Thursday 23 November 2017
(New Era 05/07/13)
WINDHOEK - Nigerian President Dr Goodluck Jonathan is expected on an official State visit to Namibia on Thursday and Friday where he will meet his counterpart President Hifikepunye Pohamba and the business community. President Jonathan is scheduled to visit the Windhoeker MaschinenFabrik, Sat-Com and Meatco. He is also expected to visit the Heroes’ Acre and meet the Nigerian community living in Namibia. According to Nigerian media, Jonathan is planning to “seek economic cooperation” with both Namibia and South Africa, from where will be arriving when he visits Namibia. Nigeria’s Economic Management Team that will attend the World Economic Forum (WEF) in Cape Town tomorrow accompanies the Nigerian leader. He is expected to return to Nigeria on Friday. Jonathan, who was...
(Reuters (Eng) 04/30/13)
Economic development researchers on Monday unveiled a database of China's aid to Africa in an effort to work around Beijing's secrecy about the numbers, as a debate rages over the intentions and impact of Chinese assistance. The study and database by the Washington-based Center for Global Development and AidData, a research project, includes 1,673 Chinese development finance projects worth $75 billion in 50 African countries from the years 2000-2011. The Chinese figures, using standard measures of Official Development Assistance (ODA) and Other Official Finance (OOF), are roughly on par with U.S. aid to Africa during the same period, the Center for Global Development said. While official ODA from Western countries and some major developing countries is openly reported and easily...
(Reuters (Eng) 04/22/13)
African finance ministers told their rich nation counterparts at weekend meetings of the International Monetary Fund and World Bank to work harder and faster to kick-start their economies to avoid a prolonged slump that could undermine strong growth in the developing world. "We are concerned," Nigerian Finance Minister Ngozi Okonjo-Iweala said at the meetings of global finance leaders. "If we continue to see slow growth in the euro zone, which provides a large market for many African countries, and is coupled with a slowdown in emerging economies, then we will become more vulnerable," Okonjo-Iweala told a news conference of African finance ministers. "We need to insist that our partners in other parts of the world work harder and faster." Despite...
(Reuters (Eng) 04/15/13)
Sub-Saharan Africa's economic growth should accelerate to more than 5 percent over the next three years, far outpacing the global average, but the region must do more to convert this into reducing poverty, the World Bank said on Monday. In its latest Africa's Pulse analysis of prospects for the region, the bank saw increased investment, high commodity prices and a pick-up in the global economy driving this expected growth surge in the world's poorest continent. It said foreign direct investment (FDI) inflows to Sub-Saharan Africa were projected to increase to record levels each year over the next three years, reaching $54 billion by 2015. This compared to $37.7 billion in 2012, a 5.5 percent increase in a year when FDI...
(Reuters (Eng) 04/10/13)
Carlyle Group (CG.O) is looking at a number of banks in east and west Africa for a potential investment, its Africa co-head said on Wednesday, as the U.S. private equity firm focuses on the continent's growing consumer market. Carlyle, which last year invested in a pan-African grain trading firm, has recently signed a second deal, Marlon Chigwende also told the Reuters Africa Investment Summit. "Banking is very interesting today, and that is the general statement across a lot of sub-Saharan Africa," Chigwende told the Reuters Africa Investment Summit in Johannesburg. "Certainly, there are several opportunities of fast-growing banks, good management teams, interesting market positioning." Although private equity is still at a nascent stage in Africa, investor interest in the fast-growing...
(Namibian Sun 04/02/13)
Deputy Minister of Gender Equality and Child Welfare Angelika Muharukua last week heaped blame on whites, foreigners and opposition parties for allegedly mobilising communities in Kaokoland to oppose the construction of a hydroelectric dam in the Kunene Region. Muharukua was referring to the recent demonstration by the indigenous Ovahimba and Ovazemba people against the proposed Baynes Hydro Power Project at Okangwati, organised by Earth People activist Rebecca Sommer. The deputy minister tongue-lashed the three groups in the National Assembly where she urged the affected communities to allow the envisaged project to go ahead. She said the “Swapo-led” government has proven its care for Ovahimba and Ovazemba in the past and that this will continue. “We have one student who was...
(Reuters (Eng) 03/26/13)
"BRICS, Don't Carve Africa" reads a banner in a church hall in downtown Durban where civil society activists have gathered to cast a critical eye at a summit of five global emerging powers. The slogan evokes the 19th Century conference in Berlin where the predominant European colonial states carved up the African continent in a scramble historians see as epitomizing the brash exploitative capitalism of the time. Decades after Africans threw off the colonial yoke, it is the turn of the blossoming BRICS group of Brazil, Russia, China, India and South Africa to find their motives coming under scrutiny as they proclaim an altruistic-sounding "partnership for development, integration and industrialization" with Africa. Led by that giant of the emerging powers,...
(Reuters (Eng) 03/26/13)
President Barack Obama hosts the leaders of four African nations this week, all of which are cited in a new report for effectively increasing spending on agriculture to combat extreme poverty and hunger. The report by the ONE Campaign, an anti-poverty group co-founded by Irish rockers Bono and Bob Geldof, said Senegal, Malawi, Cape Verde and Sierra Leone either met or were close to meeting targets for increased budget spending on agriculture. All of the countries, except Cape Verde where there is little data, are also on track or close to meeting a U.N. target of halving extreme poverty by 2015, the report said. The African leaders will visit the White House on Thursday to showcase their fledgling democracies, but...
(The New York Times 03/26/13)
BEIJING — As President Xi Jinping of China continues his first overseas trip as his country’s leader, arriving in South Africa late on Monday after Russia and Tanzania, he meets with much goodwill – but also some concern among Africans that China may be a “new colonial power,” extracting resources and selling manufactured goods, as I reported on Sunday. China knows it. In a speech in Tanzania, Mr. Xi sought to calm the concerns, as my colleagues Chris Buckley and Jeffrey Gettleman reported. “China frankly faces up to the new circumstances and new problems in Sino-African relations,” Mr. Xi told an audience of Tanzanian politicians and officials in Dar es Salaam, the country’s economic hub and a center of government,...
(Reuters (Eng) 03/14/13)
Catholics in Africa and Asia on Thursday greeted the election of Pope Francis from Argentina as a historic breakthrough that would pump the developing world's vital energy into a struggling Church and amplify the voice of the planet's poor. While there was disappointment that Pope Benedict's successor did not come from the African or Asian continents, Cardinal Jorge Bergoglio's Third World origins spurred hopes of a kindred spirit among Catholics from Manila to Maputo. Argentina, in Latin America's southern cone, is as far from Africa and Asia as Europe, the prime source of previous pontiffs. But these rapidly developing southern continents of the globe, where poverty still looms large, are now home to the world's fastest growing Catholic communities. African...
(New Era 03/05/13)
WINDHOEK - Namibia has been ranked third on the African continent for its investment potential in the mining and exploration sectors. The ranking appears in the 2012/2013 Fraser Institute’s annual survey of mining companies, released last week. The institute is based in Vancouver, Canada. Botswana is the “bright spot”, ranked Africa’s number one on the list of 16 African countries surveyed. The five top countries in Africa are Botswana, which ranks 17 globally, Morocco at 25 on the global ranking list, Namibia at 30 on global ranking list, Mauritania at 36 and Guinea at 54. There are 96 global rankings with Indonesia ranked as the worst place to do business in mining. The results are from a survey of 742...
(New Era 03/05/13)
WINDHOEK - The matter in which four teachers from the private school Windhoek Gymnasium face charges of assault with intent to cause grievous bodily harm will continue on May 8 and 10 in the Windhoek Magistrate’s Court. The matter could not continue because of the transfer of Magistrate Helvi Shilemba to Otjiwarongo. Magistrate Tuvoye Nuule postponed the matter. The accused teachers are Stephanus van Zyl, Etiene Odendaal, George Frederick Maartens and Estelle Oberholzer. They allegedly beat a Grade 9 learner in 2010 with objects, varying from blunt pieces of wood to blunt wooden sticks. The incident resulted in the boy’s father removing his son from the school. Last year October, Senior Advocate Raymond Heathcote applied for the discharge of his...
(New Era 03/05/13)
WINDHOEK - In a bid to encourage savings the Bank of Namibia (BoN) has set new standards for cash deposit fees in the country. “The Bank of Namibia believes that cash deposit fees discourage individuals to save and will continue to work with the banking sector to ensure that such fees are not charged in future,” explained Ndangi Katoma, the central bank’s director for strategic communications and financial sector development. The bank yesterday announced that the banking industry has agreed to the new standards that apply to all savings and investment accounts owned by individuals at banking institutions, as well as to businesses that generate revenue of N$1 million or less per annum. “The objective is to ensure that fees...
(The Namibian 03/04/13)
THE suspended chief executive officer of the Namibia Airports Company, Ben Biwa, has asked the Labour Court in Windhoek to put a stop to an imminent disciplinary hearing in which he is set to face charges. An urgent application in which Biwa is asking for an interdict to stop the disciplinary hearing, which was scheduled for Thursday last week, was filed with the Labour Court early on Thursday. Biwa wants the court to stop the disciplinary hearing until a dispute which he has registered with the Office of the Labour Commissioner has been dealt with. He lodged a dispute with the labour commissioner on Wednesday. Biwa was suspended from his post as CEO of the Namibia Airports Company (NAC) on...
(The Namibian 03/04/13)
PROGRESS REPORT ... Bank of Namibia (BoN) Governor Ipumbu Shiimi (left) on Friday briefed Prime Minister Hage Geingob on the progress with financial inclusion in the country. Doing away with certain cash deposit fees is the BoN’s latest move in its drive to make banking services more affordable in Namibia. It started in 2009 when previous governor Tom Alweendo, now Director General of the National Planning Commission (NPC), gave commercial banks until October 2010 to reduce their interest rate spread – the difference between the BoN’s repo rate and the prime interest rate charged by banks. Last year, all commercial banks had to offer a basic bank account (BBA) to people earning N$2 000 or less a month by the...
(Allafrica 03/04/13)
RÖSSING will lay off 276 workers by next month, the uranium mine's managing director, Chris Salisbury, announced on Friday. He blamed the cutbacks on a persistent slump in the global uranium price and demand, and an operational loss of N$474 million last year. Since the 2011 Japanese tsunami destroyed the Fukushima nuclear reactor, 48 of Japan's 50 reactors have been mothballed. This is a major contributor to the lower uranium demand and has resulted in the uranium price dropping by more than 36%. The layoffs will only affect employees of Rio Tinto Rössing Uranium. It is unclear how the cutbacks will affect the roughly 700 contract workers employed by various companies at the mine. Salisbury said the 276 redundant jobs...
(Allafrica 03/04/13)
NAMIBIA wants a hand in the construction of Angolan oil refineries, while also considering buying crude oil from its northern oil-rich neighbour. These were some of the issues addressed at a recent meeting between the two countries' energy authorities in the Angolan capital, Luanda. The two delegations were led by Namibia's Mines and Energy Minister Isak Katali, and the Angolan minister of petroleum, Jose de Vasconcelos. The four-day meeting focused on oil refining, cooperation on crude oil supply, the construction of a storage terminal and negotiations on a memorandum of understanding. Both parties recognised the experience and expertise of Angola in the field of oil refining, hence the need to strengthen cooperation in this field. The Namibian delegation expressed interest...

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