commits N$2 million annually to the programme, and earlier this year, Standard Bank pledged N$200,000. The NNIP aims to raise at least N$14 million yearly through collaboration to significantly increase its intake capacity from 160 to 1,600 students annually. The country has over 48,000 students nationally who need to complete Work Integrated Learning (WIL) to graduate, making it important for corporates to pledge a minimum of N$200,000 to the cause.

MTC’s Chief Human Capital, Corporate Affairs, and Marketing Officer, Tim Ekandjo, praised Old Mutual Namibia for its contribution and emphasized the importance of partnership in achieving solutions to national social challenges. He appreciated Old Mutual Namibia for joining hands in upscaling the programme into a national vehicle that drives and offers students WIL opportunities.

Mignon du Preez, Old Mutual Namibia Group Marketing, Public Affairs, and Sustainability Executive, expressed pride in the company’s support for NNIP, emphasizing that investing in the professional development of young talent would help secure a brighter future and contribute to building a stronger Namibia. She further noted that the company’s sponsorship demonstrated its commitment to empowering the youth and fostering a culture of excellence, aligning with its values.

– Namibia Daily News

April 25, 2023 0 comment

Opportunity

Capricorn Foundation Supports Youth Empowerment in Namibia through #BeFree Centre

written by Derdy

By Staff Reporter

WINDHOEK, April 25 — The Capricorn Foundation recently visited the #BeFree Centre of Excellence site in the heart of Katutura to assess the construction progress. The #BeFree Centre is an initiative of the One Economy Foundation supported by the Capricorn Foundation. Opening in September 2023, the centre will act as a catalyst in the local community by linking six schools and 12 youth-focused organizations.

The centre will offer a variety of services, including an adolescent health centre, a S.T.E.M Centre offering after-school mentoring and skill innovation such as robotics, and a future phase two skills centre where a broad range of capacity building, entrepreneurship workshops and training programs will be offered.

Through its support of the #BeFree Centre, the Capricorn Foundation is acting on its vision of being an inspiring connector of positive change to improve economic and social conditions in the communities where it operates. In October 2022, at the One Economy Gala Fundraising Dinner, the Capricorn Foundation pledged N$500,000 towards the #BeFree Centre, with a commitment to pursue a long-term partnership with the One Economy Foundation, including expanding programs offered at the envisioned centre.

“The Capricorn Foundation is committed to partnering with like-minded organizations like the One Economy Foundation to address issues faced within our communities and to find sustainable solutions. We share the same vision as the One Economy Foundation to support vulnerable youth and view our support to the #BeFree Centre as an investment in our youth, who will be the leaders of tomorrow. I commend the First Lady of Namibia, Madame Monica Geingos, for acting on her vision to provide this safe haven for the youth and to equip them with the necessary skills and training to help them reach their full potential,” said Marlize Horn, Executive Officer of the Capricorn Foundation during the site visit.

The #BeFree Centre will close the gap in service delivery to young people and create a safe space where youth can engage and grow through targeted, gender-sensitive and age-appropriate youth empowerment programs, including psychological and counselling support. Investment in youth is a critical and continuous process that demands patience, perseverance, and the breaking of silos.

This unprecedented collaboration between the public and private sectors is a significant stride towards empowering the youth in Namibia. It offers a crucial platform for them to express their voices and ideas while receiving comprehensive multidimensional services that span healthcare, S.T.E.M, and capacity building, tailored to their holistic development. By supporting the youth in an integrated manner, this centre aims to build a brighter future for all Namibians, founded on the belief that every individual has the potential to achieve greatness.

Crucial to the project’s success is the partnership with the Ministry of Sport, Youth, and National Services, which offers the project amazing infrastructure as well as support staff, enabling the sustainable rollout of innovative, inspiring, educational programs to the youth in a safe and non-judgmental environment. – Namibia Daily News

April 25, 2023 0 comment

Youth

Nedbank Namibia participates in Namibia Careers Expo to support youth employment

written by Derdy

By Staff Reporter

WINDHOEK, April 25 — On April 20-21, Nedbank Namibia took part in the Namibia Careers Expo held at the Windhoek Country Club and Resort. The event provided high school students with the chance to learn about different career options and industries. The team from Nedbank Namibia focused on promoting financial literacy among youth and helping students make informed decisions about their career options. Students were invited to take a personality test to identify career paths that best suited their personality. The team also provided information on various career opportunities in the banking industry and advised students on the necessary qualifications to work in the bank.

At the expo, participants were given the opportunity to present their company’s offerings to the students. Jason Kaisho, a Divisional Risk Analyst at Nedbank, presented to students on the different types of risk management areas in the bank and advised on the fields learners can specialize in to work in the risk-related field within the banking industry.

Jeomba Kaakunga, a Grade 12 student at Academia Secondary School who visited the Nedbank Namibia stand at the expo, appreciated the event, as he learned about various tertiary education institutions as well as career paths to choose from. After taking the Nedbank personality test, he discovered that a career in law would suit him best.

Bianca Muller, the Head of Human Capital at Nedbank Namibia, stressed the significance of such events and why Nedbank Namibia supports them. These events serve as a platform for career advice, exposure to students, and engagement between students and potential employers. Nedbank Namibia assists students with funding to study critical banking fields through its bursary schemes, such as Data Analytics, Information Technology, Financial Risk Management, and others.

The Namibia Careers Expo is a fantastic platform for students to explore various career paths and for Nedbank Namibia, a leading commercial bank, to interact with the next generation of talent. – Namibia Daily News

April 25, 2023 0 comment

Opinion

RFA recommends finding alternative solutions to tollgates and fuel levy hike

written by Derdy

By Josef Kefas Sheehama

Namibia is facing a tough situation as the Road Fund Administration (RFA) is proposing an increase in the fuel levy charged on every litre of fuel sold in the country. The goal is to meet a N$4.3 billion funding gap for road rehabilitation, upgrades, and maintenance. However, this move is expected to greatly inconvenience not only the motoring public but also the already hard-hit Namibians, especially the poor who will be affected the most.

Increasing the fuel levy has a negative impact on socio-economic deprived society as it is a regressive tax where everyone pays the same. Lower-income car users will be hit hardest by the fuel levy increase as they do not have as much disposable income as higher-income car users. Furthermore, fuel levy increases will not only affect the prices of fuels consumed by households but also the prices of other goods consumed because of the impact on the fuel inputs of these goods.

In light of the current threat to the nation’s economy, the ruling, if left unchallenged, will not only destabilize the country but also further stifle economic recovery. Inequality is not only a threat to economic and social rights it impends the advancement of all rights. This is a serious issue that needs to be addressed.

Moreover, the RFA’s anticipated increase in revenues from tollgates does not make business sense and is not economically viable. The introduction of tollgates is expected to add to the burden of the already hard-hit Namibians. Most motorists are low-income earners driving Dankie-Botswana vehicles, and this will be a tough ride for them as they will be forced to part with their few hard-earned dollars.

The RFA Annual Financial Statements for the year ended 31 March 2022 show that the RFA is generating enough revenue from us. The surplus for the year increased to N$ 172 943 404 from N$ 88,188,302. The RFA is solvent and highly liquid. The RFA Directors are remunerated an amount of N$ 723 754.22 for the year under review. This represents roughly 0.03% of revenue. However, the increase in employee costs from N$ 92 502 060 to N$ 96 019 204 in 2022, and the increase in entertainment from N$ 609 027 to N$ 782 293 (+N$ 173 266) for the year under review, are concerns that need to be addressed.

It is indeed difficult to fathom how Namibia, with a shrivelling economy that saw many people retrenched, is a country where the few who are employed earn salaries below the poverty datum line and where the majority survive in informal sectors. It is easy for the rich to pay these fees. The same applies to government officials who use government cars and so on paid for by the taxpayers. What about the poor? What about the citizens already scraping by and barely making ends meet? Pay more for diesel, pay more for food, and pay more for this and that.

The RFA needs to think deeply before making decisions. It will be in the interest of the RFA to look for other alternative methods to strengthen the economic policies of the government and return Namibia to the good old days instead of calling for high fuel levies and introducing tollgates. There is no denying the fact that it is a means of generating funds that can be used to benefit the country, but it should not be at the expense of the poor. – Namibia Daily News

April 25, 2023 0 comment

Entertainment

New film sheds light on Germany’s forgotten genocide in Namibia

written by Derdy

NDN Staffer

BERLIN, April 25 — Germany’s atrocities during World War II and the Holocaust are widely known, but the country’s colonial-era genocide in Namibia has often been overlooked. The new film, “Measures of Men” by Lars Kraume, sheds light on Germany’s neglected crimes by telling the story of a German ethnologist who travels to German South West Africa in the early 1900s to study the country’s indigenous peoples and harvest their skulls. The film’s release in German cinemas on March 23 has generated widespread discussion, including special screenings in schools and the Bundestag lower house of parliament.

Germany’s colonial empire, though smaller than those of France and Britain, included parts of several African countries, including present-day Burundi, Rwanda, Tanzania, Namibia, and Cameroon. In Namibia, Germany committed mass killings of indigenous Herero and Nama people, a genocide that many historians refer to as the first of the 20th century. Over the past two decades, Germany has gradually begun to acknowledge and discuss the massacre, including returning skulls and other human remains from Namibia that had been taken to Berlin for “scientific” experiments. In May 2021, the country officially acknowledged its responsibility for the genocide and pledged a billion euros in financial support to the descendants of the victims.

“Measures of Men” is an important contribution to raising awareness among Germans about their country’s past atrocities. While the film is told mainly from the German perspective, the Herero translator, Kezia Kambazembi, also plays a significant role. Israel Kaunatjike, a Herero rights activist based in Berlin, was moved by the film and hopes that a perspective from the Herero and Nama on the same events would be shown in the future. However, as Kaunatjike notes, funding for such a project is currently lacking.

Both Kraume and Kaunatjike believe that Germany still has a long way to go in acknowledging and reckoning with its colonial past. Kraume calls for an official request for forgiveness from the German president in Namibia and the return of all Herero and Nama skulls and bones still in German collections for burial. Kaunatjike notes that while development aid is a positive step, it is not a substitute for reparations. “Measures of Men” is a crucial step in acknowledging Germany’s colonial-era genocide and bringing it to the forefront of discussions. – Namibia Daily News

April 25, 2023 0 comment

Sports

The Bank Windhoek Fistball League Shows Exciting Results

written by Derdy

By Staff Reporter

SWAKOPMUND, April 25 — Cohen Fistball Club (CFC 1) and Sport Klub Windhoek (SKW 4) have widened the gap in the National A and B categories on the Bank Windhoek Fistball League’s second match day, which took place in Swakopmund over the weekend. SKW A also defended its lead in the Under 18 category.

In the National A League, CFC 1 beat all opponents 3-0 and returned to Windhoek with nine points, extending their lead in the table to five points. SKW 1, SFC 1, and CFC 2 competed well against CFC 1 but ultimately lost, with SKW 1 winning against both SFC 1 and CFC 2. SFC 1 and CFC 2 share third place with four points each.

In the National B League, SFC 2 was the surprise of the day, winning all six encounters and climbing to the second spot in the table. SKW 4 defended their lead in the table but suffered two defeats. CFC 3 slipped from second place to sixth place as they did not compete on this match day.

In the Under 18 category, SKW A won against SFC A but surprisingly lost to their reserve team, SKW B. SFC A won the match against SKW B, and Hanjo Lorck from SFC A was named youth player of the day.

The indoor tournament is next on the fistball calendar, taking place on Saturday, May 13, 2023, in Swakopmund. Meanwhile, the men’s national team is preparing for the Fistball World Championships in Mannheim, Germany, in July 2023.

– Namibia Daily News

April 25, 2023 0 comment

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Advertise Here

Bank Windhoek and NIPDB Host Successful MSME Finance Symposium

UAE women’s cricket team registers 50-run victory over Uganda

Financial Woes Force Namibia to Back Out of 2027 Africa Cup of Nations Hosting

Australian lithium explorer Prospect Resources eyes new discovery in Namibia

NNIP receives N$300,000 from Old Mutual Namibia to accelerate job creation

Capricorn Foundation Supports Youth Empowerment in Namibia through #BeFree Centre

Nedbank Namibia participates in Namibia Careers Expo to support youth employment

RFA recommends finding alternative solutions to tollgates and fuel levy hike

New film sheds light on Germany’s forgotten genocide in Namibia

The Bank Windhoek Fistball League Shows Exciting Results