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Calle to address credit rating concerns

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Calle to address credit rating concernsCalle to address credit rating concerns The Minister of Finance, Calle Schlettwein, will address the media tomorrow with regards to Namibia’s latest economic outlook that was downgraded by international ratings agency Fitch from stable to negative.
According to the statement released by Fitch, Namibia’s budget deficit widened sharply to 8.3% of Gross Domestic Product, well above the government’s 5% target and is the worst on record.
The overshoot in the deficit is due to weaker than expected revenue from domestic sources, including company tax and lower-than-expected income tax.
Fitch says that the government is targeting narrowing of the deficit to 4.3% of GDP in the current financial year.
Outturns for the first few months of the current financial indicate revenue has grown strongly.
However, it says much of the deficit has been financed by external borrowing from parent mining companies, reducing external vulnerabilities. The statement notes that merchandise exports should start to grow in the coming years as big mining projects come online. Moreover, imports should fall as capital goods demand decreases. Fitch expects the current account deficit to narrow to 6.9% of GDP by 2018.
According to the statement, while the Ministry of Finance is exerting greater control over expenditure at all ministries and is cutting overtime, travel and capital spending and meeting deficit targets, it will prove challenging, particularly amid a secular decline in revenues from the Southern African Customs Union (SACU), which the government projects will fall under 7% of GDP by 2018 from 12.4% in 2014. It was also noted that growth performance remains a key rating strength and that Namibia’s economy grew 5.7% in 2015.
Fitch expects it to expand 4.4% this year.
Also, new mining capacity is rapidly coming online, notably the Husab Uranium Mine, which is expected to begin production by end of this year and is expected to add around 5% to GDP.
According to Fitch the continued strong growth performance is particularly impressive given the continued drought, weak performance in key trading partners (notably South Africa and Angola) and higher interest rates, says Fitch.
The statement says the New Equitable Economic Empowerment Framework (NEEEF), seeks to increase the involvement of previously disadvantaged citizens in the private sector.
“While lacking in details, it is likely that the law will be approved by parliament, although the Supreme Court might end up blocking it.”
It says this has, however, caused some unease in the business community and could slow down foreign investment in manufacturing and services.
Also the rapid growth in house prices in recent years has created certain risks for the banking sector.
“However, given the introduction of macro prudential measures and falling demand from Angola, it is likely that the housing market will cool from here, with a slowdown at the top end of the market already visible.”

STAFF REPORTER

Vice-president collapses

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Vice-president collapsesVice-president collapses

Vice-president Nickey Iyambo fainted after addressing the community of Tsumeb at a belated Heroes Day’ commemoration event on Saturday.
Iyambo collapsed while seated shortly after the singing of the national anthem at the end of the gathering. Oshikoto governor Henock Kankoshi, who also attended the commemoration, told Nampa afterwards that Iyambo was rushed to his hotel room where medical personnel from the Tsumeb hospital helped to stabilise him.
“He is fine. He fainted because he had not eaten the whole morning,” Kankoshi said.
Iyambo was in Tsumeb to stand in for President Hage Geingob, who was scheduled to be the main speaker.
Councillor of the Tsumeb Constituency, Lebeus Tangeni Tobias told those present Geingob had other national engagements to attend to.
“Our president delegated our vice-president to address us on his behalf,” Tobias said.
Heroes’ Day commemorates the battle of Omugulugwombashe on 26 August 1966, when South African soldiers attacked People’s Liberation Army of Namibia (PLAN) fighters, marking the start of Namibia’s liberation struggle.
President Geingob addressed the main Heroes Day Commemoration at Walvis Bay in the Erongo Region last Friday.

NAMPA

Shihepo gets lucrative Manchester fight

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Shihepo gets lucrative Manchester fightShihepo gets lucrative Manchester fight

Namibia’s Wilberforce ‘Black Mamba’ Shihepo is set to travel to the UK to fight Callum ‘The One’ Johnson for the vacant Commonwealth title.
The fight is scheduled for 24 September and is promoted by one of the biggest boxing promoters in the world, Matchroom Promotions. The fight will take place at the famous Manchester Arena.
Shihepo has a record of ?34 fights, 28 wins, 8 losses and no draws.
He comes into this fight with two consecutive wins after beating Zimbabwe’s Tineyi Maridzo Maike Gogoda from Malawi.
That run will give Shihepo the confidence that he can add the lucrative Commonwealth title to his name.
Johnson has a record of 15 fights with 15 straight wins.
He comes into the fight with a 100% win record and will be looking to protect his excellent record.
“Shihepo is an experienced fighter, but he will take no chances against Callum.
“We will go there to register a win. Fighting outside the country is never easy but Shihepo has done it many times and we go and do Namibia proud,” said Nestor Tobias, who is Shihepo’s trainer/manager.
Shihepo is a product of the MTC Nestor Sunshine Boxing & Fitness Academy, which is owned by Tobias.

SPORT REPORTER

Xamseb comes in for praise

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Xamseb comes in for praiseXamseb comes in for praiseDespite losing their final 2017 African Cup of Nations qualifier match; there were a few positives for Namibia to consider; one of which was the performance of midfielder Oswaldo Xamseb. Player impresses coach in first start for Brave Warriors Namibia ended their campaign in the 2017 African Cup of Nations qualifiers with a 2-0 loss to the star-studded Senegal in Dakar on Saturday.
Having had a difficult week ahead of the match, the result was not too surprising as the Brave Warriors only had one full training session as a unit after a training camp in South Africa had to be called off.
Added to the team’s woes was the withdrawal from the side of regular captain Ronald Ketjijere and striker Peter Shalulile, who are both nursing injuries.
But while a bigger score line was expected, Namibia restricted their rivals, who fielded players such as Liverpool’s Sadio Mane and Cheikhou Kouyate from West Ham United, to just two goals.
Goalkeeper Max Mbaeva is said to have played a big role in keeping the score down but overall discipline by the players also stopped Senegal from running riot.

Discipline
Brave Warriors coach Ricardo Mannetti said the team’s game plan was to frustrate Senegal as much as they could.
Since the team was missing Ketjijere, who is seen as the Warriors’ chief midfield enforcer, that tactic ran the danger of not working.
But up stepped Tura Magic’s Oswaldo Xamseb, who was given his first start in Namibia’s senior national team.
“I was very impressed with the substitute appearances that he made at Cosafa and against Niger [in another 2017 Afcon match],” Mannetti said of his decision to field the player.
Xamseb is not the biggest player around but makes up for that with unmatched aggression and enthusiasm, the coach added.
“As Namibians we are small in stature so we have to make up and aggression is one of the things that I love a player to have… to make it on the international stage and to play against European-based players. So for Oswaldo, I was not even worried… because I knew he was going to cope,” the coach said.

Exceptional
Converted to central midfield from right back less than two seasons ago, the diminutive player gamely battled against the much taller Senegalese, which included the aforementioned Kouyate.
“We see Kouyate playing week in week out at West Ham. [Oswaldo] did exceptionally well, he kept the shape very well, he was aggressive and he didn’t give Kouyate room to play his normal free-flowing game in midfield…” Mannetti stated.
The young midfielder’s performance means that Namibia now has a few options in midfield.
“Obviously going forward, he’s going to give me a lot of headaches in midfield in terms of when other players are available. But it is a good headache,” the coach said.

HECTOR MAWONGA

Isaacs confident ahead of Standard Bank Super Cup

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Isaacs confident ahead of Standard Bank Super CupIsaacs confident ahead of Standard Bank Super Cup

Namibia Premier League (NPL) champions Tigers are backing their chances of walking away with the Standard Bank Super Cup when they take on African Stars at the Sam Nujoma Stadium on Saturday.
Tigers coach Brian Isaacs believes recent successes over their rivals have given them the edge.
“We are fortunate enough to have played and beaten them last time in the Hage Geingob Cup and we have the edge in terms of psychological preparedness,” he told nfa.org.na.
African Stars and Tigers last played each other in the Dr Hage Geingob Cup with Ingweinyama walking out 1-0 winners thanks to a goal by Gustav ‘Image’ Isaak.
While Isaacs expects his side to win again, he admits that it will not be easy.
“There will be no love lost when we meet on Saturday because Stars are a determined side and are defending [Standard Bank Super Cup] champions and will also go for victory.
“So it will be a tricky game and it is the biggest game for us this year as we have never won the Super Cup and lost narrowly last year to Stars,” he said.
Isaacs was speaking after the Standard Bank Super Cup awareness campaign made a turn at Football House on Saturday, 3 September.
Fans were given a chance to meet and greet the players from the two teams as well as pose with the trophy and win tickets for this Saturday’s match.
Reflecting on his side’s readiness for the game Isaacs added that Tigers will be using the match as part of their preseason training, although it is still unclear whether the NPL will kick off this season.
“The guys have been pushing very hard before the Dr Hage Geingob Cup and now going into the Standard Bank Super Cup and their fitness is top notch and we have to get to the field and do the Ingweinyama faithful proud,” he said.
Tickets for the 2016 Standard Bank Super Cup are available from Computicket at N$30 each.
-Adapted from nfa.org.na

SPORT REPORTER

Swakopmund Women’s Soccer League to host awards

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Swakopmund Women’s Soccer League to host awardsSwakopmund Women’s Soccer League to host awards

The Swakopmund Women’s Soccer League (SWSL) will host its first awards ceremony to honour players and stakeholders for their contributions throughout the season.
The awards ceremony will be held at the Festus !Gonteb Primary School in Mondesa on 7 September.
The amateur women’s football league was established in June 2015, with eight football teams based in Swakopmund competing.
The league’s chairperson, Wilson Nguvauva, said the ceremony will reward and recognise players and other stakeholders for the hard work they put in throughout the season.
“It is always a special occasion for the players and coaches because it gives them a chance to receive recognition for their achievements,” said Nguvauva.
Twelve awards will be handed over, including the Championship Award.
Namib Daughters, Dream Team and Dragon City are up for the most dedicated and disciplined team award.
Ignacia Hoases is the top goal scorer. She is also up for the player of the season award along with Gloria Ifinda and Ndahafa Shalongo.
Sonaly Narabes, Saara Awases and Tanigu !Aibes will contest the young player of the season award.
Moriza Gawanas, Kylie van Wyk and Gloria Ifinda are competing for the player of the season award, and Emilia Sumpu, Tattiana Pietersen and Chantel !Haoes for the most improved player award.
Kavetjiko Kahere and Nicky Kaovere and a woman only identified as Sarafina have been nominated for the goalkeeper of the season award.
The nominees for referee of the season are Laurika Afrikaner, Erastus Ananias and Barnabas Kambara.
Martha Jonas, Memory Hansen and Alex Kazehepa are up for the coach of the season award.
Hesron Kapanga of the Namibia Press Agency, Sherline Tjambari of Namib Times and Simon Mundandala of Omulunga Radio vie for the top journalist award.
There will also be a chairperson’s special award.
The Namibia Football Association (NFA) Women’s Department and the Federation of International Football Associations (FIFA) will donate 20 FIFA tops for the winning team, 20 Adidas shorts for the runners-up and 40 pairs of socks for the third- and fourth-placed teams.

NAMPA

Inline hockey attempts record

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Inline hockey attempts recordInline hockey attempts recordNamibia’s inline hockey players are gearing up to reclaim a Guinness world record they previously held. Aim to play world’s longest match Namibia’s inline hockey players will attempt to once again get their names in the history books as they plan to break the Guinness world record for the longest inline hockey game.
The record attempt will take place at the Scorpions Inline Hockey Club in Otjiwarongo from Friday to Sunday.
Namibia previously held the record, having achieved this in September 2013.
That record was set on the old Scorpions club concrete rink, which made conditions quite harsh.
This time breaking the record will be attempted under better conditions because the Scorpions club has a new court, with a roof for shade, proper sports court flooring and walls for protection from the wind and sand.
Many of players that took part in 2013 will be participating.
As a result excitement and planning is reaching fever pitch as they exchange ideas on what worked best, or not during the last time.
In 2013, the Scorpions club delegates played for 27 hours and 7 seconds against a team consisting of members from the other registered clubs in Namibia.
The final score was 316 to 291 in Scorpions’ favour.
That record fell in February 2016 when the inline hockey club IH Samurai Iserlohn in Iserlohn, Germany, played against players from Team Sauerland: Mendener Mambas and Highlander Lüdenscheid.
During that match the new Guinness World Record was set at 30 hours.
After getting permission from Guinness, Namibia will now attempt to reclaim their title with 32 players, divided into two 16 player teams - NIIHA OTB and NIIHA Theo’s Superspar – due to play each other.
There are rules to follow, one of which is ensuring that neither team’s number of players drops below eight.
Every change up, every goal, and every penalty needs to be recorded with the exact hour, minute and second.
This record keeping must be done by stewards, who are only allowed to work two-hour shifts at a time.
Two independent witnesses will be overseeing the game as well as the stewards.
The witnesses have to sign off all records and logbooks every two hours.
Everything has to be recorded, and the full video footage needs to be made available to Guinness.
All logs and records have to correlate precisely with the recorded footage.
Two referees will also be on the rink at all times, and all the rules, as would apply in normal games, will apply to this marathon session.
The only change is that the game will be lasting at least 36 hours, with no halftime, time-outs or breaks in between.
One FM radio station will be present throughout the attempt, and will keep the players and listeners entertained with updates and music.
The game is expected to start at 21:00 on Friday with the finish set for 09:00 on Sunday morning, when the game has reached 36 hours of action.

HEIKE DEDIG & VIKKI DE JAGER

New bill will scrutinise bank deals

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New bill will scrutinise bank dealsNew bill will scrutinise bank dealsSouth Africa’s delayed new spy law has “constitutional defects”, according to an opposing lobby group. Zuma lobbied not to sign President Jacob Zuma is considering objections to a piece of legislation that will allow the Financial Intelligence Centre (FIC) to monitor the transactions of politicians, their family members and other politically connected individuals in the private sector.
BDLive reported yesterday that the Progressive Professionals Forum (PPF), led by former government spokesperson Jimmy Manyi, petitioned Zuma to not sign the FIC Amendment Bill into law.
Zuma’s spokesperson, Bongani Ngzulunga, confirmed to Bloomberg that Zuma was considering the merit of the objections, but pointed out that there was “nothing unusual” about the process.
The PPF claimed the amendment bill had “constitutional defects” as it could violate the human rights of people who are employed by the government, or family of government employees, because this makes them a prominent or influential person that immediately renders them a “suspect”.
The bill, which has gone through the National Assembly and the National Council of Provinces, was fiercely debated earlier this year in the standing committee on finance (SCOF) where DA MP David Maynier insisted on knowing whether the Guptas were under investigation for their financial transactions.
MPs were specifically at odds over the definition of “politically influential individuals”.
Finance Minister Pravin Gordhan said earlier this year the director of the FIC and the finance minister is prohibited by the legislation from indicating whether the FIC is investigating a particular individual.
Gordhan said if they named people being investigated, it could give the person time to hide assets.
BDLive also reported that a discussion document was submitted to Cabinet in which it was suggested that financial transactions that are above a certain threshold be moved out of National Treasury and fall under government’s security cluster.
The suggestion reportedly came from mineral resources minister Mosebenzi Zwane, who had earlier issued a media statement, announcing that government would institute a judicial commission of inquiry into local banks’ decision to withdraw services to the Guptas.
The Presidency has since distanced itself from Zwane’s statement about the so-called judicial inquiry.
The delay in signing the FIC Bill into law is viewed as yet another attempt by certain parts of government and the ANC to clip the powers and independence of Gordhan and Treasury.
In addition, the deferral also means that South Africa is likely to be non-compliant with international legislation that stop illicit flows of money, such as money laundering and money appropriated to finance terrorism.


NEWS24

Call for open world economy at G20

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Call for open world economy at G20Call for open world economy at G20 The American and Chinese presidents are calling on major economies to defend free trade at a summit held as sluggish growth and disputes over steel and other imports fuel demands in the United States and Europe to protect local industry.
Opening the Group of 20 meeting, Chinese President Xi Jinping appealed on Sunday for governments to resist pressure to raise trade barriers. At the same time, a European leader highlighted the conflicts looming over the summit by calling for action on China's bloated steel industry.
China made trade a theme of the gathering in the lakeside city of Hangzhou, southwest of Shanghai, even as it faces complaints that a flood of low-cost steel exports is threatening US and European jobs, fuelling demands for trade curbs.
" We should build an open world economy," Xi said before an audience that included US President Barack Obama, German Chancellor Angela Merkel, British Prime Minister Theresa May and leaders from Japan, South Korea, India and other governments.
Governments should " avoid taking new protectionist measures" and " take effective action to promote trade growth," Xi said.
Xi called for innovation to spur growth and reforms to global financial and economic management. He appealed for cooperation in taxes and fighting corruption, and for measures to " improve the ability of the world economy to resist risks" .
China hopes its status as this year's G-20 leader will increase its influence in global economic management. Chinese officials want the G-20, created to respond to the 2008 financial crisis, to take on a longer-term regulatory role.
Other leaders have called for " inclusive growth" - a reference to efforts to spread the benefits of closer global integration to millions of people who have been left behind by wrenching change.
Obama stressed that theme at a separate news conference with May.
" We must all work together to spur economic growth, to boost free trade and build a fairer economy that truly works for all," said Obama.
Also Sunday, the president of the European Union's governing body, the European Commission, called for action on China's bloated steel industry.
The G-20 meeting " must urgently find a solution" to excess steel production, said Jean-Claude Juncker. He called on Beijing to accept a monitoring mechanism for overproduction that Beijing's trading partners blame for low prices and job losses.
China, the world's biggest steel producer, has committed to reducing its production capacity by 100 to 150 million tons by 2020, a pledge Xi repeated on Saturday.
" Free trade must be fair trade," Juncker said at a news conference with Donald Tusk, president of the European Council.
Another prominent issue at the summit is G-20 member Britain's June vote to leave the 28-nation EU, seen by some analysts as the first in a wave of moves by other nations to retreat from free trade.


NAMPA/AP

Retailers lose bid to delay Massmart exclusivity complaint

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Retailers lose bid to delay Massmart exclusivity complaintRetailers lose bid to delay Massmart exclusivity complaint South Africa’s Competition Tribunal announced on Friday that it had rejected the bid of a group of retailers to delay a hearing into an application brought by Massmart objecting to exclusivity in lease agreements concerning its Game stores.
The local unit of Wal-Mart Stores wants to enter the fresh grocery products market through its Game store chain, but is unable to do so because of these agreements between grocers Shoprite, Pick n Pay, Spar and shopping mall landlords. The exclusive leases prevent another chain from selling fresh grocery products and can last anywhere from five to 20 years, according to Massmart, known for its Makro chain of wholesale stores. “The company is of the opinion that exclusive lease agreements are intuitively anti-competitive and prevent it from developing an offering that can compete effectively with the entrenched, national retail chains,” Massmart previously said in a statement. Massmart launched a complaint with the Competition Commission on 31 October 2014 against the group of retailers about the exclusivity agreements. In November that same year, the commission said it would incorporate the complaint with other similar complaints that were then being investigated, and conduct more investigations. The Competition Tribunal ruled on Friday that Massmart had a right to bring its case to the tribunal, but said it has to give more substance to its case against the three retailers. The tribunal gave Massmart 40 business days from September 1 do this. Massmart argues, among other things, that this inquiry will focus more on small and independent retailers in townships, peri-urban and rural areas rather than a big chain store such as itself.

NEWS24

New challenges for economic growth

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New challenges for economic growthNew challenges for economic growthBrics leaders at this year’s G20 summit have expressed views on a range of global issues of importance, ranging from politics to security and the economy. Brics leaders raise issues at G20 meeting Brics leaders met on the margins of the G20 Summit in Hangzhou, China on Sunday, according to a statement issued by the Brics counties.
At the meeting of Brics leaders at the G20 Summit, they welcomed the progress in the functioning of New Development Bank (NDB) and expressed satisfaction at NDB’s approval of the first set of loans to member countries in the renewable and green energy sectors as well as the successful issuance of the bank’s first bond, a green bond denominated in RMB. They stressed, in this regard, NDB’s potential to bridge the gap in financing infrastructure projects. According to the statement, the Brics leaders exchanged views on a wide range of global political, security, economic and global governance issues of importance and mutual concern.
“Cognisant of global growth challenges, the leaders recognised that Brics countries [Brazil, Russia, India, China and South Africa] are confronted with new challenges in their respective economic growth. In this regard, they recognised that the economic growth prospects and momentum of Brics countries will continue to be a critical engine for global economic growth,” according to the statement.
“The leaders underlined the importance of further strengthening Brics strategic partnership guided by principles of openness, solidarity, equality, mutual understanding, inclusiveness and mutually beneficial cooperation.”
The Brics leaders underlined the importance of establishment of a just and equitable international order based on international law. They expressed full confidence in the successful outcomes of the Hangzhou Summit and appreciated the emphasis by the China on the development agenda.
The Brics leaders encouraged G20 members to strengthen macroeconomic cooperation, promote innovation, robust and sustainable trade and investment growth. They agreed to pursue issues of global and mutual interest to the Brics countries at the G20.
They reiterated their commitment to enhance dialogue and cooperation with other emerging market economies and developing countries.
They also stressed the importance of fostering an innovative, invigorated, interconnected and inclusive world economy to usher in a new era of global growth and sustainable development.
The Brics leaders concurred that the global economic recovery remains uneven with significant downside risks.
They underlined the significance of macroeconomic policy coordination among G20 member countries, including in order to avoid negative spill-overs and to achieve strong, sustainable and balanced growth.

Innovation
According to the statement, the Brics leaders recognised that innovation is a key driver for mid- and long-term growth and sustainable development. In this regard, they welcomed the G20 Blueprint on Innovative Growth.
They underscored the centrality of the World Trade Organisation (WTO) as the cornerstone of a rule-based, open, transparent, non-discriminatory and inclusive multilateral trading system and the continued need for development to be at the centre of the work of the WTO. They also urged the G20 member countries in collaboration with the International Monetary Fund (IMF) to step up efforts to increase the institution’s quota resources and review the distribution of quotas and votes to ensure fair reflection of emerging and developing economies.

Corruption
The Brics leaders stressed that corruption, illicit cross-border financial flows, and ill-gotten wealth derived from illegal activities, stashed in foreign jurisdictions, adversely impact institutional capacities and effectiveness and called for enhanced cooperation and effective measures among G20 economies.
They also reiterated their commitment to the implementation of the 2030 Agenda for Sustainable Development, including through strengthening cooperation among Brics countries in this process.
Lastly, they reiterated the importance of international cooperation in countering the threat of terrorism.
The 8th Brics Summit will take place in Goa, India, in October.

NEWS24

Siemens eyes international markets with new trolley assist substation

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Siemens eyes international markets with new trolley assist substationSiemens eyes international markets with new trolley assist substation Siemens South Africa is targeting international markets with its fourth-generation 11 MW fully automated direct current (DC) containerised trolley assist substation – the Siemens E House.
One of the six inaugural in-house-developed units heading to an undisclosed Namibia-based opencast mine was unveiled on Friday at Siemens’ headquarters, in Randburg.
Some 90% of the components of the mobile substation, used to power a fleet of Komatsu 960E trucks with a load capacity of 214 m2 or 327 t, are entirely manufactured by Siemens, including the control panels, rectifier, DC switchgear and alternate current (AC) switchgear.
This was up from the historical 30% of components used, as part of Siemens’ effort to target international markets in compliance with the specifications and standards of more mature economies, such as Europe, said Siemens SA lead engineer Karl van Rensburg.
Speaking to Engineering News Online at the launch, he explained that Siemens had taken advantage of the opportunity to develop its third-generation unit when the company was awarded the bid to provide electric power to adapted diesel-electric haulage trucks at the Namibian mine earlier this year.
“There is a demand (for such substations) internationally,” he said, adding that Siemens was seeing interest from companies in Botswana and the Democratic Republic of Congo (DRC), as well as Denmark and Sweden, where Siemens was currently bidding. Van Rensburg noted that, if Siemens was awarded the Swedish contract, it would mark the substation’s entry into the European market.
Meanwhile, Siemens said that the predecessors of the new Siemens E House substation – which are 10 MW and below – are currently operating at mines in South Africa, Namibia, the DRC, Zambia and North America, and have led to quicker turnaround times, reduced maintenance and engine overhaul downtime, and higher productivity for mining operations.
Siemens SA country business unit lead for rail electrification Joey Govindasamy noted that, with the success of the technology to date in the mining sector, Siemens was also targeting clients in the rail sector.
Each 11 MW fourth generation unit has 1.8 kV DC voltage and up to 10 000 A, with the capacity to operate two 300 t trucks continuously, three trucks simultaneously for ten minutes or four trucks for one minute along the overhead power lines.
This reduces the diesel costs of ore truck haulage, which can account for up to 80% of total diesel consumption when moving uphill on ramps, by between 30% and 50%, depending on the mine’s gradient, Van Rensburg pointed out.
The substations, which are assembled in Pretoria with components imported from Germany, are housed in a 6 m x 3.3 m x 3 m container and weighs around 8.5 t when fully equipped with the 1.8 kV DC switchgear, rectifiers, 33 kV ring main unit, Siprotec AC protection device and Sitrase Pro DC Feeder protection device.
Siemens has delivered two units to the Namibian mine in the past two weeks, with the third unit, which was on show on Friday, set to be transferred within a week. The final three completed substations will follow suit in the next couple of months.

MININGWEEKLY

DA wants court to remove reappointed SAA chair

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DA wants court to remove reappointed SAA chairDA wants court to remove reappointed SAA chair Reappointed chair of South African Airways (SAA) Dudu Myeni should be removed from the post, the Democratic Alliance (DA) announced Sunday, saying that during her tenure the carrier has lurched among crises.
The party said it will seek court action to declare that Myeni was an “inappropriate and incapable appointment” to run SAA. Myeni on Friday was named to another one-year term.
“The announcement by Cabinet to re-appoint Ms Myeni undermines the principle of appointing the brightest and the best to serve the state and its entities,” James Selfe, the DA’s federal executive chair, said in an e-mailed statement. Under Myeni, SAA has “leapt from man-made crisis to crisis.”
While she has been in the job, SAA failed to publish two consecutive years of financial reports and recorded apparent losses of more than R4bn in each year, according to the party’s statement. The DA said the state owned company had more than a R1 billion loss in the first quarter of the 2017 financial year. Myeni has put the airline at risk of losing lucrative routes, which will reduce revenue, the party said.s
SAA most recently reported a full-year profit in 2011, and has had seven acting or permanent chief executives in less than four years.
Instability has accelerated in the past year as senior managers departed and it was embroiled in deals ranging from Myeni’s attempts to renege on a leasing contract with Airbus to the appointment of a little-known financial adviser to source funding on its behalf. Both moves were later reversed.
In addition to Myeni, the government on Friday appointed new non-executive board members to end months of wrangling between National Treasury and the carrier.


BLOOMBERG NEWS

Growing and taking stock

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Growing and taking stockGrowing and taking stockThe worlds of private business and academia have complementary roles to play in creating a better world, the UN representative in Namibia suggests. Teamwork needed between private sector and academia As the world is increasingly challenged in its capacity to grow economically and eradicate poverty, focused partnerships between the private sector and academia should provide the surest guarantee of success.
Such was the analysis of Anita Kiki Gbeho, United Nations (UN) resident coordinator and UN Development Programme (UNDP) resident representative, at a public lecture on private-sector innovation for poverty eradication in Windhoek last week.
“By 2050, the world will need to produce twice as much food as was produced in the year 2000, but with the same amount of land and using less water,” Gbeho told those in attendance at the Namibia University of Science and Technology (NUST) mining building.
Fast-tracking economic growth was among the most effective global tools to eradicate poverty, Gbeho said, though she said growth alone was not sufficient for sustainable and inclusive poverty eradication.
“Examples abound of how entrepreneurship has lifted millions of people out of poverty. Whether this was through a shift to a market-based economy in China, that lifted nearly 800 million out of poverty; the garment manufacturing industry in Bangladesh on which more than 20 million people are dependent; or the cut-flower industry in Kenya that helped to diversify its export base,” the UN veteran said.
In the case of Namibia, she said the private sector was being looked to for answers in solving the challenge of serving people in hard-to-reach places. Private small and medium enterprises also contribute to valuable job creation while serving as incubators for larger firms.
In times of drought, the promise of low-cost technologies to help farmers reverse soil degradation, conserve water and find energy solutions for irrigation and manufacturing would come from the private sector.
It is however up to academia, she said, to support the private sector in thinking through its intended solutions, to make sure these are sustainable.
“When it comes to academia, engagement is critical to ensure that graduates can solve development problems, are employable, and possess skills that make them productive members of society,” Gbeho said.
Areas where local academia is currently engaged in include research on the genetic diversity of local grains, vegetables and fruit; and malaria elimination. Institutions involved in these include the UNDP, National Commission on Research Science and Technology (NCRST) and the University of Namibia (Unam).
The academic fraternity was particularly important now, she said, given Namibia’s development of its fifth National Development Plan (NDP5), and regional development frameworks such as Agenda 2063 and the Sustainable Development Goals (SDGs).
“Academia will be critical in tracking progress needed to measure success and to ensure accountability,” Gbeho said.

DENVER ISAACS

Avoid common house-buying mistakes

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Avoid common house-buying mistakesAvoid common house-buying mistakes

The excitement of buying one’s first house can be overwhelming.
Particularly in Namibia with its housing market renowned for having the second-fastest growing house prices, and analyst debates around a possible coming house price bust.
Being among the most complex purchasing decisions individuals will engage in, would-be home owners should thus ensure they do their homework thoroughly before ever getting started, according to FNB Namibia’s Home Loans national sales manager Magda Talbot.
In an article issued yesterday, Talbot suggested a number of tips buyers should keep in mind to avoid disappointment.
The most important consideration, she says, is affordability.
“Often first-time buyers are overly optimistic about their affordability,” Talbot says.
“Merely taking your income into account is not an accurate assessment of your affordability, as there are expenses that will have to be maintained along with your bond repayments.
“Before starting to look for a home, potential home owners should get an indication of the loan size they qualify for.”
Another important consideration, Talbot says, is your expenses - of which the bond is only one.
“Once you have successfully bought your house, you will need to be realistic about doing things like furnishing your home. It is not wise to take out credit to furnish your new home. You will need to do this gradually so that you can keep up with your bond repayments and all the additional costs related to your home”.
Other expenses that need to be budgeted include municipal rates, insurance and levies.
A third concern to take stock of is how different types of properties affect your finances.
“For example, when you purchase a sectional title you are buying a unit in a complex or a development,” Talbot says.
“Sectional titles are considered a more affordable option, because you would pay fees often referred to as levies that go towards covering your home insurance and the general maintenance of the common property for the whole complex.”
Someone who chooses to purchase a freehold property, on the other hand, whether freestanding or a cluster house, would have to maintain such property themselves, she says.
As such, she suggests that over-eager applicants should not completely rule out renting, and that they think practically despite the excitement that comes with home purchasing.
“You can save up for a deposit to ensure that when a good deal comes along, you will have a very good chance to secure the mortgage and the house that you really want, in an area that you have thoroughly researched,” she says.

STAFF REPORTER

Finalists for Africa’s leading youth entrepreneurship award

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Finalists for Africa’s leading youth entrepreneurship awardFinalists for Africa’s leading youth entrepreneurship award
This year, the Prize celebrates increased presence in Northern African markets such as Morocco and Egypt; and francophone countries such as Madagascar and Niger, and increased diversity in the business ventures represented. The increased reach is made possible by Anzisha Prize outreach efforts and a partner network of youth development organisations supporting the spread into new communities in order to recognise the yet uncelebrated youth agents of change across Africa. The 12 Anzisha Prize finalists were hand-picked from an applicant pool of 550 entrepreneurs from 32 African countries.
The Anzisha Prize applauds outstanding youth entrepreneurs between the ages of 15 and 22 for effecting change through innovative, people-centred solutions across Africa. The 2016 cohort comprises a diverse blend of young minds who are leading the mandate of socio-economic development and job creation in their communities and beyond. They are competing for their share of $100 000 USD in cash prizes.
The 12 finalists receive an all-expenses paid trip to Johannesburg for a rigorous two-week business accelerator camp beginning on13 October 2016. The grand prize-winner will be announced at an exclusive gala event on 25 October 2016.
“The momentum behind the Anzisha Prize has grown and we are starting to see a real impact,” said Koffi Assouan, program manager, Youth Livelihoods at The MasterCard Foundation. “Anzisha Fellows are forming a strong, African network of young business innovators that transcends their individual sectors and geographical areas. They are learning from each other, growing their ventures and advancing the spirit of social entrepreneurship.”
In addition to winning a share of the prize money, the finalists are given access to Anzisha Prize Youth Entrepreneur Support Unit services valued at $7,500 USD. The fellowship package includes business support, implementation of projects to grow their businesses, access to business subject matter experts and access to numerous networking opportunities.
“The tide is turning around the youth entrepreneurship narrative in Africa,” Anzisha Prize senior programs manager Grace Kalisha said, “There has been an extraordinary rise of Africa-bred entrepreneurs in the continent and their stories are being told. We are pleased that such an impressive group of entrepreneurs will participate in the Anzisha Prize this year. This is a promise of great things to come for African entrepreneurship.”
Some of the innovations seen among the applicants and finalists for the 2016 Anzisha Prize are in the agriculture sector, which is gaining in prominence among youth. The entrepreneurs have embarked upon opportunities and explored a wider spectrum of the agricultural sector’s value chain. For example, 2016 Anzisha Fellows N’guessan Olivier and Heritiana Randriamananatahina are this generation’s players in food processing; while Benedict Ampofo empowers smallholder farmers and rural youth with requisite skills in agriculture. These forward-thinking entrepreneurs announce/herald an era in which Africa’s youth are driving job creation for other youth.

Here are the finalists?
Aly Abd ElAzem, 20, Egypt. Co-founder of Teens Club, a city youth hub providing teenagers with a platform for professional self-development. Issam Darui, 22, Morocco. Founder of Lagare.ma, the first electronic bus station in Morocco.
Ifrah Mohamed, 19, Kenya. Founder of Supermom, which empowers unemployed and under-employed women by providing them with jobs in a door-to-door delivery.
Benedict Kusi Ampofo, 22, Ghana. Founder of Project KIRIKU, a demonstration farm aiming to create sustainable agricultural communities.
Lamine Chamsiya, 21, Niger. Founder of E3D Cosmetique, which manufactures and markets a range of neem-based hair and skin cosmetic products with antiseptic properties.
Yaye Souadou Fall, 21, Senegal. Founder of E-cover, which produces innovative multi-purpose tiles for paving, playgrounds, swimming pools, shoe soles and other products, from recycled tyres, employing six people to date.
Geoffrey Mulei, 20, Kenya. Founder of INKISHA, aimed at increasing access to eco-friendly packaging among African consumers by partnering with advertisers and innovative brands, providing around 350,000 free bags monthly, supported by an innovative revenue model.
N’guessan Koffi Jacques Olivier, 19, Cote d’Ivoire. Founder of The Yaletite Entrepreneurship Group CI, an ambitious initiative producing and marketing food crops for profit.
Heritiana Fabien Randriamananatahina, 22, Madagascar. Founder of FIOMBONANA, an agro-processing initiative that drives import substitution through local manufacture of dairy products. Faustino Quissico, 22, Mozambique. Founder of TQ Group and Services, which supplies, installs and maintains hardwood floors, sourcing inputs and providing employment to 13 people. Asha Abbas, 17, Tanzania. Founder of Aurateen, an online platform providing teenage health and sex education by raising awareness of high-risk behaviours, working with medical practitioners and youth experts, and offering counselling services both online and in-person.
Andrew Ddembe, 20, Uganda. Serial entrepreneur, and Founder of Heart for the Hurt, a diversified business supplying school uniforms, restaurant services and growing coffee, all of which reduce income variability for the business and around 30 employees, who predominantly have speech difficulties.
bizcommunity.com

Intercultural Dialogue at Goethe-Institut

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Intercultural Dialogue at Goethe-InstitutIntercultural Dialogue at Goethe-Institut

Paging through my glossy Achilles heel, I encountered an article challenging the Superwoman Syndrome. Intrigued, I read on, then halted briefly when I caught my audible “urgh”.
This story, criticising the so called “Superwoman Syndrome” was approved by a female editor who religiously advocates for female power in her editors note. To briefly explain, a woman with Superwoman Syndrome is one who is ambitious, hardworking and takes on many different roles – From that of Hestia, to that of Hera, while still possessing a certain Athena within, an alpha of sorts. The article tells these Superwomen to relax, not to take on so much. Yet I can’t, funnily enough, seem to recall a moment when Superman is told to relax, take a day off, because he is taking on too much. He is too ambitious. He is working too hard. This will never be uttered by any member of our patriarchal society, even less, from another man. Raised in the arid lands of the dunes, our values too, are nurtured like the Welwitschia. Young girls, raised to be male serving submissives, never daring to question the role of the opposite sex. Challenge it. As a traditional Namibian woman, I applaud the chastising of an independent, self reliant woman. How dare they try to be on the same level as men? How dare they try to sever the dependent bond that’s as old as our majestic sands? Who will care for the kids? Cook in the kitchens, serve our families? Surely not men? These women are going against the natural and traditional order of things. As a Cuban born Namibian woman, I watch the magazine page burn below the coals of my braai, in the hopes that the ridiculous ideology of the continued suppression of women, burns with it. As a Cuban born Oshiwambo teenager, I extend my list of “ambitious” goals, and call out any and every woman that would rather submit and not fight against the suppression of women, on their malarkey. As a young woman in 2016, I dare women to dust off their capes – and show the men, how it is really done.

Tia Abner

Superwoman Syndrome - My Peach Emoji

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Superwoman Syndrome - My Peach EmojiSuperwoman Syndrome - My Peach Emoji

Paging through my glossy Achilles heel, I encountered an article challenging the Superwoman Syndrome. Intrigued, I read on, then halted briefly when I caught my audible “urgh”.
This story, criticising the so called “Superwoman Syndrome” was approved by a female editor who religiously advocates for female power in her editors note. To briefly explain, a woman with Superwoman Syndrome is one who is ambitious, hardworking and takes on many different roles – From that of Hestia, to that of Hera, while still possessing a certain Athena within, an alpha of sorts. The article tells these Superwomen to relax, not to take on so much. Yet I can’t, funnily enough, seem to recall a moment when Superman is told to relax, take a day off, because he is taking on too much. He is too ambitious. He is working too hard. This will never be uttered by any member of our patriarchal society, even less, from another man. Raised in the arid lands of the dunes, our values too, are nurtured like the Welwitschia. Young girls, raised to be male serving submissives, never daring to question the role of the opposite sex. Challenge it. As a traditional Namibian woman, I applaud the chastising of an independent, self reliant woman. How dare they try to be on the same level as men? How dare they try to sever the dependent bond that’s as old as our majestic sands? Who will care for the kids? Cook in the kitchens, serve our families? Surely not men? These women are going against the natural and traditional order of things. As a Cuban born Namibian woman, I watch the magazine page burn below the coals of my braai, in the hopes that the ridiculous ideology of the continued suppression of women, burns with it. As a Cuban born Oshiwambo teenager, I extend my list of “ambitious” goals, and call out any and every woman that would rather submit and not fight against the suppression of women, on their malarkey. As a young woman in 2016, I dare women to dust off their capes – and show the men, how it is really done.

Tia Abner

SABMiller Kickstart entrepreneur finalists on business

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SABMiller Kickstart entrepreneur finalists on businessSABMiller Kickstart entrepreneur finalists on business A good business idea needs a solid business plan and entrepreneurs need the basics for running a business.
SABMiller Namibia knows that as an entrepreneur knowing the basics is the very foundation of starting a successful business and this is why the twenty finalists of the Kickstart Namibia competition received intensive business training through SBS Namibia.
The course encompassed business theory and practical case studies in self development, basic bookkeeping, finance, marketing and entrepreneurship, taught by experienced and qualified lecturers. SBS Namibia is a distance learning institution that is nationally recognised by the NQA, putting them in a unique position to teach the aspiring businesswomen and -men. The training will benefit the twenty finalists throughout the rest of the competition, since they will have the necessary knowledge and skills gained through this learning experience. After completing the assessments for the various courses, participants will receive certificates.
Kickstart is aimed at teaching a culture of entrepreneurship to the youth in Namibia. It provides intensive business skills training, business development support and grants. The competition is also a unique opportunity for Namibian youth entrepreneurs to develop their entrepreneurial skills and to better their livelihoods. One of the finalists and course participants Adda Auala said; “I would like to thank the organisers for putting together such an excellent project. I have learned so much in the last three weeks. During week one, we learned about self-awareness, what it means to be a good leader and become a better business person.” She continued; “I could relate to topics like Business management, accounting, marketing and branding, things I have encountered in my own business”. The course also allowed the finalists to identify their strengths and weaknesses, and what they should be concentrating on to make their business ventures a long-term success.
Maija-Liisa Prinzonsky Corporate Affairs Manager of SABMiller Namibia said; “Kickstart gives support to the winning businesses in the form of grants and mentorship. Grant funding is used to support and grow the winning businesses. All of this would be pointless if the winning entrepreneurs do not have a solid foundation in business theory and practice. This is why Kickstart teamed up with SBS Namibia to provide this essential training.”
“The Southern Business School Namibia prides itself on teaching relevant and practical business theory and practice to aspiring business people and entrepreneurs in this case. Teaming up with SABMiller through their Kickstart programme has enabled us to instil knowledge in very motivated individuals that will hopefully go on to help develop Namibia economically” said Albin Jacobs, Director of SBS Namibia.
Staff Reporter

NUST Students win 1st prize at the SCM

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NUST Students win 1st prize at the SCMNUST Students win 1st prize at the SCM

The Students Christian Movement of Namibia, with its inter-regions focuses on a common goal of making Jesus King.
SCM Southern region gathered the weekend of 20-21 August 2016 under the theme “we are many, we are one; dealing with temptations and Lord teach us to pray”. SCM Southern is student-led faith-based society with students from NUST, UNAM main campus, UNAM southern Campus, UNAM Khomasdal Campus, UNAM Sam Nujoma campus and IUM as members. All of them gathered to celebrate God’s creation. Amongst others were speeches that were meant to educate students on living a Christian life, a life dedicated to prayer. Students competed in two competitions: a Bible study competition and a singing competition, with NUST SCM winning both prizes.
Addressing members of SCM from the Southern Region, the regional Bible study coordinator Mr Junias Junias said “Each and every Christian in the world is wishing and craving for eternity. This is not something that one can achieve easily if he/she is not fully aware of its prerequisites. This is because the world we live in today is full of complex challenges and deceitful pleasures. If this is the case, we therefore need to spiritually educate one another using sacred scriptures to address the challenges we face today. We are happy that SCM is Bible oriented. Thus it is worth being a member, and by the way, SCM is not a church as many may think and it is not at the brink of collapse or extinction. SCM is winning souls of all members of different denominations. Bible study is 80 % representative in SCM. We hold Bible study examinations, and the purpose of the Bible study is not for competition, but to test members’ understanding when it comes to God’s principles, its interpretation and application to our everyday life situations we live in.”
Members also participated on the Bible study examinations, and this year it was done differently from last year compares to previous years, this time participants were selected randomly, ready or not ready, they were picked. Senia Amadhila, a UNAM SCM member who was selected said, “it promotes one’s ability to know the Bible better. It awakens our minds as Christians to start studying the Bible, not just reading it. No one will feel left out; no corruption will arise from this, because fairness talks here – and I think everyone will be ready next time with this type of selection in mind.”
One of the members that first refused to write, but later agreed, Sexon Hamutenya said “well, it is actually a good idea. Choosing people randomly will help people prepare themselves to write, and this is a fair selection whereby everyone has a chance. I thought this selection was a bad selection, but later realised that it’s actually good.”
SCM is focused on dedicating its members to living a life that is worth living, a life with Christ as the foundation.
Kumbi Chitenderu
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