Articles on this Page
- 08/31/17--16:00: _Housing still out o...
- 08/31/17--16:00: _Land conference pos...
- 09/01/17--02:34: _ Judges annul Kenya...
- 09/03/17--15:00: _Galz & Goals grinds...
- 09/03/17--15:00: _Kauta to lead NPL
- 09/03/17--15:00: _Football academy ge...
- 09/03/17--15:00: _Namibian bowlers to...
- 09/03/17--15:00: _Ompumbwe yomagumbo ...
- 09/03/17--15:00: _Iimbuluma tayi ning...
- 09/03/17--15:00: _Epango lyoPrEP lya ...
- 09/03/17--15:00: _Ramaphosa eyes 'exp...
- 09/03/17--15:00: _China factory activ...
- 09/03/17--15:00: _US ban on North Kor...
- 09/03/17--15:00: _Green loans from Ne...
- 09/03/17--15:00: _Female entrepreneur...
- 09/03/17--15:00: _Financial hurdles f...
- 09/03/17--15:00: _Show centre for Gob...
- 09/03/17--15:00: _Eskom must sign PPP...
- 09/03/17--15:00: _Benefits of cycling...
- 09/03/17--15:00: _Welwitschias domina...
- 08/31/17--16:00: Housing still out of reach
- 08/31/17--16:00: Land conference postponed again
- 09/01/17--02:34: Judges annul Kenya presidential election
- 09/03/17--15:00: Galz & Goals grinds to a halt
- 09/03/17--15:00: Kauta to lead NPL
- 09/03/17--15:00: Football academy gets boost
- 09/03/17--15:00: Namibian bowlers to defend cup
- 09/03/17--15:00: Ompumbwe yomagumbo tayi londo
- 09/03/17--15:00: Iimbuluma tayi ningilwa aatalelipo tayi londo
- 09/03/17--15:00: Epango lyoPrEP lya tameke
- 09/03/17--15:00: Ramaphosa eyes 'explosive' growth for SA
- 09/03/17--15:00: China factory activity expand further in August
- 09/03/17--15:00: US ban on North Korea travel comes into force
- 09/03/17--15:00: Green loans from Nedbank
- 09/03/17--15:00: Female entrepreneurs share business lessons
- 09/03/17--15:00: Financial hurdles for SMEs
- 09/03/17--15:00: Show centre for Gobabis
- 09/03/17--15:00: Eskom must sign PPPs by Oct
- 09/03/17--15:00: Benefits of cycling: Mannie Heymans
- 09/03/17--15:00: Welwitschias dominate EP Kings
Although the falling demand is hitting the luxury property market, according to commentators, families are still priced out of the market owing largely to a shortage of affordable housing in the country.
The dire shortage of housing units is also having a significant knock-on effect on affordability for first-time buyers.
While prices of houses remain relatively high, the growth driving it is slowing down and has been slow for some time now for the upper segment of the market.
On the opposite end, the demand for houses in the lower and middle segments appears to be on the rise and is reflective of the health of the economy, according to First Capital analyst Milner Siboleka.
According to him, while prices are rising overall, the growth is slow.
“Overall, prices are still rising, but at a much slower pace. However, looking at specific segments, the upper market segment price growth has plunged into negative territory in recent months while in the middle and low market segment, prices are still on the rise,” said Siboleka.
Property prices in the lower and middle segments were driven by basic economic principles of supply and demand, Siboleka said.
“For middle and low market segment houses, I believe the price growth has only adjusted from the speculative induced prices witnessed over the years, to the low levels reflective of the economic fundamentals,” he said.
Siboleka said he had noticed that price movements in the upper segment of the market were not driven by market fundamentals.
“For the upper market, property prices are different. In fact, the price bubble of upper market properties seems to have reached an inflection point. Instead of adjusting lower with the economic fundamentals of demand, prices in this market segment have been falling,” said Siboleka.
There also appears to be no respite for potential house owners in the low and middle segments.
“We need to be mindful that house prices, like other asset classes, follow the theory of business cycles. However, with limited evidence of a rebound in purchasing power of both locals and foreign investors, in this case neighbouring countries [Angola], and the prolonged weak domestic economic fundamentals, I see this situation remain for a long time,” he told Namibian Sun.
The average price of houses around the country remains above the N$1 million mark, data from FNB Namibia has shown.
This was the case for Windhoek, Walvis Bay, Swakopmund, Ongwediva, Henties Bay and Tsumeb, with all the towns sampled showing slight increases in price.
The only exceptions were Oshakati, Ondangwa, Keetmanshoop, Gobabis and Okahandja.
The data also showed that price increases were witnessed in all the towns indicated, with the only exception being Gobabis where negative price growth of N$337 000 was noted.
Despite the high prices, sales activity for property also remained slow and was not expected to improve. According to FNB Namibia property analyst Josephat Nambashu, the number of towns showing a decrease in property prices was on the up.
“Across the country we find 16 towns with positive growth, while the list of towns with negative growth is increasing,” he said.
Nambashu also pointed out that surveys conducted among estate agents had shown deterioration in sales activity.
“Our estate agent survey suggests that trading activity across the market is deteriorating and that properties are spending as much as 25 weeks on the market and particularly in the high income space,” he said.
Andreya Pereira Properties sales executive Jannie Erasmus was of the opinion that the market was more favourable to buyers. Sales in the upper segment of the market moved slowly, according to Erasmus.
“There is definitely a noticeable difference in the market. It is now becoming a buyer's market. This is due to an increase in supply of houses for sale. Most of our successful sales are selling below valuation, as an example we just received an offer sale for N$1.75 million despite having a value of N$2.05 million,” said Erasmus, who added that the changes were most noticeable in the higher end of the market.
University of Namibia academic Roman Grynberg said the property market had been showing signs of cooling for some time. He added that banks would remain resilient even with price corrections.
“The property market is certainly cooling and has been doing so for a while. Volumes have been declining even though prices have continued to rise. Our banks are relatively healthy and it would take a major price correction to put them in trouble,” said Grynberg.
A young professional, Anna-Lisa Shindongo, said buying a decent home was still a pipe dream for her. According to her, young professionals have to contend with making other purchases such as vehicles.
“We buy vehicles just so that we can have a possession. It is also better to rent. If you rent then you can move the disposable income to other expenses like food and fuel as an example. Some of us are also only starting out now. How can we afford to make these payments that are being sought?” she asked.
Nesdha de Jongh, who is employed at a local parastatal, said it would be very difficult for young professionals to meet the mortgage payments required by commercial banks, despite the noticeable slowdown in growth observed.
“We see house prices coming down. But what young person will be able to make a repayment of N$15 000 on a house? To add to that, a house also requires maintenance and there are other general expenses like food. The problem is the mortgage, to be honest,” he said.
The presidency cited a number of concerns by stakeholders such as civil society and the Swapo Party Youth League, which wanted more time for consultation.
This is the second time that the authorities are postponing the land conference, which was initially set for 2016.
Last year the conference was called off indefinitely due to severe financial constraints and the prolonged drought.
Early last month, the Namibia Non-Governmental Organisations Forum (Nangof) requested President Hage Geingob to postpone the conference, arguing that the land reform ministry was not ready for a gathering of such magnitude.
Uhuru Dempers of Nangof said there was too much at stake and the conference was being organised without the involvement of all the stakeholders.
In earlier interview with Namibian Sun, Dempers maintained there were no substantive outcomes from the ministry's recent consultations, which only concerned self-evaluation of policies and procedures.
“The ministry is organising the second national land conference without the involvement of key stakeholders such as traditional leaders, church organisations, farmers' organisations, rural women's organisations, NGOs and so on.
“It was just a few bullet points offered in presentations. What they brought to the regional consultation was self-evaluation.”
The court has called for a new election within 60 days.
Opposition candidate Raila Odinga had claimed that the electronic voting results were hacked into and manipulated in favour of Kenyatta, who won a second term with 54 percent of the vote.
Kenyans had been braced for another round of protests if the court upholds Kenyatta's victory.
Odinga had unsuccessfully challenged the results of the 2013 vote.
The coordinator at Karasburg, Pandu Petrus, says the Women's Desk continues to ask for fixtures for the Galz & Goals league in her region but fail to deposit the money into their account.
“The people are not paying the money we request. When we inquire they tell us the money is coming but it's not. I have even stopped sending the planned fixtures because it is a waste of time,” Petrus says.
Emmacula Eigowas, coordinator of the programme at Otjiwarongo, says a lack of money is killing the league. According to her, the Women's Desk, which is in charge of the programme, uses the money to pay salaries instead of using the money for the intended purpose which is to develop players at grassroots level.
“The players are not benefitting from this programme and it seems like it's is just a face to continue receiving funds yearly from FIFA.
“We use our own money to organise games and to keep the players motivated. It's not right at all. When we ask about money all they do is send us messages that our planned fixtures are not well set up, which is not true.
“Then later we hear on the grapevine that the money was instead given to the Brave Warriors for the 2018 Chan qualifiers and then we suffer,” she says.
Salome Iyambo, who is coordinating the league at Okahandja, says she usually pays for the field, transport and referees from her own pocket because if and when the money is deposited, it is not in full.
“Many times I had to fork out money to pay for facilities myself. We don't even have a clear understanding of the yearly budget and what we are supposed to receive to run the programme.
“It seems like they give us money on their own prerogative. I even asked for the budget plan for the year, nobody responded to me,” she says.
Iyambo adds that she has no equipment and the same goes for the other towns.
“The girls are supposed to train as they play but then you encounter a situation where equipment for training is not enough and then we have to finance those things ourselves as well. It's really frustrating.”
An anonymous source at Unicef says the NFA should take responsibility for the commitment they made and distribute the FIFA funds to the respective leagues.
The source also says that the Unicef money is intended to develop coaches and to expand the programme to different regions and that the money from FIFA is mainly to support football activities.
Jacky Gertze from the Women's Desk said questions should be referred to Barry Rukoro at the NFA. Rukoro could not be reached by telephone on Friday.
Kauta will serve as chairperson and will be deputised by Black Africa chairperson Boni Paulino. Both were elected unopposed at the extraordinary elective congress in Windhoek.
The other members are Peter Nakurua (Tura Magic), Victor Hamunyela (Civics), Gabriel Tjombe (Eleven Arrows), Marley Ngarizemo (Young Africa) and Thomas Shapi (Rundu Chiefs).
Kauta takes over from Blue Waters representative Franco Cosmos, who was appointed as the interim chairperson in February this year after the resignation of NPL chairperson Johnny Doeseb following infighting within the football fraternity and lack of sponsorship to run the league.
The Namibia Football Association (NFA), however, did not recognise the interim committee, and in April this year appointed an ad-hoc committee to organise the league's elective congress.
Speaking to Nampa on Saturday, league administrator Tovey Hoebeb said the executive committee would spearhead the start of the league which has been inactive since May 2016.
“It's too early to start talking about the start of the league but the exco members will meet on Tuesday to outline the way forward,” he said.
The academy, which opened its doors in May this year, caters for girls in the age range of six to nine years and boys between the ages of nine and 13 years.
The Gladiators captain is a teacher at Bethold Himumuine Primary School and played football professionally in the German Women League in the Westphalia region for two years and has a Uefa coaching licence, Fifa Grassroot and International grassroots certificate.
Before reaching these heights she played football in the dusty streets of Opuwo, where opportunities to play football were rare.
“There is no way that you would think that a girl from Opowu would get the chance to play football on an international level, but it happened.”
She said that most players are gifted, but they lack certain attributes which can take them to great heights, hence the initiative for the football academy.
“I see most girls in the national team who can't pass the ball the right way. I think if players are developed and groomed at a young age they don't have to struggle with basic skills when they get to national level,” she says.
“My football career will end any time but because I have such passion and love for the game, I thought of giving young girls and boys a chance and opportunity to also reach their dreams,” said Kasaona.
“I would really like to thank the sponsor for enabling the academy in this way. I wish more business people would realise the importance of sport in the community,” she said.
Individuals interested in aiding the academy can call 081 417 5654 or 081 763 2600.
The competition takes place in Johannesburg, South Africa, on 9 September.
Namibia Sports Commissions chief administrator Freddy Mwiya said bowling had done very well for Namibia in international competitions and such hard work should be recognised.
He also called on the sport code to make its presence felt in all corners of the country, as bowling is only played in four regions - Khomas, Erongo, Oshikoto and //Karas.
Douw Calitz said Namibians are currently the defending champions at the competition and they plan to bring back medals from the championships. She said they would fly the national flag high in South Africa.
Another bowler, Lesley Vermeulen, said receiving national colours from the commission made them feel recognised as a sport.
Last year, Namibia won gold in the four-person and double team events. They were also crowned the second best overall team of the competition, winning silver.
The teams competing in this year's championships are Botswana, South Africa, Kenya, Malawi and Zimbabwe.
The players representing Namibia are:
Women's National Team: Sheena du Toit, Lesley Vermeulen, Amanda Steenkamp, Maria van den Berg and Anjuleen Viljoen.
Men's National Team: Graham Snyman, Will Esterhuizen, Douw Calitz, Appolis Gidion and Axel Krahenbuhl. Team manager: Jean Joubert. Team coach: Anthony Crawford.
Ompumbwe yomagumbo ga tungwa nayo okwa dhidhilikwa kutya otayi etitha ompumbwe yomagumbo onene mokati koshigwana unene kaalandi yotango.
Kwiikwatelelwa koohapu dhomunongononi gwopaliko gwoFirst Capital, Milner Siboleka nonando ondando otayi londo pombanda, otayi londo pandjele yopevi.
Oondando dhomagumbo moshilogo odhili dha tameka pomiliyona yimwe, pauyelele mboka wa hololwa kombaanga yoFNB Namibia.
Onkalo yondando ndjoka oyi li moondoolopa ngaashi Ovenduka, Ombaye, Swakopmund, Ongwediva, Henties Bay noTsumeb.
Eyooloko olya monika moondoolopa ngaashi ,
Oshakati, Ondangwa, Keetmanshoop, Gobabis nOkahandja.
Omiyalu odha holola kutya e yo pombanda lyoondando dhomagumbo odha monika moondoolopa adhihe ndhoka dha tumbulwa, kakele kondoolopa yaGobabis moka mwa dhidhilikwa e yo pombanda eshona.
Kakele koondando dhi li pombanda, elanditho lyomagumbo nalyo olya dhidhilikwa kutya itali londo pombanda na inaku tegelelwa onkalo yeyo pombanda lyelanditho lyomagumbo.
Kwiikwatelelwa komunambelewa gwoFNB Namibia property analyst, Josephat Nambashu, omwaalu gwoondolopa ndhoka dha dhidhilike egwo pevi lyoondando dhomagumbo moshilongo, otagu londo pombanda.
“Moshilongo otwa mono oondoolopa dhi li 16 ndhoka dhi na e yo pombanda lyoondando dhomagumbo ihe omusholondondo omule ogwoondoolopa ndhoka kadhi na e yo pombanda lya sha.”
Nambashu okwa tsikile kutya omayalulo ngoka ga ningwa oga ulike kutya aalandithi yomagumbo oyendji oya holola egwo pevi lyelanditho lyomagumbo.
Omulandithi gwomagumbo moAndreya Pereira Properties, Jannie Erasmus okwa holola omaiyuvo ge kutya oshikondo shelanditho lyomagumbo otashi gandja owala uuwanawa kaalandi yomagumbo ngashiingeyi.
“Otamu monika eyooloko enene momalanditho gomagumbo. Ngashiingeyi omalanditho oga ninga gaalandi naashoka otashi etithwa komagumbo ogendji ngoka geli mongeshefa ngaashiingeyi. Omalanditho ogendji ngoka taga ningwa otaga ningwa pangushu yopevi. Oshiholelwa otwa landitha egumbo koomiliyona 1,75 nonando ongushu yegumbo ndyoka oya li poomiliyona 2.05,” Erasmus ta ti.
Omuniilonga moshiputudhilo shoUniversity of Namibia, Roman Grynberg okwa popi kutya ondando yomagumbo moshilongo otayi ulike egwo pevi.
Anna-Lisa Shindongo, okwa popi kutya okwa kala nondjodhi yokulanda egumbo lyondjodhi ye. Okwa popi kutya aanyasha ohaya landa unene iiyenditho pehala lyomagumbo molwaashoka oondando dhomagumbo odhi li pombanda unene okuyeleka nondando yiiyenditho.
Nesdha de Jongh, ngoka e li omuniilonga gwehangano lya yama kepangelo, okwa popi kutya aanyasha itaya vulu oondando dhomagumbo dhoka dhi li pombanda unene nonando otadhi gu pevi.
“Oondando otu dhi wete kutya otadhi gu pevi ihe olye ta vulu okufuta ondando yokomwedhi yegumbo yooN$15 00? Shimwe natango egumbo olya pumbwa okulongwa oshowo iinima yilwe ngaashi iikulya. Uupyakadhi iifuta yegumbo.”
Kwiikwatelelwa kOmunambelelwa Omukuluntu gwoHospitality Association of Namibia (HAN), Gitta Paetzold, okwa popi kutya iimbuluma negameno lyaakwashigwana oshowo aatalelipo iinima mbyoka tayi vulu okugwitha pevi oshikondo shaatalelipo.Okwa popi kutya, nonando Namibia okwa kala nokwiiholola kutya oshimwe shomiilongo yi na egameno na otayi nana aatalelipo, iiponokela mbyoka tayi ningilwa aatalelepo oya londa pombanda ngashiingeyi, oshowo iiponga yomoondjila mbyoka tayi etithwa kokuhinga nuuhasha.
Paetzold okwa popi kutya omaponokelo gaatalelipo, iimbuluma ngaashi oku ya yeka oondjato dhawo niinima yawo yilwe, ekwateko lyiiyenditho yawo niimbuluma yimwe mwakwatelwa okuya landula okuza kuupale woodhila oshowo omadhipago gaakokele ngoka taga ningwa moshilongo oshimwe tashi etitha uumbanda moshigwana oshowo pondje yoshilongo.
Okwa popi kutya iiningwanima mbyoka inayi kala owala tayi dhana onkandangala komapandja gomakwatathano gopainternet ihe oya etitha woo aanambelelewa aakalelipo yiilongo ya tseyithile aakwashigwana yawo .
Canada okwa kunkilile aakwashigwana ye muMei, sha landula omapekaapeko ngoka a ningi, omanga UK a kunkilile aakwashigwana ye omolwa iimbuluma yomomapandaanda ngaashi gaVenduka, mbyoka ya londa pombanda noonkondo.
Paetzold okwa popi kutya okwa talelepo Europa muMei gwonuumvo na okwa tsakanene naakalelipo yomahangano omamwayina noHAN moGermany, ngaashi Deutsche Hotel und Gaststaettenverband (DEHOGA).
Okwa popi kutya aakalelipo mboka oye mu pula kombinga yonkalo yiimbuluma moshilongo shetu omolwa omakunkililo ngoka geli miifo yaatalelipo, na okwa ti shoka otashi yi moshipala aantu ya hogolole Namibia uuna taya yi momafudho.
Okwa tsikile kutya oshikondo shaatalelipo osha kumwa noonkondo sho kutya gumwe gwomaafekelwa mboka ya kambadhala okukwata ombambyona aatalelipo moWestern Bypaas mOvenduka, opo owala a mangululwa modholongo sho a pewa omboloha.
Okwa mangululwa nonando oku na nale iipotha ya faathana teyi tamaneklwa mwakwatelwa woo omuyeka kwahomatiwa.
Onga oshizemo shoka, HAN okwa shangele Oshikondo shUuyuki omukanda ta pula opo oompango dhi na sha negandjo lyomboloha dhitalululwe.
“Kape na esiku tali piti inaku lopotwa iimbuluma moshilongo. Komunkulofuta iilyo yetu yimwe oya ninga oshitopolwa shegameno lyaakalimo , na oye na ontseyo kombinga yomiyeka, omateyo gomagumbo oshowo iimbuluma yilwe. Aalandithi yamwe po momapandanda nayo otaya mbandapaleke aatalelipo mboka taya endaenda moondoolopa.”
Okwa hokolola kutya ope na oshipotha moka omulandithi gwomomapandaanda a futitha aatalelipo oshimaliwa shooN$20 opo ya vule okuya moJetty, nonando shoka iikengelela yowala.
Paetzold okwa tsikile kutya enyano lyiiponokela tayi ningilwa aatalelipo ndyoka lya ningwa kOminista yAatalelipo omasiku ga piti ,Pohamba Shifeta, oshili oshizemo shethiminiko ndyoka tali zi koHAN.
Okwa popi kutya elalakano lyawo okumona eyambidhidho okuza kaakuthimbinga yalwe moshikondo shoka.
Okwa popi kutya oya tsakanene woo nOpolisi yOshilando shaVenduka, oshowo Opolisi yaNamibia na oya holola omaiyuvo gawo kombinga yonkalo ndjoka.
Omukomeho gwopolisi yaNamibia, Sebastian Ndeitunga, okwa lombwele oNamibian Sun kutya otaku tulwa miilonga omilandu dha nuninwa egameno lyaatalelipo moshilongo.
Moshilandopangelo, Opolisi yOshilando oya tula omathano pomahala mpoka pwa dhidhilikwa kutya opo unene hapu ningilwa iimbuluma na oya tula aanambelewa inaya zala omizalo dhopolisi pomahala ngoka.
Oshikondo shaatalelipo okwa lopotwa sha e ta moshilongo iiyemo yakalelapo oopresenda 3.8 dhiiyemo yoshilongo mo-2012, na osha kutu miilonga aantu ya thika po-22 897.
Omwaalu gwaantu taya talelepo oshilongo ogwa londa muule woomvula dha piti, sho mo-2015 Namibia a talelwapo kaatalelipo ya thika pomiliyona 1.3 okuyeleka naatalelipo o-254 978 mboka ya talelepo oshilongo mo1993. Aatalelipo oyendji ohaya zi kiilongo ngaashi Germany, UK, USA, France, Switzerland naNetherlands.
Ehangano lyoNamibia Medicines Regulatory Council (NMRC) oya zimine elongitho lyepango ndyoka lyo antiretroviral drugs Tenofovir oshowo emtricitabine muMei nuumvo.
Epango olya falwa moshigwana lotango muJuli kehangano lyoSociety for Family Health (SFH) okupitila moWalvis Bay Corridor Group oshowo muupangelogona woNappa meyambidhidho lyiimaliwa okuza kehangano lyoUSAID.
Namibia okuli shimwe shomiilonga 15 mbyoka ya holoka ohokwe neitulemo lyawo okutula miilonga ooprogramma ndhoka dhoPrEP.
Ooprogramma ndhoka otadhi ka tala unene ngaashi kaalumentu mboka haya yi miihulo naalumentu oshowo aakiintu mboka haya landitha iihulo oshowo aakwashigwana yalwe itaya ka tindilwa epango ndyoka. PrEP oyi li omukalo gwekeelelo lyetaandelo lyombuto yoHIV, na otayi pewa aantu mboka yeli moshiponga shokukwatwa komukithi ihe kaye na ombuto ndjoka. Pauyelele mboka wa gandjwa kokaklinika koNAppa mOvenduka, aantu yaheyali oya tulwa kepango ndyoka.
Edward Shivute, Menindjela gwoWalvis Bay Corridor Group (WBCG) Wellness Services, okwa popi kutya aantu 19 mboka ye wete kutya oyeli moshiponga shokukwatwa kombuto ndjoka, oya tulwa kepango ndyoka mOmbaye. Aantu 18 oya tulwa kepango lya faathana mOshikangp.
“Oyendji mboka aantu mboka haya landitha iihulo oshowo aahingi yomaloli,” Shivute a popi.
Pahapu dhe, epango ndyoka otali ka andjakanekwa miitopolwa ngaashi Khomas oshowo Zaambezi.
Okwa popi kutya epango ndyoka olya halika koyendji unene moshitopolwa shaKhomas moka mu na omwaalu omunene gwaantu mboka haya landitha iihulo.
Okwa popi kutya oya mono kutya ompumbwe yepango ndyoka oyi li pombanda pethimbo taya ningi omakonaakono gombuto yoHIV.
“Ohatu ningile aantu ya thika po-300 omakonaakono kehe omwedhi na oopresenda dhili pokati ko-20 no 30 ohadhi monika ombuto.”
Epango ndyoka otali vulu woo okumonika moostola dhomiti, uuna omuntu e li shangelwa komundohotola, kondando yooN$450.
Olopota yoUNAIDS Global AIDS Update yomo-2017 oya popi kutya omandiki gokuninga omakonaakono gombuto 2017 otaga vulu okwaadha omalalakano gekondjitho lyetaandelo lyombuto paku gandja epango ndyoka kaantu mboka inaya monika ombuto.
UNAIDS ota pula woo iilongo opo yi vule okwaadha omalakano gekondjitho lyetaandelo lyombuto okuya poopresenda 90 mo-2020.
He was delivering an address at the Competition Law, Economics and Policy Conference at the Gordon Institute of Business Science. Ramaphosa spoke on the role of competition policy in correcting the concentrated economy inherited from the apartheid government.
A concentration study by the Competition Commission confirmed views that the South African economy remains highly concentrated, commissioner Tembinkosi Bonakele said earlier. At least 70% of economic sectors are dominated by three or four large firms, with an average market share of between 46% and 67%.
“Inclusive growth can be enabled by deconcentrating our economy,” said Ramaphosa. “Anti-competitive behaviour prevents economies from ever realising their potential.” For this reason competition policy should not just be focused on promoting market efficiency, but should be an instrument that effects fundamental economic and social change.
“Competition policy plays a pivotal role to address the injustice of the past.” Apartheid resulted in the excessive concentration of ownership and control within the national economy.
An OECD report commented on South Africa's competition environment, stating the country set up lofty ideals for a competition policy with transformational aspirations to change the structure of the economy, as a result of the past.
“Apartheid so structured our economy that it only favoured a particular racial group to be the owners and the controllers of the economy. It did so by law, convention, by practice and everything else.”
Lessons from the US
Ramaphosa said he studied what happened in the US, when President Franklin D. Roosevelt broke up monopolies. “He did that because he concluded that the dominance of certain monopolies in certain sectors of the economy were not good for the American economy.”
The US's oil industry was dominated by a few companies. When Roosevelt broke up these players, 40 companies emerged. “America took off, the growth was breathtaking. That defined America as a blue-blooded capitalist country where competition was the rule of the day.”
Ramaphosa said competition is to the benefit of companies it sharpens their wits. “Market concentration is not good for an economy. An economy that seeks to grow and thrive and embrace new technologies and efficiencies and consumer concentration is an economy that can work better and efficiently.”
South Africa can learn from what has happened in the US, he said. “When he [Roosevelt] opened up the sectors, they exploded with growth. Similarly, that can happen here.”
Ramaphosa said that competition policy has a role to play in undoing gender and racial economic concentration by opening up the economy. He commended South Africa's competition authorities for being “world class” and performing at the “cutting edge”. There is space for new entrants and the competition policy can open up the space and promote inclusive growth, said Ramaphosa.
The readings, compiled for Chinese financial magazine Caixin and focusing on smaller manufacturers - will lift hopes that the world's number two economy and key driver of global growth is stabilising following years of slowing.
The Caixin Purchasing Managers Index (PMI) came in at 51.6 for the month, up from 51.1 in July.
A PMI figure above 50 represents growth while anything below points to contraction.
The Caixin data tallies with the government's official PMI reading Thursday, which also showed expansion.
Solid foreign demand helped lift new order growth, encouraging companies to expand production schedules and purchasing activities, Caixin said in a statement with data compiler IHS Markit.
Manufacturers seeking to improve efficiency reduced staff numbers in August, which, combined with the rising pick-up in new work, resulted in an increase in the number of unfulfilled orders.
“Overall operating conditions of the manufacturing sector improved further as market demand strengthens,” Caixin analyst Zhengsheng Zhong said the statement.
But the manufacturing sector still faces headwinds from stricter environmental policies, which resulted in longer delivery times, as well as inflationary pressure driven by rises in input costs and output charges.
Higher prices for key industrial metals were likely a key factor in driving up price indices, Julian Evans-Pritchard of Capital Economics said in a note.
“It is speculation over future capacity cuts that has pushed up metal prices and industrial production, rather than stronger underlying demand.”
“If prices rise too quickly the profitability of companies in the middle of a supply chain may be under pressure,” Zhong said.
Tighter monetary policies will lead to a further slowdown in the economy, according to Evans-Pritchard, adding that they are likely to cripple the long term sustainability of the current strength of industrial activity.
The measure was imposed following the death of student Otto Warmbier, 22, in June, a few days after he was sent home in a mysterious coma following more than a year in prison in the North.
He had been convicted of offences against the state for trying to steal a propaganda poster from a Pyongyang hotel and sentenced to 15 years' hard labour, with US President Donald Trump blaming Pyongyang's “brutal regime” for his plight.
On its website the State Department says it took the decision due to “the serious and mounting risk of arrest and long-term detention of US citizens”.
Three Americans accused of various crimes against the state are behind bars in the North, which is engaged in a tense standoff with the administration of US President Donald Trump over its banned missile and nuclear weapons programmes.
Earlier this week Pyongyang launched a missile over Japan, in a major escalation, and it has threatened to fire rockets towards the US Pacific territory of Guam. In July it carried out its first two successful tests of an intercontinental-range missile, apparently bringing much of the US mainland into range.
Exemptions to the travel ban are available for journalists, Red Cross representatives, those travelling for humanitarian purposes, or journeys the State Department deems to be in the national interest of the United States.
But NGOs working in the North privately express concerns about how the process will function and the potential impact on their work.
A few remaining US citizens in the country left on Thursday, reports said.
Americans represent around 20% of the 5 000 or so Western tourists who visit the North each year, with standard one-week trips costing about US$2 000 and budget journeys about half that. The vast majority of tourists visiting North Korea are Chinese.
North Korean tourism development officials have said the ban will have no effect on the economy, with one telling AFP in July: “If the US government says Americans cannot come to this country, we don't care a bit.”
Other curious foreigners still travel to the North, and an art symposium in Pyongyang this week saw foreign artists, most of them European, working together with North Koreans.
Norwegian artist Marius Engan Johansen and his North Korean counterpart Ri Pak sculpted clay busts of each other on either side of the same stand.
DMZ Academy organiser Morten Traavik told AFP that one of the events' aims was “to show the wider world in this special critical time that communication is possible”.
“By working together and by trying to understand each other... it is possible to communicate when both sides have a will and wish to do so,” he said.
AFD, France's bilateral development finance institution, has put in place since 2007 a targeted support to develop innovative green investments through environmental credit lines for local financial institutions.
Nedbank Namibia will use the credit line to locally finance small-scale projects dedicated to renewable energy, energy efficiency and sustainable resources management, working closely with the Environmental Investment Fund providing technical assistance.
Nedbank Namibia can provide its expert knowledge of the local context and its network, especially through the work it has been doing through its Go Green Fund, which is a targeted environmental fund that supports individuals and organisations in Namibia that are working towards a more sustainable future.
“We are convinced that this partnership complies with Namibia's objectives to fight poverty by supporting the creation of green jobs. The French embassy supports this partnership and it is a way to implement the Paris agreement. It is a great pleasure to see the private sector showing the way in fighting climate change,” said Arthur Germond, the AFD deputy director for the southern Africa regional office.
Nedbank Namibia's managing director, Lionel Matthews, said he was proud of the association and agreement between Nedbank and the AFD, outlining that collaborations of this nature are critical and that the agreement is aligned to Nedbank's sustainability focus and commitment to combating climate change.
“As the leading sustainable bank in Namibia, this facility empowers us to build and expand further on the impact of our already existing sustainability programmes, and will as well help us forge new ones. As a bank committed to doing good for individuals, businesses, society and our communities, opportunities such as these allow us to go that much further in ensuring a better future for all. It is very clear that the continued investment into sustainable development is imperative if we want to preserve the finite resources of our world, and continue to address the developmental needs of the future,” he said.
Audrey Akwenye, co-founder of WEB alongside Mariane Akwenye and Counney Kemp, briefed the twenty selected guests in attendance to learn how to grab opportunities during economic challenges.
“We have taken note of the various challenges that entrepreneurs have been facing during this time and decided to create a cost-effective workspace where entrepreneurs can continue to share ideas, connect with other innovators, and learn the necessary skills to succeed in their business,” Akwenye said.
“A few entrepreneurs have lost some hope in terms of continuing their businesses and closed their doors to recover; therefore, we have added a mentorship programme to re-spark that drive to still succeed while we weather the storm. I am pleased to announce that our next session will be hosted by Andrew Hansen from Simonis Storm to guide participants on structuring their company for future investment,” she added.
At the dual occasion of WEB's premiere, Afra Chase admitted to the economy having an effect on her business but in a positive way. She shared her insights from personal experience. “I consult with many customers who have been able to discuss their financial household issues more openly and seeking advice.
“This is a great sign which indicates that Namibians have acknowledged the change in their lifestyle and the willingness to adjust their spending more cautiously. I took the liberty to utilise WEB's platform to support the new businesses in tough times. I could have selected an established venue but instead have cautiously made the decision to aid those serving a great purpose as a ripple effect,” Chase said.
Tomas Iindji made these remarks at the FNB-supported fourth Confidénte Newspaper and Namibia Chamber of Commerce and Industry (NCCI) joint business engagement held at the Ongwediva Annual Trade Affair on Wednesday evening.
“There are structural reasons for this, notably they are more opaque and their corporate capabilities more difficult to assess because their financial statements are less informative and their credit histories are usually shorter,” Iindji told those present.
These characteristics, Iindji said, were compounded by fixed costs in external assessment and monitoring, which led to high transaction costs for the SMEs.
He said credit sources for small firms tended to dry up more rapidly than for large companies during an economic downturn, thereby disrupting their business and investment activities to a greater extent.
This, Iindji explained, was the case during the crisis in the northern area, where creditworthiness and the financial health of SMEs had deteriorated more sharply than those of large firms.
“The protracted period of weak economic conditions has exacerbated the asymmetric information challenges of SMEs,” he said.
Iindji, who is also the chairperson of the NCCI in northern Namibia, noted the need for the creation of a market for assets-backed securities.
Entrepreneurs who spoke during the engagement expressed concern over the commercial banks' and other financial institutions' reluctance to grant loans to emerging entrepreneurs, arguing that such tendencies prevented business growth in the SME sector.
The venue, in the tradition of the Ongwediva Trade Fair Centre and the Windhoek showgrounds, will be constructed on a piece of land adjacent to the site of the regional government office park.
The special adviser to the regional governor, Pio Nganate, told Nampa that the Omaheke Trade Fair committee had in principle secured the land from the Gobabis town council.
Nganate, who doubles as chairperson for the Omaheke Trade Fair, said the committee was finalising documentation and other logistics pertaining to the transaction with the town council.
“We want to have a single venue that will host the trade fair yearly, and also other related activities during the year to avoid it becoming dormant,” he said.
Nganate said the envisaged trade fair centre would make provision for the hosting of various small businesses, especially those involved in small-scale manufacturing, to allow them to trade throughout the year.
Nganate explained that despite government efforts to encourage the setting up of manufacturing enterprises, such businesses have not been forthcoming in Omaheke.
“We want to assist those who can do things with their own hands so that they in turn can employ others and that way we uplift the living standards of many people in the region,” he said.
Plans are also under way to use the centre for the auctioning of livestock, especially those of the region's communal farmers.
He said such a process would include trading directly with the buyer of the livestock, thereby eliminating the costly role of the middle-man in the form of a livestock sales agent.
“We have seen livestock of our farmers fetching good prices at auctions, but such profits do not benefit them as they are gulped up by these middlemen,” Nganate said.
No date has been set for construction to begin.
However, she said the tariffs would have to be renegotiated and couldn't be more than 77c per KWh, as the current prices were unaffordable for Eskom.
“All future programmes to be put on hold until a proper review is done and to allow the IEP (Integrated Energy Plan) and IRP (Integrated Resource Plan) to be concluded that will give indication of the capacity we need,” she said.
This process is expected to be finalised before the 2018 budget tabled by finance minister Malusi Gigaba.
There are 26 preferred bidders across a range of technologies, none of which has reached financial close due to Eskom's refusal to sign further PPAs.
President Jacob Zuma said the PPAs would be signed shortly after his State of the Nation address in early 2017, but a cabinet reshuffle delayed that process.
Last week, the South African Wind Energy Association (Sawea) welcomed Kubayi's announcement on the progress in unlocking the PPAs.
Sawea CEO Brenda Martin told Fin24 that the association welcomed Kubayi's confirmation that clarity would soon be provided on the date for the conclusion of duly procured outstanding power purchase agreements.
“The thousands of South Africans employed by the industry, the many rural communities surrounding current and prospective wind farms that have been waiting for almost two years for this impasse to be resolved, will be appreciative of the leadership the minister demonstrates in this area,” she said.
“Concluding the outstanding PPAs will ensure that the necessary jobs, investments and developmental objectives intended by the Department of Energy when it initiated SA's utility scale renewable programme, can be realised.”
Heymans is one of Namibia's elite cyclists whom many youngsters look up to, as he has paved the way for many cyclists in the country.
Heymans says cycling teaches children social skills, camaraderie and many more life skills that everybody needs in life.
He says the Namibia Cycling Federation's involvement in the #Festival is important as it helps the federation to showcase cycling to the public, but more specifically to the youth.
“We are therefore always very thankful for the opportunities that are given to us to showcase our beautiful sport.”
Heymans started cycling as a young boy and took every opportunity that came his way to build a career around cycling.
“Cycling taught me a lot of things, but the most important thing is that without hard work, nothing happens. If you want things to happen in your life, then make them happen. Do not wait for somebody else to make them happen for you. It is your life, so work for it and makes it happen.”
He advises anyone who wants to consider cycling as a career to put effort into training.
“Like all other sports, cycling needs hours and hours of training. With no input there will be no outcome. Cycling is not a career that you can decide on like becoming a doctor. It is something, like all other sports, where you need to have talent. So if you have the talent, if you are a person that will train for hours by yourself, be prepared to make a lot of sacrifices, then cycling can work for you.”
He acknowledges that there is money in the sport – at the very top.
“There is money in everything you do, you must just open your eyes and grab the opportunities that are in front of you and go for it. Yes, everything has its problems, and sometimes more downs than ups, but working hard for what you want and carrying on and never giving up should be the motto for everybody who wants to make it in life.
“Only very few people can win the top races in the world, where there is a lot of money, but it is not only the prize money that is in the sport, there is more to it than prize money and out of the sport come a lot of other careers.”
The National Schools Sport Union (NSSU) coordinator, Solly Duiker, will also give a motivational speech at the #Festival.
The visitors went out guns blazing in the first minutes of the game, testing the home side's defence. They received an early penalty from scrumhalf Sonwabo Majola after Adel de Klerk was sent to the sin bin in the 10th minute.
The Welwitschias did not allow that to deter them and hit back within minutes with the first try of the game from number 8 Christo van der Merwe, which was converted by flyhalf Theuns Kotze, who had brought the right boots to the match.
But the visiting side came back with an excellent run by right wing Riaan Arends who dived over in the corner to help his side regain the lead.
Majola, their scrumhalf, was not as lucky as Kotze and missed the conversion from a tight angle, much to the disappointment of his teammates who were working hard to play catch-up to Namibia.
The Welwitschias again gained momentum when De Klerk returned to the field and helped his side with a build-up which led to them scoring another try.
Kotze was again accurate with his conversion and then proceeded to add three penalties to help his side to a comfortable 15-point advantage at the break as they enjoyed a 23-8 lead, much to the enjoyment of the supporters who had gathered to cheer their team on.
In the second half of the match, flank Rohan Kitshoff ran through the EP Kings defence and scored a try, allowing Kotze yet another simple job of converting the try.
Namibia's Thomasau Forbes stormed through the visitors' defence moments later, and again scored a try, making their job for the day very easy.
Zingisa April responded with another try for EP Kings beat several defenders with some great footwork after the kick-off to score, giving his team some momentum. Majola converted the try to reduce the lead to 22 points.
The visitors attempted to come back but the Welwitschias held on to their lead.
After the match their captain Andile Joh said that the Namibian side played a more physical game and used their height advantage well. “We tried to play a high-tempo game but could not keep up. We have very young players in the team, unlike our opponents,” he said.
Rohan Kitschoff, the captain of the local side, said they were ecstatic with the win. “We knew that it would not be an easy win. We are a developing team and the win is very great for our morale. We will again work hard next weekend,” he said.
Lesley Klim of the Windhoek Draught Welwitschias received the Man of the Match award.
The victory lifts the Welwitschias up to fourth spot with seven points while EP Kings remain rock-bottom on two points.
Namibia will face Hino Valke on 9 September at the Hage Geingob Stadium.