COMPANY NEWS IN BRIEF

September 2, 2020, 3:00 pm

Samsung eyes new opportunities

From sanitising closets to customisable fridges, the coronavirus pandemic has fanned demand for home appliances, so much so that Samsung Electronics Co Ltd is adding warehouses and bringing popular products to more markets.

In Brazil and other emerging economies, households which once relied on maids are now investing in dishwashers and robot vacuum cleaners, while Samsung says its overseas sales of air purifiers jumped more than five times in January-July compared to the same period last year.

Samsung's AirDresser, a closet that steam cleans clothes and kills bacteria, has seen a spike in sales with British furniture firm Lux Group ordering 1 000 earlier this year.

"Sales are doing well in all but a few countries," Lee Jae-seung, executive vice president of Samsung Electronics' digital appliance business, told Reuters in an interview.

He said factories for Samsung's appliances business in the United States, Mexico, Poland, India and other countries were running at full capacity and the company was seeking more warehouse space in the United States, South Korea and Europe. – Nampa/Reuters

AT&T looks to sell Xandr ad unit

AT&T Inc is exploring a sale of its advertising unit Xandr, according to a person familiar with the matter, as it appears to reverse expensive plans to transform from a wireless carrier to a media and advertising powerhouse.

AT&T has spent more than US$135 billion to stitch together a media company, satellite TV provider and advertising platform to grow its business. But it has faced skepticism from investors.

The discussions come as AT&T's new chief executive, John Stankey, reviews the conglomerate's assets in an attempt to reduce nearly US$152 billion in net debt.

The talks on selling Xandr are in the early stages and may not necessarily result in a sale. The company intends to keep Crunchyroll, the popular anime streaming site, as it fits its content strategy, the source added.

AT&T declined to comment. Shares of the company were down 1.5% at midday on Tuesday. The Wall Street Journal first reported the potential sale earlier on Tuesday. – Nampa/Reuters

Florida cuts ties with Quest

Florida cut ties with Quest Diagnostics Inc as the medical device maker failed to share the results of nearly 75 000 Covid-19 tests dating back to April with the state health department in a timely manner due to a technical issue.

The health department called it "unacceptable", while stating that it was more of a "data issue" as all people who tested positive were notified on time about the results.

Quest said the technical issue that led to the delay in reporting of a subset of public health Covid-19 test data to the health department has since been resolved.

"We remain open to working with the state Department of Health to provide testing that meets the needs required for patient care and public health response," the company said.

Its shares were down nearly 3% at US$107.93 in afternoon trade after Florida Governor Ron DeSantis ordered the health department as well as the Florida Division of Emergency Management to severe ties with the company. – Nampa/Reuters

Toyota US August sales fall

Toyota Motor Corp reported a 23% drop in US new vehicle sales in August versus the same month in 2019, as a two-month industrywide shutdown of auto production in the spring to halt the spread of Covid-19, as well as an uncertain economic recovery, weighed on sales.

This was Toyota's fifth straight month of US sales declines. South Korean automaker Hyundai Motor Co said its US sales fell 8.4% in August, largely due to a decline in fleet sales to rental car companies, government agencies and corporations. Hyundai had posted a slight sales gain in July.

Automakers have struggled to get inventory to dealers to replenish stocks following the pandemic-fueled shutdowns. This has enabled them to scale back consumer discounts on popular models and raise vehicle prices.

According to consultancies LMC and J.D. Power, which had predicted industrywide US new vehicle sales to be down 20% in August, nearly 45% of vehicles sold during the month spent fewer than 20 days on dealer lots, 35 percentage points more than the previous year.

TrueCar Inc subsidiary ALG said on Tuesday that the average transaction price for vehicles was up 3.9% in August versus the same month in 2019. – Nampa/Reuters

StoneCo raises bid

Payments processor StoneCo Ltd on Tuesday raised its bid for Brazilian software company Linx SA by nearly 4% to 6.284 billion reais (US$1.17 billion), topping a proposal from software firm Totvs SA last month.

StoneCo's also revised some provisions of its initial proposal that have drawn regulatory scrutiny, cutting its break-up fee to 453.75 million reais from 605 million reais. If Linx shareholders reject the deal, the breakup fee would fall to 112.5 million reais under the revised proposal.

Linx said compensation and non-compete terms offered by StoneCo to its executives have also been revised. All the revised terms have been discussed only with Linx's independent board members, not with its founders, who are also executives in the company, the software company added.

Linx's shares were up almost 4% in the morning trading, at 36.91 reais, trading at a premium to the raised Stone offer, worth 35.10 reais a share.

Despite the new higher offer, analysts at Credit Suisse said in a note to clients that the new proposal was "still a good deal" for StoneCo. Its shares were up 3.7%. – Nampa/Reuters

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Rössing,Swakop Uranium donates

September 2, 2020, 3:00 pm

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Rössing,Swakop Uranium donates

In an effort to support improved road safety in the country, China National Nuclear Corporation’s Rössing Uranium and Swakop Uranium have installed Stimsonite road studs along the B2 road between Swakopmund and Arandis.

Stimsonite studs are embedded type reflective road studs for use on highways and other roads to improve delineating road markings on the surface of a road, increasing a driver’s ‘preview’ time before taking certain actions, particularly under wet or misty conditions and at night.

A media release jointly issued by the two mines on Tuesday indicated that the project which was handed over to the Roads Authority on Monday covers a distance of just over 40 kilometres and is valued at N$ 200 000.

Speaking at the event, representatives from both mines expressed concern at the ever-increasing road accidents, despite Namibia being named as one of the countries with the best road networks in Africa.

They highlighted their commitment at ensuring the safety of their employees as well as that of other road users.

“Supporting the Roads Authority Namibia to improve safe driving conditions on the B2 road between the two towns is but one of the ways in which our companies reaffirm our commitment to contributing to a safer and prospering Namibia,” the representatives noted. - Nampa

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Illegal fencing a problem at Mankumpi

September 2, 2020, 3:00 pm

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Illegal fencing a problem at MankumpiPeople need land Two illegal fences are currently being investigated by the traditional authority in addition to another 28 that have also been submitted for attention. We have made submissions to different offices for central government to chip in and help as to how we can remove these illegal fences. Lukas Muha, Mankumpi constituency councillor: Kavango west

The Mankumpi constituency in the Kavango west region is faced with a challenge of illegal fences being erected in the constituency, mostly overnight, its councillor Lukas Muha has said.

Muha while presenting his accountability report explained that the constituency has designated land earmarked and demarcated for commercial farming, however, the problem still persists.

“All of this land was demarcated and given to farmers. However, people are still erecting illegal fences within the community unofficially,” he said.

He stressed that in most cases when following up with the traditional authority, they too are unaware of such activities.

Muha noted that there are processes that need to be followed for people to put up fences.

“As we speak, we have made submissions to different offices for central government to chip in and help as to how we can remove these illegal fences,” he said.

Two illegal fences are currently being investigated by the traditional authority in addition to another 28 that have also been submitted for attention to the central government, he stated.

Challenges

The councillor further said another challenge the region is faced with is that of roads, which makes it difficult for the inhabitants to access essential services.

He said the constituency office, for instance, is based at Satotwa village but it is hard for the inhabitants to access the office as the road that leads there is very sandy.

Many construction projects are also not completed because of the state of the roads in the constituency.

Muha said he has been engaging the Roads Authority to see how they can at least prioritise the Charlie Cutline road by upgrading it as it runs through farms in six constituencies. – Nampa

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Argentina restructuring US$66 bn debt

September 2, 2020, 3:00 pm

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Argentina restructuring US$66 bn debtDebt relief, low interest rates The deal meant Argentina would benefit from US$37.7 billion in debt relief while its annual interest rate will drop from seven percent to three percent. This gives us a sufficient economic timeframe to generate sustainable policies and allow development. Martin Guzman, economy minister: Argentina

By Liliana SAMUEL and Nina NEGRON

Recession hit Argentina has managed to restructure 99 percent of US$66 billion in debt issued under foreign legislation, economy minister Martin Guzman announced.

The news comes approximately a month after Argentina reached an agreement with three major creditor groups to renegotiate the terms of the debt following months of strained talks and several missed deadlines.

"There has been massive acceptance, thanks to the dialogue process," said Guzman, speaking alongside president Alberto Fernandez and vice president Cristina Kirchner.

Guzman said that the deal meant Argentina would benefit from US$37.7 billion in debt relief while its annual interest rate will drop from seven percent to three percent.

"This gives us a sufficient economic timeframe to generate sustainable policies and allow development," said Guzman.

The high acceptance rate also lifts the specter of litigation by speculative funds, which have successfully sued the country in the past.

"We've come out of the labyrinth," said Fernandez. "We don't want to condemn any more Argentines to groveling."

As for the remaining one percent, "this debt will surely be paid," said Matias Rajnerman, an analyst at Ecolatina.

"It's very little money, US$600 million. For Argentina it's practically nothing."

The deal, reached on August 4, is worth 54.8 cents on the dollar, a significant increase on Argentina's original offer of 39 cents.

The bonds represent roughly a fifth of the country's US$324 billion in debt, which amounts to around 90 percent of its GDP.

Consultations

The country is also waiting to find out this week how many creditors involved in a US$41.7 billion debt under local legislation will sign on to a restructuring deal with the same conditions.

Last week, Argentina formally opened consultations with the International Monetary Fund to agree new terms on the repayment of a US$44 billion bailout loan agreed in 2018.

The loan was due to be worth US$57 billion but centre-left Fernandez refused the remaining disbursements when he took power in December 2018. The loan had been agreed by his liberal predecessor Mauricio Macri.

Argentina, which is in the midst of an economic crisis and has been in recession since 2018, is due to start repaying that debt in September 2021.

"Unlike its neighbouring countries, Argentina didn't go to the Fund in the midst of the coronavirus pandemic," economist Marina Dal Poggetto from the EcoGo consultancy, told AFP.

"What that means is the government wants to refinance the repayments."

It has been in default for the ninth time in its history since May 22 when the country missed a deadline to pay US$500 million in interest on the debt that is subject to the current negotiation.

It missed another deadline in July to pay US$600 million more. Argentina's troubles have been exacerbated by the coronavirus pandemic, with more than a third of the country's population of 44 million living in poverty.

Inflation stands at 40 percent and the IMF expects Latin America's third largest economy to shrink by 10 percent this year. – Nampa/AFP

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Australia enters recession

September 2, 2020, 3:00 pm

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Australia enters recession

Australia has entered its first recession since 1991 after the economy shrank 7 percent in the second quarter, official figures showed Wednesday, as the country reels from the coronavirus pandemic.

The Australian Bureau of Statistics said it was the fastest quarterly contraction on record and ends a three-decade run of economic growth that was undented even by the global financial crisis.

The bureau's head of national accounts, Michael Smedes, said the pandemic and containment efforts were to blame for the "unprecedented" drop that exceeded previous records "by a wide margin".

A recession is defined as two consecutive quarters of contraction. Australia's economy shrank 0.3 percent in the previous three months.

The widely expected result is in line with earlier government predictions that gross domestic product would contract seven percent in April-June.

"The June quarter saw a significant contraction in household spending on services as households altered their behaviour and restrictions were put in place to contain the spread of the coronavirus," Smedes said.

Hours worked fell almost 10 percent while cash payments of social benefits rose more than 40 percent, both records for the country.

Trade also took a hit during the quarter, with imports of goods down 2.4 percent and exports of services dropping 18.4 percent, the bureau's figures showed.

The government has stumped up tens of billions of dollars to fight the economic fallout from pandemic. Australia's forced shutdown earlier in the year crippled the economy and a current lockdown of five million people in Melbourne has compounded its problems. – Nampa/AFP

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HKIA ready to resume operations

September 2, 2020, 3:00 pm

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HKIA ready to resume operationsTargeted International Tourism Revival Initiative The NAC has not received any airlines scheduled ahead of the reopening, but they have expressed their willingness to resume flights.

The Namibia Airports Company (NAC) said it is pleased to resume operations at the Hosea Kutako International Airport as part of Namibia’s Targeted International Tourism Revival Initiative.

NAC in a media statement said it has set in motion its restart plan to ensure the airport’s readiness upon the resumption of international flights as borders are to gradually open under the provisions of the State of the Emergency Regulations on Covid-19.

“The NAC has not received any airlines scheduled ahead of the reopening, but they have expressed their willingness to resume flights and we are anticipating mid-September 2020. Alternatively, we advise prospective passengers to consult airlines for travel itineraries,” it said.

It further noted that social distancing measures such as floor and seat stickers and messages on mandatory wearing of masks are visible at the Hosea Kutako International Airport, while sanitiser dispensers are also available, amongst others.

Mandatory thermal screening at arrival and departure points will take place and social distancing of 1.5 metres will continue to be observed, as is indicated social distanced seating.

NAC also gave the assurance that the airport surfaces, trollies and other amenities will be disinfected and cleaned frequently for passengers’ safety, while the airport’s counters are fitted with transparent glasses and hand sanitisers.

The airports company is part of the team spearheaded by the Ministry of Environment, Forestry and Tourism; Ministry of Health and Social Services and Ministry of Home Affairs, Immigration, Safety and Security, tasked with finalising modalities related to the targeted international tourism revival.

Other key members are the Namibia Tourism Board, Ministry of Works and Transport and the Namibia Civil Aviation Authority. - Nampa

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Nedbank launches financial booklet

September 2, 2020, 3:00 pm

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Nedbank launches financial booklet

The second edition of the Nedbank Financial Education booklet was launched in the capital on Monday.

The booklet was created with the aim of enhancing the public’s financial knowledge, as well as empowering Namibians to make better and informed financial decisions, a media statement issued by the bank on Tuesday said.

It comes at a time when many Namibians are facing financial hardships as a result of the Covid-19 pandemic, the bank added.

“Nedbank Namibia is a platform partner and member of the Financial Literacy Initiative (FLI), which is a national platform under the custodianship of the Ministry of Finance, dedicated to educating the public on money matters. The FLI aims to improve people’s lives through delivering financial education programmes countrywide to individuals and small businesses,” the statement said.

It further noted that the FLI has left its mark on Namibia’s SME sector through its financial management training for small businesses all around the country.

Nedbank Namibia Head of Nedloans, Erastus Haihambo as quoted by the statement said consumer protection was a fundamental principle for the creation of the booklet.

“The principles of consumer protection, which includes treating the client fairly and encouraging responsible lending were foundational in both the creation of the booklet, as well as the introduction of newly revised Nedloans personal loans product, which came into effect on 01 July 2020,” he said.

He noted the Financial Literacy Initiative’s main objective is to empower communities with financial knowledge.

“The Nedbank Financial Education booklet has the potential to improve the lives of individuals and business people of Namibia, it can assist people to identify, choose and use the best financial products and services for their specific needs,” he concluded. - Nampa

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China keen to mine Namibia

September 2, 2020, 3:00 pm

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China keen to mine NamibiaUranium prices will improve Chinese state investments are seen as a vote of confidence for Chinese business to come to Namibia. Why not in the future an own nuclear power unit for Namibia? - Zhang Yiming, Chinese ambassador to Namibia

Augetto Graig - The ambassador of China to Namibia, Zhang Yiming, says mining in Namibia has a brilliant future and that his country has a huge interest in the local industry.

According to the ambassador the reasons why China, the leader of global economic growth contributing 31.6% in 2019, is so attentive to the development of mining in Namibia are China’s own huge demand, Namibia’s rich minerals resources, the relatively good local business environment and excellent bilateral relations.

Speaking during a Namibia Media Holdings (NMH) panel discussion, sponsored by Standard Bank Namibia, on Namibian mining resilience on Tuesday, Yiming said China is a major global player in terms of mining production and consumption accounting for one fifth of the world’s total energy production in 2018, and 24% of global energy consumption.

China also imported 16% of the world’s crude oil that year, 13% of the global natural gas production, 64% of iron ore, 56% of copper ore and 76% of bauxite ore.

Yiming said the giant economy cannot survive without sustainable and stable supplies of energy and natural resources, which is the driving force behind Chinese mining companies going abroad and coming into Africa for international trade and direct investment.

Prime target

Namibia is a prime target for these companies because of the country’s endowment of mineral resources.

Already in 2019 bilateral trade between Namibia and China reached an historic high worth N$28 billion, he said. Almost half of that was trade in copper while trade in uranium also increased by 43% last year, he said.

China sees Namibia as a strategic mineral reserve country where diamonds, uranium, copper, lead, zinc and gold can be found. According to Yiming, Namibia’s government is active and has open transparent policies which guarantee the resilience of the local industry which generated N$33.5 billion income from operations in 2019 and contributing 9.3% to Namibian GDP growth last year.

Yiming said China and Namibia have enjoyed excellent relations since Namibia’s independence 30 years ago. To date China has become the largest trading partner of Namibia, and since 2019 also Namibia’s largest export market.

Already some 60 Chinese state-owned enterprises and larger private companies operate in Namibia, of which about a tenth are involved in mining and exploration of uranium, marble, gold and manganese.

Investments

Yiming highlighted Chinese investment in the development of the Husab uranium deposit which amounts to US$5 billion (about N$87 billion) since 2012.

“This is the single largest Chinese company investment in Africa,” he said. Once the Swakop Uranium operation reaches full production it will be able to supply 30 nuclear power units in China for thirty years, possibly contributing up to 5% of Namibia’s GDP and making up as much as 20% of exports.

Such successful investments from giant state-owned Chinese companies are a vote of confidence to Chinese interests looking to invest in Namibia, he said.

Yiming said China has restored normal economic and social activities in the wake of the global Covid-19 outbreak and by the second quarter of 2020 already recorded 3.2% positive economic growth. With this demand for electricity has expanded and the Chinese government’s clear policy is to support the development of nuclear power to meet this demand.

“So far only 5% of total electricity demand in China is supplied by nuclear power. 47 nuclear power units are in operation while 15 are under construction,” he said. Globally only 10% of power is nuclear so there is room for growth and the demand for uranium will increase, he added.

According to the ambassador uranium prices will increase once the demand/ supply relationship changes. Local producers need only be patient until Namibia receives this good news.

Regulatory environment

Taking advantage of the presence of Namibia’s minister of mines and energy Tom Alweendo on the panel, Yiming conveyed Chinese mining companies’ desire that Namibia clarify environmental and social regulatory expectations and relax visa requirements, update labour laws and encourage unions to facilitate member participation in safety, technological improvement and cost savings, and redouble vocational and technical training of the local workforce. He also expressed concern regarding water supply interruptions.

Yiming said Chinese financial institutions and companies are keen to participate in developing local water desalination, while the Chinese government intends to strengthen policies encouraging more investment in Namibia, technology transfer and personnel training, greater integration of Namibia in regional and global supply chains and the processing of minerals locally.

“Why not in the future an own nuclear power unit for Namibia?” he asked.

On his part Alweendo said shareholder expectations must be balanced against the expectations of the people of Namibia from the industry, and that investors who demonstrate a mutually beneficial relationship with Namibia are preferred.

He concurred that for mining in Namibia, “the future is bright”. - augetto@republikein.com.na

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Old Mutual employees come through for the Otweya Community in Walvis Bay

September 3, 2020, 4:04 am

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Old Mutual employees come through for the Otweya Community in Walvis Bay

Monique Adams - Sunday, 26 July 2020 was a sad day for the nation as a large part of the Otweya settlement in Walvis Bay was up in flames, destroying the homes and personal belongings of hundreds of people living there.
Walvis Bay’s Otweya settlement is one of the vulnerable communities where households struggle to make ends meet, worse now due to the outbreak of Covid-19 and the huge effect it has on the socioeconomic conditions in the country.
The year 2020 has been a year full of challenges that has affected everyone.
During tough times like these it is essential that there is unity, resilience and positive mind sets from us all. Old Mutual will continue to improve the lives of the communities in which they operate, as they have doing so for the past 100 years in Namibia.
On Tuesday, 25 August, Old Mutual employees across the country opened their hearts in support of the 153 affected Otweya households with the donation of clothes and blankets.
Old Mutual has also procured 153 washing basins, plates, cups, washing powder and fabric softener to the value of N$42 000 after receiving an assessment of the families’ needs from the mayor’s office.
Johanna Shatika, Old Mutual branch manager in Walvis Bay, handed over the goods in consultation with the Erongo regional governor’s office and the office of the mayor. Andreas Amukalu of the Walvis Bay municipality’s fire department received the consignment.
Old Mutual employees extended a special message to the Otweya residents: “You cannot go back and change the beginning, but you can start where you are and change the ending. Do not give up hope and continue to stay strong by doing great things every day”.

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Insurance in the time of Covid-19

September 3, 2020, 4:52 am

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Insurance in the time of Covid-19Stakeholders within the insurance sector urge policyholders to communicate with advisors when they are not able to pay premiums due to financial constraints. Communication is key On Tuesday, a discussion regarding the service provision of insurance companies during the coronavirus pandemic took place at the Covid-19 Communication Centre in Windhoek.
Representatives from the Namibia Financial Institutions Supervisory Authority (Namfisa), Sanlam Namibia and Old Mutual joined in the discussion to shed some light on issues regarding service provision in the insurance sector.
Insurance in the country can be divided into short-term and long-term insurance. John Usiku, the insurance manager at Namfisa, said, currently, 16 life insurance companies are registered and operating in Namibia, with 1.7 million insurance contracts issued to the public, of which 34% is funeral insurance contracts.

‘Fairly good margin'
“Currently, the insurance sector has total assets of N$56 billion in Namibia, of which N$12 billion are free assets. This serves as a fairly good margin of safety for the industry and speaks to the fact that the insurance industry is sound and well capitalised,” Uusiku said.
He added that the sector and Namfisa has been agile and proactive in understanding the impact of Covid-19 on the industry and immediately started with stakeholder consultation since the initial outbreak, when they engaged each of the registered insurance companies.
“We had discussions with them on their outlook and the possible impact of the pandemic. That consultation resulted in Namfisa issuing a Covid-19 circular where we made recommendations to the various insurance companies. This included premium holidays that were among some of the recommendations made to see where insurance companies can assist policyholders.”

Financial guidance and counselling
Uusiku stressed the importance of financial guidance and counselling to those who want to cancel policies due to financial constraints and providing alternatives to see where policyholders can be assisted.
“This has had a direct positive impact on the amount of policies cancelled. We also need to take care of the insurance intermediary companies, which are essential for the survival of insurance companies, and we also encouraged our insurance companies to assist these intermediaries where possible, because they too have felt the impact of Covid-19.”
Uusiku added that the proposed relief will only be valid during the state of emergency as an interim arrangement made in good faith.

No discrimination
Hilaria Craig, the marketing and communication manager at Sanlam Namibia, assured that there would never be discrimination against claims as a result of Covid-19 deaths.
“We don’t have a specific Covid-19 related payment strategy. We are honouring all claims if all requirements are met. If the waiting period has been met, we will pay out. Funeral cover is not influenced by the type of death, and therefore no discrimination will take place,” she said.
This was reiterated by John Hesekiel, the head of distribution at Old Mutual.
“We understand that these are difficult and unprecedented times, and we are trying to align ourselves to what is happening in the country.
“We have also reduced the waiting period for Covid-19 related death claims only,” Craig added.

State burials
Both Sanlam Namibia and Old Mutual emphasised that burials done by the state due to Covid-19 related deaths will not affect claims made.
“In essence, we have a contract with the policyholder, so when a Covid-19 death happens, we still pay out the amount covered, even when burials are done by the state,” Craig said.
Another discussion point was the cancellation of policies due to financial constraints caused by the lockdown and state of emergency.
“There are always options available to help you when you are not able to pay your premiums, and we want to help where we can. We urge our customers to consult their advisors to see alternative options,” Hesekiel said.
“It can become a very hard decision to make when you need to decide between bread on your table and your insurance policy. You insure for unforeseen circumstances. Especially regarding Covid-19, where deaths are unpredictable, it is important for you to make sure you have something in place to help and protect those loved ones you may leave behind. “We will help you where we can, and we can sit down and see where we can accommodate you. We must hold hands and help one another, now more than ever,” Craig added.

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Bank Windhoek announces new executive appointments

September 3, 2020, 4:57 am

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Bank Windhoek announces new executive appointments

Bank Windhoek has announced the appointment of its new chief financial officer, Zenaune Kamberipa, effective 1 September 2020.
Kamberipa will be taking over from James Chapman, who has been appointed as the executive officer of retail banking services.
Kamberipa started his career as an auditor at Deloitte SA in 2010 and moved to Deloitte Namibia in 2013. Before joining Bank Windhoek, he was the group financial manager at FirstRand Group for four years.
Kamberipa completed his tertiary education at the University of Witwatersrand in South Africa and is qualified as a chartered accountant. He is currently in the final stages of completing his MBA with the University of Stellenbosch.
He has spent his entire career in the financial industry and brings with him a wealth of experience from which Bank Windhoek will only be able to gain.
“In my new role at Bank Windhoek, I look forward to implementing and driving the financial strategy of the Bank and to partnering with the other business units to achieve the Bank’s strategy,” Kamberipa said.
“We look forward to benefitting from his knowledge, experience and fresh perspective. Furthermore, I am confident that he will make a positive contribution,” said Bank Windhoek’s managing director, Baronice Hans.
Chapman in his new role takes up the responsibility of leading Bank Windhoek’s largest business unit.
As executive for retail banking services, Chapman will be responsible for managing the bank’s entire branch network, serving personal-, business- and corporate customers across the country.
He will also be responsible for implementing the bank’s digitisation strategy across retail banking services.
“Chapman has held the role of CFO with distinction over the past four years and has demonstrated that at Bank Windhoek we do not aim only to create jobs but ultimately to build careers through focussed leadership development,” said Hans.
Chris Matthee, who has led Bank Windhoek’s retail division for the past ten years to become a leader in the field of customer-centric service, will be joining Capricorn Private Wealth as the new executive officer of Capricorn Private Wealth with effect 1 September 2020.
Matthee holds a B Comm Honours degree from the University of Stellenbosch and has also served the bank in various other disciplines, including IT and specialist finance at an executive level, over the years.
“We look forward in tapping into Matthee’s wealth of retail and client experience to serve the premium segment of the bank,” Hans continued.
Leon Koch will be moving from Capricorn Private Wealth and will take over the business banking division as from 1 September. Koch has held various roles within the banking sector and holds an MSc in International Banking and Finance. Business Banking includes the Commercial and SME customer segments.
“I look forward to his valuable contribution and wish him well in his new role, Leon is a seasoned Banker and consistently delivers stellar results,” said Hans.

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Old Mutual supports vulnerable communities in Oshikoto

September 3, 2020, 5:03 am

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Old Mutual supports vulnerable communities in Oshikoto

On 2 September, Old Mutual delivered food parcels to the value of N$136 689 that will benefit 230 households in the Oshikoto Region.
The handover took place at the office of the governor in Omuthiya, marking Old Mutual’s support to the 10th region in the country as part of its Covid-19 food outreach.
In March, Old Mutual made a commitment of N$5 million towards Covid-19 prevention efforts, of which N$1 million was set aside for food supplies to benefit affected vulnerable individuals and communities across all 14 regions in our country.
The office of the governor and the Oshikoto regional council identified individuals in all 11 constituencies of the region that are in dire need of basic food items to benefit from this donation. This brings the total value of Old Mutual’s Food Outreach nationally to N$1 310 670, supporting over 2 622 individuals in 10 regions to date.

‘Certain friend in uncertain times’
“As a responsible and caring business that has been serving Namibians for the past 100 years, Old Mutual will continue to fulfil its commitment as a certain
friend in uncertain times,” said Old Mutual northern region sales manager, Ruben Nikanor.
He noted that Oshikoto is well-known for agricultural activities in the northern part and cattle farming and mining in the southern part, but like other regions, many people are suffering due to poverty, increasing unemployment and other social challenges.
Nikanor further extended his appreciation to the governor’s office and the regional council who played an important role in identifying nutritionally balanced food parcels and handling the storage and distributing process responsibly.

Gratitude
Also in attendance at the handover event was Penda Ya Ndakolo, governor of Oshikoto, who extended a word of gratitude to Old Mutual on behalf of the people of the region.
Old Mutual is anticipating to conclude the roll-out plan in the remaining four regions within the next two weeks, in consultation with the lead ministry’s national health emergency management committee as their key partner.

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Old Mutual launches customised insurance proposition

September 3, 2020, 6:19 am

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Old Mutual launches customised insurance proposition

Old Mutual Namibia launched its new personal cover solution, which allows each customer to build their cover to suit their lifestyle and their budget.
At the launch, Kosmas Egumbo, Old Mutual group CEO, said the new proposition offers a range of personal and business cover solutions in respect of life cover, disability and funeral, and which will be complemented by the launch of savings and investment propositions.
These solutions are backed by sophisticated systems that provide advisors and brokers with a seamless online sales and servicing experience.
“When designing this proposition, we took all our learnings and market insights, coupled those with some of the best product features in the industry, added smart technology and integrated our rewards offering, giving our advisors and brokers a seamless tool to engage customers with,” Egumbo added.

Modularity and flexibility
At the heart of the new solution lies modularity and flexibility – giving advisors and brokers the ability to help customers build what is relevant to them in terms of cover and any extra benefits they wish to add – and also flexibility, meaning cover modules can be changed as the needs of the customer change.
“Today, people are following non-linear career paths; they live in traditional, non-traditional and blended family set-ups with changes in journeys being followed towards self-actualisation. Our current reality highlights the need for personal cover that is comprehensive, flexible and modular, keeping pace with our evolving lives and aspirations for the future. This is exactly what our new proposition offers,” Egumbo said.
He explained that the ease of the digital process allows for online needs analysis and solution recommendation, which is set to result in a more informed customer and improved efficiencies.
“Besides the legal requirement to keep record of all financial advice conversations, online access and storage of documents makes it easier for financial advisors and brokers to conduct business on the go and thus improve their own turnaround times and all-round customer service,” he said.
Meaningful conversations
The experience from solution recommendation to quote and the issuing of the policy means that advisors can focus on engaging meaningful advice conversations with their customers.
“We’re introducing systems that will save our advisors’ and brokers’ time by, for example, pre-populating personal information, saving advice records securely in a cloud for them to access easily, and making quick underwriting decisions,” Egumbo said.
Funeral policies can now be issued within 30 minutes, and life policies and severe illness policies can be issued within five days, provided all administrative and medical requirements are met.
The range of benefits ensure that a comprehensive range of customer needs are addressed.
“What we have now is essentially cover that evolves with the customer’s ever-changing life needs, ensuring that what matters most to them is always protected,” Egumbo said.
“Old Mutual’s new insurance proposition is intuitive and intelligent, and it has been designed with the needs of customers in mind while making it easier for advisors and brokers to engage with and advise customers. The dynamic quote process, choice of modular benefits and automated solution recommendation will help advisors and brokers across all channels to design individually tailored plans that meet customers’ financial needs in one journey.”

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Committee appointed to fix NFA/NPL mess

September 3, 2020, 3:00 pm

≫ Next: Shalulile chasing the dream

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Committee appointed to fix NFA/NPL messRecommendations to help NSC Yesterday's verdict on the impasse between the NFA and NPL is the establishment of a five-member mediation team.

LIMBA MUPETAMI

WINDHOEK

The Namibia Sports Commission (NSC) has appointed a five-member team, on the instructions of sport minister Agnes Tjongarero, to serve as mediators in the ongoing football impasse.

With ongoing uncertainty as to when local football will start, and which body the top league will be affiliated to, the NSC appointed Roswitha Gomachas, Thomas Mbeeli, Heritha Nankole Muyoba, Walter Don, Bro-Mathew Shinguadja and Stanley Mutoya to mediate in the ongoing fracas between the Namibian Football Association (NFA) and the Namibia Premier League (NPL). The committee members have a month to carry out their duties and to make recommendations on the NPL's expulsion and their decision to form a break-away league, as well as the NFA's decision to start another top-tier league. They will also mediate in the issue of the NPL's application to register as a sports body.

Top voice

Tjongarero explained her reasons for the decisions, saying that football is regarded by many countries as a significant part of any nation's culture and social upliftment.

“The power of football in society is on display every day around the world. It is a game that brings people together, inspires generations and promotes team spirit, foster nation building and social cohesion. In this regard Namibia is no exception,” she said. “The ministry's target of contributing 2% to the employment rate by 2022/23 as set out in NDP 5 has set forth football as the national sport code to be at the forefront of our developmental initiatives.

“It is important to underline that the fundamental and sole objective of the ministry is to promote sport. In this situation, it is to bring lasting harmony and peace in the football fraternity to achieve national development objectives and for the better of all athletes in the Namibian house,” she said. The minister said the current situation in the football fraternity has reached alarming proportions and could adversely affect the nation's ability of delivering on the above target.

“My office supports and appreciates all efforts employed to remedy the situation at hand and thus subsequently, based on the provisions of Chapter 6, Article 40 (a) of the Namibian constitution in conjunction with Section 14 of the Namibia Sport Act 12 of 2003, my office directed the NSC to appoint, in line with Section 8 of the Namibia Sport Act 12 of 2003, a committee to independently and impartially mitigate the impasse,” she said.

Tjongarero further called on stakeholders to render support and assistance to the committee to achieve the intended assig. “Thank you, minister. I hope the people who want to destroy our beautiful game will swallow their pride and do what is right,” said Omukamuahao Kaeka.

However, this announcement frustrated many in both camps who wanted the issue resolved as soon as possible. Local fans took to social media to ask and make statements.

“This is going to take longer than expected; delays with no football rolling in Namibia. We are playing football in boardrooms now, committee after committee,” said Edison Kaloko Uapinge.

“This whole drama makes the NSC look useless and undermined,” said Vilho Namufinda.

Ahty Nestor said the government must realise their interference in football may lead to the suspension of all local football activities by Fifa for five years. “It is only our young generation's dreams which will be thrown out of the window,” he said.

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Shalulile chasing the dream

September 3, 2020, 3:00 pm

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Shalulile chasing the dream• N$30-million price tag The Highlands Park danger man and Namibian international is at the top of his game, boasting a massive 15 goals.

Limba Mupetami

WINDHOEK

Twenty-seven-year-old Highlands Park top striker Peter Shalulile is not only finding the net regularly in the Absa Premiership, he is being headhunted by the likes of Mamelodi Sundowns for next season.

With his club in the process of being sold to outside buyers, Highlands Park bosses are selling top players to make up the valuation of the club's status should they reach an agreement. According to KickOff, the club purchase is being led by TS Galaxy owner, Tim Sukazi.

Meanwhile, chairman Brad Kaftel confirmed to the football publication that there are negotiations for Shalulile and Malawian Mothobi Mzava.

Negotiations underway

“I can't confirm nor deny that we are in talks with teams regarding those two players.

“There's been negotiations going on, but nothing has been concluded,” Kaftel said. Shalulile, who sports a N$30-million price tag, boasts with 15 goals, making him the joint top goalscorer alongside Orlando Pirates' Gabadinho Mhango.

Record holder

In the National First Division in 2018, Shalulile finished as the joint top goalscorer with 15 goals.

Throughout the season, the Namibian has been flying under the radar. Coming from a relatively small club and going unnoticed, the danger man has been working hard.

On Wednesday, he scored a brilliant goal in the sixth minute when his side faced Cape Town City.

Pirates' Mhango also scored in the dying minutes of their game to stay at the top and to keep his side in the fourth position.

Scoring chart

Third in tow on the scoring chart are SuperSport United's Bradley Grobler (14 goals) and Kaizer Chiefs' Samir Nurkovic, Knox Mutizwa of Golden Arrows and Amazulu's Bongi Ntuli with 13 goals each.

Shalulile's side is eighth on the log, with their last match scheduled against Amazulu tomorrow, while rival Mhango's team will face Stellenbosch.

This weekend's matches will complete the 2019/20 campaign.

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Agriculture 'paradigm shift' needed

September 3, 2020, 3:00 pm

≫ Next: Complaint against Dr Alfredo Hengari

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Agriculture 'paradigm shift' needed• Corruption among issues slowing down performance Prevalent issues that have slowed down the performance of the agriculture sector include corruption, red tape, policy uncertainties, lack of competence in key institutions and the private sector's 'watch and see' attitude.

ELLANIE SMIT

WINDHOEK

Namibia must ensure it is shockproof against the coronavirus pandemic, global warming, as well as other forces that can negatively affect the performance of the agriculture sector.

This is according to Namibian Agronomic Board (NAB) chairperson Michael Iyambo, who was speaking at the opening of the two-day market-led Agricultural Conference.

The conference was held virtually under the theme Agriculture Fit for the Future - Robust, Resilient and Responsive.

“We need a paradigm shift in our thinking as leaders in the private and public sector and interrogate deliberations that will allow us to cease focusing and relying on other countries externally,” Iyambo said.

Investor mindset

He added that approaching transformation with an investor mindset is critical to the success of the process.

Agricultural transformation is more than changes in farming practices, he added.

“It is about catalysing the transformation of a country's rural economy. For transformation to succeed, there must be a common understanding of the plan, stakeholder roles and approaches to the management of the process. At the highest level, key government ministries, local and international private sectors and donors must be aligned.”

Slowing down performance

According to Iyambo, there have been prevalent issues that have slowed down the performance of the agriculture sector. He said these include corruption, red tape, policy uncertainties, lack of competence in key institutions and the private sector's 'watch and see' attitude.

According to him, this is coupled with laws and regulations that influence banking, land ownership and access, as well as access to water, which prevents Namibia from exploiting opportunities for inward investment, while at the same time driving Namibian businesses to explore investment opportunities elsewhere in the region with better environments.

“Namibia loses out on economic activities, multiplier effects, tax revenue and jobs, and of course all the way we lose dearly.”

Iyambo said in the agriculture fraternity, there is an opportunity to internalise, redesign and transform to achieve the desired objectives for the country.

“We owe it to ourselves and the country at large to ensure that the engine of the economy, which is the agriculture sector, performs at its maximum potential.”

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Complaint against Dr Alfredo Hengari

September 3, 2020, 3:00 pm

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Complaint against Dr Alfredo Hengari

Your Excellency,

President Hage Geingob:

We are a group of diverse Namibian media professionals who have decided to write this letter for your urgent attention.

We begin this letter on a hopeful note. You have, since taking office five years ago, reassured the public that you value freedom of the press. Namibia continues to be the flag-bearer in Africa when it comes to press freedom. There is no doubt that this makes you as proud as we are.

However, your pledge to ensure press freedom is being eroded in broad daylight by your press secretary who is supposed to create a better working environment with the media.

Press secretary Dr Alfredo Hengari has, since 2018, used tactics that bluntly undermine the role of the press. His lack of humility and continued attacks on the role of the media through his opinion pieces and presidency statements have clearly created a sour relationship between the media and your office.

Dr Hengari does not seem to respect the sacrosanct values of the press corps or the president's pursuit of ensuring media freedom in Namibia. It is either he is deliberate or does not understand how the media environment works. Either way, his actions are causing damage that could take years to repair.

Anti-media freedom actions

Here are some examples of his anti-media freedom actions:

Members of the press corps have on several occasions experienced direct conflict with Dr Hengari regarding the manner in which the presidential press office actively resists media freedom. This includes dictating questions that reporters should ask the president at a press conference. He did this last year. He is also known to continuously interfere in the editorial independence of the Namibian Broadcasting Corporation (NBC) television news editorial staff by pressuring them into running specific soundbites, not editing soundbites of the president and attempting to force stories onto the 20:00 news bulletin, regardless of what time information was made available.

Dr Hengari has on a number of occasions placed undue influence on the NBC to broadcast news items featuring himself. The latest attempt took place on 30 August. On this day, Dr Hengari uploaded a media statement to the Namibian presidency's Facebook page, creating the impression the statement was shared with all media houses, when in fact it was sent to NBC exclusively.

It was only posted after some of our colleagues questioned why the statement was only sent to NBC.

Thankfully, the NBC team refused to run the story because it came in about two hours before the 20:00 news bulletin, hence there was not sufficient time to put it together.

To add insult to injury, this statement was an attempt to sugar-coat Dr Hengari's role in the unfortunate Covid-19 briefing at State House on 28 August when no media was allowed.

Dr Hengari on several occasions pressured NBC to influence the structure of reports

involving State House. This significantly compromises media professionalism and independence, which are key to being an objective, rational voice, and crucial to the ability to operate without fear or favour.

Absence of media

Lastly, Your Excellency, you had to, on two occasions, ask for clarity regarding the absence of the media at two separate Covid-19 briefings. The one occasion was when you asked why the press secretary was asking questions on behalf of the media, and it was clear that you did not know that the press secretary decided on his own, without consultation, to not have media at the briefings and for journalists to rather ask questions through him.

Dr Hengari on that day used his own discretion on what questions to ask and what questions to simply leave out.

Dr Hengari on Friday, 28 August, failed to truthfully disclose to you why the media was not present at the scheduled Covid-19 media briefing - a situation which clearly sought to undermine the president. This episode exposed how Dr Hengari fails to consult with stakeholders before making last-minute decisions that affect our operations.

The press has previously opposed numerous media policies and strategies influenced by Dr Hengari. This includes his decision to selectively issue media statements to some news organisations.

He may view his actions as a way to hold the media to account, but the truth is, these actions do not reflect well on press freedom in Namibia.

Not beyond reproach

We know, Mr President, that our letter will be misconstrued by some as a tactic to resist any form of criticism towards the media, but we can assure you that as media practitioners, we are well aware that we are not beyond reproach. We accept criticism when warranted and subsequently take corrective measures when called upon to do so.

As press secretary, Dr Hengari is supposed to create better working relations with the media. He, of all people, should understand the dynamics of the media and how best to effectively push your message to the public.

Finding middle ground

What we have done so far to find middle ground. The media has on numerous occasions tried to engage Dr Hengari to iron out the differences between the presidency and the media. These efforts were, however, always met with sarcasm and condescension.

In the past, NBC's senior management also had official engagements with the press secretary to discuss issues around the operations of the broadcaster. Those in attendance have narrated how evasive and abrasive Dr Hengari was towards criticism.

The most recent incident was right after the latest Covid-19 briefing, when the media asked Dr Hengari, on the official Namibian presidency WhatsApp group, why the media was excluded from the briefing and why he claimed the media was consulted and consensus was reached that the media would follow a livestream.

We wanted to engage in an honest conversation on how these sessions can be better carried out in the future. This was, however, met by a supercilious Dr Hengari who turned the entire discussion into a mockery and accused journalists of being “WhatsApp Warriors”.

Instead of apologising for being untruthful regarding the absence of the media at last week's briefing, and accepting proposals on how to improve the situation, the calls to do better were met with facetious humour.

Take action

We, the undersigned press corps of Namibia, therefore, resolve that:

You as the appointing authority take remedial actions, as you deem fit, to ensure that Dr Hengari respects and upholds press freedom as guaranteed in Chapter 3 (Article 21) of the Namibian Constitution. We also expect his nonchalant attitude towards the media to be addressed and that he be reminded of his duties as press secretary.

Any delay to rein him in will be perceived as an endorsement of his deceitful acts and failure to protect media freedom and the reputation of the highest office in the country.

A great Namibian house depends on having sunlight on its leaders.

Concerned journalists:

Jemima Beukes, Mathias Haufiku, Tileni Mongudhi, Helvy Shaanika, Ndapewoshali Shapwanale, Charmaine Ngatjiheue, Da'oud Vries, Edward Mumbuu, Sakeus Iikela, Shinovene Immanuel, Tiri Masawi, Timo Shihepo, Augetto Graig, Johnathan Beukes, Lee Garises, Ester Mbathera, Rochelle Cornelius, Marco Ndlovu, Rudi Bowe, Robert Maseka, Donald Matthys, Kenya Kambowe, Hesron Kapanga, Jeaneth Haipare, Clifton Movirongo, Lydia Pitiri, Okeri Ngutjinazo, Yokany Oliveira, Arlana Shikongo, Karin Eloff, Denver Kisting, Emil Seibeb, Shelleygan Petersen, Timo Andreas, Clemans Miyanicwe, Nandigolo Nakambale, July Nafuka, Kaipaherue Kandjii, Daniel Nadunya, Isidor Shafovino Shilongo, Mericah Maekopo, Elmarie Kapunda, Andrew Kathindi, Frances Shahaama, Elifas Bonifatius, Jonas Mbambo, Brigitte Weidlich, Luqman Cloete, Jo-Maré Duddy, Selima Henock, Floris Steenkamp, Justicia Shipena, Francoise Steynberg, Hileni Nembwaya, Charlotte Nambadja and Limba Mupetami.

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Prince Harry and Meghan Markle sign multi-year Netflix deal

September 3, 2020, 3:00 pm

≫ Next: Keeping it real

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Prince Harry and Meghan Markle sign multi-year Netflix deal

IOL ENTERTAINMENT

Prince Harry and Meghan Markle will make documentaries, feature films, scripted television shows and children's series for Netflix.

After pitching movie and television plans around Hollywood, the couple, who moved to California earlier this year, signed a multi-year deal with the streaming giant.

“Our lives, both independent of each other and as a couple, have allowed us to understand the power of the human spirit: Of courage, resilience, and the need for connection,” Variety quoted Meghan and Harry's statement.

“Through our work with diverse communities and their environments, to shining a light on people and causes around the world, our focus will be on creating content that informs but also gives hope. As new parents, making inspirational family programming is also important to us, as is powerful storytelling through a truthful and relatable lens. We are pleased to work with Ted and the team at Netflix, whose unprecedented reach will help us share impactful content that unlocks action,” the statement further read.

Close to their hearts

The duo will be focused on creating a wide variety of series about stories and issues that are close to their hearts, such as those that their newly formed non-profit, Archewell, will highlight.

Several projects are already in development, including a nature docuseries and an animated series focused on inspirational women.

They also want to highlight diverse voices in front of and behind the camera, and are committed to diverse hiring practices for key roles at their production company, as per a source familiar with the deal.

Inspiring millions

“Harry and Meghan have inspired millions of people all around the world with their authenticity, optimism and leadership. We are incredibly proud they have chosen Netflix as their creative home - and are excited about telling stories with them that can help build resilience and increase understanding for audiences everywhere,” added Netflix co-CEO and chief content officer, Ted Sarandos.

Meghan, who previously acted in the 2011 released drama 'Suits', briefly returned to Hollywood to narrate the Disney Plus documentary 'Elephants'.

Harry had previously worked with film-makers behind the documentary Rising Phoenix, which premiered on Netflix last week.

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Keeping it real

September 3, 2020, 3:00 pm

≫ Next: Antany Knows pays tribute to women in latest music video

≪ Previous: Prince Harry and Meghan Markle sign multi-year Netflix deal

Keeping it real Since tjil successfully went digital and introduced new platforms and ways to get entertainment content to the masses, the brand has been transcending and catering to a diverse audience.

What I appreciate about this arrangement is how everyone is catered for at tjil - those who are into watching music videos have tjil TV with its daily themed playlists, and then we have tjil sessions, monthly editions, daily entertainment news on the website and social media as well as this weekly entertainment page.

I am happy to announce that the September edition of tjil is cooking. It's a new month and season, so look forward to an exciting edition.

michael@namibiansun.com; @MichaelMKAY on Twitter

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Antany Knows pays tribute to women in latest music video

September 3, 2020, 3:00 pm

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≪ Previous: Keeping it real

Antany Knows pays tribute to women in latest music video• Monochrome mayhem On top of releasing a new music video recently, Antany Knows announced that he has a new project in the pipeline.

MICHAEL KAYUNDE

WINDHOEK

Complementing his single Late Shift off his 2020 mixtape, Thoughts of a Dreamer, award-nominated musician Antany Knows teamed up with Reggie Films for his latest video starring a plethora of Namibian women.

A monochromatic offering that takes viewers back to the 90s, the video has received overwhelming praise for its art direction and aesthetic. In an interview with tjil, Antany Knows mentioned that the concept for the music video and song is based on women empowerment.

“When the song was nominated for best hip-hop/rap at this year's Namibia Annual Music Awards, I knew the video had to be something special,” he said.

'Exodus' coming soon

On his 2020 body of work, Antany Knows shared that Thoughts of a Dreamer, released at the beginning of this year, is available on SoundCloud, adding that the project is a collection of views he has about what's going on around him and what he wants to be one day.

“This is also leading up to my latest project I'm working on, 'Exodus', which will be dropping in a month's time.

“I feel this will be my best work so far,” the musician said.

'I won't let 2020 win'

He said the Covid-19 pandemic has been tough not only financially but also mentally, adding that he had big plans for this year.

“I felt this would have been my year to make it, with all the plans and shows I had lined up, [they] all got cancelled.

“But I won't let 2020 win. I got something coming for all you all,” he assured.

Besides music, the musician shared he has been keeping sane by writing and coming up with skits.

“I also shoot web series and write short stories. In my spare time, I record gameplay videos and upload them to my Instagram.”

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