Thursday 17 August 2017
(Bloomberg 08/16/17)
Namibia’s central bank reduced its key rate for the first time since 2012 as consumer prices rose at the slowest pace in almost two years last month and the economy contracts. The Monetary Policy Committee reduced the repo rate by 25 basis points to 6.75 percent, Bank of Namibia Deputy Governor Ebson Uanguta told reporters Wednesday in capital, Windhoek. Inflation in the southwest African nation, the world’s biggest producer of marine diamonds, was 5.4 percent in July, the weakest since January last year after food-price growth eased as the country recovers from a regional drought.
(Xinhuanet 08/16/17)
As Namibia seeks to improve citizens' livelihoods through education, a China-funded school in the national capital Windhoek is contributing to the realization of the goal. Chairman Mao Zedong High School, named after the Chinese communist revolutionary leader, has become a beam of hope for students, who had to receive lessons in makeshift temporary structures. According to George Louw, the principal, the school in Otjomuise 7de Laan informal settlement in Windhoek is bridging gaps of education provision in the community. "The school has given hope not only to educators and the community, but also to our learners who now have the privilege of accessing inclusive education in a conducive learning environment. The learners were previously taught in tents before moving to...
(Reuters (Eng) 08/16/17)
Namibia's central bank cut its benchmark lending rate by 25 basis points to 6.75 percent on Wednesday, citing the need to support economic growth and maintain the one-to-one link between the Namibian dollar and the South Africa rand. Namibia's economy slipped into recession in the first quarter of 2017, shrinking by 2.7 percent in the quarter following a 1.4 percent contraction in the last quarter of 2016.
(Xinhuanet 08/14/17)
Namibia's President Hage Geingob has said Moody's should not have based its latest rating on the forthcoming ruling Swapo Party elective congress and the national elections scheduled for 2019. Geingob said this when he addressed a closed door Swapo central committee meeting Saturday in Windhoek. Swapo will hold its elective congress in December and already some members are jostling for positions. Moody's downgraded Namibia's credit rating from Baa3- to Ba1 but maintained the negative outlook on Friday. The rating agency...
(Bloomberg 08/14/17)
The U.S. will probably maintain its current levels of aid to Africa despite President Donald Trump’s proposals to slash funding, according to Bill Gates, the world’s richest man. Trump said in May his government would no longer allocate funding for family planning, a move that has the potential to undermine aid programs in the poorest countries in the world. However, with Congress in control of the budget, it’s unlikely that all cuts proposed by the Trump administration will go ahead...
(AFP (eng) 08/10/17)
The skull of an infant ape buried by a volcano 13 million years ago has preserved intriguing clues about the ancestor humans shared with apes -- including a likely African origin, scientists said Wednesday. A previously-unknown creature that shared an extended family with the human forefather, had a flat face like that of our far-flung cousin the gibbon, but did not move like one, its discoverers wrote in the journal Nature. They named it Nyanzapithecus alesi after "ales" -- the...
(Voice of America 08/09/17)
Namibia coach Ricardo Mannetti said here Wednesday that the team is upbeat and ready to go and do the nation proud in their 2018 CAF African Nations Championships qualifiers third round first leg match against the Comoros slated for Aug. 13. Mannetti told a press briefing that his team's advantage is their ball playing ability and he hopes it will work for them when they lock horns against the Islanders. "Comoros are not a ball playing team. They love to...
(Xinhuanet 08/09/17)
The United States Trade Representative (USTR) on Wednesday affirmed the commitment of his country to Africa and saw "great potential to grow and deepen trade relationship." Robert E. Lighthizer expressed this in opening speech of the ministerial plenary as part of the 16th Forum of the Africa Growth and Opportunity Act (AGOA), on Wednesday here in Togolese capital Lome. "The United States is committed to Africa. We see great potential to grow and deepen our trade relationship, with the goal...
(Reuters (Eng) 08/08/17)
Tuesday's action at the World Athletics Championships sees two of the most intriguing races of the program as South Africa's Wayde van Niekerk bids for the first half of his 400/200 meters double and Nigel Amos goes for gold in the men's 800m. World record holder and defending champion Van Niekerk should be unbeatable in the 400m but faces a stiff challenge, not least from Botswanan duo Isaac Makwala and Thebe Baboloki. Another Botswanan, Amos, will also have to be...
(Xinhuanet 08/03/17)
Standard Bank Namibia, one of the southern African country's oldest banking institutions, says its relationship with Chinese companies and business people has grown from strength to strength. The relationship started in earnest in Feb. 2015 when the Industrial and Commercial Bank of China Limited (ICBC) acquired shares in Standard Bank's London-based Global Markets business. The acquisition allowed both ICBC and Standard Bank to create a platform to serve the growing demands of Chinese clients for global commodities, fixed income, currency and equities products while continuing as a distribution platform for African risk. This union also allows for the Chinese community to transact in renminbi
(Xinhuanet 08/03/17)
Namibia's Statistics Agency (NSA) and the central bank, in collaboration with FinMark Trust of South Africa, will conduct the 4th Namibia Financial Inclusion Survey (NFIS), to collect information on financial needs, access to financial service preferences and financial behaviors of the Namibians. The agency's Statistician General, Alex Shimuafeni on Thursday said the survey will be conducted to show how equal and accessible financial services and products are to all members of society including the vulnerable members such as women, youth...
(Xinhuanet 08/03/17)
Trade between China and Africa reached 85.3 billion U.S. dollars in H1, surging 19 percent year on year as the two sides strengthened cooperation in a wide range of areas, official data showed Thursday. The data reversed the negative growth trend since 2015, according to Gao Feng, spokesperson with the Ministry of Commerce. During January-June, Chinese imports from Africa, including minerals, agricultural products and fruits, amounted to 38.4 billion U.S. dollars, jumping 46 percent from the same period last year,...
(Bloomberg 08/02/17)
Julien Ochala can’t live without his morning cup of Joe. But not just any coffee will do. For the past five years, the 37-year-old physiology lecturer at King’s College London has visited the same store every week to grab a pack of his beloved Kenyan brew. And he’s not put off by the cost: at 37 pounds a kilogram ($22 a pound), it’s more than double a similar supermarket product. "I take Kenyan coffee every morning," said Ochala, who buys...
(The Namibian 08/01/17)
President Hage Geingob yesterday said the state of the economy is actually better than what is currently being portrayed in the public domain. Speaking at a press conference at State House yesterday, Geingob said the underpinning fundamentals of the economy are stronger today than they were a year ago. In December 2016, Namibia slipped into a 'technical' recession, as growth figures showed that the economy contracted by 1% between October and December. A recession is a period of temporary economic...
(New Era 08/01/17)
Windhoek-Constructors can breathe a sigh of relief as all unpaid government invoices, amounting to more than N$3 billion will be settled by the end of August. President Hage Geingob made the announcement at a media briefing at State House yesterday, where he said government deeply regrets the accumulation of unsettled invoices that came about because of weak revenue collection during the economic slowdown. “We have realised that one key factor fueling discontent and opinion is the occurrence of unsettled invoices...
(The Namibian 08/01/17)
Government will welcome discussions on ancestral land at the second land conference scheduled for September this year, international relations minister Netumbo Nandi-Ndaitwah announced yesterday. The deputy premier said this during the diplomatic corps' bi-annual briefing, which was aimed at informing foreign diplomats in Namibia about the country's position on different global issues. At the event, diplomats discussed the country's developmental agenda, which is aligned to the African Union's Agenda 2063, and the United Nations' Agenda 2030. Nandi-Ndaitwah said Namibia could make use of the diplomatic representation in the country in order to benefit from different thematic clusters “that were recently agreed upon at the United Nations”.
(New Era 08/01/17)
Oshikango-Angolan business people have taken advantage of high poultry prices in Namibia by smuggling boxes of frozen chicken via Oshikango border post that they sell here cheaply. Some of the chickens are sold to Namibians at Okatwitwi informal market in Namibia, where business is booming. In addition to the chicken sales, there is also an ongoing sale of contraband products, including cheap alcohol and spirits. A box of 20 kg of chicken from Angola sells for N$250 compared to a...
(Bloomberg 08/01/17)
British American Tobacco Plc faces a formal probe by the U.K.’s Serious Fraud Office following reports that the maker of Dunhill cigarettes bribed African government officials to influence tobacco legislation. BAT said Tuesday it is running its own investigations, via external legal advisers, into allegations of misconduct and is cooperating with the U.K. prosecutor. A BBC report two years ago said BAT had a lobbyist arrange bribes totaling $26,000 for three public officials in Rwanda, Burundi and the Comoros Islands...
(AFP (eng) 07/31/17)
Scores of people waving rainbow flags peacefully paraded through the streets of Namibia's capital Windhoek on Saturday, calling for better legal protection of gays, lesbians, bisexuals and transgender people in the largely conservative country. Around 150 people, decked out in the gay pride colours, danced and marched their way down Windhoek's main thoroughfare, Independence Avenue, chanting "we are one" in what was the first gay pride march in the Namibian capital. They were cheered on by most onlookers who applauded as the marchers made their way through the city centre. However some passersby yelled derogatory comments at the gay pride marchers.
(Xinhuanet 07/31/17)
Namibian President Hage Geingob on Sunday urged all Namibians to respect traditional authorities. Geingob made the remarks when he addressed a cultural festival in the Zambezi region, northeast of the country. The festival, organized by the Masubia Traditional Authority, is an annual event. This year's event was attended by several ministers and other chiefs from different traditional authorities. In his address, Geingob said Namibians should treat all traditional authorities with respect. He also said traditional authorities should also practice fair...

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