Articles on this Page
- 01/23/19--14:00: _AaZimbabwe ya teka ...
- 01/23/19--14:00: _Omuleli moPDM oshow...
- 01/23/19--14:00: _World-first multi-c...
- 01/23/19--14:00: _Kidnapper pleads gu...
- 01/23/19--14:00: _Trash irks Hakahana...
- 01/23/19--14:00: _Govt accused of dra...
- 01/23/19--14:00: _Company news in brief
- 01/23/19--14:00: _No free lunches in ...
- 01/23/19--14:00: _Finance accuses sec...
- 01/23/19--14:00: _Nam economy to ‘fla...
- 01/23/19--14:00: _Windhoek's capital ...
- 01/23/19--14:00: _Air Nam to engage g...
- 01/23/19--14:00: _Papermakers wait 7 ...
- 01/23/19--14:00: _Davos bankers try t...
- 01/23/19--14:00: _Opposition let
- 01/23/19--14:00: _Dump truck runs ove...
- 01/23/19--14:00: _Hungrier price mons...
- 01/23/19--14:00: _Health to defend N$...
- 01/23/19--14:00: _Ya Nangoloh loses v...
- 01/24/19--14:00: _Unam, Tigers make s...
- 01/23/19--14:00: AaZimbabwe ya teka omukumo
- 01/23/19--14:00: Omuleli moPDM oshowo yakwawo ye li po 400 ya ndjoina APP
- 01/23/19--14:00: World-first multi-collision airbag system introduced
- 01/23/19--14:00: Kidnapper pleads guilty
- 01/23/19--14:00: Trash irks Hakahana residents
- 01/23/19--14:00: Govt accused of dragging feet
- 01/23/19--14:00: Company news in brief
- 01/23/19--14:00: No free lunches in Swapo
- 01/23/19--14:00: Finance accuses security company of fraud
- 01/23/19--14:00: Nam economy to ‘flatten out’ in 2019
- 01/23/19--14:00: Windhoek's capital budget nosedives
- 01/23/19--14:00: Air Nam to engage government on attachment
- 01/23/19--14:00: Papermakers wait 7 years for machines
- 01/23/19--14:00: Davos bankers try to put brave face on gloomy outlook
- 01/23/19--14:00: Opposition let
- 01/23/19--14:00: Dump truck runs over boy
- 01/23/19--14:00: Hungrier price monster expected in 2019
- 01/23/19--14:00: Health to defend N$30m lawsuit
- 01/23/19--14:00: Ya Nangoloh loses veteran status fight
- 01/24/19--14:00: Unam, Tigers make silly mistakes
Aakwashigwana mboka oya popi kutya oshihwepo ya sile miilongo yopondje, okuyeleka nokushuna koshilongo shaandjawo.
Zimbabwe okwa yi miikolokosha yopapolotika iiwike ya piti sha landula sho omupresidende gwoshilongo shoka
Emmerson Mnangagwa a tseyitha e yo pombanda lyoondando dhomahooli.
Aakwashigwana oya yi momapandanda ye li ompinge nomagwedhelo gondando na osha etitha oyendji ya dhipagwe.
Omukwashigwana gumwe gwaZimbabwe ngoka ta lumbu moNamibia na okwa tindi okuholola uukwatya we, okwa popi kutya okwa uvu nayi omolwa ndopo lyiigwana yoSouthern African Development Community (SADC) oshowo African Union (AU) okwiidhopa moshikumungu shaashoka tashi ningwa moshilongo shawo.
“Tala kuSADC oshowo Iigwana yaAfrika, kaye na shoka taya ningi otatu si owala ngaaka. Oto ya kehe ethimbo huka to shanga kombinga yoonkalamwenyo dhetu ihe kape na shoka tashi ningwa po. Otwa teka omukumo, na otwa tokola okusa.”
Konima yomvula yimwe ya piti ngashiingeyi, muJanuari gwomvula yo 2018, omulumentu ngoka omunamimvo 36 , ngoka e li omuhingi gwombesa moNamibia nonando oku na uulongelwe womalanditho, okwa li a nyanyukwa sho Mnangagwa a kutha ko oshipundi shuuleli.
Pethimbo ndyoka okwa li popi kutya okwa li e na ohokwe opo andola he ngoka a mana oondjenda dhe, a mone omalunduluko ngoka ga ningwa melelo lyaZimbabwe.
Okwa popi kutya he okwa hulitha nomutima guuvite nayi omolwa oyana mboka ye li nuuyuni awuhe taya kongo uuhupilo mboka kaye wete nokuli.
Ngashiingeyi okwa kanitha omukumo gokushuna koshilongo shaandjawo hoka a valelwa.
Gumwe gwomookuume ke ngoka iipopi nedhina John, okwa popi kutya onkalo yoshilongo shaandjawo otayi ehameke noonkondo.
Omukwashigwana gumwe natango gwaZimbabwe, Damuza Chindori, ngoka ha landitha iikombe niinima yimwe momapandanda gaNamibia okwa popi kutya okwa galuka okuza kegumbo iiwike itatu ya piti, ihe onkalo moshilongo shaandjawo oya nayipala noonkondo. Pahapu dhaChindori onkalo yeliko lyaZimbabwe oya gwa pevi woo.
Okwa popi kutya oku wete kutya aantu mboka ye li koshipundi kaye na ontseyo nkene eliko lyoshilongo hali longo, molwaashoka yo aakwiita owala.
Chindori okwa tsikile kutya elelo lyaZimbambwe olyiinekela owala kutya eliko lyoshilongo otali vulu owala okuyambulwapo kaapunguli ya za miilongo yopondje, ihe aapunguli otaya vulu owala okuya moshilongo ngele ya mono kutya aakwashigwana yoshilongo shoka oye na omukumo meliko lyawo yoyene. Okwa popi kutya oshidhigu aapunguli ya kale ye na ohokwe okupungula moshilongo ngele aakwashigwana naanangeshefa moshilongo hoka otaya hupu nuudhigu paliko.
Chindori okwa popi kutya onkalo ndjoka yi li moshilongo shaandjaawo itayi idhidhimikilwa, sho ondando yomboloto tayi yelekwa nondando yooN$28 okuya poN$42 momalanditho ga yooloka.
Nonando oshilongo shoka otashi longitha iimaliwa yaAmerika, okwa dhidhilikwa ompumbwe yiimaliwa moshilongo shoka naanangeshefa itaya longo we nawa nuupu molwaashoka oya pumbwa iimaliwa yopondje yoshilongo yo oya pumba moshilongo.
Ooskola moshilongo nadho odha tokola okundjekapo oondando molwa e yo pombanda lyiilandomwa moshilongo, nonkalo oya piyagana noonkondo tayi thiminike aakwashigwana oyendji ya thige po oshilongo.
“Oshike tashi ningwa moshilongo shetu. Sho nda li moZimbabwe kehe omunyasha ota pulandje kutya oompito dhini ta vulu okumona moNamibia. Oyendji otaya pulandje kutya otaya vulu owala okuya nokulonga kehe shimwe shoka taya vulu. Mboka ya mono oodegree dhawo oya hala owala okumona oopasporta dhawo nokudhiga po oshilongo.”
Mnangagwa oshiwike shika okwa shonopeke olweendo lye okuya pondje yoshilongo opo a tale konkalo yiikolokosha moshilongo shoka talele.
Paikundaneki yopauyuni okwa pula oonkundathana dhopashigwana na okwa unaveneke taka ninga omakonaaakono omolwa omiyonena niikolokosha tayi ningilwa aakwashigwana kaanambelewa yegameno moshilongo.
Epangelo olya pula woo opo omakwatathano gopamalungula ka kuthwe mo moshilongo.
Omunambelewa Omukwatakanithi gwongundu yoPopular Democratic Movement (PDM) moshitopolwa shaShana, na oku li oshilyo sheleleo lyongundu ndjoka, Vincent Asser okwa thigi po ongundu yawo nokuwayimina ongundu yoAll People’s Party (APP).
PDM okwa tseyitha kutya Asser oku li mongundu yiilyo 400 mbyoka ya thigi po ongundu ndjoka moshitopolwa ngaashi Oshana, Omusati, Oshikoto oshowo Ohangwena.
Asser okwa koleke ethigepo lyongundu yoPDM pethimbo lyomutumba gwiikundaneki ngoka gwa ningwa mOndangwa, ngoka gwa kaliwa woo komupeha presidende gwongundu yoAPP, Reinhold Madala Nauyoma oshowo ngoka ta longo pehala lyamushanga ndjai gwongundu ndjoka, Vincent Kanyetu.
Asser okwa popi kutya okwa tokola okuthiga po ongundu ndjoka molwaashoka oya ndopa okumutala konima sho a longo nuudhiginini pethimbo lyomahogololo gomvula yo 2014 oshowo omahogololo gomalelo goondoolopa mo 2015.
Okwa popi kutya okwa kala omukwatakanithi gwoPDM mOshana uule woomvula dha thika pu 5 ihe ongundu ndjoka kayi na naye oyi na owala nayo uuna shuuka pomahogololo.
Okwa tsikile kutya okwa kondjo nokulonga nuudhiginini sigo ongundu ndjoka ya mono omawi melelo lyondoolopa yaShakati oshowo Ondangwa, na okwa popi kutya sho ta wayimine oAPP ota faalele aantu mboka a wayiminitha moPDM.
Omupeha amushanga gwwoPDM na oku li kansela melelo lyaShakati, Linus Tobias, okwa popi kutya ke na ontseyo kombinga yetokolo lyaAsser.
Kanyetu okwa popi kutya oya kala taya ningi omahwahwameko gawo monooli yoshilongo na oye shi pondoka okumona iilyo ya thika po 400. Okwa popi kutya yendji oya zilila kongundu yoPDM.
Kanyetu okwa popi kutya elalakano lyomutumba ngoka gwiikundaneki ya ningi okutyapula epondolo lyawo moshitopolwa shonooli yoshilongo.
Multi-collision accidents are those in which the primary impact is followed by collisions with secondary objects, such as other vehicles, trees, or electrical posts, which occur in three out of every 10 accidents. Current airbag systems do not offer secondary protection when the initial impact is insufficient to cause them to deploy. However, the multi-collision airbag system allows airbags to deploy effectively upon a secondary impact by calibrating the status of the vehicle and the occupants.
The new technology detects occupants’ positions in the cabin following an initial collision. When occupants are forced into unusual positions, the effectiveness of existing safety technology may be compromised.
Multi-collision airbag systems are designed to deploy even faster when initial safety systems may not be effective, providing additional safety when drivers and passengers are most vulnerable. By recalibrating the collision intensity required for deployment, the airbag system responds more promptly during the secondary impact, thereby improving the safety of multi-collision vehicle occupants.
“By improving airbag performance in multi-collision scenarios, we expect to significantly improve the safety of our drivers and passengers,” said Taesoo Chi, head of the Hyundai Motor Group’s Chassis Technology Centre. “We will continue our research on more diverse crash situations as part of our commitment to producing even safer vehicles that protect occupants and prevent injuries.”
According to statistics by the National Automotive Sampling System Crashworthiness Data System (NASS-CDS), an office of the National Highway Traffic Safety Administration (NHTSA) in US, about 30% of 56 000 vehicle accidents from 2000 to 2012 in the North American region involved multi-collisions. The leading type of multi-collision accidents involved cars crossing over the centre line (30.8%), followed by collisions caused by a sudden stop at highway tollgates (13.5%), highway median strip collisions (8.0%), and sideswiping and collision with trees and electric poles (4.0%).
These multi-collision scenarios were analysed in multilateral ways to improve airbag performance and precision in secondary collisions. Once commercialised, the system will be implemented in future new KIA vehicles. – Kia Motors Corporation
Sharon Kaenjerewandu appeared before Magistrate Kandinawapa Nangombe and admitted guilt when the charge was put to her. Judgment in the matter was set for yesterday.
Kaenjerewandu said in her plea explanation that she has a two-year-old child who lives on a farm with her 67-year-old grandmother.
She said she was asked by a friend, known only as Leon, to find him a child. When visiting a friend's house, the baby's mother handed over the then one-month-old baby to the accused to use the bathroom.
The moment the mother was out of sight Kaenjerewandu went to a service station in Rehoboth to meet Leon and hand over the baby, but he did not answer his mobile phone.
She then decided to take a lift to Windhoek and was informed the next day that the police were looking for her.
She informed the police where she was and was picked up by officers from the Wanaheda police station.
The police returned her to Rehoboth, where she handed over the baby unharmed.
Legal aid lawyer Ernestine Jansen said Kaenjerewandu was aware that kidnapping is a very serious offence and asked for the court's mercy.
“She is truly remorseful for her actions and does not wish to waste the court's time and puts herself at the mercy of the court.
“The sentence normally attracts a custodial sentence, however, we plead with the court to take her youthfulness into consideration and not bring her to a point where she sees no future for herself,” Jansen said.
She said it should be taken into consideration that the baby was not harmed.
The defence lawyer proposed a sentence of three years' imprisonment, with 18 months suspended for five years. She said it would do justice to the case but would not break the accused and would allow her to continue her life after serving her sentence.
Prosecutor Zibiho Munenze represented the State in the matter.
In an interview with Nampa, some community members explained that rubbish had not been collected since October 2018, and that the problem has been ongoing for the past three years.
Resident Elifas Swartbooi said they were tired of complaining to the municipality because the problem does not get attended to.
“If we call the municipality to come and collect this rubbish, they just say the truck is in the garage. Maybe we should just let it be like that because those people don't care about us,” said Swartbooi.
Another resident, Chris Gawanab who is wheelchair-bound, said he struggles to breathe due to the smoke from the burning trash in the full skip container.
“I am a quadriplegia patient and due to my condition, I hardly breathe when those community members are burning the rubbish because the smoke comes inside my room and it makes me feel sick,” Gawanab stressed.
The community members added that the City's workers only collect the black plastic bags and leave the rest behind, noting that some residents also urinate and defecate at the dumping site. They have repeatedly asked the municipality to build toilets and collect rubbish but their pleas have fallen on deaf ears.
Confirming the situation, the City's solid waste management officer in charge of the area, Puntu Tjivarue, said he is aware of the situation, but due to “the truck being busy somewhere else”, they are unable to collect the rubbish on time.
“Yes, I know, but we are working on a schedule as the truck is busy somewhere else. Windhoek is a big place and we cannot do all the work in a day. Once we get the truck, then we will clean it,” said Tjivarue.
The residents have called on the municipality to educate the residents on basic sanitary care, including the use of black plastic bags and the classification of rubbish and rubble that can be thrown into the skip containers availed to them.
He made the comment recently when sharing his views on the ambitious plan that has been in the works for over a decade.
“The national pension fund is ten years too late, it is long overdue. I am disappointed that it took so long,” said Jauch. The idea of introducing a national pension fund is noble, Jauch felt, as it would assist many workers after retirement.
“The lack of urgency is something that must change; it is time to implement. The longer one takes to implement, the more people potentially end in despair post-retirement,” Jauch said.
The Social Security Commission said earlier this week that it was reviewing recommendations it had received.
“The revised policy is currently being updated by the national pension fund team for consideration and approval by the minister of labour and the management of the ministry,” said its spokesperson, Unomengi Kauapirura.
She added that the national pension fund could become operational this year still.
“If all project deadlines are met, the national pension fund should be fully operational by the middle of year 2019,” said Kauapirura.
Retirement Fund Solutions board chairperson Tilman Friedrich feels that the national pension fund should encompass three critical elements to make it work.
According to Friedrich, the Melbourne Mercer Global Pension Index has identified three primary and many secondary measures against which global pension systems should be measured. The three primary measures are adequacy, sustainability and integrity.
“Any proposed national pension fund model should be benchmarked against other similar social security schemes around the globe. It should aim to offer good benefits on a sustainable basis and should foster the trust and confidence of all participants,” Friedrich said.
“It serves no purpose to introduce an arrangement that does not answer positively to any of these three key preconditions,” Friedrich added.
He warned that a model duplicating the way pension funds are managed in the private sector could wreak havoc.
“It is in my opinion also important that in a country with scarce financial resources and skills, duplication should be avoided for the sake of preserving our scarce financial resources.
“The existing well-developed retirement savings industry should not be uprooted and replaced by something totally new, for the sake of preserving scarce financial resources and skills,” Friedrich said.
According to the SSC, 391 469 employed people did not belong to any pension fund in 2016.
Plans to establish a national pension fund go back as far as 1994 with the passing of the Social Security Act.
Subaru Corp said its sole car factory in Japan accounting for roughly 60% of global production could be out of action for almost two weeks after it discovered a suspected defect in a power-steering component.
The production stoppage, which started from the night shift on Jan. 16 at one of Subaru's only two factories worldwide, was first reported in the Asahi newspaper on Wednesday.
The possible defect affected the Forester, Impreza, and XV models, the automaker said. Production of all other models had also stopped because they are built on the same assembly line, it said.
Subaru is already reeling from stagnant sales growth in the United States and fresh recalls in Japan due to inspection cheating. In November, it slashed its profit forecast by a quarter citing rising recall costs.
The company said it did not yet know what impact the production halt would have on its earnings, which are already on track for a third-straight annual drop. – Nampa/Reuters
Cloud, services fuel IBM's profit beat
IBM Corp beat Wall Street quarterly earnings estimates and also forecast 2019 profit above expectations on Tuesday, in the latest indication that CEO Ginni Rometty's efforts to turn around the technology services company were gaining traction. IBM also posted its first annual revenue growth since 2011.
Rometty, who has been CEO since 2012, has steered the company toward faster-growing segments such as cloud, software and services and away from traditional hardware products, but not without a bumpy journey. The newer areas of focus have sometimes underwhelmed investors.
CFO James Kavanaugh told Reuters that IBM signed roughly US$16 billion worth of contracts in the quarter, its strongest by that measure in a long time.
Underscoring the drive into higher-margin businesses, IBM in October agreed to buy software company Red Hat Inc for US$34 billion, the company's biggest acquisition in its more than 100-year history.
IBM said its gross profit margin, another closely monitored metric, expanded to 49.1% compared with 49% a year ago and it expects to build on that momentum in 2019.
The company forecast adjusted operating earnings for 2019 to be "at least" US$13.90 per share, while analysts on average were expecting US$13.79, according to IBES data from Refinitiv. – Nampa/Reuters
Hedge funds push for overhaul at eBay
Hedge funds Elliott Management and Starboard Value have taken stakes in eBay Inc and are pushing for changes including the sale of some of the e-commerce company's businesses.
In a letter to the company's board, Elliott asked eBay to hive off its StubHub ticket sales business and eBay Classifieds Group as part of a plan the hedge fund says could double the company's value.
Starboard has also taken a significant stake in eBay and been pushing for changes including asset sales in the past few months, a source familiar with the matter said separately. Starboard did not respond to a request for comment.
Elliott, which owns a more than 4% stake in eBay, said the company's share price could reach US$55-US$63 by 2020 if it implemented the hedge fund's restructuring plan.
"While we believe that execution missteps and unclear focus have impaired value, eBay is far from broken, and its future should be bright," Elliott's Jesse Cohn wrote, adding that his mother had built a successful business on eBay by selling jewellery for more than a decade. – Nampa/Reuters
UBS sets gloomy tone for Europe's banks
UBS warned of a tough start to 2019, after reporting an outflow of funds from its flagship wealth management business at the end of last year, sending a shiver through the European banking sector.
UBS is the first major European bank to report fourth quarter earnings, and shares in rivals Credit Suisse and Deutsche Bank fell as investors fretted over similar news from them next month.
UBS's pivot to focus more on managing money for the world's rich and less on volatile areas of investment banking over the past six years or so had made it one of the most stable performers among large European banks.
Overall, UBS generated US$862 million in fourth-quarter pre-tax earnings, missing analyst expectations for US$985 million in the consensus provided by the bank.
The Zurich-based lender, which manages more than US$2 trillion of the world's wealth, posted a 22% dip in fourth-quarter adjusted pre-tax earnings in wealth management as clients reduced risk in their portfolios, traded less and built up their cash positions. – Nampa/Reuters
J&J 2019 revenue forecast misses expectations
Johnson & Johnson on Tuesday forecast 2019 sales that fell short of analysts' estimates as the healthcare conglomerate faces increasing competition for some of its older drugs.
The company's prostate cancer drug Zytiga, an important growth driver, is expected to be pressured by generic competition, while sales of its rheumatoid arthritis drug Remicade has been slipping due to competition from cheaper biosimilar versions.
The company said it expects full-year sales in the range of US$80.4 billion to US$81.2 billion, compared with the average analyst estimate of US$82.69 billion, according to IBES data from Refinitiv.
The company posted net profit of US$3.04 billion, or US$1.12 per share, for the fourth quarter, compared with a loss of US$10.71 billion, or US$3.99 per share, a year earlier, when it recorded a US$13.6 billion charge related to changes to the US tax law. – Nampa/Reuters
This was the frank message delivered by Swapo secretary-general Sofia Shaningwa yesterday when she had her first meeting of the year with the party's regional coordinators in Windhoek.
She made it very clear that members will not be allowed to fall over their feet to sort out their membership and subscription fees at the last minute.
Shaningwa also announced that people must have been members of the party for ten consecutive years, if they want to stand for regional coordinator posts.
Those what are eyeing regional information and mobilisation officer, regional treasurer and district coordinator posts must have been Swapo members for five consecutive years.
Those who want to stand for election as branch office-bearers must have three consecutive years of membership, while section office-bearers must have been with the party for two years.
“You don't come from the Rally for Democracy or Progress or any other party and stand for these positions. Positions in Swapo are not for sale, but are based on loyalty,” she said.
According to Shaningwa there has been reports of some members being elected into positions of authority without meeting the requirements. She added that section leaders will be renewed in March, branch leaders in April and district leaders in May.
“All positions shall be contested through elections by secret ballot, unless the rank-and-file of that particular structure unanimously agrees only to a single candidate for a position,” she said.
Shaningwa cautioned that campaigning should only take place after candidates have been endorsed by the appropriate party organs.
She added there will be no room for indiscipline in the party or any special treatment.
“I have noticed with concern a level of indiscipline in some quarters of our party and I repeat that indiscipline shall dealt with,” she warned.
She also announced the party will launch its campaign and party manifesto for this year's general elections in August.
There had been a contract for the provision of security services at the Otjiwarongo office between the two parties from November 2013 to December 2018, according to the ministry's public relations officer, Andreas Ileka.
In an e-mail to Nampa on Monday, responding to questions, Ileka said the contract between the two ended on 31 December 2018 and the services of a new security company have been sourced to guard the Otjiwarongo Inland Revenue office complex on day and night basis.
“Our internal investigation discovered that the CIS security company had been defrauding the ministry through misrepresentation of information,” said Ileka.
As part of the immediate measure taken against the company, the ministry withheld payments due to it until the investigation process is completed, Ileka added.
A source who asked for anonymity on Tuesday told Nampa that seven security guards employed by the company at the Otjiwarongo finance building were sent home without pay for about four months.
“The ministry owes the security company about N$700 000 for September, October, November and December 2018,” said the source.
Ileka responded that the ministry would determine the actual amount of money owed to CIS only once the investigation is completed, adding that the investigation would reveal the alleged fraud amount.
“The security company is well aware of this as we engaged them on the findings and the withholding of their outstanding payments,” said Ileka.
The company supervisor dealing with the matter at Otjiwarongo, Simataa Mundia on Tuesday said the alleged misrepresentation of information came about when the ministry failed to timeously pay the company's monthly claims for security services provided.
Mundia said as a result, the company had to borrow money from a bank on an overdraft agreement to pay the salaries of its security guards.
“We incurred charges and penalties from the bank since the tendency of delayed payments of our claims became frequent and we consequently took several overdrafts until 2018. When we transferred these charges and penalties onto the ministry, it took it as overcharging,” said Mundia.
The seven former employees of CIS have also since registered a case with the labour ministry at Otjiwarongo for their unpaid salaries. - Nampa
“The down-cycle has been evident since 2016 and carried over throughout 2017 and 2018. In fact, we expect that the economy as a whole contracted in 2018 in real terms,” Bergh says.
For 2019, he expects growth of 1.5% in real terms.
In a situation like this, a country ideally could use fiscal policy to stimulate the economy, Bergh says.
“Increasing spending on, say, infrastructure or wages gives final demand in the economy a boost and hence lifts the growth rate. However, Namibia does not have any fiscal manoeuvrability – debt levels, spending levels and deficits are already too high and threatens the country’s credit worthiness,” he says.
According to him, a tax cut is another option as this will leave more disposable income in the pockets of tax payers. “They then might opt to increase their spending and hence lift the growth rate.”
However, this means that the government’s deficit will increase and therefore, runs into the same fiscal constraints, Bergh warns.
“In fact, the pressures are such that Namibians are likely facing tax hikes rather than cuts. A tax cut may also worsen the balance of payments deficit if it leads to increased imports.”
Inflation, interest rates
Bergh says it is quite possible that Namibia will have a somewhat higher rate in 2019, before it decreases again in 2020.
“Seasonal patterns in the constituents of the inflation basket as well as low inflation in early 2018, the so-called base effect, will probably contribute to a 6% plus rate at times during the year.
“Thereafter, we expect it to average about 5.5% in 2020. This means that Namibians should not expect wage increases much above 5% - 6%,” Bergh says.
The lower petrol price and a stronger-than-expected currency will also help to ensure that, as in Namibia, there won’t be a break-out in inflation in neighbouring South Africa, he says.
“In fact, the South African Reserve Bank (SARB) lowered its inflation outlook and now does not expect inflation to breach the upper band of 6% at any stage over the next three years.”
This means that policy driven interest rates will largely be stable in Namibia and South Africa for the foreseeable future in the absence of nasty surprises, Bergh says.
“The weakness in the real economy does not justify higher interest rates. On the contrary, it rather calls for policy support, which increases talk that the next move in rates could be down.”
Global developments also aligns with lower rather than higher interest rates and do not offer much support for the real economy, Bergh says.
The Chinese economy is slowing due to bruising tariffs, weaker consumer confidence and lower demand for its exports. “This is not good news for commodity exporters.”
Bergh says Europe is beset with issues that are growth negative – Brexit, Yellow Vests and bad loans. Germany, and for that matter, Japan are struggling to prevent an economic contraction. The USA economy seems to be going strong.
“However, deteriorating global sentiment and domestic political shenanigans, coupled with rising interest rates are stoking fears that a recession is not far away,” he says.
According to Bergh the world is experiencing a growth scare similar to that of late 2015 and early 2016. This has affected financial markets badly, especially equity markets – the S&P500, the JSE, Nikkei etc. Markets usually stop panicking when policy-makers start to panic and then, after exhausting all other avenues, decide to do the right thing, he continues.
As far as investment portfolio implications go a cautious approach is still called for, Bergh says.
“Interest bearing assets should continue to provide a reasonably attractive, nearly risk-free return in a fluid and uncertain macro environment. This means that money market returns and bond yields, generally, remains attractive vs. other asset classes as well as vs. inflation.”
Inflation linked bonds are also an asset class that deserves consideration, he says. It protects income and capital against inflation and as such serves as a hedge against “de-pegging” risk.
“Perhaps the best cautious approach is to stick to a plan and/or a strategy that is in line with one’s personal goals, circumstances, risk tolerance and time horizon,” Bergh says.
“By all means, rebalance a bit. However, bear in mind that asset values have already adjusted and are now discounting to the present (present value) a very bleak outlook (future value). The future may not be what it used to be, but it should prove to be better than what is currently expected.”
Clarity and sensibility as far as domestic policy issues are concerned is one of the items on CAM’s wish list for 2019.
“It is critically important that these are settled,” Bergh says.
The golden thread that runs through the modern economic system and holds it all together is confidence, he continues. “Confidence is based on clarity of purpose and predictability of policy. Here we refer to things like legislative changes, land reform, NEEEF [New Equitable Economic Empowerment Framework], tax rates and the currency peg – all of which have been hot topics of late.”
Then entrepreneurs will not lose heart, Bergh says.
“We desperately need them to create, or, at least, maintain, jobs. This is an environment where we must all show our mettle and draw on the reservoirs of goodwill that exist within the nation,” he says.
Only N$83 million was approved, compared to the 2017/18 financial year's capital expenditure budget of N$716 million.
The City has to date spent N$22 million on capital projects for the current financial year, of which the biggest expense was N$8.4 million for electrification of informal settlements.
The City has said that plot servicing, including in informal settlements, is being undertaken through public-private partnerships and as such active projects are not affected by the budget cut.
“However, the planning of new developments is and will be affected,” City spokesperson Harold Akwenye told Namibian Sun recently.
He added that informal settlement electrification was “partly affected and therefore was progressing at a slower speed than desired” due to the delay in approving the budget.
He confirmed that the City's capital expenditure budget was finally approved on 12 December by rural and urban development minister Peya Mushelenga.
The N$716 million approved for the 2017/18 financial year had been approved by the city council, but a new cabinet directive required the City to be given final budget approval by the minister.
The budget was approved after months of back and forth between the ministry and City officials, Akwenye said.
He added that there was no official reason from the ministry for the long delay in approving the budget, but that many discussions “had to take place for the minister to satisfy himself that the City of Windhoek, and to a certain extent the government, is not exposed to unsustainable financial risk.”
Questions about the delay and the approved budget were sent to the ministry more than a week ago, but remained unanswered by yesterday.
Two weeks ago, three opposition city councillors - Brunhilde Cornelius, Ignatius Semba and Josef Kauandenge - said the long delay in approving the capital budget was crippling the City's ability to deliver services to its residents.
The previous capital expenditure budget, approved by the city council, amounted to N$716 million and included projects related to township planning, infrastructure, water and technical services, information and communication technology, housing, property management and human settlement, the City Police, and electricity.
Namibian Sun was unable to verify the exact details of the revised budget proposal the City had submitted to the ministry last year.
A reliable source, who preferred to remain anonymous, told Namibian Sun that because of the delay and the budget cut “certain projects could not get off the ground because the money was not approved”.
The source alleged that the affected projects included road expansion projects in Katutura.
“Most of the major projects are impacted,” he claimed.
The Munich Regional Appeal Court in July 2015 ruled on several payments Air Namibia had to make in respect of money owed to Challenge Air, totalling, at today's exchange rate, in the region of N$360 million, with an added daily payment of US$1 335 in respect of unpaid maintenance.
The airline said it had tried to seek an amicable outcome on the matter. “Although Air Namibia has throughout maintained its legal position on the matter and has unsuccessfully prosecuted its position in this transaction [in] mostly hostile European tribunals with the best available local and international counsel, Air Namibia received a written communication on 11 October 2018 from the firm of Sisa Namandje Incorporated, informing of the fact that they were acting on the instructions of Wilhelm Shali and Anicet Baum,” Air Namibia spokesperson Paul Nakawa said.
“Mr Baum is the court-appointed liquidator of Challenge Air,” he said.
According to him, all avenues were being explored to find a solution.
“The airline hereby takes the opportunity to assure all its stakeholders that all necessary steps are being taken, including but not limited to engaging the claimant directly to find a permanent solution to the matter,” Nakawa said.
Last year, Nakawa told The Namibian that the leased aircraft was “defective”.
“Air Namibia subsequently discovered that the aircraft was defective in material respects, and Challenge Air was unable to rectify the defects. Air Namibia cancelled the agreement on 27 July 1998,” he told the newspaper.
Challenge Air was then placed in liquidation and the liquidators are now seeking the reported damages from Air Namibia.
A meeting involving several ministers, including those of finance, public enterprises and transport, as well as the attorney-general, will be held on Monday next week to discuss the way forward for Air Namibia.
The ministry allocated the funds to the project under the One Region One Initiative (OROI) to purchase papermaking machines.
The money was then channelled through the council to procure three machines. However, the council has been struggling to acquire them.
The papermaking cooperative was established in 2002 and was registered with the trade ministry as a closed corporation in 2009. It has ten employees.
Project head Abraham Shikongo said the project is at standstill.
He said this year they were given three machines from a supplier who was contracted to procure them, but only one machine is correct and they cannot do anything.
“In 2010 we applied to the then local and regional ministry for funds to boost our project's operations. In 2012 the ministry gave us N$1.7 million to buy our machines and build our workshop, but it was channelled through the regional council, which failed to procure the machines,” Shikongo said.
“In January last year the regional council called us requesting us to write the types of machines that we want, which we did, and later they told us that they allocated a tender to a supplier that will supply us with the machines.”
Shikongo said at this stage they produce paper by hand, but they do not meet the required standards and that is why they require the machines.
Shikongo said they requested a papermaking machine, which they will use to manufacture paper from mahangu stalks, a toilet papermaking machine that will use recycled paper and another for producing envelops.
He said earlier this month a supplier delivered the machines, but only one is a correct one.
“They supplied us with a toilet roll machine that uses already manufactured paper and another one for cutting paper in sizes. We did not request these two machines. The only correct machine is the one of making envelops, but yet we refused to receive it until they give us all the machines we requested,” he said.
Oshikoto CEO Frans Enkali confirm to Namibian Sun that he is aware of the project.
He said the project has been delayed by miscommunication between the regional council and the supplier. Enkali said the regional council is busy verifying the machines to find out whether the supplier had delivered the right machines worth N$1.7 million.
Enkali said that a portion of the money has already been used to construct a premises for the project.
“This project is one of the few projects in the region that received funding from the OROI and the regional council have been busy trying to assist the project get its machines.
“According to the report I received from the director responsible, the supplier delivered three machines but only one is correct. We are busy verifying the products as per the order and if we find out that it was the supplier's fault then we will not pay,” Enkali said.
“That is just a simple logic that one cannot pay for what they did not order. If that is the case we will put out another tender.”
Enkali said that according to the economic viability study conducted by the regional council, this project is unique, viable and can add value to the region, while creating employment opportunities for the youth, and therefore they want it realised.
He said the project will be able to receive tenders for paper all over the country.
And a flurry of crises, from Brexit to the US government shutdown, are keeping top world leaders away from Davos as they have more urgent problems to solve at home.
No wonder the mood at the World Economic Forum this year is decidedly sombre, in striking contrast to the widespread optimism that dominated the annual Alpine meeting of the rich and powerful just 12 months ago.
In its World Economic Outlook report released on Monday, the IMF predicted the global economy will grow at 3.5% in 2019 and 3.6% in 2020, down 0.2 and 0.1 percentage point respectively from last October's forecasts.
"Going back a year or so there was abnormally large positivity as we went into the year. It's amazing how a year later that barometer has definitely taken two or three nudges down," Standard Chartered's chief financial officer Andy Halford told Reuters in an interview.
Ray Dalio, founder and chairman of Bridgewater Associates, the world's largest hedge fund, offered a particularly dark view of the global outlook, saying the current climate bears a striking resemblance to market conditions during the final years of the Great Depression in the late 1930s. "We will be in a slowing economic environment. Europe, the US, China - all of those will be experiencing a period of slowing," he said.
"What scares me the most longer term is that we have limitations to monetary policy, which is our most valuable tool, at the same time as we have a greater political and social antagonism. The next downturn in the economy worries me the most," he said.
Jes Staley, the chief executive of Barclays, said the general consensus had turned from "excessive optimism to heavy concern," pointing to the rise of geopolitical uncertainty and the reversal of monetary easing as the two main worries on people's minds.
"The US-China issues, the UK-Europe issues, all this political uncertainty ... It seems as if the centre is holding together less politically than what we had in the past," he told Reuters TV.
But among the overarching gloom and doom, financial leaders were putting on a brave face and trying to see the glass half-full.
Citigroup chief executive Michael Corbat said market fears about an escalation of the trade dispute between the United States and China might be overdone.
"We actually published a piece this morning saying that there is a potential surprise to the upside around getting to a trade deal that might be better than people expect," he told Reuters.
US President Donald Trump has vowed to increase tariffs on US$200 billion worth of Chinese imports on March 2 if China fails to address intellectual property theft, forced technology transfers and other non-tariff barriers.
His secretary of state, Mike Pompeo, voiced optimism on Tuesday for a good outcome in upcoming trade talks with China and said a superpower conflict between the two nations could be avoided.
Corbat said the market sell-off at the end of 2018 was disconnected from the empirical evidence in the United States and economies around the world.
"Going into the new year, we have seen a pretty significant rebound in various sectors ... You've seen earnings coming out, and of the companies that have reported so far over 75% are above analyst consensus," he said.
"I think you are seeing people now potentially moderating from recessionary fears to slowdown, [trying to understand] what's that slowdown going to look and feel like," he said.
Standard Chartered's Halford said the Chinese economy was slowing in part because of the trade tensions but still growing at a pace that would make most other countries "truly envious".
"Overall, if you look at the profitability of businesses globally they are still by historical standards going pretty well, and generally speaking consumption patterns around the world are still holding up," he said.
"Maybe in a few months' time, especially if the tariff situation is a bit clearer, and Brexit is a bit clearer, maybe later this year some of these clouds will lift themselves."– Nampa/Reuters
The 11-year-old boy was identified by the police as Petrus Kapuka.
Police spokesperson Maureen Mbeha said a case of culpable homicide was opened and the investigation continues.
Preliminary police investigations indicate that the boy tried to climb onto the truck as it entered the waste disposal site, but he missed the handle he had tried to grab and fell.
Mbeha said the boy landed under the truck's left rear tyre and died on the spot.
Otjiwarongo municipality CEO Ismael /Howoseb was shocked when informed of the incident.
“It is unfortunate that this has happened while we are busy erecting a fence [around the dump] and sewage ponds to prohibit people and animals from entering these two places,” he said.
He urged residents to stay away from the dumpsite and sewage ponds for their safety.
- Additional reporting by Nampa
The purchasing power of consumers dropped from N$1 in 2012 to 74c last year, Simonis Storm (SS) says in its outlook for the first quarter of 2019. According to its calculations, prices increased by 34.9% over the past six years.
SS forecasts an average overall inflation rate of 5.4% this year, up from an average of 4.3% last year. 2018’s average inflation rate was the lowest since 2015.
The Economic Association of Namibia (EAN) expects overall inflation to remain within the band of 3% to 6% targeted by the South African Reserve Bank (SARB), a key consideration in monetary policy.
EAN research associate, Klaus Schade, says white maize prices and wheat prices on the South African Futures Exchange (Safex) are currently 49% and 21% respectively higher than in January 2018. This could result in further price pressure on bread and cereals, he warns.
Bread and cereal inflation increased gradually throughout last year, but spiked in the last two months of 2018. Starting January 2018 at -4.7%, it ended the December at 7.9% and averaged the year at 1.6% compared to 0.5% in 2017.
Schade says the expected El Niño effect with below average to average rainfall this season in the region could result in further price increases for crops, vegetable and fruits. SS supports this notion.
“The World Meteorological Organisation (WMO) stated that there is a 75-80% chance of an El Niño developing by February to May 2019, however the effect is expected to be mild compared to 2015/16 El Niño,” SS says.
Average annual fruit inflation in 2018 was 9.5% compared to 5.2% in 2017, while vegetables recorded a rate of 5.7% compared to 1.3%.
Schade expects meat prices to decline further due to higher livestock marketing. Annual meat inflation started 2018 at 9.3%, dropping to 3.5% by year-end.
Steep hikes in the fuel prices in the latter part of last year were the main driver of inflation last year.
The inflation rate for operation of personal transport equipment – which includes the fuel price – started off 2018 at 5.2%, moved into double-digit territory last July and peaked at 15.5% in October. By December it had slacked down to 10.5%, following decreases in the fuel price. The overall rate for 2018 was 10.1% compared to 6.5% the previous year.
Despite significant price drops in December and this month, Schade points out that fuel prices remain higher than in January 2018, and will therefore contribute to the inflation rate.
Both SS and PSG Namibia expect oil prices to remain subdued in at least the current quarter.
Schade says changing global growth prospects, particularly progress in trade negotiations between China and the USA, Brexit negotiations, as well as monetary policy paths pursued by the US Federal Reserve and the European Central Bank could influence the oil price.
“In addition, output targets agreed by OPEC+ (mainly Saudi Arabia and Russia), adherence to targets, as well as output responses by US and Canadian shale oil producers will further influence global oil prices, while the exchange rate will impact on domestic fuel prices,” he says.
Despite some relief, the higher fuel costs of the past months could result in so-called second-round effects, because producers could pass on higher input costs to the end consumer, Schade says.
Both SS and PSG expect the rand and Namibian dollar to remain volatile. PSG sees it as an upside risk to inflation, while SS anticipates a “strong bias on an appreciation” - R12.90 against the US dollar by the end of 2019.
This should provide some respite for consumers, SS says.
The deceased's brother, Obrine Katanekwa Liwela (42), filed the lawsuit in June last year.
He claimed that his brother, who would have turned 48 in December, died two days after being admitted to hospital, leaving behind four children now in the care of other family members. “We lost our brother, father and husband due to premature death caused by [the] government. This is the cry from all the people, friends, colleagues and neighbours.
“The void he left cannot be filled by anyone,” the claim filed by Liwela states. “His death came as a surprise to me, because he was talking when I left the hospital that afternoon,” he added.
The N$30 million demand for damages is based on three separate claims.
Liwela is asking the court to award him damages of N$10 million for medical negligence, plus N$10 million for child support.
He says his brother was the sole breadwinner who took care of his children, “and there is no one who can fill that space in my family”.
Another sum of N$10 million is demanded for “premature death”, which Liwela claims was due to the hospital's failure to care for his brother.
The papers do not specify what the original health complaint was that led Liwela to take his brother to hospital.
A death certificate filed alongside the particulars of claim confirms Victor Kamwi Liwela died of “lower respiratory tract infection” on 16 December 2016.
Liwela states that he took his brother to hospital on 14 December 2016.
He states his brother was not given any medication for the next two days, and was only provided with one “drip of water or a bottle of water” on the first day.
He further claims that no food was given to his brother on his first day in hospital.
The day after his brother was admitted, Liwela claims he visited him in the morning and was told by a “student doctor” that if his brother smoked, he “should be taken for tuberculosis tests before he could receive any treatment”.
Liwela claims that on the second day, his brother was again not given any medication or food and was not taken for any tests.
“That means he did not receive any medicine for two days, only drip,” the claim states.
He alleges that instead of taking his brother to the intensive care unit (ICU), he was placed in a ward “with ordinary sick people and no medical attention”.
Papers filed at the Windhoek High Court this week show that the ministry intends to defend the matter.
Liwela's application in December for a Legal Aid lawyer to assist with the case was successful, with Messe Tjituri from Tjituri Law Chambers set to handle the matter on his behalf.
Mkhululi Khupe will act on behalf of the ministry in the matter.
The case has been postponed to 19 February for a status hearing.
NamRights executive director Phil Ya Nangoloh had lodged an application with the High Court in May 2018 in an attempt to overturn a decision by the Veterans Appeal Board that his application for veteran status is disapproved.
The Veterans Appeal Board concurred with a decision by the Veterans Board in March 2017 that Ya Nangoloh's application for recognition as a veteran of the liberation struggle be dismissed.
The Veterans Board had argued that Ya Nangoloh had deserted the liberation struggle when he refused to return to Swapo in 1980 and that he allegedly failed to explain his activities between 1980 and 1986.
The Veterans Act of 2008 defines a veteran as someone who was a member of the “liberation forces” and has “consistently and persistently participated or engaged in any political, diplomatic or underground activity in furtherance of the liberation struggle” up to the date of independence.
The Act further states persons who “discontinued” their participation in the liberation struggle – or who are considered as “deserters” - are not to be considered as veterans of the liberation struggle.
“He [Ya Nangoloh] went on his own which constitutes an act of desertion. Therefore not recommended,” the Veterans Board concluded.
Ya Nangoloh said he had fled Swapo fearing for his life after a number of threats against his life and “several warning signs” after he was associated with Andreas Shipanga who had formed Swapo-D after a fall-out with the Swapo exile leadership.
Ya Nangoloh in his court application argued that the Veterans Appeal Board had failed to apply its mind by not recognising that the rightful owner and custodian of the liberation struggle is the Namibian people as a whole and not an individual party – Swapo, in this instance.
He argued that the board erred in law by equating the liberation struggle with Swapo, or by equating Swapo with the Namibian people.
He said abandoning Swapo does not mean that he has abandoned the liberation struggle.
He said after he developed a “reasonable fear of real arbitrary or extrajudicial execution” on a perceived association with the so-called Shipanga rebellion, he had made a “timely and pre-emptive decision” in 1980 to leave Swapo.
He said the only option left to him to save his life was to flee, refrain or desist from returning to Swapo in Zambia or Angola where large numbers of fellow PLAN or other Swapo members had been sentenced and subjected to arbitrary or summary executions, prolonged detention without trial, torture or other inhumane treatment and enforced disappearances.
Ya Nangoloh said the appeal board concurred with the Veterans Board's “politically-driven, arbitrary and unreasonable decision” that argued that “fleeing for one's life, resigning or deserting from Swapo” must automatically mean an “absence or lack of consistency or persistency” in participation in the liberation struggle.
Moreover, he said assisting Shipanga, whom he considered a personal friend, cannot be interpreted as having been in favour of colonialism, racism and apartheid, or being against the liberation struggle of the Namibian people.
Ya Nangoloh said he was a full-time student at the New York Institute of Technology between 1981 and 1986 where he studied to become an electrical engineer.
He said upon his return to Namibia he was an active official of the Parents Committee of Namibia and had persistently and consistently participated in the political struggle and the campaign to secure the release of political prisoners held by both apartheid South Africa and Swapo in exile.
The match pulled a decent crowd, but the players committed too many errors, leaving the fans frustrated.
The match started on a high for Unam who pushed the ball around as they tried to build momentum.
However, the 16th minute saw Tigers pressurising Unam's defence, and as a result, Ananias Haitembu gave away an own goal as he attempted to clear. In the 28th minute experienced defender Willem Mwedihanga blasted a free-kick on target, but Tigers goalkeeper Immanuel Immanuel jumped high enough to tip the ball over, frustrating the Unam players who were desperate to go level before the halftime.
A goal did not come Unam's way before halftime and it remained 1-0 in Tigers favour as the players headed into their dressing rooms.
The second half did not have much action as the Tigers players tried to showboat with a one-goal lead.
Unam were not having any of that and attacked the Tigers defence after picking up a loose ball, which eventually landed at Edmund Kambanda's feet, courtesy of Tara Katupose. Kambanda blasted the ball low and hard into the Tigers net as their goalie dived the wrong way.
The 1-1 draw was welcome relief for Unam coach Woody Jacobs, who just recently took over the mentor position from Ronny Kanalelo.
Jacobs was pacing up and down the touchline during the match, but remained calm as his charges worked out their game plan on the field to produce the equaliser.
This weekend's NPL matches are as follows:
Life Fighters vs Tigers - Mokati Stadium (16:00)
Young Brazilians vs African Stars - Karasburg Stadium (16:00)
Orlando Pirates vs Black Africa - Sam Nujoma Stadium (18:00)
Eleven Arrows vs Julinho - Kuisebmond Stadium (13:00)
Mighty Gunners vs Okahandja United - Mokati Stadium (15:00)