Namibian Sun

Vaccinated northern chiefs urge subjects to follow suit

TUYEIMO HAIDULA

OSHAKATI

Communities often look to traditional and religious leaders for advice on how to live. In northern Namibia, these leaders are stepping to the fore by getting vaccinated for Covid-19, and are asking their subjects to follow suit.

Ondonga King Fillemon Shuumbwa Nangolo said he and his team have been fully vaccinated. He made the statement when he handed over 20 oxygen concentrators - valued at N$360 000 - to the Onandjokwe Hospital last month, a donation from the Ondonga Traditional Authority.

Nangolo recently warned his subjects by sending letters to district coordinators as well speaking on radio, saying Covid-19 is on the increase in the wake of Namibia battling the third wave. He mentioned Namibians have a choice regarding which vaccination they prefer as nurses explain the available options.

“Covid-19 is getting intense and hospitals do not have spaces or oxygen and people are dying in corridors. I am pleading to my people to follow the protocols put in place by government. Secondly, please go and get vaccinated so that we can save our lives and those of our loved ones,” he stressed.

Nangolo said while no law forces people to get vaccinated, he is pleading with his subjects to spread the message so they can save lives.

“Do not spread misconceptions that the vaccine is dangerous because it is there to save our lives so we can lead you. If we find ourselves unvaccinated, people will die and us as leaders we will have no one to lead. Or anyone to assist us in leading. If you then so wish to not get vaccinated, follow the traditional ways to avoid getting infected and the ways put in place by health authorities,” he said.

A vaccinated queen

Oukwanyama Traditional Authority spokesperson Dengeinge Sheya told Namibian Sun that the Queen of the Oukwanyama Traditional Authority, Martha Mwadinomho yaKristian Nelumbu, has also been vaccinated.

Sheya said he has also gotten the jab along with other traditional leaders.

He said they have been encouraging their subjects to get vaccinated through the ward headmen, instructing them to tell village leaders as well as headmen and -women to encourage everyone in their communities to get vaccinated.

“This is the only way we can save our lives and those of our people. They should spread the message as the queen has emphasised,” he said.

‘Together we can do better’

It is unclear whether Ombalantu Traditional Authority, Chief Oswin Shifiona Mukulu, has received the jab, but the authority’s spokesperson, Isdor Angula Kanelombe, told Namibian Sun yesterday that Mukulu has consistently sent out messages for his subjects to get vaccinated.

For his part, Kanelombe confirmed that he – as well as other traditional leaders - have been vaccinated.

He added that they have been spreading the vaccine message through district head and ward head.

“We also speak to people during the memorial services and funerals. When we send through messages of condolences, we reiterate the message from the health ministry on the importance of the vaccine. Together we can do better,” he said.

– tuyeimo@namibiansun.com

MTC shares ‘not for elites’Jooste says listing is to broaden economic empowerment The public enterprises minister has debunked talks that powerful and politically connected hawks are lining up to grab shares in one of the government’s most profitable conglomerates.

OGONE TLHAGE

WINDHOEK

Public enterprises minister Leon Jooste says government is not using MTC’s Initial Public Offering (IPO) as an opportunity to place shares of the highly sought-after entity into the hands of wealthy and politically connected individuals, but as a means to broaden its ownership.

Namibian Sun has it on good authority that the listing has been approved, paving a way for the mobile telecommunications giant to shed some of its stake to non-state owners.

Government had mooted the sale of MTC shares on the Namibia Stock Exchange (NSX) as far back as 2016, while the second phase of the Harambee Prosperity Plan (HPP II) outlined raising as much as N$3 billion from its sale to go towards government’s debt reduction initiatives.

Government had received N$1.72 billion in dividends alone from MTC from the period 2016 to 2020, according to information contained in the company’s annual reports.

MTC has also been instrumental in making various infrastructural investments in the telecommunications sector as demonstrated through its 081Nation project in which over N$1 billion had been targeted at improving its national network.

But talk is rife that powerful individuals are pushing for the listing to get the nod so that they can use their financial muscles to lay their hands on the lucrative state entity.

As such, these individuals have apparently been advising government to relax its grip on the telecommunication sector and allow private players into that space.

This has left many Namibians wondering why government is reducing its stake in arguably the country’s most profitable state-owned entity.

For example, the company declared N$569.5 million dividends for the financial year 2019/2020, compared to N$2.7 million declared by its sister company Telecom Namibia.

‘Completely false’

“The allegation that the shares are targeted by ‘highly connected, high net worth individuals’ is completely false,” Jooste told Namibian Sun yesterday.

“In fact, the second IPO objective is to broaden economic empowerment through ownership by ordinary Namibian citizens in a profitable public entity,” the minister added of government’s rationale to sell shares in its golden goose.

According to Jooste, listings done in the past indicated that institutional investors such as the Government Institutions Pension Fund (GIPF) and asset management companies often bought the biggest portions of shares on offer.

“The past four IPOs in Namibia have shown that the institutional investors accounted for between 69% and 83% of investments, with the retail (public) representing the balance. The institutional investors are pension and unit trust funds and, therefore, represent broad-based representation,” he said.

The IPO would also be the biggest in Namibia once MTC is listed, according to Jooste.

Retaining controlling stake

“This will … create an attractive opportunity for the institutional investors to invest in a local - rather than foreign – assets, thereby retaining these investments in our domestic economy,” the minister said.

Government plans to retain a controlling 51% stake in MTC when the mobile operator is listed on the local bourse, leaving 49% of the company’s shares up for grabs.

GIPF, which has previously shown interest in buying into the company, will be allotted a 20% stake in the mobile operator as an institutional investor, with MTC staff also expected to be allocated shares under an employee benefit scheme.

According to the Fiscal Strategy for 2021/22 to 2023/2024 Medium Term Expenditure Framework, MTC is valued between N$6 billion and N$7.2 billion. MTC will become the first state-owned enterprise to be listed on the NSX.

LPM changes tone on judiciary after court victory

JEMIMA BEUKES

WINDHOEK

The Landless People’s Movement (LPM) has lauded the country’s judiciary - which it has so often accused of being captured by the ruling Swapo party.

Following the suspension of its leaders Henny Seibeb and Bernadus Swartbooi from the National Assembly in April, the LPM continuously claimed that “Swapo’s corrosive political interests captured the judiciary”.

The party has since changed its tone following its win yesterday, after the Supreme Court nullified a High Court order suspending the two lawmakers from the National Assembly.

The country’s apex court ruled that National Assembly Speaker Peter Katjavivi had no business instituting disciplinary action against members of Parliament and that he should instead be occupied with maintaining order in the house.

Swartbooi, at a press conference held after the court delivered the judgement, said they are pleased with the outcome, adding that “because of the work LPM has done to break open democratic spaces, judges feel free to make bold judgments”.

“This decision is a political decision for us. The courts have done well to first defend the principle when an individual seeks an interpretation of constitutional rights, that such an individual should not be given punitive judgments. It was Swapo’s intent to take us out for 10 months and have a backlash against LPM,” Swartbooi said.

He added that Katjavivi was hell-bent on profiling them as a violent pair “who pose a fundamental threat to all political parties in Parliament”.

He also accused Katjavivi, together with Popular Democratic Movement (PDM) leader McHenry Venaani, of conspiring to keep them out of parliament.

‘Where is the evidence?’

According to Swartbooi, LPM campaigned fiercely to help Venaani get elected as the deputy chair of parliamentary standing committee on privileges and immunities “in order to bolster the power of the multi-party demonocracy”.

“Venaani was elected, the same McHenry Venaani now sits in judgement of those who helped him get there. Even when a gun was planted, these people cannot come over and say our morality does not allow us to be part of a cacophonic attempts,” he said.

Venaani denied that there is any truth in Swartbooi’s statement, adding that it is – instead – a confused attempt to label people without facts.

“I have had enough of Swartbooi and his tirades and calling other people names without justification and without any evidence. Swartbooi has not served in the privileges committee; he never appeared before it, he came only once there. How does he know I am conspiring?

“Where is the evidence? If there is any person who gives tough time even to the chairperson on the question of suspending elected members of Parliament indefinitely, the record is there. History will absolve me. There is no benefit for PDM to conspire with Swapo,” Venaani said.

Throwback

In May, during President Hage Geingob’s State of the Nation Address (SONA), Katjavivi threw Swartbooi and Seibeb out of Parliament for peppering the president with questions about the controversial purchase of resettlement farms from Prime Minister Saara Kuugongelwa.

Katjavivi ordered Swartbooi to leave the chambers, but he dared the Sergeant-at-Arms to drag him out and when he did, Swartbooi threw down the mace.

A few minutes later, Seibeb tore up the Harambee Prosperity Plan (HPP) as a sign of contempt and was dragged out by the president’s bodyguard.

The same month, the High Court dismissed, with costs, a case in which Swartbooi and Seibeb challenged Katjavivi’s decision to block them from attending Parliament.

Speaker cannot discipline

In his judgement, Judge Dave Smuts explained that the Speaker’s powers under the Standing Rules relating to disciplining members are limited to governing the conduct of members and ordering them to withdraw from the house.

He may, however, not institute disciplinary action against MPs and should instead report the matter to the Privileges Committee and recommend a seven-day suspension, and eventually 14 or 21 days’ suspension.

He went on to say that neither the rules nor the Act provide for the suspension of members pending committee hearings in express terms, and also dismissed Katjavivi’s reliance on the term ‘unforeseen circumstances’.

“The power to suspend indefinitely can in no sense be reasonably ancillary to the Speaker’s powers when taking into account how the legislature intended disciplinary powers to be wielded. In circumstances of a grave disorder, the Speaker is authorised to adjourn the assembly for a period to be stated by him.

This would afford the committee to refer the issue to the Committee of Privileges to attend to it with due speed and make a recommendation to the House,” he said.

jemima@namibiansun.com

COMPANY NEWS IN BRIEF

Discovery revenue beats estimates

Discovery Inc beat Wall Street expectations for second-quarter revenue on Tuesday, buoyed by higher paid streaming subscriber additions.

Discovery benefited from the ongoing Tokyo Olympics, seeing more subscribers and higher advertising sales on its network during the second quarter. International advertising sales also rose 88% during the quarter, it said.

Revenue rose about 21% to US$3.06 billion in the quarter ended June 30, edging past estimates of US$2.99 billion.

The results come at a time when the Animal Planet and TLC-owner is combining with AT&T's WarnerMedia unit to create a new media business, seeking scale to take on streaming rivals such as Netflix Inc and Walt Disney Co.

Total paid streaming subscribers globally stood at 17 million at the end of the second quarter. Net income more than doubled to US$672 million, or US$1.01 per share. -Nampa/Reuters

DHL orders 12 Eviation planes

DHL Express has ordered 12 electric cargo aircraft from start-up Eviation for delivery in 2024 and plans to build the world's first electric air cargo network, the unit of German logistics group Deutsche Post said on Tuesday.

DHL Express said in a statement that it was the first company in the world to order "Alice" aircraft from Eviation, adding it planned to establish the first electric air freight network in a step towards sustainable aviation.

"We strongly believe in the zero-emission future of logistics," said John Pearson, CEO of DHL Express. "Together we are venturing into a new decade of sustainable aviation."

DHL said Eviation expects to make a maiden flight later this year and plans to deliver the cargo aircraft to DHL in 2024.

It said "Alice" can be flown by a single pilot and carry over 1 200 kgs of cargo. The charging time per flight hour is approximately 30 minutes, and the maximum range is 815 km.

Eviation, owned by Singapore's Clermont Group, is one of a number of companies looking to develop small electric aircraft that would incur lower energy and operating costs, release less emissions and be quieter than conventionally fuelled planes. -Nampa/Reuters

StanChart pre-tax profit leaps 57%

Standard Chartered PLC posted a 57% jump in its first-half pre-tax profit, higher than expected, as the bank benefited from an economic recovery from the coronavirus pandemic.

The bank also announced a US$250 million share buyback and resumed interim dividend payments worth US$94 million, or 3 cents per share.

Statutory pre-tax profit for StanChart, which focuses on Asia, Africa and the Middle East, rose to US$2.55 billion in January-June from US$1.63 billion in the same period last year, the London-headquartered bank said in a stock exchange filing.

The latest profit compared with the US$2.23 billion average of analyst estimates compiled by Standard Chartered. -Nampa/Reuters

BP boosts pay-outs after profit jump

BP boosted its dividend and share buybacks after beating expectations with a US$2.8 billion second-quarter profit powered by higher oil prices and recovering demand.

The strong results, underpinned by higher sales at petrol stations, bolster BP's plan to shift away from oil and gas to renewable and low-carbon energy in an effort to battle climate change, CEO Bernard Looney told Reuters.

"The strengthening of the balance sheet and the excess cash flow allow us to prosecute our agenda around the energy transition," Looney said.

Rivals including Royal Dutch Shell, TotalEnergies and Chevron also boosted shareholder returns last week, reflecting a recovery from the pandemic which saw energy demand plummet.

BP increased its dividend by 4% to 5.46 cents after it was halved to 5.25 cents in July 2020 for the first time in a decade.

BP also plans to repurchase US$1.4 billion in shares in the coming months after generating surplus cash of US$2.4 billion in the first half of the year, it said. -Nampa/Reuters

PepsiCo to sell Tropicana

PepsiCo Inc unveiled a US$3.3 billion sale of its Tropicana and other juice brands in North America to French private equity firm PAI Partners on Tuesday, as it looks to simplify its product range and move away from high-sugar drinks.

The company, which bought the orange juice maker in 1998 for roughly US$3.3 billion and US-based Naked Juice nearly a decade later for US$150 million, will keep a 39% stake in the new joint venture and have exclusive US distribution rights for the brands.

The sale will give PepsiCo the funds to develop and grow its portfolio of health-focused snacks and zero-calorie beverages, Chief Executive Officer Ramon Laguarta said, as the company focuses on more profitable brands.

Rival Coca-Cola Co has also been streamlining its product range over the past year, discontinuing its TaB diet soda and Coca-Cola Energy brands in the United States and selling its ZICO coconut water brand.

"Companies are finding it difficult to provide effective marketing support behind an infinite number of brands that often compete for very similar occasions," Rabobank Food and Beverage analyst Stephen Rannekleiv said in May. -Nampa/Reuters

Nigerian doctors begin strike over salaryAfrica's most populous country Nigerian doctors frequently strike over what they say are poor conditions of service. The strike had started early on Monday and that the government had not reached out to the union since it gave notice of the job action. Okhuaihesuyi Uyilawa, President: NARD

CAMILLUS EBOH

Resident doctors in Nigerian public hospitals began an indefinite strike on Monday over grievances that include the delayed payment of salaries and allowances, the doctors' union said, as the country faces rising Covid-19 infections.

Nigerian doctors frequently strike over what they say are poor conditions of service. Last year they walked out from their jobs three times, including over demands for an allowance for treating coronavirus patients.

Okhuaihesuyi Uyilawa, president of the National Association of Resident Doctors (NARD), said the strike had started early on Monday and that the government had not reached out to the union since it gave notice of the job action.

Asked whether the strike would affect the Covid-19 vaccination drive, Uyilawa told Reuters in a mobile phone message: "Hunger is worse than Covid-19. We have lost 19 members to Covid-19, with no death-in-service insurance."

A ministry of health spokesperson said he would try to provide comment later on Monday. Nigeria has seen a rise in Covid-19 cases since mid-July. Some 174 315 cases and 2 149 deaths have been recorded since the outbreak last year, official data shows.

In a communique issued on Saturday, after a meeting of its national executive council, NARD said salary shortfalls stretching over months, failure to pay some doctors Covid-19 allowances and shortages of manpower in hospitals were among the reasons that had pushed its members to strike.

Lagos state said the decision by the doctors was hasty and appealed for restraint from NARD doctors in the state.

Resident doctors are medical school graduates training as specialists. They are pivotal to frontline healthcare in Nigeria as they dominate the emergency wards in its hospitals.

Uyilawa said his union represented 16 000 resident doctors out of a total of 42 000 doctors in Africa's most populous country. - Nampa/Reuters

Rwanda raises millions through a Eurobond

Rwanda raised US$620 million through a 10-year Eurobond, the finance ministry said late on Monday, part of which will go towards retiring an outstanding dollar bond.

Like global economies, the East African nation has experienced a surge in public debt in the wake of the coronavirus crisis, which hit revenues and forced the government to borrow more.

Total debt climbed by 13% last year, driving the overall level to 71% of Gross Domestic product (GDP), which is expected to jump to 79.7% at the end of this year, the finance ministry said in May.

Still, investors piled into the latest issue, offering US$1.6 billion in total. The eventual interest rate for the bond was 5.5%, the ministry said.

"The lower yield of this issue will result in a reduction in our annual interest payments over the next 10 years, strongly contributing to our debt sustainability strategy," said the central bank governor, John Rwangombwa.

Bond proceeds will be used to pay off creditors of the existing Eurobond when it matures in May 2023, while the rest will fund economic recovery programs.

The government predicts that the economy will grow by 5.1% this year, after contracting by 3.4% last year, as the Covid-19 pandemic starts to ease. -Nampa/Reuters

IMF approves increased lending capacityAssisting vulnerable countries For poorer countries, the interest is also to obtain hard currencies without having to pay substantial interest rates. It will particularly help our most vulnerable countries struggling to cope with the impact of the Covid-19 crisis. Kristalina Georgieva, Head: IMF

The board of governors of the International Monetary Fund (IMF) on Monday greenlit increasing the institution's lending capacity by US$650 billion, the last step in approving an initiative to boost aid to the most vulnerable countries.

"This is a historic decision the largest Special Drawing Rights (SDR) allocation in the history of the IMF and a shot in the arm for the global economy at a time of unprecedented crisis," IMF head Kristalina Georgieva said in a statement.

"It will particularly help our most vulnerable countries struggling to cope with the impact of the Covid-19 crisis," she said.

The program, which had already been approved by the IMF's executive board in mid-July, will be implemented on August 23.

Newly issued SDRs will be allocated to member countries in proportion to their IMF quota, the lender said. Emerging and developing nations are to receive around US$275 billion in total.

But "we will also continue to engage actively with our membership to identify viable options for voluntary channelling of SDRs from wealthier to poorer and more vulnerable member countries to support their pandemic recovery and achieve resilient and sustainable growth," Georgieva said.

Wealthy countries could, for example, transfer their SDRs by using those attributed to them to finance the IMF's Poverty Reduction and Growth Trust Fund, which would increase the supply of loans to low-income countries. The NGO Oxfam welcomed the IMF's decision.

Debt

The "new SDRs will bring much-needed liquidity to struggling developing countries without adding to their unsustainable debt burdens," Nadia Daar, head of the Washington-based NGO, said in a statement.

It is "unfathomable that wealthy nations would fail to reallocate a substantial portion of their SDRs at least us$100 billion as agreed by the G7" at a mid-June summit, she said.

It is also necessary for governments to "work transparently and together with civil society" so that SDRs are used wisely, Daar added.

Created in 1969, SDRs are not a currency and have no material existence. Their value is based on a basket of five major international currencies: the dollar, the euro, the pound, the renminbi or yuan and the yen.

Once issued, SDRs can be used either as a reserve currency that stabilizes the value of a country's domestic currency, or converted into stronger currencies to finance investments.

For poorer countries, the interest is also to obtain hard currencies without having to pay substantial interest rates. - Nampa/Reuters

Ivory Coast to build 200 MW LNG plant

Ivory Coast is in talks to build a 200-megawatt power plant fuelled by liquefied natural gas (LNG) as it seeks to avoid outages that rocked the country earlier this year, Mines and Energy Minister Thomas Camara said on Tuesday.

A prolonged dry season reduced water levels at hydropower dams in May, leaving households and businesses without power as well as cutting supplies to neighbouring West African countries including Mali.

Camara said flows had returned to normal since July 9, while exports had risen as of this week.

"We have taken steps to ensure that this circumstantial situation does not repeat itself," he told a news conference, announcing the plan for the LNG plant.

The ministry will share further details on the cost and timeframe for the plant's construction once discussions are concluded, he said.

The outages in May were a result of a generation deficit of about 200 MW, or nearly 10% of the national power company's 2 230 MW capacity, its director general said at the time. -Nampa/Reuters

Carlsberg partner urges better governance

ADITYA KALRA

Carlsberg's warring partner in its India joint venture urged the Denmark-based brewer to boost governance standards, saying it has had "grave concerns" for years over operations in the south Asian nation.

Since at least 2019, the partner, Nepal-based Khetan Group, and Carlsberg have been embroiled in a commercial dispute, amid an internal inquiry into the brewer's local practices that sparked a boardroom battle.

In its first public comment since the dispute began, the Khetan Group's holding firm, CSAPL Holdings Pte Ltd urged Carlsberg "to honour its obligations to improve governance and act in the long-term interests of the business".

Suspected governance issues prompted the resignation of Carlsberg India's auditor and the launch of an inspection of its financial accounts by Indian authorities, the joint venture partner added in its statement.

It has previously blamed the auditor's decision to quit last year on "highly disruptive" side-effects of the commercial conflict with its joint venture partner.

Reuters reported the auditor's resignation in November, after the firm, an affiliate of PriceWaterhouseCoopers, had declined for two successive years to give an opinion on the joint venture's financials.-Nampa/Reuters

South Africa's farmers cash in on truffle betLocal restaurants benefiting The most prolific of the orchards yields close to 10 kilogrammes of truffles per hectare each season, which spans South Africa's coldest months from June to August. We looked at where truffles are grown in the rest of the world and it's in the northern hemisphere, about 32 to 35 degrees north. Volker Miros, Farmer: South Africa

SAAWMIET MOOS AND RODGER BOSCH

Only shrubs grew naturally in the sandy acid soil that farmer Volker Miros chose as a site to test the potential for truffle production in South Africa.

The determined mycophile saw no reason why the highly prized fungi could not grow on the plateaus of South Africa's rugged Cederberg mountains in the west of the country, where the climate is similar to that of Mediterranean Europe.

"We looked at where truffles are grown in the rest of the world and it's in the northern hemisphere, about 32 to 35 degrees north," said the white-bearded Miros, wearing a black beanie on a chilly winter day.

"The same thing needs to be looked at 35 degrees south" where the family farm lies around 1 100 metres above sea level, he said.

Miros, 81, who picked mushrooms with his grandfather as a child in Germany, is a pioneer of South Africa's budding truffle cultivation industry.

In 2009, he imported spores of the French Perigord variety touted as the "black diamond" of the culinary world and used them to inoculate the roots of oak seedlings that were then planted in the area.

After six years of trial and error, and tonnes of calcitic lime to counter the soil's acidity, the first truffles were finally unearthed.

Today the family is South Africa's number one Perigord grower and supplier, with almost 100 hectares of truffle orchards planted not only in the Cederberg region but also in other pockets of the country with similar climates.

The most prolific of the orchards yields close to 10 kilogrammes of truffles per hectare each season, which spans South Africa's coldest months from June to August.

Challenges

"We were the crazy farmers on top of the mountain," Miros's son Paul chuckled, squinting in the winter sunlight as he looked over neat rows of inoculated oak trees and shrubs surrounded by snowy peaks.

A dog sat obediently by his side, having recently uncovered a tuber the size of a tennis ball.

The highest quality Miros truffle sells for R20 000, almost at par with the European market rates. Most buyers are local high-end restaurants that have only recently started to incorporate the delicacy into their dishes.

"People in South Africa don't know truffles that well," said Paul Miros, 56, likening their taste to "the smell of a wet forest floor".

"One of our biggest challenges was getting people to buy truffles in their fresh state, because they only last about three weeks out of the ground," he noted. "It needs a proper chef who understands how to cook with it," he added.

A small but growing number of restaurants have worked the pungent tuber into their menus, conquering delighted customers with fresh truffle pastas and buttery potato dishes.

Paul Miros, who relishes experimenting with truffles in the kitchen, swears by a more unusual pairing.

"I like making vanilla ice cream with a little bit of truffle in it," he said. "That creamy texture really carries the truffle flavour excellently."- Nampa/AFP

Namibia gained billions in export earningsMining activities showing green shoots Namibia recorded a trade deficit to the tune of N$987 million indicating a narrowing gap when compared to the deficit of N$3.2 billion in May 2021. We believe as mines restart production after care and maintenance programmes are completed, the trade deficit should improve. Simonis Storm (SS)

PHILLEPUS UUSIKU

Namibia gained about N$3.2 billion in export earnings in June 2021. The value of exports stood at N$8.6 billion when compared to N$5.4 billion recorded in May 2021. Similarly, when compared to its level of N$7.6 billion in June 2020, exports rose by 14.1%, trade statistics released by the Namibia Statistics Agency (NSA) indicated.

Imports stood at N$9.6 billion, strengthening by 11.4% on monthly basis while an annual increase of 25% was observed from its June 2020 level of N$7.2 billion.

Subsequent to the developments in exports and imports, Namibia’s total merchandize trade with the rest of the world grew by 29.6% from its May 2021 level of N$14.1 billion to N$18.2 billion recorded in June 2021. Similarly, total trade registered further improvement of 24.3% when compared to the N$14.8 billion recorded in June 2020, NSA pointed out.

During the month under review, Namibia recorded a trade deficit to the tune of N$987 million indicating a narrowing gap when compared to the deficit of N$3.2 billion and a surplus N$338 million recorded in May 2021 and June 2020, respectively, NSA said.

Markets

Namibia’s top five export partners largely remained the same as in the previous month with Belgium making it to the list as a new entrant. These top five markets accounted for 73.6% of Namibia’s total exports, up from the 60.6% in May 2021 and from 55% recorded June 2020, respectively.

China emerged as the main export market for the country, absorbing 35.4% of all goods exported, ahead of South Africa in the second place whose market share of Namibia’s exports stood at 14.9% of total exports. Netherlands claimed the third position to account for 11.4% while Belgium and Spain occupied the fourth and fifth positions with respective shares of 6.5% and 5.4%, NSA said.

Uranium was Namibia’s largest export commodity during the month under review, accounting for 33.3% of total exports mainly destined to China with a small amount absorbed by Canada. This was followed by copper which accounted for 25.8% of total exports destined mostly to Netherlands, China and Belgium. Precious stones mainly diamonds and fish occupied the third position after absorbing 9.8 percent each of Namibia’s total exports, NSA added.

According to Simonis Storm, “we believe as mines restart production after care and maintenance programmes are completed, the trade deficit should improve owing to increased global factory orders, positive business sentiment and manufacturing expansion signalled by elevated global manufacturing purchasing managers indices. Elevated commodity prices are also expected to favour Namibia’s export earnings going forward.”

Transport

During the month of June 2021, exports amounting to N$6.3 billion, representing 73% of total exports left the country by sea. This translated into an increase of 102.5% when compared to the value of N$3.1 billion of goods exported in May 2021. Furthermore, an increase of 107.9% was noted when compared to its level of N$3 billion recorded in June 2020. Air and road transportation accounted for 13.7% and 13.2% of total exports, respectively, NSA pointed out.

In terms of tonnage, the month under review saw about 115 998 tons of goods leaving Namibia by sea. This is an improvement from its May 2021 level of 99 492 tons and from the level of 107 803 tons registered in June 2020. About 105 202 tons of goods left the country by road compared to 78 030 tons registered in the previous month and from 101 746 tons recorded in the same month last year. Whereas only 267 tons left the country by air after registering 300 tons in May 2021 and 23 tons in June 2020, NSA said.

Botha’s sacrificeWith great sacrifice comes big rewards Henk Botha’s brother has revealed how the coach’s family had to vie for his attention as he dedicated his life to grooming Beatrice Masilingi and Christine Mboma to become the athletes they are now.

LIMBA MUPETAMI

WINDHOEK

Henk Botha, the coach of teenage sprint stars Christine Mboma and Beatrice Masilingi, went as far as neglecting his own family because of his unswerving dedication to grooming his protégés, his brother Jean-Pierre ‘JP’ Botha has said.

He says Henk’s daughter, who lives in the United States, has been visiting her parents for the last month but did not get to spend much time with her father in the run-up to the Olympic Games, as he was preoccupied with preparing Mboma and Masilingi for international stardom.

“He doesn’t see these two girls as athletes he works with. He sees them as his own children. He tries to do everything he can for them.

“Sometimes he gets sad because he hasn’t spent much time with his biological daughter who has been visiting for a month. He doesn’t mind this. But sometimes he is sad because he neglects her because of the dedication he has towards the two athletes.

“He would do anything for them and I’m sure they see him as a father figure as well. They have great respect for him and listen to him and that is where the magic comes from,” JP says.

Together as one

Botha’s friend and colleague Louise van der Merwe also shared some background information about the teacher-turned-coach.

“Botha will always be involved with and committed to the development of all children in our country. He is therefore still the CEO of Nova Stella Educational Institute, situated in Grootfontein. He is also responsible for the high-performance sport school we wish to establish.

“He is not just a colleague, but also a true friend. Together with his wife, he took in the girls. If that is not commitment, then I don't know what is. Without those two people's generosity and kind hearts, things would have been much different for the girls.

“I must commend him on the way he treats the girls. Nothing is ever too much and it is always done with a smile, a joke and a hug.

“He truly cares for the girls and it is clear that the feeling is mutual. We are a family which Botha and a pinch of fate have created. True teachers are born and then become addicts – Botha will never not be a teacher.

“You can ask the girls - they will tell you that he trains them and he teaches them how to be the best independent versions of themselves. To me, that is what we all should be doing in this country,” said Van der Merwe.

Zambezi’s finest Mr Makoya teams up with DJ Siya and DJ Vuyo on new song Titled ‘Lapele’, the single - which drops today on Donlu Africa and YouTube - is a prayer dedicated to the Zambezi Region.

MICHAEL KAYUNDE

WINDHOEK

Mr Makoya is gearing up for the release of his fourth solo album titled Son of The Soil later this year. To give fans a taste of what’s in the pipeline, the musician dropped a new single off the album today.

In an interview with tjil, Mr Makoya mentioned that the aim of the song is to inspire, motivate and get people in Zambezi Region to start working together. “This is amidst the infighting, tribal differences and killings we have experienced recently as a region,” he said.

Sonically, he describes the song as Afropop with a traditional feel.

On how the track was composed, Mr Makoya said: “I call DJ Siya and DJ Vuyo the kings of Katima Mulilo. Me being the Kanye West of the region, we wanted to make a song that is impactful and not just another party song”.

On when the album will drop, Mr Makoya said if it was up to him, he would release it next week as production is done. “Hopefully we get back to hosting shows as marketing the album is important to me.”

Reducing parking lot collisionsBe cautious Where possible avoid parking areas fraught with opportunities for accidents. If your company has not already addressed parking lot accidents, now is the time. Eugene Herbert, CEO: MasterDrive

It is generally accepted that parking lot collisions account for 60% of crashes in the United States of America (USA).

According to Eugene Herbert, CEO of MasterDrive, collisions are often less serious but can still take a serious toll on your company’s bottom line.

Delivery schedules can be demanding requiring drivers to rush. “Use proper and realistic planning to ensure your drivers are not pressurised and rushed. Additionally, these demands can cause drivers to be distracted. Ensure you have a policy that teaches drivers to focus on one task at a time and use technology to help manage these distractions,” Herbert says.

Ensure your driver training includes parking lots. “Practice exercises such as cone drills. Intentionally use cones to make a practice parking spot too small or inadequate to park in. This will teach drivers when to identify a risky parking spot and when to rather look for another.”

In addition, teach drivers to get out and double check. “Get out and inspect your surroundings as much as needed. This is particularly important when manoeuvring into tight or difficult parking spots if other options are not available. It is also faster to get out and check than what it is to hit something,” the CEO added.

Part of the training and checking rules should include using driving assistants. “If you have two employees driving together, both should be trained in this role. They should get out of the vehicle and keep an eye on obstacles as the vehicle reverses into a spot.”

Moreover, reverse cameras can be useful in assisting with reversing. “This technology, however, should not be solely relied on. Their type, quality and various other factors affect their effectiveness. Reverse cameras can also miss certain objects such as cylindrical objects or hazards outside of their range.”

Lastly, where possible avoid parking areas fraught with opportunities for accidents. “Proper planning will help drivers avoid parking lots at their busiest times or select quieter petrol stations for refuels,”says Herbert. - MOTORPRESS

COMPANY NEWS IN BRIEF

Telkom appoints Taukobong as CEO

South Africa's third-biggest telecom company Telkom said on Wednesday it has appointed the head of its consumer business, Serame Taukobong to be group Chief Executive Officer designate with effect from October 1.

Taukobong, who is also a group Executive Committee Member, replaces Sipho Maseko who will step down at the end of June next year.

Taukobong joined Telkom in June 2018 and has extensive experience in telecommunications having spent about 10 years at rival MTN Group, where he held several senior roles which included Chief Operating Officer and later CEO of MTN Ghana, Telkom said.

As CEO of the Telkom Consumer Business, the mobile business customer base grew three-folds to 15 million and its revenue almost doubled to R20 billion within a three-year period, Telkom said.

"The Board, Group CEO and the Group CEO Designate remain committed to structurally separate Telkom and unlock value for shareholders," the partly state-owned operator added.-Nampa/Reuters

Hugo Boss seeks to double sales

New Hugo Boss chief executive Daniel Grieder set the ambitious target of doubling sales and ratcheting up profit margins on Wednesday, as the former head of Tommy Hilfiger stamped his mark on the German fashion house.

The German label, which had been struggling to revive its business for years before being hammered by the pandemic, reported a rebound in sales in the second quarter as lockdowns eased, particularly in Britain and China.

Under Grieder, the company aims to double sales to 4 billion euros (US$4.75 billion) from the 2 billion it slumped to in 2020 and restore its operating profit margin to 12% of sales by 2025, the same level it was at in 2019 before the pandemic.

The Swiss CEO, who took over the top job in June, said it was his ambition to make Hugo Boss one of the world's top 100 global brands including by spending more than 100 million euros on marketing between now and 2025.

When Grieder was in charge at Tommy Hilfiger, the US brand grew faster than Hugo Boss, posting sales of US$6.9 billion in 2020, far ahead of its German rival. Grieder had put a big focus on expanding online sales at Tommy Hilfiger. -Nampa/Reuters

GM raises full-year outlook

General Motors Co on Wednesday swung to a second-quarter profit from a loss last year when the Covid-19 pandemic shut operations, and raised its full-year forecast despite an $800 million hit from the recall of the Chevrolet Bolt electric vehicle.

Net income was US$2.8 billion, or US$1.90 a share, compared with a loss in the year-earlier quarter of US$806 million, or 56 cents a share.

GM said adjusted earnings before interest and taxes were a record US$4.1 billion, and US$8.5 billion in the first half. It boosted full-year EBIT-adjusted guidance to US$11.5 billion-US$13.5 billion, from the previous US$10 billion-US$11 billion.

The company expects to lose production of about 100 000 vehicles in North America in the second half, and anticipates commodity costs rising by US$1.5 billion-US$2.0 billion.

The largest of the Detroit automakers benefited from strong demand and the high prices it was able to charge for its popular trucks and sport utilities, which offset costs related to the Bolt recalls and production disruptions caused by shortages of semiconductors. -Nampa/Reuters

Marathon to process less crude

US oil refiner Marathon Petroleum Corp said it expects to process slightly less crude in the third quarter compared with the second, as the spread of the highly contagious Delta variant of the coronavirus has been threatening fuel demand recovery.

While refiners had ramped up crude processing in the second quarter as US gasoline and diesel fuel demand has nearly recovered to pre-pandemic levels, refined products are facing headwinds from rising fears the Delta variant could impact travel-related demand.

Marathon Petroleum forecast current-quarter throughput, the amount of crude processed, of 2.8 million barrels per day, compared with 2.9 million bpd in the second quarter ended June 30.

Marathon's rival Phillips 66, which also posted its first adjusted quarterly profit in more than a year, said on Tuesday market conditions in the third quarter would determine refinery utilization levels.

Refining and marketing margins rose 23% to US$12.45 per barrel in the second quarter, while crude capacity utilization rose to 94% from 83% in the first quarter. -Nampa/Reuters

DE Peet's posts profit

JDE Peet's reported on Wednesday better-than-expected operating profit for the first half of 2021, as growth in sales of coffee for home consumption offset an uneven restart for coffee shops due to the coronavirus pandemic.

Adjusted operating profit (EBIT) fell 1% to 636 million euros from the same period a year earlier which the company said was due in part to marketing costs and unfavourable exchange rates.

But revenue inched up 0.5% to 3.25 billion euros with sales for at-home consumption, usually coffee purchased at grocery stores, climbing 4.9% on a like-for-like basis.

Analysts had seen EBIT at 610 million euros and revenue at 3.28 billion euros, according to a company compiled poll.

The company, which owns a range of coffee and tea brands including Pickwick, Senseo, Tassimo, TiOra and L'OR, repeated a March forecast for organic sales growth of 3% to 5% for the full year and a "single-digit" increase in adjusted EBIT. -Nampa/Reuters

MTN business App winners of 2021 to win R1 Million Biggest ever prize money and unprecedented recognition up for grabs

Staff reporter

The annual MTN Business App of the Year Awards play a vital role in elevating local entrepreneurs and showcasing exciting new innovations within the ICT industry in South Africa. “To mark the milestone of ten years since the launch of the competition, this year’s prize money of R 1million, awarded to the overall best app for 2021, is by far the highest ever,” says Kholo Magagane, Head of Marketing, MTN Business.

The competition has seen a notable increase in the number of entries this year, but all those with great app ideas are urged to enter soon as the deadline for entries submissions is 9 August 2021.

Categories include Best Consumer Solution: Best Women in STEM (Science, Technology, Engineering and Math) Solution; Best Enterprise Solution; Most Innovative Solution; Best Gaming Solution; Best Health Solution; Best Agricultural Solution; Best Educational Solution; Best Financial Solution; Best Hackathon Solution; Best “South African” Solution; Best Campus Cup Solution; Best African Solution and Huawei Category 15.

Submissions close on 9 August 2021, after which a judging panel of leading tech experts will start the shortlisting process. Category winners as well as the overall winner will be announced at the MTN Business App of the Year Awards being held virtually on 16 September 2021.

To enter go to https://www.appoftheyear.co.za/submit/

Mask up properly, governor urges ADOLF KAURE

SWAKOPMUND

QKR Namibia Navachab Gold Mine donated more than 37 000 face masks - worth an estimated N$100 000 - to the Erongo health directorate for use by healthcare workers.

The donation was made through the office of the governor.

Speaking at the handover, governor Neville Andre said more awareness is needed to teach people how to wear masks properly. “We need to educate our people on how to wear masks. There are many people who don’t cover their noses when they wear their masks,” he said.

According to Andre, due to the recent lifting of travel restrictions between regions by President Hage Geingob, there could be influx of people to the Erongo Region. Some of these visitors could pose a health hazard, he said.

“We must be ready for this influx. The region’s leadership needs to strengthen efforts related to the enforcement of preventative measures,” Andre said.

He called on the Erongo business fraternity to make sure that preventative measures are adhered to at their premises.

Get the jab

The governor urged the regional leadership to intensify efforts in engaging the community about the importance of getting vaccinated and educating them on myths about the jab.

“Many people are reluctant to get vaccinated because of misinformation about the Covid-19 vaccine. About 90% of people who do not want to get the vaccine is as a result of misinformation. People need to approach their doctors to get the right information,” he said.

Andre thanked QKR Namibia Navachab Gold Mine for the donation and urged other corporates to emulate the generous gesture. “We are grateful that Navachab Gold Mine came on board. We want to go back to normality, but government alone cannot do it. We need the help of the private sector,” he said.

Meanwhile, the managing director of QKR Namibia Navachab Gold Mine, George Botshiwe, said the donation forms part of an effort by the mine to fight the spread of the virus.

“It is part of the role the mine plays in helping the health directorate and government at large in the fight against the Covid-19 pandemic.”

adolf@erongo.com.na

127 arrested for drugs in July ELLANIE SMI

WINDHOEK

The Namibian police seized various types of drugs last month valued at more than N$1 million, while 127 suspects were arrested in connection with drug-related matters.

Of these suspects, 114 were Namibian, six Zambian, four Congolese and three Angolan nationals.

According to the drug seizure and arrest report for the month of July, more than N$1.224 million in drugs were seized.

This included 117.87kg of cannabis, valued at more than N$1.178 million, 298 mandrax tablets worth N$34 680 and 9.21 grams of cocaine powder to the value of N$4 605.

Furthermore, 62 units of crack cocaine were confiscated, valued at N$6 200, while four Methyl?enedioxy methamphetamine (MDMA) capsules - commonly known as ecstasy, E, or molly - to the value of N$480 were also seized.

According to statistics from the Namibian police, from February to June, drugs to the value of more than N$17.5 million have been confiscated in Namibia, with 510 suspects arrested for drug-related crimes, of which 491 were Namibian.

Statistics for January were not available.

Governance issues plague MeatcoBohitile lifts the veil Former Meatco board member Clara Bohitile says her attempts to question the retrenchment of all staff older than 55 were quashed.

OGONE TLHAGE

WINDHOEK

Former Meatco board member Clara Bohitile says corporate governance standards are not adhered to at the company, and could threaten its sustainability.

Bohitile made the remarks in a resignation letter penned to public enterprises minister Leon Jooste. She said she had attempted to call several board meetings since 8 April to discuss planned retrenchments at the company, which all did not materialise.

The company in April proceeded to retrench employees who were aged 55 and above.

“I was not even aware that the process has gone that far. I was not in a position to have monitored the process and have exercised my oversight function as a director, because I didn't receive any updates on the process from management,” Bohitile said.

Her attempts to question the retrenchments further were quashed, she claimed.

“On the two occasions (15 April) when I attempted to raise my concerns, co-opted member (legal) Mr [Kishi] Shakumu advised that I could not speak, because there was no submission.

“On 27 May after submission, once again Mr Shakumu advised the board not to discuss my concerns, as retrenchments has already taken place, so [the] board could therefore not discuss and management did not respond to my concerns (sic),” Bohitile said.

She questioned why board members had not been informed accordingly about the retrenchments and only found out about it through the press.

“I felt strongly that not keeping the board continuously in the loop during the retrenchment process and the board members having to read in newspapers, just like any other Namibian, is total disregard for corporate governance,” she said.

New board needed

Jooste asked Bohitile what had led to her resignation.

“Was the retrenchment implemented by the CEO without due regard to the criteria set by the board? Did management (under the CEO) not keep the board in the loop as the retrenchment was implemented? Who did not allow you to address the issues during the 15 April and 27 May Board meetings?” he asked.

“Meatco is a critical institution and appropriate, targeted intervention is critical to safeguard its commercial sustainability,” Jooste added.

In her resignation letter, Bohitile said she would not be able to make an impact in Meatco’s activities.

“I will not be in any position to make any impact on the board going forward. It is my honest opinion that there is an urgent need for a new balanced board for Meatco. The planned annual general meeting for 25 June is probably an opportunity to start all over again,” Bohitile said.

Nigeria picks foreign banks for eurobond issue Moderating debt servicing costs The eurobonds are aimed at raising funds for external borrowing of 2.343 trillion naira earmarked in the 2021 spending plan. It will be mindful of costs and risks in terms of tenor and pricing in determining the amount of eurobonds to issue. DMO

CHIJIOKE OHUOCHA

The Nigerian government on Wednesday picked JPMorgan, Citigroup, Standard Chartered and Goldman Sachs as international bookrunners on a forthcoming eurobond issue, the country's debt office said.

The eurobonds are aimed at raising funds for external borrowing of 2.343 trillion naira earmarked in the 2021 spending plan to partly finance the government's deficit, the Debt Management Office (DMO) said.

"Whilst the government expects a successful outing, it will be mindful of costs and risks in terms of tenor and pricing in determining the amount of eurobonds to issue," the DMO said.

The DMO said proceeds from the bond sale will be used to fund various projects in the budget with the resultant inflow of foreign exchange into the country which will boost Nigeria's dollar reserves and support the naira currency.

Nigeria had planned a eurobond issue early last year after its sixth sale in 2018 where it raised US$2.86 billion. But it decided to defer the 2020 sale due to the turmoil caused by the Covid-19 pandemic.

Its parliament last month approved the external borrowing of about US$6.2 billion through the issuance of a eurobond. The government has said it wanted to moderate debt servicing costs by accessing relatively cheaper funds abroad, as global interest rates fall below 2020 levels while local rates rise.

Nigeria emerged from its second recession since 2016 in the fourth quarter of last year, but growth is fragile. The government expects a 2021 budget deficit of 5.6 trillion naira to be financed largely from foreign and local borrowings. -Nampa/Reuters