Leaders need to be told the truth

February 4, 2018, 2:00 pm

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Leaders need to be told the truth The firing last week of sport, youth and national service minister Jerry Ekandjo and home affairs and immigration minister Pendukeni Iivula-Ithana came as no surprise, considering that President Hage Geingob said late last year that 2018 would be 'the year of reckoning'.

In the case of Ekandjo and Iivula-Ithana, they were at the forefront of a Swapo faction that had contested against Geingob and his running mates for the party's top posts at an elective congress in November.

It is obviously the head of state's prerogative to hire and fire anyone he wishes in his cabinet, and as he continues to navigate the economic headwinds bashing the country, he should be given a chance to tailor his executive to achieve the outcomes we all need as a nation.

The social media debates in the aftermath of the cabinet dismissals last week were predictable and centred around either attacking or defending the president.

What was distinctively missing was a debate about what role dissent can and must play in Namibia's political discourse. If a minister or ministers, for example, use an intra-party campaigning platform to attack a sitting president and his policies, is it justifiable to use this as a reason for firing them?

And, at what point does this kind of dissent or disagreement with the current path being taking by a president and his cabinet, of which you are a part, become worthy of retributive practices?

There are no easy answers to these questions, but what can be said is that Africa is littered with the political graves of those leaders who refused to listen to entertain or listen to dissenting voices, and rather surrounded themselves with yes-men and yes-women, who told them exactly what they wanted to hear.

In the Namibian context, we need to cultivate and nurture dissent that is uttered in the interest of the nation and overcoming the challenges we face.

Leaders need to be challenged on issues and they also need to be able to separate the message from the messenger, as hard truths are often even harder to swallow.

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Nafpu welcomes Ekandjo sacking

February 4, 2018, 2:00 pm

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Nafpu welcomes Ekandjo sacking The Namibia Football Players Union (Nafpu) has welcomed President Hage Geingob's decision last Thursday to relieve Jerry Ekandjo of his duties as minister of sport, youth and national service.

At a press conference in the capital, Nafpu president Sylvester 'Lolo' Goraseb said the decision to fire Ekandjo will improve the management of sport in Namibia.

“We congratulate the president for prioritising change and transformation. By letting go of Ekandjo, Geingob has responded to our cry for change and transformation. We look forward to a young, vibrant leadership at the ministry, to lead sport transformation,” Goraseb said.

Nafpu secretary-general Olsen Kahiriri agreed with Goraseb, saying that the outgoing minister was a stumbling block that was hindering the progress of sport in the country.

“If we start cleaning from top, I think we will achieve our goals of making sure that sport is run properly. A healthy nation will only come about if leaders take good decisions, when it comes to sport's administration. We have trust in the fact that the president will make a wise appointment,” Kahiriri said.

He also said that if Namibia invests in sport, many lives will be changed, and this will mean the economy of the country will also improve through the exporting of talent.

Ekandjo was relieved of his duties last week, together with home affairs and immigration minister Pendukeni Iivula-Ithana, just shy of three years after being appointed into their positions.

NAMPA

FIFA workshop ends

February 4, 2018, 2:00 pm

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FIFA workshop endsShipanga shares experiences with other experts A FIFA seminar that took place last week in Qatar, and which ended this past weekend, included a sole Namibian representative. Former women's national team football coach Jacqueline Shipanga has attended a FIFA Technical Experts' Worksop in Doha, Qatar.

Shipanga exchanged experiences with fellow experts from across the world, in various areas of football.

The workshop started on 30 January ended this past Friday, with Shipanga being Namibia's only representative.

The Namibian gained experience from other experts, including women's football technical consultants, confederation technical directors, coaching instructors, technical directors and elite, grassroots and youth football experts.

The course was led by FIFA technical director Steven Martens and the FIFA head of technical development services Jurg Nepfer.

The seminar was aimed at informing the participants about the new strategy and philosophy for technical capacity building, while enlightening them on updates and overviews of the new FIFA structure, as well as its technical development set up.

It also looked at the roles and responsibilities of FIFA experts and instructors.

The workshop also focused on the 'Forward' development programme.

“For the sake of sports and the vision of it reaching its potential in every nation, without barriers, the programme intends to improve the way associations develop and support football across the globe,” FIFA officials said.

By using the expertise gained from this seminar, Shipanga said, Namibian women's football will once again benefit from FIFA Academy pilot programmes, thereby leading to an enhancement in the development of women's football at a youth level, while simultaneously strengthening the existing developmental structures, such as the Namibia Football Association (NFA) Girls' Centre.

Jesse Jackson Kauraisa

Rukoro mocks genocide envoy

February 4, 2018, 2:00 pm

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Rukoro mocks genocide envoyCalls Ngavirue a 'clown' At a press briefing, Ovaherero paramount chief Vekuii Rukoro questioned the legitimacy of the reparation talks between the governments. The paramount chief of the Ovaherero people, Vekuii Rukoro, has called Namibia's special envoy on genocide, Zed Ngavirue, a “clown” for initiating a range of consultations with affected communities of the Nama and Ovaherero 1904-08 genocide.

According to Rukoro, Ngavirue is using the taxpayer's money to “peddle German propaganda” among the Nama people, who are mourning their late chief Dawid Frederick.

Ngavirue is currently conducting an outreach programme with affected communities.

When contacted for comment, Ngavirue confirmed that very few members of the affected communities attended the consultations. With regard to the “clown” remark, he told Namibian Sun: “It is really not something I should comment on.

“We are not in a political game. I do not see why we should be fighting amongst ourselves.”

Rukoro on Thursday briefed the media on his delegation's attendance of the New York court proceedings, where the Nama and Ovaherero are suing Germany for the genocide.

Rukoro said that Germany could longer fool the world, adding that some ordinary German citizens had financed the air tickets of some delegates to attend the New York court proceedings last Thursday.

According to him they did this because they were “ashamed of what their government is doing and has done to our people”.

Rukoro further accused Germany of arrogance and of leading the Namibian government by the nose.

“Who is in charge? They are already dictating to our government what the so-called reconciliation package should be.

“Even on a German cover letter, they did not even have the decency to put it on ordinary paper, but on a German government letterhead. For how long will they continue with this imperialism?”

Rukoro also rejected comparisons between Jewish Holocaust survivors and the descendants of Nama and Ovaherero genocide victims, who are said to be “indirect victims”.

He said he regarded himself a “direct victim” because the genocide had a direct impact on him.

“And so it will impact my children and their children.

“There are farms that are now in the hands of Germans, which should be ours,” he said.

JEMIMA BEUKES

Water leaks destroy Namibian history

February 4, 2018, 2:00 pm

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Water leaks destroy Namibian history The National Library and National Archives in Windhoek are closed to the public until further notice because of emergency plumbing repairs.

According to the ministry of education, the repairs started on 8 January.

In August 2017, Namibian Sun published an article about the lack of action from top management after staff had repeatedly complained about the deteriorating condition of the building.

A spokesperson for the education ministry, Absalom Absalom, confirmed that the work was ongoing, despite media reports to the contrary.

“Obviously major renovations are needed and we are ready for those, it is a matter of a budget to be supplied.

But for now, the repairs are ongoing,” he said.

Martha Nakanyala, acting chief at the National Archives, earlier said that repeated pipe bursts had damaged original materials documenting Namibian history.

“I started working here in 2002 until 2013.

I came back last year [2016] and the situation has not improved. Since 2007, we have lodged complaints of the faulty pipes that continue to leak and yet, no action has been taken,” she said at the time. Staff also complained about having to run around with buckets to stop the leaking water from ruining the historic materials.

The building holds about 5 600 maps, 61 000 photographs, 2 000 audio cassettes, 450 films and a complete collection of all local newspapers from 1897 to 1962.

Letters and reports dating back to German and South African rule can also be found at the archives. The documents are originals and no duplicates are available.

The ministry apologised for any inconvenience caused and “ensured stakeholders they are working tirelessly to ensure that the library and the archives are reopened to the public soon.”

The National Archives of Namibia collects and preserves the nation's history and unpublished documentary heritage and provides training in records management to all government offices.

It shares a building with the National Library of Namibia.

TUNOHOLE MUNGOBA

RCC not yet under judicial management

February 4, 2018, 2:00 pm

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RCC not yet under judicial management The minister of public enterprises, Leon Jooste, says the status of the Roads Contractor Company (RCC) remains unchanged and it has not yet been placed under judicial management.

Judicial management is a process to rescue a distressed company, as a going concern, through a reconstruction plan.

Jooste in September last year announced that the Cabinet Committee on Overall Policy and Priorities (CCOPP) had decided to apply to the High Court to have the beleaguered RCC placed under judicial management.

On Thursday, however, Jooste said before that could be done, the RCC Judicial Management Bill had to be passed by parliament.

The RCC Act stipulates that the company may only be placed under judicial management or liquated through an Act of parliament.

Once the Act is promulgated, the government will approach the High Court with its application.

The draft bill has been finalised and will be tabled by minister of works and transport Alpheus !Naruseb, who is the shareholder minister under current legislation.

Part of the CCOPP's decision last year was to pay the basic salaries of the 393 RCC employees in the meantime. This costs the government N$7 million per month.

The board chaired by Fritz Jacobs is still intact.



New PS

Meanwhile, the public enterprises ministry has appointed Sophia Kasheeta as its interim permanent secretary, after the former PS, Frans Tsheehama, retired in December.

Kasheeta will remain in that position until a full-time PS is appointed by the office of the prime minister.

She was the deputy PS in the ministry of agriculture, water and forestry.

CATHERINE SASMAN

Company news in brief

February 4, 2018, 2:00 pm

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Company news in brief Apple's user base grows

In its quarterly earnings report on Thursday, Apple Inc gave the first update in two years on what it calls its active installed base, the number of major products such as iPhones, iPads and Macs in use in the world. Apple said the base expanded 30% from two years ago to 1.3 billion.

That increase should have been seen as positive because Apple aims to become less dependent on selling iPhones and shift to selling its existing customers services like Apple Music or add-on devices like the Apple Watch or AirPods.

But analysts voiced skepticism. Apple's best-selling product, the iPhone, has seen relatively flat unit sales over the same two-year period. On Apple's earnings conference call, Bernstein analyst Toni Sacconaghi said that the combination of trends implies users are hanging on to their devices longer, and he asked Apple Chief Executive Officer Tim Cook whether investors should be worried about that.

Cook responded that it was up to investors to decide what to focus on, but said he was comfortable with customers buying used iPhones. – Nampa/Reuters

Visa profit beats on higher holiday season volumes

Visa Inc reported a better-than-expected quarterly profit, joining smaller rival Mastercard, as a solid holiday shopping season boosted transactions on its payment network.

Net income rose to US$2.52 billion in the quarter ended Dec. 31 from US$2.07 billion a year earlier, while earnings per Class A share rose to US$1.07 from 86 cents.

Total operating revenue rose 9% to US$4.86 billion, reflecting growth in payments volume and processed transactions, while operating expenses rose 12.8% to US$1.54 billion.

Payment volumes rose about 10% to US$1.93 trillion, on a constant US dollar basis, with the United States accounting for about 43.3% of the total.

Mastercard reported a 20.2% jump in quarterly revenue. – Nampa/Reuters

Airbnb says no listing in 2018

Short-term home rental service Airbnb Inc will not go public this year, the company said, and it also announced a change in executive leadership with the loss of its chief financial officer and appointment of its first chief operating officer.

San Francisco-based Airbnb, a service where homeowners and renters can post their house, room or apartment for rent, had been on a list of anticipated initial public offerings this year.

CEO Brian Chesky refuted that timeline, and said in a statement that "we're working on getting ready to go public and we will make decisions about going public on our own timetable."

Founded in 2008, Airbnb is in nearly 200 countries and valued by private investors at US$31 billion. The company is profitable and has a US$5.5-billion balance sheet, Chesky said. – Nampa/Reuters

AstraZeneca flags return to drug sales growth

AstraZeneca expects to increase 2018 drug sales at a low single-digit percentage rate as new medicines win market share and the group puts patent losses behind it, although the need to invest in launches will weigh on profit.

Product sales fell 5% in 2017, the company said on Friday.

AstraZeneca has been through the drug industry's biggest ever cliff of patent expiries in recent years, which wiped out more than half of its sales, but CEO Pascal Soriot said is was "steadily turning a corner".

AstraZeneca has some notable new product successes recently, with oncology pills Tagrisso and Lynparza both doing well and progress in other areas, including novel treatments for lung disorders.

Its heart drug Brilinta and Farxiga for diabetes have also both just breached the US$1 billion annual sales mark. – Nampa/Reuters

Deutsche Bank: third consecutive annual loss

Deutsche Bank on Friday posted its third consecutive annual loss in 2017, taking a hit from challenging markets, a drop in investment bank revenue and a US tax reform, after a difficult fourth quarter.

It said the integration with Postbank was "on schedule" and that it would partially float its asset management unit "in the earliest available window".

Still, the bank's executives have warned that a recovery would be a long, hard slog that would take years, not quarters.

It reported a 2017 loss of 497 million euros (US$621 million), worse than the loss of 290 million forecast by nine banks and brokerages polled by Reuters. – Nampa/Reuters

Freyer wins cycling championship

February 4, 2018, 2:00 pm

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Freyer wins cycling championship Cyclist Martin Freyer won the elite men Pupkewitz Megabuild NCF National Road Championship over 175km at Caren Park, Brakwater on Sunday.

Freyer was followed by Drikus Coetzee, who came in second, while Dan Craven finished third.

In the women elite race, Vera Adrian paddled her way to first place, with veteran Michele Vorster coming in second.

Irene Steyn finished the race in third place and took home the bronze medal.

In the individual time trial race for men over 42km, Coetzee finished first in a time of 55:18s, while Freyer came in second in 56:47s and Andre de Klerk clocked 58:30s in third place.

Michelle Doman finished first in the women's 22km time trial in 33:00s, while Steyn came in second in 33:39s and Adrian in third place in a time of 33:48s.

Jesse Jackson Kauraisa

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Uushona gets shot at redemption

February 4, 2018, 2:00 pm

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Uushona gets shot at redemptionFaces ultimate test in England He has been knockout out and laughed at, but Tyson Uushona refuses to be defeated. After having gone through so many difficult moments in life, Namibian welterweight boxer Bethuel 'Tyson' Uushona now awaits his redemption day.

The Namibian will face Britain's Frankie Gavin for the International Boxing Organisation (IBO) welterweight world title on 23 February, and Uushona says he has waited for a long time to fight for this particular belt.

The fight will take place in Birmingham, England.

About four years ago, Uushona was classified as one of Namibia's greatest prospects for boxing world titles.

This came as no surprise, as many regarded him as someone who had endeared himself to the public, as a cool and calculated puncher during his early career.

However, Uushona, who was born in Windhoek on 9 March 1983, nearly saw his promising career come to an abrupt end, when lost a bout that would have set him up for a mandatory title fight against Floyd Mayweather.

Uushona wishes he could forget what happened on 4 October 2014, when he lost to Dario Fabian Pucheta at the Ramatex complex in Katutura.

Had he won that fight, he would have fought against the undefeated Mayweather, who has since retired from the sport.

Things turned ugly for Uushona after his loss to Pucheta.

Uushona was stripped of his WBO Africa welterweight title, and in the process lost his chance to fight for the WBO welterweight title against Mayweather.

The three years following his defeat to Pucheta proved tough, after Uushona lost several bouts, which resulted in him parting ways with his former promoter Nestor Tobias.

“Things have never been easy for me, but I do believe it is about time things go my way.

“I have endured pain and humiliation, but now I feel my time to be among Namibia's world title holders has arrived,” Uushona said.

The boxer has now found comfort at Salute Boxing Academy, which he calls his new home.

Uushona will go into the fight against Gavin with a record of 36 wins, five losses and one draw in 42 fights, while the British boxer boasts a record of 25 wins and three losses in 28 professional fights.

Jesse Jackson Kauraisa

SA's Redecker ready for strong season

February 4, 2018, 2:00 pm

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SA's Redecker ready for strong seasonHopes to forget last year She's one of two women's mountain bikers, the other being Mariske Strauss, who competed for SA at the last Games in Glasgow, four years ago. Last year was tough going for SA mountain biker Cherie Redecker as she battled to find a slot on a professional team.

This year, though, sees her in a far happier place, having being signed up by the German-based Head Ciclo XC team. Making her even happier is the fact that she's part of the SA team for the Gold Coast 2018 Commonwealth Games in Australia.

“Last season was a challenging but rewarding year, racing as a privateer,” said Redecker. “I didn't expect the move to Germany to be so hard.

“Nonetheless I had one of my best seasons to date, especially at the European races. With a podium (third) overall at the MTB Bundesliga Series, a second place finish at the Bundesliga race in Gedern, and a 32nd at the World Cup in Albstadt.

“Through my racing as a privateer I was lucky to meet Thomas Schroder from Head Ciclo XC Team early in the 2017 season. Even though he could not offer me a spot on the team for that year, he still helped Heiko and myself at races. Building a friendship and knowing how well Thomas runs the team, it was only natural to join the team for 2018.

“HCXC are an experienced team that has a lot of emphasis on team spirit. The other riders are Silas Graf and Nina Benz in the U23 category and Emma Blomeke in the junior category. The main focus for the team will be the Bundesliga Series, World Cups for the U23 & Elites riders and the junior series for Emma.”

Redecker, who will turn 29, just after the Gold Coast games is upbeat, and rightly so.

“Joining a team for the season has given me a new sense of focus and drive. With the help from my coach, John Wakefield and Next Level Fitness, I feel this has been my best pre-season training to date.

“Now I'm excited to come back to South Africa and race the World Cup in Stellenbosch. I have many great memories racing and training on the Coetzenburg mountain, and the best memory is taking the South African XCO Championship title there in 2015.

“Of course the South African Championship title is high on the list for this year as well as the World Championships in Lenzerheide and Commonwealth Games.

“I can't believe it's already been a year since Heiko and I took up the adventure and moved to Germany. One of the biggest challenges is not being able to communicate properly in German, although that will change overtime.

“It's compulsory for me to take part in the German Integration language course which should end in June with me passing the B1 exam and an orientation course.

The course does mean I'm unable to do some training in warmer weather and I'll miss some races that I was hoping to do but in the end it is finding a balance and making everything work. Being more settled in Germany and being part of the Head Ciclo XC Team, I have a good feeling for the racing season.

For his part, Schroder said: 'With Cherie the team gained a great personality. It is an absolute win-win situation for everyone, especially for the younger riders who will profit from her experience. With the support of the team we want to provide Cherie with the surroundings she requires to fulfill her potential. The values of our new athlete are shared by the team 100%.'

“Of course we would love to have the South African champions jersey back on Cherie's shoulders and therefore in the team. She's definitely got what it takes to get the 'stripes' back.”

NAMPA/ANA

Rosh Pinah, MUN ink agreement

February 4, 2018, 2:00 pm

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Rosh Pinah, MUN ink agreement Rosh Pinah Zinc Corporation of Namibia has entered into a labour agreement with the Mineworkers' Union of Namibia (MUN) for the next three years.

The agreement will serve for 2018, 2019 and 2020 and stipulates a once-off bonus of N$8 750 after taxes, to be paid to employees in bargaining units in appreciation of the three-year deal.

The agreement also states that the basic pay of employees in salary Grades 8 and 4.1 will be adjusted by 9% in 2018, while the basic pay of these grades will be adjusted by 7% in 2019, and by 6% in 2020.

Rosh Pinah assured that the three-year agreement is not a “trick intended to retrench employees indirectly” and states that there are no planned retrenchments envisaged.

The agreement also promises the adjustment of long–service awards such as N$20 000 for 40 years, which has been increased from N$4 500.

Workers working for 35 years will now be awarded N$17 500 for long service instead of the prior payment of N$4 000, while those that worked for 30 years will receive N$15 000 instead of N$3 500.

Through this agreement the MUN said it undertook that the union and its members will support management with improvement initiatives that will ensure the company remains competitive in the global zinc market.

These include, but are not limited to, the safety and health at the mine, the improvement of productivity, cost-saving initiatives and innovation.

The agreement also indicates that all other conditions of employment not specifically provided for in the agreement will remain unchanged for the duration of the agreement.

Rosh Pinah's spokesperson Kondja Kaulinge said his company is happy with this agreement.

“Trevali Mining and the Rosh Pinah Zinc Corporation are proud to be operating in Namibia, a country with a rich and proud mining history and culture.

We are happy with the cooperation achieved in negotiations with the Mineworkers' Union of Namibia in reaching a three-year labour agreement for employees at the Rosh Pinah zinc mine.”

STAFF REPORTER

Kunene planting in limbo

February 4, 2018, 2:00 pm

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Kunene planting in limboCapricious, erratic rainfall The farmers in the Kunene are concerned by delayed rainfall as well as patchy, light falls received with long intervals of dry weather. Farmers in the Kunene Region are under severe pressure as the region has not received rainfall since the beginning of December. The region has repeatedly experienced prolonged droughts which have taken their toll on grazing and groundwater resources.

Over the weekend the chairperson of the regional council, Julius Kaujova, told Namibian Sun that the last time the region received showers was at the beginning of December, but the rainfall was scattered and capricious. There was a little rain early in January but that too, was very light. He said that thus far the situation is not yet critical for livestock farmers, adding that even though the grass has not germinated yet, trees have ample leaves to sustain animals. For crop producers, however, things are becoming critical as they have not yet started planting.

“Effects of climate change are real in our region and we have experienced these for the past three years. We always used to receive very good rainfall during the month of December, but things have changed. We are already in February and there has been no rain,” Kaujova said.

He said crop farmers are being assisted through an organisation, Conservation Agriculture Namibia, that helps farmers with improved crop production. However, the farmers only started ploughing their fields last week after the first rains fell.

“Our early land preparation starts in November, but since there was no sign of rain, farmers did not want to plough. To date it is still dry and the farmers cannot do anything,” he said.

Kaujova said that though the 2017 season was late it was better than that of 2016. He said there are still areas of good pasture for the livestock, and trees throughout the region are also looking good, although he said there are limiting factors for farmers to access areas with better pasture.

“The problem is the lions we have in the region. Places where there is better grazing there are lions and it is a great risk for farmers to take their livestock to those areas,” he said.

He also added that farmers in the region have no market to sell their livestock since the abattoirs closed in the Northern Communal Areas (NCA). He said for now farmers only trade in the informal market, which he said does not always give value for money.

Zakuruka Producers' Cooperative, a regional livestock and crop marketing association, helps farmers in the region to sell their livestock and produce through auctions, but they said the distance is problematic.

They said they only operate in Orumana where farmers are expected to take their livestock or produce, but due to the long distances they only end up reaching a very small group of farmers in the region.





ILENI NANDJATO

Capitec dismisses Benguela report

February 4, 2018, 2:00 pm

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Capitec dismisses Benguela report JOHANNESBURG - South African lender Capitec Bank Holdings dismissed Benguela Global Fund Managers' letter on Thursday, which had raised concerns about the lender's business practices.

Benguela wrote to Capitec last month, questioning the lender's policy on rescheduling problem loans, the South African fund manager said in a statement to its clients seen by Reuters on Wednesday.

Meanwhile, South Africa's government has asked the financial services regulator to consider launching a market abuse probe into Viceroy Research after its report on Capitec sparked a sell-off in the stock, it said on Thursday.

The National Treasury also asked the Financial Services Board (FSB) to alert relevant overseas regulators, including in the United States and Britain, to consider whether the US research firm was regulated appropriately, it said in a statement.

Viceroy Research criticised lending practices at the bank on Tuesday, saying it understated defaults, triggering a brief slump of 25% in its shares. Capitec rejected the allegations, saying its corporate governance was strong and its disclosures were transparent.

The FSB could not be immediately reached for comment.

Founder Fraser Perring said Viceroy welcomed any investigation, and that it stood by the contents of its original report. – Nampa/Reuters

Capital gains tax: What you need to know

February 4, 2018, 2:00 pm

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Capital gains tax: What you need to know There have been talks about the introduction of capital gains tax (CGT) in Namibia for a number of years. Nothing concrete has been confirmed to date and it is expected that further research on the matter would first need to be done.

Nevertheless, here are some of the basics of CGT.

CGT is levied around the world in different manners, but in essence CGT forms part of the income tax system. CGT was introduced as far back as 1965 in the United Kingdom.

One of the disadvantages of capital gains tax is the administrative burden thereof as it involves an additional tax that is levied. The basis of the calculation can often be technical in nature, making it important to have the appropriate skills in place to enforce the legislation.

One of the basic rules of income tax is that profits made when disposing of assets are not taxable as it is seen to be capital in nature (i.e. not selling with the intention in a scheme of making a profit).

The basis of numerous court cases over the years have dealt with the intention of the taxpayer in order to determine what is capital in nature and what is not (i.e. thus subject to tax). CGT in essence takes away the subjectivity of measuring the intention of the taxpayer, and makes the treatment of capital gains more aligned and enforceable.

Bear in mind

CGT usually relates to the profit made on the disposal of assets. Bear in mind that assets are things you acquire with the following purpose:

* Using the asset to generate income (e.g. plant and machinery, delivery vehicles etc)

* Obtaining growth in the value (e.g. property, shares, rights to mine etc)

The growth in the assets is referred to as capital growth, as it represents growth in the capital you invested. Where the value of the asset increased and you sell the asset this will give rise to a capital gain. Where the value has decreased (for e.g. in the recent Steinhoff incident) you will incur a capital loss when you sell the shares.

Once a decision has been taken to dispose of asset by way of sale, donation etc, the provisions of CGT gets triggered.

A few key elements in CGT are as follows:

Proceeds: This relates to the amount that the asset was sold for. Often you will find provisions that state that where the proceeds received are less than the market value, the proceeds are deemed to be equal to the market value of the asset. This is to counter arrangements where assets are sold at low values in order to minimise tax liabilities.

Base cost: This is the cost of the asset that will be deducted from the proceeds in order to derive at the profit/loss. This is often the valuation at a certain date, or the actual cost price on acquisition of the asset.

The effective tax rate of CGT is usually lower than the normal corporate tax rate, as the full value of the capital gains are not included in taxable income.

Consider the following statement: “There is no obvious reason why a person who derives N$100 000 in interest income should be taxed differently to a person who derives N$100 000 in capital gains.”

This is the dilemma faced with CGT and the fairness thereof. The question is whether a person has in fact enjoyed the benefit of an increase in net wealth? Where this is the case, there is an argument for CGT.

There are still a number of other complex areas to be considered in CGT, for e.g. exemptions, determining base costs, roll-over relief etc.

For now, we do not have to worry too much as the introduction of capital gains tax has yet to be determined and a lot of debate on the topic will still take place.

*Johan Nel is a partner: corporate tax service at PwC Namibia. His column will be published in Market Watch bi-monthly on a Monday.

Poverty eradication ministry targets renewable energy by 2019

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Poverty eradication ministry targets renewable energy by 2019Affordability key The ministry is seeking funding from the international initiative. We cannot eradicate poverty while we are dragging our feet when it comes to climate change. – Zephania Kameeta, Minister: Poverty eradication The ministry of poverty eradication and social welfare has committed itself to supplying affordable renewable energy to Namibians in the low income sector by 2019.

This was revealed by the minister of poverty eradication and social welfare, Zephania Kameeta, at a meeting held with representatives of One Climate Fund South Africa in Windhoek on Wednesday.

The ministry is seeking funding from the international initiative.

Kameeta said poverty cannot not be eradicated without addressing the impact of climate change on environment and sustainability.

He said the implementation plan on wealth redistribution and poverty eradication includes cheap energy resources such as solar power units and bio-mass energy.

The minister said this target can be achieved by raising awareness of renewable energy technology and demand-side management.

“Namibia needs to move faster on climate change and our role is to coordinate all these activities with the Ministry of Mines and Energy, as well as other line ministries,” said Kameeta.

He said if fast actions are not implemented on climate change, Namibia will soon see the increase of internal migrants due to drought in certain parts of the country, accompanied by social unrest.

“We cannot eradicate poverty while we are dragging our feet when it comes to climate change. Poverty eradication and practical constructive action against climate change must go hand in hand,” he said.

The one-day meeting was attended by the minster of mines and energy, Obeth Kandjoze, the minster of environment and tourism, Pohamba Shifeta, representatives of the Office of the Attorney-General and delegates from Germany and South Africa. - Nampa

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Grisly attack on 'vulnerable' elderly

February 4, 2018, 2:00 pm

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Grisly attack on 'vulnerable' elderly A farmer has reportedly been shot, execution-style, with his own rifle while his wife was strangled to death with shoelaces by three attackers on their farm Lindeshof in the Koës district in the //Karas Region.

The couple has been identified as 79-year-old Giel and 80-year-old Sarie Botma.

The attackers were arrested by the //Karas police and are expected to appear in the Keetmanshoop Magistrate's Court today.

//Karas regional police commander, Commissioner Rudolf Isaak confirmed the incident yesterday and said the three have, to date, been charged with robbery with aggravated circumstances, theft and two charges of murder.

According to Isaak, the couple took their three farmworkers to Koës on Friday to attend a funeral during the weekend and were alone on the farm when they were attacked.

The suspects stole the farmer's single cab Hilux bakkie using it as a getaway car, along with his .22 rifle and two cameras.

Isaak strongly condemned this kind of attack on “peaceful” and “vulnerable” old people who “mean no harm” to anyone and said he appreciated the cooperation of neighbouring farmers and the entire community, enabling the police to arrest the culprits.

“This kind of thing is very painful. I would really advise people who have elderly parents or relatives to always keep an eye on them. It will also be good to keep big dogs at home; at least their barking can serve as a warning to people and keep these villains away. And if possible, please lock up when the sun sets,” he said.

Isaak added that it is not clear at this point whether the couple had children.

He added that an investigation into the murder is in full swing and noted that more charges may soon be added.

JEMIMA BEUKES

Nandi-Ndaitwah thankful for prayers

February 4, 2018, 2:00 pm

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Nandi-Ndaitwah thankful for prayers Deputy prime minister Netumbo Nandi-Ndaitwah has thanked Namibians for their prayers and well-wishes during the time she was hospitalised, following an accident that claimed the lives of two men.

Nandi-Ndaitwah was involved in an accident on 28 December 2017, after the vehicle she was travelling in was involved in a head-on collision between Tsumeb and Oshivelo in northern Namibia.

The minister told the media this past Friday that her staff had compiled a file full of well-wishes from Namibians, including those in the diaspora.

She assured Namibians that she is fine, despite suffering serious injuries to her chest that still sees her having difficulty breathing at times.

Relating what had happened to the media, Nandi-Ndaitwah recalled being fully conscious during the whole ordeal, until she was admitted in hospital.

According to her, she remembers closing her eyes and starting to sing a church hymn, before the accident occurred.

“I cannot remember exactly what happened, but when I realised that it was an accident, I called for someone to remove me from the vehicle. I remember it was very hot, so I asked for a mattress and someone brought me one. The only issue doctors picked up was the impact on my chest from the seatbelt I had on, which impacted my chest and ribs and almost collapsed my lungs,” she said.

The minister will return to official duty on 28 February.

She further extended her condolences to the families of the two men who had died in the crash.

JEMIMA BEUKES

Kai Rust not guilty of murder

February 4, 2018, 2:00 pm

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Kai Rust not guilty of murder Okahandja farmer Kai Rust, who shot and killed an alleged poacher at his father's farm in January 2016, was found guilty on a charge of culpable homicide instead of murder on Friday.

The 50-year-old Rust had entered not guilty pleas to a count of murder and three other charges of attempted murder at the start of his trial in the Regional Court in Katutura on 30 May 2017.

However, Rust was found not guilty on all three charges of attempted murder, after the prosecution could not prove beyond a reasonable doubt, the veracity of these charges.

In her ruling on Friday morning, Magistrate Alexis Diergaardt, after summing up the totality of the evidence placed before court, said Rust had no intention to kill when he fired the shots that claimed the life of the alleged poacher at his father's farm in the Okahandja area on 27 January 2016.

Rust returns to the Windhoek Regional Court on 16 February 2018 for the presentation of the pre-sentencing evidence by his privately-instructed defence lawyer, Jan Wessels, and public prosecutor Phillemon Nyau.

On 30 May 2017, charges of illegal possession of a firearm and ammunition, which he also faced initially, were withdrawn against him.

Rust was arrested on 27 January 2016, following a shooting incident that claimed the life of alleged poacher Andreas Ukandanga, 41, at his father's farm located north-east of Okahandja in the Otjozondjupa Region.

During the trial, Rust said the fatal shooting took place while he and a farmworker were investigating the barking of dogs near a cattle post. The farmer testified he did not see any person before he fired shots.

Rust said he found a dead dog and a partly skinned kudu at the scene and a dead man lying on the ground.

Police found four snares, a machete and a knife at the scene where the kudu was skinned.

The three attempted murder counts he was discharged of, relate to Rust firing shots at three other suspected poachers at the scene.

Rust remains free on bail of N$40 000, as per the agreement reached between his lawyer and the prosecution's representative in court on Friday.

NAMPA

Dungeon inquiry deferred

February 4, 2018, 2:00 pm

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Dungeon inquiry deferredPreparation of evidence to be finalised A number of churches that had earlier committed to supporting the inquiry have so far not been forthcoming with their support. The official commencement of the commission of inquiry into the Swapo dungeon saga has been postponed to complete the preparation of evidence, which according to Erica Beukes, has been hampered by a lack of legal assistance.

Also lacking, Beukes said, is financial and other support from a wide range of church groups and other institutions and organisations, so far approached for assistance.

“One would have expected more assistance. This is a matter that affects the entire nation; it is history,” said Beukes, who is the chairperson of the joint committee of the Committee of Parents and the Truth and Justice Commission, the initiators of the inquiry.

Another blow to the inquiry was the sudden death of one of the driving forces and commissioners, Mirek Vodslon, who died of a heart attack in Berlin in December last year.

The inquiry was launched in September last year. The first phase was the collection of sworn statements and the official inquiry by commissioners was to have started on 1 February, as was proposed by the joint committee.

The inquiry is to investigate the whereabouts of thousands of people who have disappeared while in exile, the alleged torture and killing of exiles and the torture and detention of survivors, charges by the 1976 Swapo Youth League (SYL) against the then Swapo leadership, massacres and the prosecution of San communities in northern Namibia and southern Angola.

“We hope to start the process in due course, but preparations are in full force,” Beukes said.

She, however, added that while the joint committee had initiated the process, it will now have to hand it over to the commissioners headed by retired High Court Judge Chris Greenland, who is originally from Zimbabwe but is now based in South Africa. Beukes lamented the fact that a number of churches that earlier pledged their support for the inquiry have so far not been forthcoming with their support.

The joint committee has approached the Council of Churches of Namibia (CCN), the Lutheran World Federation (LWF), the World Council of Churches (WCC) and the Roman Catholic Church in Namibia, among others.

Beukes said support from other civil society groups and institutions have so far been “neither here nor there”.

“The response so far has been disappointing. This is a national issue; it is history,” Beukes said.

She said the public will be kept abreast of any progress.





Catherine Sasman

Chaves wins Tour

February 4, 2018, 2:00 pm

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Chaves wins Tour Colombia's Esteban Chaves, riding for the Mitchelton-Scott team, won Australia's Herald Sun Tour on Sunday.

Chaves, who finished second at the 2016 Giro d'Italia, joined reigning Tour de France and Vuelta a Espana champion Chris Froome and 2012 Tour de France winner Bradley Wiggins on the honour roll of Australia's oldest stage cycling race.

Chaves's 11th placing in Sunday's 152.1 km Gumbuya World stage four around Kinglake in Victoria was enough to secure the overall win.

He finished 41 seconds ahead of his nearest non-teammate challenger.

Sam Crome (Bennelong Swiss Wellness) took line honours in the bunch sprint, edging Cameron Meyer (Mitchelton-Scott) and Portuguese national champion Ruben Guerreiro (Trek-Segafredo) to secure the stage win.

“It was a tough day,” Chaves said. “This was the last chance for everyone. We raced from the beginning until the end.

“Congratulations to everyone… the level of racing in Australia is just unbelievable.”

Chaves's teammates Meyer and Damien Howson, both past winners rounded out the general classification top three with Mitchelton-Scott sweeping the overall podium for the first time in the history of the Herald Sun Tour.

“It is a really nice feeling to win here at our home race,” Chaves said.

“The team did really well thank you so much to all the guys for all they did for the general classification.

“One, two, three… it's unbelievable. This is a great start to the season.”



NAMPA/AFP